BoT without contract

Proposal #3400114 April 26, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 830 26th Street, NE Washington, DC 20002 Work Performed: -Work inside school “Two Rivers Public Charter School” paint different hallways. All labor and materials included. Clean up after work completed. Total: $5,300. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $5,300. All the above work to be completed in a workmanlike manner for the sum of $5,300. Note: A deposit of $2,650 is requested before any work starts. TOTAL AMOUNT DUE: $5,300.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

Proposal #799333 April 26, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 1227 4th Street, NE Washington, DC 20002 Work Performed: -Work inside school “Two Rivers Public Charter School” paint different hallways. All labor and materials included. Clean up after work completed. Total: $3,700. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $3,700. All the above work to be completed in a workmanlike manner for the sum of $3,700. Note: A deposit of $1,850. is requested before any work starts. TOTAL AMOUNT DUE: $3,700.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

Proposal #589111 April 26, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 1234 4th Street, NE Washington, DC 20002 Work Performed: -Work inside school “Two Rivers Public Charter School” paint different hallways. All labor and materials included. Clean up after work completed. Total: $2,800. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $2,800. All the above work to be completed in a workmanlike manner for the sum of $2,800. Note: A deposit of $1,400. is requested before any work starts. TOTAL AMOUNT DUE: $2,800.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

March 2022 Fina

PREPARED APRIL 2022 BY ancials

Contents § Executive Summary § Key Performance Indicators § Local Revenue § Forecast Overview § Cash Forecast § Key Forecast Changes This Month § Notable Forecast Variances § Appendix PAGE 2



Executive Summary § In January, the board approved our new FY22 b financial reporting starting from December 202 days of cash and negative net income of -$1.6 m § Our forecasted net income is $186k less than th § Forecasted revenue is $232k lower than bu revenue. Our updated FY22 budget assume enrollment count from December 2021, how SpEd students. This variance is the main dri § Forecasted expense is $46k lower than bud ($216k), salaries, benefits & taxes ($113k), d amortization ($23k) offset the higher-than-b direct student expense ($166k) and office & § Our cash forecast for FY22 year end is $163k le expectations for grants payments based on cur PAGE 3

budget, which was incorporated into our current 21. We are expecting to end the year with 117 million, which aligns with our current budget. he budget. This is mainly due to: udgeted, mainly due to lower-than-expected PPF es 174 SpEd students based on the final wever, our actual Q4 PPF receipts counts 166 iver for the lower PPF revenue forecast. dgeted, as savings from occupancy service donated expense ($78k), depreciation & budgeted costs of contracted staff ($136k), & business expense ($82k). ess than the budget, as we adjusted our rrent grant revenue forecasts.

Key Performance Indicator Days of Cash Gross Margin Cash balance at year-end divided Revenue less expenses, divided by by average daily expenses revenue 180 10 % D 160 s 140 5% g 120 117 10 0 0% 80 60 -5% 40 20 -6.3% 0 - 10 % 117 DAYS OF CASH AT YEAR'S END -6.3% GROSS MARGIN The school will end the year with 117 The forecasted net income is -$1.6m, days of cash. This is above the which is $186k below the budget. It recommended 60 days, and 5 more yields a -6.3% gross margin. days than last month PAGE 4

rs Grants Invoiced Forecasted FAR Federal grants requested divided Forecasted calculation of PCSB’s by federal grants awarded. Financial Audit Review (FAR) at year-end 10 0 % 10 0 75% 79% 90 89 80 50% 70 60 25% 50 40 0% 30 20 79% GRANTS INVOICED 10 Drawdowns will continue as the 0 school year continues and more grants get approved. FORECASTED FAR SCORE: 89 The Financial Audit Review (FAR) is the PCSB’s annual evaluation of the school’s financial and operational position.

