The board of New Orleans Military and Maritime Academy will meet Tuesday, May 20 at 7 pm to consider its annual budget for the 2014-15 school year, just after its regular board meeting at 6pm.
The meeting will take place in the school’s new facility at 425 O’Bannon St. Commandant Bill Davis cautioned that the current version is a draft, still subject to change.
Because state budgetary law requires submission of a charter school budget before important factors like amounts of per-student funding have been announced, the organization has often held a second budget hearing, later in the year, to make any needed adjustments.
Due to the complex financial instruments set up to finance NOMMA’s new building, the budget has become a more complex document. CPA Ben Hicks, who provides nearly monthly updates will be present to answer questions for board members and the public.
The school’s current budget is now just under $7 million.