But a Louisiana Supreme Court decision on school vouchers funding means the school could take a smaller hit than first expected.
The extra money means the school will not have to dip as far into its reserves as originally planned for next school year.
Both schools needed to see at least a 10 point increase to their school performance score.
The proposal includes an expected deficit of nearly $700,000, according to the budget draft. Meeting is set for 5:30 p.m. Thursday.
This comes two weeks after a committee abruptly adjourned when one administrator asked the board to discuss her employment in open session.
Leaders form a plan to interview interim CEO possibilities by June 22.
Some community members said they're disappointed that Cohen students must deal with yet another transition.
The Future Is Now Schools, Inc., preliminary budget shows about $3.9 million in projected revenues, down from $4.7 million. A public budget hearing is scheduled for 6 p.m.
Board also receives concerning out-of-school suspension data.
The latest round of names include the interim CEO and two past applicants. The other names came from conversations with search committee members, board member says.