Local Revenue $412k Less Per-Pu Student Expectations Grade-Level Current Forecast • Our new FY22 budget enrollment (997) is based on the final certified student 997 numbers. Overall, we have 31 less students than the original budget (1028), which was Special Education 166 approved in June 2021. Level 1 77 Level 2 44 • We assumed an increase for PPF Facilities Level 3 23 allocation in the new FY22 budget, but the Level 4 22 actual allocation stays the same, hence the Compliance 166 -$75k variance. LEP/NEP 31 • Our current forecast for SpEd Per-Pupil At-Risk 247 funding is based on Q4 receipt’s Residential enrollment, which has 8 less SpEd students 0 than budgeted, resulting a -$341k variance. Facilities 997 PAGE 5 Total 997

upil Funding Than Expected SY21-22 Difference Financial Gain / (Loss) Budget 0 14k 997 174 -8 -341k -326k 77 0 959 -412k 44 0 678 23 0 582 30 -8 174 -8 -17k 32 -1 -9k 248 -1 -2k 00 997 0 -75k 997 0

Forecast Overview Varianc -233 Forecast Budget Variance Revenue $26.2m $26.4m -$233k Expenses $27.8m $27.8m $46k Net Income -$1.6m -$1.5m -$186k -186 Cash Flow $940k $670k $271k Adjustments $85k Change in -$704k -$788k Cash PAGE 6

ce Graphic Comments 3k We are expecting to receive higher than budgeted +46k federal revenue (mainly due to higher than budgeted title funds allocation, extra Reopening facilities grant 6k and Emergency Connectivity Fund), but the surplus +271k doesn’t cover the shortfalls of lower than budgeted 85k PPF revenue. Savings from occupancy service ($216k), salaries, 0 benefits & taxes ($113k), donated expense ($78k), depreciation & amortization ($23k) offset the higher- than-budgeted costs of contracted staff ($136k), direct student expense ($166k) and office & business expense ($82k). Cash inflow from MS construction loan for around $611k will be offset by cash outflows from elementary and middle school building improvements ($185k), grants receivable ($100k), accrued salaries ($32k) and depreciation ($23k).

Cash Forecast 118 Days of Cash $16.0m at year’s end $14.0m $12.0m We forecast the school’s year ending $10.0m cash balance as $8.16m, $8.0m $164k below budget. The difference is $6.0m mainly driven by: $4.0m (-) FY21 ending cash balance was $248K $2.0m lower than budgeted. $k (-) Net income is forecasted to be $186k Jun Jul lower than budgeted. (+) Cash flow adjustments being $271k higher than budgeted. . PAGE 7

Actuals Forecast $164k Loss $8.16m Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Budget Cash Forecast Cash

Key Forecast Changes This The March forecast decreased the year-end cash Annual Change Category 345,475 State and Local Revenue less cash Actual enrollment for SpEd students is less than budgeted, resulting less PPF revenue. 329,334 State and Local Revenue less cash Grants payments from April to June 2022 revenue will be received in FY23. 90,041 Occupancy Service more cash Adjusting the forecast for maintenance and repair expense as YTD spending is lower than expected. 76,924 Private Grants and Donations more cash We received more private contributions than previously expected. 74,413 Benefits and Taxes more cash Adjusting the forecast for employer retirement contribution as we’re expecting forfeitures to offset the costs. PAGE 8

s Month h expectation by $443k. Key changes: Impact On Cash $345k $329k $90k $77k $74k 0

Year-To-Date Actual Budget Variance Forecas Revenue 15,975,756 16,267,430 (291,674) 21,151,403 State and Local Revenue 3,117,547 2,812,604 304,943 3,993,730 Federal Revenue 362,877 263,568 99,309 445,145 Private Grants and Donations 395,638 319,532 269,276 50,257 169,916 Earned Fees 30,821 186,170 (155,349) 26,155,832 Donated Revenue 19,806,533 19,799,047 Total Revenue 7,486 14,176,838 3,181,45 Annotated Financials Expenses 10,450,518 10,155,282 (295,236) 333,557 Salaries 2,299,791 2,390,967 91,177 85,617 Benefits and Taxes 226,979 55,973 Contracted Staff 45,510 152,976 (74,003) 1,446,049 Staff-Related Costs 41,980 57,149 11,638 2,365,070 Rent 1,045,815 41,980 - 1,364,257 Occupancy Service 1,606,977 169,916 Direct Student Expense 1,012,365 1,247,216 201,401 104,409 Office & Business Expense 23,321 1,730,868 123,890 Donated Expense - 1,019,953 23,283,137 Contingency 16,753,255 7,588 2,872,695 Total Ordinary Expenses 3,053,277 186,170 162,849 Net Operating Income 78,306 78,306 2,278,332 17,060,867 307,612 2,238,394 2,738,180 315,098 4,516,726 27,799,863 Extraordinary Expenses 1,708,749 1,708,749 0 (1,644,031 Interest 1,650,061 1,695,844 45,783 Depreciation and Amortization 940,269 3,358,810 3,404,593 45,783 (703,762 Total Extraordinary Expenses 20,112,065 Total Expenses 20,465,460 353,394 Net Income (305,532) (666,413) 360,880 Cash Flow Adjustments (918,695) 1,358,590 (2,277,285) Change in Cash (1,224,228) 692,177 (1,916,405)

