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DC Public and Public Charter Schools
Reply to "DCPCSB Quarterly Finance and Operations Update?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Where did you find this document online, OP?[/quote] The meeting materials are here (this one is under "consent calendar". I've been doing some digging tonight and it looks like most schools had FARs filed over the summer so you can see what financial indicator is trouble. For example, you can link to the CMI one here on the right column: https://www.dcpcsb.org/school/creative-minds-international-pcs I think you'll have to go school by school. The "comments by the school" from CMI seem to explain their debt ratio issue[/quote] SSMA's doesn't seem really problematic though. I wonder if something has changed. https://www.dcpcsb.org/sites/default/files/Shining%20Stars%20Montessori%20Academy%20PCS_2.pdf The school’s financial position did not present an immediate concern as the school’s change in net assets margin and cash flow from operations margin were both positive, indicating sufficient cash flow and cost management to meet short-term operating obligations. The aggregated three-year margin was (1.65%) as a result of a large operating deficit in FY 2017 when the school entered into a lease agreement with Howard University for a facility. Rent expense related to this lease in FY 2018 was $890K. At the end of FY 2018, the school’s outstanding liability due to Howard University was $603K, which was the primary driver for the current ratio of 0.71. The current ratio measures a school’s liquidity by comparing current assets with current liabilities; a ratio below 1.0 approximates a shortfall in ability to cover upcoming expenses. While the school’s current ratio was low in FY 2018, the school has worked with Howard University to pay the outstanding balance without jeopardizing the school’s financial position. Further, the school’s cash on hand and cash flow from operations indicated that sufficient cost management systems were in place to ensure a continued positive trend in performance.[/quote]
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