River Valley Charter School Board of Trustees · October 8, 2025 · 12:00 PM
RVCS Finance Committee Meeting
Finance committee approved the draft FY2024–2025 audited financial statements (clean audit); implementation of a new accounting standard increased compensated absence liability by about $99K.
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Key decisions
Approved the draft audited financial statements for the 2024 - 2025 fiscal year.
Agenda
Finance
II.A. Essex County Community Foundation
Essex County Community Foundation update presented for information.
Finance
II.B. Updates to 2025 - 2026 Financial Results
Discussion of updates to 2025–2026 financial results including federal grant timing, higher-than-budget interest income, lease plans, enrollment and staffing impacts, and review of FY25 audit and accrued salary expense.
Finance
II.C. 6.30.25 Audited Financial Statements
Review and vote on the audited financial statements for year ended 6/30/25; includes discussion of a new accounting standard that increased the compensated absence liability.