Annual Forecast Variance Remaining st Budget (416,317) 5,175,648 u REVENUE: $233K BEHIND 3 21,567,721 128,454 876,184 0 3,865,276 We are expecting to receive higher than 5 351,424 93,721 82,268 budgeted federal revenue (mainly due to 8 355,865 higher than budgeted title funds 6 248,226 39,772 76,106 allocation, extra Reopening facilities 2 26,388,512 (78,310) 139,095 grant and Emergency Connectivity 6,349,299 Fund), but the surplus doesn’t cover the 8 14,284,109 u(232,680) shortfalls of lower than budgeted PPF 51 3,187,957 revenue. 7 197,516 107,270 3,726,321 7 85,618 6,506 881,660 v EXPENSES: $46K AHEAD 3 55,973 106,578 9 1,662,955 (136,041) Savings from occupancy service ($216k), 0 2,198,310 0 40,107 salaries, benefits & taxes ($113k), donated 7 1,281,827 0 13,993 expense ($78k) and depreciation & 6 248,226 400,234 amortization ($23k) offset the higher- 9 104,409 216,906 758,093 than-budgeted costs of contracted staff 7 23,306,898 (166,760) 351,892 ($136k), direct student expense ($166k) 5 3,081,614 146,595 and office & business expense ($82k). (82,430) 104,409 2 2,278,332 78,310 6,529,882 w NET INCOME: $186K behind 4 2,261,125 (0) (180,582) 6 4,539,457 23,761 3 27,846,355 1) (1,457,843) (208,919) 9 669,526 2) (788,317) 0 569,583 x CASH ADJ:$271K AHEAD 22,731 588,333 Cash inflow from MS construction loan 22,731 1,157,916 for around $611k will be offset by cash v46,492 7,687,798 outflows from elementary and middle w(186,188) (1,338,499) school building improvements ($185k), x270,744 grants receivable (100k), accrued salaries 1,858,965 y84,556 520,466 ($32k) and depreciation ($23k). y NET CHANGE IN CASH: PAGE 9 $85K AHEAD

Income Statement Actual Aug Sep Oct Revenue Jul State and Local Revenue Federal Revenue 1,957,794 1,751,775 1,753,613 1,697,549 Private Grants and Donations 39,093 156,080 255,213 409,974 Earned Fees 2,700 95,681 21,975 2,276 Donated Revenue 21,979 91,100 39,948 29,841 Total Revenue 000 0 Expenses Salaries 2,021,566 2,094,636 2,070,749 2,139,640 Benefits and Taxes Contracted Staff 1,129,011 1,130,090 1,155,557 1,163,427 Staff-Related Costs 263,859 Rent 249,667 188,002 261,120 Occupancy Service 30,174 Direct Student Expense 5,619 7,154 22,577 2,120 Office & Business Expense 4,664 Monthly Financials Donated Expense 3,683 7,190 8,666 Contingency 118,668 Total Ordinary Expenses 4,664 4,664 4,664 228,628 Operating Income Extraordinary Expenses 95,332 93,544 125,842 99,342 Interest 0 Depreciation and Amortization 182,022 93,008 182,185 0 Total Extraordinary Expenses Total Expenses 170,484 106,631 126,530 1,910,883 Net Income 228,757 000 Cash Flow Statement Cash Flow Adjustments 000 Change in Cash 1,840,482 1,630,283 1,887,140 181,084 464,353 183,609 189,861 189,861 189,861 189,861 178,044 179,598 179,652 180,364 367,905 369,459 369,513 370,225 2,208,387 1,999,743 2,256,654 2,281,108 -186,821 94,893 -185,905 -141,468 Jul Aug Sep Oct 4,375,945 -1,177,697 -1,012,553 2,963,556 4,189,124 -1,082,804 -1,198,458 2,822,089

