Financial Report Summary for ICON School Management Board Meeting

This financial presentation provides detailed insights into the December 2021 financials of ICON School Management. The report covers revenue sources, expenditures, comparisons with the previous year, and highlights areas where funds were allocated or under budgeted. It showcases a clear picture of the financial health of the institution, including revenue streams, expenses breakdown, and year-to-date financial performance.

• Financial Report
• School Management
• December 2021
• Revenue Analysis
• Expenses Breakdown

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1. Financial Presentation for February 9th, 2022 Board Financial Presentation Board Financial Presentation Provided By: ICON School Management

2. Todays Agenda Today s Agenda 1. December Financials 1. December Financials 2. Capitol Update 2. Capitol Update

3. December 2021 Financials

4. December Revenue: $408,926 LCFF: $225,484 Federal: $53,249 (ESSER II, ESSER III) Other State: $129,436 (SPED, ELO, IPI, MBG) Local: $757

5. As of 12/31: $1,554,608 As of 11/30, VM received 41.16% of projected revenues Still have 64% of COVID related funds to budgeted to receive this school year (ESSER, IPI, ELO, EEF) Higher than projected revenue due to incoming ESSER, ELO and IPI funding. YTD Revenue

6. Prior Year Comparison Prior Year Comparison - - Revenue Revenue Federal: PY received LLMF (Coronavirus Relief Funds) one-time funds (176K) PY received LLMF/GF Current year, received ESSER II and III Other State: current year, received ELO and ASES Other Local Revenues: write- off for old SPED encroachment fee in PY ($193K) 6

7. December Expenses: $193,417 S&B: $170,229 Supplies: $1,644 Operating: $21,544 Others: $0

8. As of 12/31, expended $1,249,292 As of 11/30, VM expended 38.62% of projected expenses Services and Operating Expenses Books and Supplies $16K, and Operating expenses $68K under budget. Operating expenses largely under in rent ($19K) and is overall largely under across all budgeted areas. YTD Expenses

9. Prior Year Comparison Prior Year Comparison - - Expenses Expenses Salaries & Benefits cost higher than PY mostly due to ASES staff Books & Supplies higher: Need to spend ESSER II/III funds Operating expenses lower mainly due to ASES/SPED expenses 9

10. YTD Budget Comparison YTD Budget Comparison Percentage of Budget Actuals as of 12/31/21 21-22 1st Interim Description A. REVENUES 1. LCFF Sources 2. Federal Revenues 3. Other State Revenues 4. Other Local Revenues 5. TOTAL REVENUES 1,129,695.00 130,519.00 276,223.94 18,170.27 1,554,608.21 2,452,112.00 563,184.00 716,013.00 46,000.00 3,777,309.00 46.07% 23.18% 38.58% 39.50% 41.16% B. EXPENDITURES 1. Certificated Salaries 2. Non-certificated Salaries 3. Employee Benefits 4. Books and Supplies 5. Services & Other Operating Expenditures 6. 7. Other Outgo 8. TOTAL EXPENDITURES 442,336.59 308,334.75 145,477.26 95,174.08 257,969.05 999,529.90 673,000.56 350,339.47 354,500.91 857,227.65 44.25% 45.81% 41.52% 26.85% 30.09% 0.00% 0.00% 38.62% Capital Outlay - - - - 1,249,291.73 3,234,598.49 305,316.48 542,710.51 56.26% C. NET INCOME 10

11. YTD Budget Comparison 11

12. VIBRANT MINDS CHARTER SCHOOL BALANCE SHEET AS OF DECEMBER 31, 2021 FUND: 1701 Balance Sheet ASSETS 9110 9120 9290 9299 9330 Total $ $ Cash in County Treasury Operating Account - F&M Due from Grantor Governments Inter-Resource Receivable Prepaid Expenditures (Expenses) TOTAL ASSETS 244,966.17 3,108,688.51 357,119.47 327,583.82 11,725.67 4,050,083.64 Total Cash: $ $3,353,654.68 Days Cash on Hand: 378 Total Assets: $4.05M Total Liabilities: $357K LIABILITIES AND EQUITY LIABILITIES 9500 9501 9502 9505 9599 Total $ $ Equity: $3.7M Accounts Payable (Current Liabilities) Accrued Liabilities Accrued Payroll STRS Payable Inter-Resource Payable TOTAL LIABILITIES 37,500.45 (30,531.41) (232.32) 22,969.34 327,583.82 357,289.88 EQUITY Beginning Balance Other Restatements Net Income (Loss) 3,256,021.70 $ 145,638.11 291,133.95 3,692,793.76 $ 4,050,083.64 $ 9795 TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 12

13. Facilities Funding for Charter Schools As part of the State Budget proposal unveiled in January, Governor Newsom is proposing to provide $30 million in ongoing SB 740 funds for 2022-23. In terms of the more immediate future, the State Allocation Board established a new filing round for the Charter School Facilities Program, effective from May 2, 2022 through June 3, 2022. Capitol Update New LCAP/Budget Overview for Parents Template CDE has posted the new 2022-23 LCAP template and LCFF Budget Overview for Parents template and instructions. These documents are due July 1st of each year. 13

