By Richard Bammer

No surprise, Kairos Public School Vacaville Academy, in its third year, will post a positive certification for its 2016-17 budget, meaning the independent charter school will be able to pay its bills in the coming year.

But at the school’s board of directors meeting Wednesday, it was the $2.2 million beginning fund balance of a $4.6 million budget that stood out among the financial figures presented by Anita Schwab, the school’s chief business officer.

Kairos Executive Director Jared Austin said board members may wonder why the fund balance is so large.

In a telephone interview Thursday, he clarified that the beginning fund balance “is money we’ve saved up” since the school opened its doors in fall 2014 at 129 Elm St., in the old Elm Elementary campus two blocks off Merchant Street.

 

Source: Kairos on good financial footing, a $4.6M budget, sizable beginning, ending fund balances