Nov Dec Jan Feb Mar Forecast May Jun TOTAL Apr 21,151,403 9 1,739,606 1,739,031 1,750,589 1,741,396 1,844,404 1,498,938 1,759,907 1,916,802 3,993,730 292,061 292,061 292,061 4 362,996 410,879 787,948 313,480 381,884 27,423 27,423 27,423 445,145 25,369 25,369 25,369 395,638 6 4,172 28,540 5,930 82,060 119,544 46,365 46,365 46,365 169,916 26,155,832 1 25,082 24,412 28,113 24,576 34,479 1,890,155 2,151,125 2,308,020 14,176,838 0 0 5,000 5,050 0 20,771 3,181,451 333,557 0 2,131,855 2,207,862 2,577,630 2,161,512 2,401,083 85,617 55,973 7 1,147,762 1,187,481 1,181,568 1,157,279 1,198,343 1,145,548 1,172,901 1,407,872 1,446,049 2,365,070 9 277,250 302,280 251,106 276,251 230,256 293,887 293,887 293,887 1,364,257 169,916 4 19,134 18,064 37,020 42,846 44,391 35,526 35,526 35,526 104,409 0 5,308 4,267 5,700 6,054 2,522 13,369 13,369 13,369 23,283,137 2,872,695 4 4,664 4,664 4,664 4,664 4,664 4,664 4,664 4,664 2,278,332 8 107,446 115,025 139,109 129,608 121,241 133,411 133,411 133,411 2,238,394 4,516,726 8 213,180 221,352 172,117 127,201 187,285 252,698 252,698 252,698 27,799,863 -1,644,031 2 97,702 105,869 79,178 101,107 125,522 117,297 117,297 117,297 TOTAL 0 0 0 2,550 0 20,771 48,865 48,865 48,865 940,269 -703,762 000000 34,803 34,803 34,803 PAGE 10 3 1,872,446 1,959,002 1,873,013 1,845,010 1,934,995 2,080,068 2,107,422 2,342,392 7 259,409 248,859 704,617 316,502 466,087 -189,913 43,703 -34,373 1 189,861 189,861 189,861 189,861 189,861 189,861 189,861 189,861 4 180,751 180,225 190,900 188,868 191,658 196,111 196,111 196,111 5 370,612 370,086 380,761 378,729 381,519 385,972 385,972 385,972 8 2,243,058 2,329,088 2,253,773 2,223,740 2,316,514 2,466,040 2,493,394 2,728,364 8 -111,203 -121,226 323,856 -62,227 84,568 -575,885 -342,269 -420,345 Nov Dec Jan Feb Mar Apr May Jun 6 -2,231,534 -1,162,999 743,963 -1,616,912 -1,800,464 349,375 349,375 1,160,214 9 -2,342,737 -1,284,225 1,067,819 -1,679,139 -1,715,896 -226,510 7,106 739,869

Previous Year End Current 6/30/2021 3/31/2022 Assets 8,868,408 7,644,180 Current Assets 1,826,635 3,342,083 Cash Accounts Receivable 365,271 437,044 Other Current Assets 29,879 29,879 Intercompany Transfers 11,090,192 Total Current Assets 11,453,185 Noncurrent Assets Accounts Receivable 6,241,162 6,241,162 Facilities, Net 42,378,915 42,234,027 Operating Fixed Assets, Net 5,479,428 5,378,350 Rental Deductions Restricted Cash and Cash Equivalents 1,717,102 1,939,539 Total Noncurrent Assets 4,938,538 5,092,171 Total Assets 60,755,144 60,885,249 71,845,336 72,338,434 Balance Sheet Liabilities and Equity 396,743 334,884 Liabilities 322,702 1,974,544 Current Liabilities 752,968 Accounts Payable 1,472,413 0 Other Current Liabilities 2,309,428 Accrued Salaries and Benefits Total Current Liabilities Long-Term Liabilities 54,140,232 54,037,844 Senior Debt 4,807,457 4,871,461 Other Long-Term Liabilities 58,947,689 Total Long-Term Liabilities 60,420,102 58,909,305 Total Liabilities 61,218,732 Equity 10,399,976 11,057,084 Unrestricted Net Assets 658,905 -305,532 Net Income 366,354 368,150 Temporarily Restricted Net Assets Total Equity 11,425,234 11,119,702 Total Liabilities and Equity 71,845,336 72,338,434