14. Check Register VIBRANT MINDS CHARTER SCHOOL CHECK REGISTER 12/01/2021 - 12/31/2021 Date 12-01-2021 Vendor/Payee ICON School Management Memo Invoice #897 CALPADS Oct 2021 Dec 2021 Monthly Contract Fee Credit Card Payment - 4883 Credit Card Payment - 4891 Invoice #Nov 2021 Installment#5: GL, DO, PROP, & UMB Insurance Invoice #11-10-21 Workers' Comp Insurance - Dec 2021 Invoice #3091 Legal Services Invoice #001278922007 Dec & Jan 2021 Health & Life Insurance Invoice #0676-004589482 Utilities & Recycling Services 11/01/21 - 11/30/21 Invoice #11-05-21 Internet Services 11/06/21 - 12/05/21 & Late Payment Fee Invoice #11-02-21 Charter School Membership through 06/30/22 Invoice #3821652 Dec 2021 & Jan 2022 Health Insurance Invoice #11-22-21 Utilities 9/22/21 - 11/18/21 Invoice #11-22-21 Utilities 09/22/21 - 11/18/21 Invoice #90023758 Instructional Materials Invoice #546648 Fingerprints Fee Object(s) 9500 - Accounts Payable (Current Liabilities) 5800 - Professional/Consulting Services and Operating Expenditures 5813 - Business Services 9510 - Credit Card Payable 9510 - Credit Card Payable 9500 - Accounts Payable (Current Liabilities) 5450 - Other Insurance 9500 - Accounts Payable (Current Liabilities) 9330 - Prepaid Expenditures (Expenses) 9500 - Accounts Payable (Current Liabilities) 5830 - Legal 9500 - Accounts Payable (Current Liabilities) 9330 - Prepaid Expenditures (Expenses) 9500 - Accounts Payable (Current Liabilities) 5620 - Utilities 9500 - Accounts Payable (Current Liabilities) 5941 - Internet Services 9500 - Accounts Payable (Current Liabilities) 9330 - Prepaid Expenditures (Expenses) 9500 - Accounts Payable (Current Liabilities) 9330 - Prepaid Expenditures (Expenses) 9500 - Accounts Payable (Current Liabilities) 5620 - Utilities 9500 - Accounts Payable (Current Liabilities) 5620 - Utilities 9500 - Accounts Payable (Current Liabilities) 4305 - Instructional Materials and Supplies 9500 - Accounts Payable (Current Liabilities) 5836 - Fingerprinting Amount 7,067.50 - - 12-07-2021 12-07-2021 12-07-2021 Cardmember Service Cardmember Service AMS (Alliance Member Services) 5,651.40 4,894.21 3,078.38 - 12-07-2021 Employers Preferred Ins. Co. 1,187.00 - 12-07-2021 HANSBERGER & KLEIN, a Professional Law Corporation 245.00 - 12-07-2021 Mutual of Omaha 2,907.44 - 12-07-2021 Republic Services #676 96.66 - 52.79 - 12-08-2021 AT&T 12-08-2021 California Charter Schools Association 2,400.00 - 12-08-2021 California Choice Benefit Administrators 12,772.44 - 12-08-2021 City of Anaheim 3,234.74 - 12-08-2021 City of Anaheim 1,762.72 - 12-08-2021 Curriculum Associates LLC 500.00 - 12-08-2021 Department of Justice 190.00 -

15. Check Register 12-08-2021 12-08-2021 GOALS GreatAmerica Financial Svcs. Aug & Sep 2021 Hourly Facilities Rent Inv # GF3Q2021-22 Payments processed on 12-08-2021 Copier Lease: 017-1649387-000 Copier Lease: 017-1649387-000 Invoice #3086 Oct 2021 Legal Services Invoice #9347763800 One Year Compliance Assurance Subscription Payments processed on 12-08-2021 Spanish to English Interpretation Spanish to English Interpretation Invoice #11-22-21 Gas Utilities - 9/17/21 - 11/18/21 Invoice #413671652 Pest Control Services: 10/28/21 Snow Day 12/17/2021 12-10-2021 Payroll 12-23-2021 Payroll 9501 - Accrued Liabilities 9500 - Accounts Payable (Current Liabilities) 5605 - Equipment Lease 5605 - Equipment Lease 9500 - Accounts Payable (Current Liabilities) 5830 - Legal 9500 - Accounts Payable (Current Liabilities) 4300 - Materials and Supplies 9500 - Accounts Payable (Current Liabilities) 5860 - Translation & interpretation 5860 - Translation & interpretation 9500 - Accounts Payable (Current Liabilities) 5620 - Utilities 9500 - Accounts Payable (Current Liabilities) 5500 - Operations and Housekeeping Services 5800 - Professional/Consulting Services and Operating Expenditures 9502 - Accrued Payroll, 9503 - Accrued Payroll Taxes 9502 - Accrued Payroll, 9503 - Accrued Payroll Taxes 63,678.65 75,764.88 5,297.50 1,924.89 - - 12-08-2021 HANSBERGER & KLEIN, a Professional Law Corporation 630.00 - 12-08-2021 Personnel Concepts 179.66 - 12-08-2021 Prime Language Solutions 450.00 - - 12-08-2021 SoCalGas 706.25 - 12-08-2021 Terminix Commercial 80.00 - 12-17-2021 12-10-2021 12-23-2021 Snow Pros, Inc. Paycom Paycom 2,500.00

16. QUESTIONS? Roy Kim Chief Operating Officer ICON School Management rkim@iconsm.com