ISAP Program Renewal and Budget Replenishment
Q: Updates on ISAP program renewal and expectations?
A: GEO is aware of discussions on crafting a new RFP for the ISAP program but believes decisions may await the new administration, which could have different viewpoints on the ICE contract. They anticipate that budgets will be replenished on October 1st, enabling ICE to increase detention beds and ISAP participation.

Guidance on ISAP and ICE Detention Uptick
Q: Is the modest uptick in Q4 driven by budget rollover?
A: Yes, GEO confirms that the expected increase in monitoring and ICE detention in Q4 is due to budget replenishment on October 1st, which will allow ICE to achieve higher levels of detention beds and ISAP participants. Financial constraints have limited ICE's operations earlier in the year.

Potential Impact on Guidance if Uptick Doesn't Occur
Q: If uptick doesn't happen, will results be at low end?
A: GEO believes that if the expected uptick does not materialize, results will be closer to the lower end of the full-year guidance range, and they have adjusted the range accordingly.

CapEx Outlook Increasing
Q: Why has the CapEx outlook been moving higher?
A: GEO's capital expenditures have increased due to significant improvements in two facilities, one in Oklahoma and one in New Jersey.

Sale of Coleman Hall Facility
Q: Details on Coleman Hall sale and use of proceeds?
A: GEO has entered a purchase and sale agreement for the Coleman Hall facility, slightly below book value, and recognized the difference in the quarter. They expect the transaction to close by the end of the year or early next year.

Vera Watch Product Adoption
Q: How is the Vera Watch product performing?
A: The Vera Watch has seen primary interest from ISAP participants, with numbers exceeding 5,000 users. It's functioning well and being well received due to being lighter and less cumbersome. Trials are also occurring at local levels in the criminal justice system, though it's still early days for the product. GEO has good expectations for its adoption.

Expectations for Adelanto Facility
Q: What is the likely outcome at Adelanto facility?
A: GEO is hopeful for a legal settlement to resume intake at the Adelanto facility. The original intake restriction was due to COVID concerns, which have since dissipated. There is no medical or health care reason for the restriction, and it's the only facility in the country with such a limitation.

Capital Returns to Shareholders Post Debt Refinancing
Q: Will capital be returned to shareholders post debt refinancing?
A: GEO is considering returning capital to shareholders in 2025, once they have greater visibility into the objectives of the new administration and how GEO fits into those objectives. Their first focus is on deleveraging and achieving internal debt targets.

Potential Expansion of ISAP Under House Appropriations Bill
Q: Can GEO service the possible ISAP expansion?
A: GEO acknowledges that expanding the ISAP program to up to 6 million participants would be complex and resource-intensive. However, they have field offices ready to expand, necessary technology, and are prepared to accommodate whatever growth ICE and a new administration might require.

Political Acceptance of Vera Watch
Q: Does Vera Watch face less political opposition?
A: While GEO can't speak for those in opposition, they suppose that the Vera Watch is attractive because it's less cumbersome and less obtrusive than ankle monitors. It meets monitoring requirements and ensures compliance, supplemented by field office work to assist participants.

Debt Reduction vs. Capital Return
Q: How does GEO balance debt reduction and capital return?
A: GEO plans to continue focusing on deleveraging but will find the proper balance between debt reduction and returning capital to shareholders. Decisions will be based on the objectives of the new administration and business opportunities, with a possible timing of mid to late next year.