PAGE 11

Grant Summary SY20-21 ESEA Title I Awarded Requested SY20-21 ESEA Title II SY20-21 ESEA Title III 16,992 16,992 SY20-21 ESEA Title IV 4,382 4,382 SY21-22 IDEA 611 508 SY21-22 IDEA 619 2,301 2,301 SY20-21 SOAR Formula Combined 200,239 SY21-22 ESSER II 213,243 276 276 SY21-22 ESSER III 75,221 SY21-22 ESEA Title I 75,221 774,506 SY21-22 ESEA Title II 952,432 SY21-22 ESEA Title III 1,058,516 SY21-22 ESEA Title IV 1,434,698 203,998 SY21-22 SOAR Formula Combined 232,752 59,500 Consolidated 67,718 4,656 SY21-22 PCS Reopening Facilities Grant 8,087 19,833 SY21-22 IDEA-ARP 611 21,683 SY21-22 IDEA-ARP 619 97,929 SY21-22 COVID-19 Positive Case 135,314 316,071 Response 363,636 SY21-22:Federal Grants:ARP Homeless II 12,320 39,840 1,347 1,347 13,333 30,000 1,965 5,866 Subtotal 3,606,296 2,863,386 % of Award Amount 79%

Received Unpaid Unrequested 16,992 - - 4,382 - - - 508 2,301 - - 200,239 13,004 203,998 276 - 59,500 75,221 - 774,506 177,926 19,833 1,058,516 376,183 97,929 28,753 316,071 8,218 12,320 1,347 3,431 1,850 13,333 1,965 37,384 47,565 - 27,520 - - - - - 16,667 - 3,901 - - - - - - - 749,972 2,108,758 742,910 PAGE 12 21% 58% 21%

QUESTIO Please contact your EdOps Fi Zoe Chen [email protected] 2028189690 © EdOps 2017-2

ONS? inance Specialist: om 0 2020

February 2022 Fin

PREPARED APRIL 2022 BY nancials

Contents ▪Executive Summary ▪Key Performance Indicators ▪Local Revenue ▪Forecast Overview ▪Cash Forecast ▪Key Forecast Changes This Month ▪Notable Forecast Variances ▪Appendix PAGE 2



Executive Summary ▪ In January, the board approved our new FY22 bud financial reporting starting from December 2021. W and negative net income of -$1.5 million, which alig ▪ Our forecasted net income is $77k less than the bud • Forecasted revenue is $15k higher than budge • Forecasted expense is $92k higher than budge taxes ($68k), contracted staff ($85k), direct stu ($114k) offset the savings from occupancy serv ($78k)and depreciation and amortization ($23 ▪ Our cash forecast for FY22 year end is $354k more the MS construction loan by the end of the year to c PAGE 3

dget, which was incorporated into our current We are expecting to end the year with 122 days of cash gns with our current budget. dget. This is mainly due to: eted mainly due to extra federal funds. eted, as higher-than-budgeted costs of benefit and udent expense ($86k) and office and business expense vice ($126k), salaries ($34k), donated expense 3k). e than the budget, as we plan to get reimbursed from cover the costs of the renovation projects.

Key Performance Indicators Days of Cash Gross Margin Cash balance at year-end divided by Revenue less expenses, divided by average daily expenses revenue 122 DAYS OF CASH AT YEAR'S END -5.8% GROSS MARGIN D c The school will end the year with 122 days The forecasted net income is -$1.5m, which is of cash. This is above the recommended 60 $77k below the budget. It yields a -5.8% gross days, and 16 more days than last month margin. PAGE 4

Grants Invoiced Forecasted FAR Federal grants requested divided by Forecasted calculation of PCSB’s federal grants awarded. Financial Audit Review (FAR) at year-end 62% GRANTS INVOICED FORECASTED FAR SCORE: 89 Drawdowns will continue as the school year The Financial Audit Review (FAR) is the PCSB’s continues and more grants get approved, annual evaluation of the school’s financial and operational position.

