Centennial Academy

Finance Committee

Regular Meeting - Wednesday February 14th, 2024 @11:30 AM

Meeting Minutes

Attendance Summary

Name Status Arrival Time Departure Time
Renee Glover present chair On Time At Adjournment
Aquaria Smith not present member
Allison Toller not present member
Eric Pinckney present Non-voting Administration On Time At Adjournment
Steve Pressas present Non-voting Administration On Time At Adjournment

Finance Meeting Minutes

MINUTES OF THE MEETING OF THE BUDGET, FINANCE AND FACILITIES COMMITTEE (COMMITTEE) OF THE BOARD OF DIRECTORS OF CENTENNIAL PLACE ACADEMY, INC. (CA) HELD ON FEBRUARY 14, 2024

Committee Members Renee Glover, Chair, and Eric Pinckney attended the meeting, virtually. Steve Pressas, Chief Financial Officer, and Julien Siah, Head of Operations, were also in attendance to support the Committee. Allison Toller and Derrick Gervin were not able to attend the Meeting. Ms. Glover acknowledged that a quorum was not present and called the meeting to order at 11:35am.

FACILITIES, CA’s FINANCIAL REPORTS FOR THE SEVEN MONTHS ENDED JANUARY 31, 2024; CURRENT STUDENT COUNT.

FACILITIES

Extensive discussion was had concerning various facilities matters. Mr. Pinckney, Mr. Pressas and Mr. Siah provided an update regarding various options for facilities for the Middle School campus. They are continuing to explore options. The latest developments will be reviewed in Executive Session at the next Board of Directors meeting on February 26, 2024. In response to a question regarding adequacy of security at the building and learning lofts, Mr. Siah reported that APS was constructing, at its expense, a vestibule, at the front entrance of CA that would allow screening of visitors before gaining access to the building. APS is implementing security upgrades at all of its buildings. In response to a question from the Chair regarding the status of the roof modernization project, Mr. Pressas stated that APS is recommending that only about 35% of the roof would be repaired, instead of modernizing and repairing the entire roof. The Chair stated that after approximately one and half years of scope review, negotiations, and procurement-related delays, a partial repair was totally unacceptable. The Chair asked Mr. Pressas to work with Mr. Pinckney to better understand the situation.

FINANCIAL REPORTS

Mr. Pressas reported that he had circulated the unaudited financial reports for the seven months ended January 31, 2024. Mr. Pressas stated that CA’s financial position remains strong, and CA continues to be in compliance with CA’s Charter financial performance standards as of January 31, 2024. He went on to state that CA is continuing to monitor its student count. He stated that the student count, enrollment and marketing will continue to be areas of focus for the balance of the 2023-2024 School Year. The Chair asked that the Committee members provide any further comments to January 2024 financial reports to Mr. Pressas.

Because of the absence of a quorum, no formal action was taken by the Committee on any of the foregoing matters.

The Meeting was adjourned at 12:15pm.

The Meeting was Adjourned

The meeting adjourned at approximately 12:45 pm

Motion to adjourn

There was no notable discussion on the motion.