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Does your program budget show a surplus or deficit? Please provide a brief explanation for the surplus or deficit. <br />2025-2026 <br />2023-24 <br />The deficit is primarily the result of commitments the Charles House board has made to <br />increase employee compensation to comply with Orange County Living Wage <br />guidelines. <br />2024-25 <br />The projected deficit represents a continuing board commitment to increase employee <br />compensation, surpassing Orange County Living Wage guidelines, providing employer- <br />sponsored health insurance, etc. <br />The projected surplus is driven by the board of directors' commitment to bringing our <br />budget back into balance, following consectutive years of financial losses. Recognizing <br />that the need for increases in employee compensation have not subsided, the board <br />elected to make increases to program costs that, while still modest, are of a slightly <br />higher dollar amount than in recent years. Health insurance costs have also come down <br />due to a change in plan type. <br />Docusign Envelope ID: FE6E03E9-3378-4BE8-B2E5-0623619296B7