Local Revenue $64k Less Per-Pupil Student Expectations Grade-Level Current Forecast • Our new FY22 budget enrollment (997) is based on the final certified student numbers. 997 Overall, we have 31 less students than the original budget (1028), which was approved Special Education 174 in June 2021 Level 1 77 Level 2 44 • We assumed an increase for PPF Facilities Level 3 23 allocation in the new FY22 budget, but the Level 4 30 actual allocation stays the same, hence the Compliance 174 -$75k variance. LEP/NEP 31 PAGE 5 At-Risk 248 Residential 0 Facilities 997 Total 997

l Funding Than Expected SY21-22 Difference Financial Gain / (Loss) Budget 0 14k 997 174 0 4k 77 0 959 44 0 678 23 0 582 30 0 1k 174 0 420 32 -1 -9k 248 0 794 00 997 0 -75k -64k 997 0

Forecast Overview Forecast Budget Variance Vari Revenue $26.4m $26.4m $15k +1 Expenses $27.9m $27.8m -$92k -92k Net Income -$1.5m -$1.5m -$77k -77k Cash Flow $1.3m $670k $605k Adjustments -$260k -$788k $528k Change in Cash 0 PAGE 6

iance Graphic Comments 15k We are expecting to receive higher than budgeted federal revenue (mainly due to higher-than-budgeted title funds allocation, extra Reopening facilities grant and Emergency Connectivity Fund), and the surplus covers the shortfalls of lower than budgeted PPF revenue. Higher-than-budgeted costs of benefit and taxes ($68k), contracted staff ($85k), direct student expense ($86k) and office and business expense ($114k) offset the savings from occupancy service ($126k), salaries ($34k), donated expense ($78k)and depreciation and amortization ($23k). +605k Cash outflows from MS summer renovation project will 528k be covered by MS construction loan for around $611k

Cash Forecast 122 Days of Cash at year’s end We forecast the school’s year ending cash balance as $8.61m, $280k above budget. The difference is mainly driven by: (-) FY21 ending cash balance was $248K lower than budgeted. (-) Net income is forecasted to be $77k lower than budgeted. (+) Cash flow adjustments being $605k higher than budgeted, mainly due to expected cash inflows from MS construction loan. . PAGE 7

Actuals Forecast $8.61m $280k Gain

Key Forecast Changes This M The February forecast increased the year-end cash exp Annual Change Category 610,999 Facilities Project Adjustments more cash Costs from MS summer renovation project will be reimbursed by MS construction loan this fiscal year. 115,400 Occupancy Service $ less cash Busy Bee monthly contract increased effective January 2022; extra gas costs from in Nov 2021 to January 2022. 38,839 Direct Student Expense less cash We continue to spend more in contracted SpEd instruction services to cover responsibilities from terminated SpEd teachers. 31,759 Office & Business Expense less cash Adjusted the forecast for copying expenses and possible auditing fee increase. 24,389 Contracted Staff less cash We continue to use more contracted substitutes to make up for staff vacancies. PAGE 8

Month pectation by $424k. Key changes: Impact On Cash $611k $115k $39k $32k $24k 0

Year-To-Date Actual Budget Variance Forecas Revenue 14,131,352 14,499,367 (368,015) 21,496,87 State and Local Revenue 2,434,188 2,463,082 (28,894) 3,982,79 Federal Revenue 243,333 234,283 368,22 Private Grants and Donations 285,053 237,466 9,051 385,91 Earned Fees 7,500 165,484 47,587 169,91 Donated Revenue (157,984) Total Revenue 17,101,426 17,599,682 (498,255) 26,403,73 Annotated Financials Expenses 9,252,175 8,996,986 (255,189) 14,250,11 Salaries 2,069,534 2,125,304 55,770 3,255,86 Benefits and Taxes 282,92 Contracted Staff 172,759 131,677 (41,082) 85,61 Staff-Related Costs 42,938 53,939 11,001 55,97 Rent 37,315 37,315 - 1,536,09 Occupancy Service 2,269,74 Direct Student Expense 924,431 1,108,637 184,205 1,411,36 Office & Business Expense 1,375,287 1,498,836 123,549 169,91 Donated Expense 104,40 Contingency 941,058 942,370 1,312 Total Ordinary Expenses - 165,484 165,484 23,422,01 Net Operating Income - 2,981,71 69,606 69,606 Extraordinary Expenses 14,815,498 15,130,153 314,656 2,278,33 Interest 2,285,929 (183,600) 2,238,39 Depreciation and Amortization 2,469,528 4,516,72 27,938,74 Total Extraordinary Expenses 1,518,888 1,518,888 0 (1,535,008 Total Expenses 1,458,415 1,274,54 Net Income 1,507,416 49,002 (260,467 Cash Flow Adjustments 2,977,303 Change in Cash 17,792,800 3,026,304 49,002 (691,374) 18,156,458 363,658 1,183,042 (556,776) (134,598) 2,970,445 (1,787,402) 491,668 2,413,668 (1,922,000)

Annual Forecast Variance Remaining st Budget (70,842) 7,365,527 ❶ REVENUE: $15K AHEAD 79 21,567,721 117,523 1,548,611 99 3,865,276 16,797 We are expecting to receive higher than 21 351,424 30,054 124,888 budgeted federal revenue (mainly due to 19 355,865 (78,310) 100,867 higher-than-budgeted title funds allocation, 16 248,226 162,416 extra Reopenning facilities grant and 34 26,388,512 ❶15,222 9,302,308 Emergency Connectivity Fund), and the surplus covers the shortfalls of lower than 18 14,284,109 33,991 4,997,943 budgeted PPF revenue. 63 3,187,957 (67,907) 1,186,329 23 197,516 (85,407) ❷ EXPENSES: $92K BEHIND 17 85,618 110,163 73 55,973 0 42,680 Higher-than-budgeted costs of benefit and 90 1,662,955 0 18,658 taxes ($68k), contracted staff ($85k), direct 46 2,183,750 126,865 611,659 student expense ($86k) and office and 60 1,296,387 (85,997) 894,459 business expense ($114k) offset the savings 16 248,226 (114,973) 470,303 from occupancy service ($126k), salaries 09 104,409 78,310 169,916 ($34k), donated expense ($78k)and 16 23,306,898 (0) 104,409 depreciation and amortization ($23k). 18 3,081,614 (115,117) 8,606,518 (99,895) 695,790 ❸ NET INCOME: $77K behind 32 2,278,332 94 2,261,125 0 759,444 ❹ CASH ADJ:$605K AHEAD 26 4,539,457 22,731 779,979 42 27,846,355 Cash outflows from MS summer renovation 8) (1,457,843) 22,731 1,539,423 project will be covered by MS construction 41 669,526 10,145,942 loan for around $611k 7) (788,317) ❷(92,387) ❸(77,165) (843,634) ❺ NET CHANGE IN CASH: ❹605,015 91,498 ❺527,850 $528K AHEAD (752,135) PAGE 9

Income Statement Actual Aug Sep Oct Revenue Jul State and Local Revenue Federal Revenue 1,957,794 1,751,775 1,753,613 1,697,549 Private Grants and Donations 39,093 156,080 255,213 409,974 Earned Fees 2,700 95,681 21,975 2,276 Donated Revenue 21,979 91,100 39,948 29,841 Total Revenue 000 0 Expenses Salaries 2,021,566 2,094,636 2,070,749 2,139,640 Benefits and Taxes Contracted Staff 1,129,011 1,130,090 1,155,557 1,163,427 Staff-Related Costs 263,859 Rent 249,667 188,002 261,120 23,516 Occupancy Service 2,120 Direct Student Expense 5,619 7,154 22,577 4,664 Office & Business Expense 118,668 Donated Expense 3,683 7,190 8,666 222,063 Contingency 112,565 Total Ordinary Expenses 4,664 4,664 4,664 0 Operating Income 0 Monthly Financials Extraordinary Expenses 95,332 93,544 125,842 Interest 1,910,883 Depreciation and Amortization 182,022 93,008 182,057 228,757 Total Extraordinary Expenses Total Expenses 170,484 106,631 126,658 Net Income 000 Cash Flow Statement Cash Flow Adjustments 000 Change in Cash 1,840,482 1,630,283 1,887,140 181,084 464,353 183,609 189,861 189,861 189,861 189,861 178,044 179,598 179,652 180,364 367,905 369,459 369,513 370,225 2,208,387 1,999,743 2,256,654 2,281,108 -186,821 94,893 -185,905 -141,468 Jul Aug Sep Oct 4,375,945 -1,177,697 -1,012,553 2,963,556 4,189,124 -1,082,804 -1,198,458 2,822,089

Nov Dec Jan Feb Forecast TOTAL Mar Apr May Jun 21,496,879 1,739,606 1,739,031 1,750,589 1,741,396 1,802,158 1,802,158 1,802,158 1,959,053 3,982,799 387,153 387,153 387,153 387,153 368,221 362,996 410,879 538,356 261,598 31,222 31,222 31,222 31,222 385,919 25,217 25,217 25,217 25,217 169,916 4,172 28,540 5,930 82,060 40,604 40,604 40,604 40,604 26,403,734 25,082 24,412 28,113 24,576 2,286,353 2,286,353 2,286,353 2,443,248 14,250,118 0 5,000 2,500 0 3,255,863 282,923 2,131,855 2,207,862 2,325,488 2,109,630 85,617 55,973 1,147,762 1,187,481 1,181,568 1,157,279 1,189,534 1,192,313 1,192,313 1,423,783 1,536,090 2,269,746 277,250 302,280 251,106 276,251 296,582 296,582 296,582 296,582 1,411,360 169,916 14,170 19,858 37,020 42,846 27,541 27,541 27,541 27,541 104,409 5,308 4,267 5,700 6,004 10,670 10,670 10,670 10,670 23,422,016 2,981,718 4,664 4,664 4,664 4,664 4,664 4,664 4,664 4,664 2,278,332 107,304 115,025 139,109 129,608 152,915 152,915 152,915 152,915 2,238,394 4,516,726 211,457 212,452 146,534 125,694 223,615 223,615 223,615 223,615 27,938,742 -1,535,008 104,390 112,975 104,761 102,593 117,576 117,576 117,576 117,576 TOTAL 0000 42,479 42,479 42,479 42,479 1,274,541 -260,467 0000 26,102 26,102 26,102 26,102 PAGE 10 1,872,304 1,959,002 1,870,463 1,844,940 2,091,678 2,094,456 2,094,456 2,325,927 259,552 248,859 455,025 264,690 194,675 191,897 191,897 117,321 189,861 189,861 189,861 189,861 189,861 189,861 189,861 189,861 180,751 180,225 190,909 188,871 194,995 194,995 194,995 194,995 370,612 370,086 380,770 378,732 384,856 384,856 384,856 384,856 2,242,915 2,329,088 2,251,233 2,223,672 2,476,534 2,479,312 2,479,312 2,710,783 -111,060 -121,226 74,255 -114,042 -190,181 -192,959 -192,959 -267,535 Nov Dec Jan Feb Mar Apr May Jun -2,231,677 -1,162,999 993,565 -1,565,097 -1,197,346 2,866,493 -1,197,346 -380,302 -2,342,737 -1,284,225 1,067,819 -1,679,139 -1,387,527 2,673,534 -1,390,306 -647,836

Previous Year End Current 6/30/2021 2/28/2022 Assets 8,868,408 9,360,076 Current Assets 1,826,635 2,644,427 Cash Accounts Receivable 365,271 280,239 Other Current Assets 29,879 29,879 Intercompany Transfers 11,090,192 12,314,621 Total Current Assets Noncurrent Assets 6,241,162 6,241,162 Accounts Receivable 42,378,915 42,351,990 Facilities, Net 5,479,428 5,441,306 Operating Fixed Assets, Net 1,717,102 1,914,823 Rental Deductions 4,938,538 5,095,995 Restricted Cash and Cash Equivalents 60,755,144 61,045,276 Total Noncurrent Assets 71,845,336 73,359,896 Total Assets Balance Sheet 396,743 224,757 Liabilities and Equity 322,702 3,487,686 Liabilities 752,968 Current Liabilities 1,472,413 0 Accounts Payable 3,712,443 Other Current Liabilities Accrued Salaries and Benefits 54,140,232 54,049,220 Total Current Liabilities 4,807,457 4,864,373 58,947,689 58,913,593 Long-Term Liabilities 60,420,102 62,626,036 Senior Debt Other Long-Term Liabilities 10,399,976 11,057,084 Total Long-Term Liabilities 658,905 -691,374 Total Liabilities 366,354 368,150 Equity 11,425,234 10,733,860 Unrestricted Net Assets 71,845,336 73,359,896 Net Income Temporarily Restricted Net Assets Total Equity Total Liabilities and Equity