Centennial Academy

Finance Committee

Regular Meeting - Wednesday March 20th, 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 Committee 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 March 20, 2024

Committee members Renee Glover, Chair (in person) and Eric Pinckney (via phone) attended the meeting. Committee members, Allison Toller and Derrick Gervin, were not able to attend the meeting. Jessica Olowoyo, head of school, Steven Pressas, chief financial oGicer, and Julien Siah, head of operations, were in attendance to support the Committee. Ms. Glover called the meeting to order at 11:45 AM. She acknowledged that a quorum was not present and therefore, no formal action could be taken by the Committee.

FACILITIES

Extensive discussion was had concerning various facilities matters. Mr. Pressas reported on the status of the roof replacement project and stated that he had spoken with officials from the Atlanta Public Schools (APS) and no substantial progress had been made. He stated that APS indicated that the project may be further delayed until late summer. He also stated that APS would only repair about 35% of the roof. Ms. Olowoyo, Mr. Siah and Mr. Pressas confirmed that more areas in the roof were damaged and leaking.

Ms. Glover requested that Mr. Pinckney contact Larry Hoskins, executive director of Facilities at APS, to discuss the scope and status of the roof replacement project. Mr. Pinckney stated that he would follow up. Mr. Pressas stated that he had spoken with several members of the APS facilities team. Mr. Pinckney suggested that the APS team be invited to come out to CA to reinspect the roof.

Extensive discussion was had concerning plans regarding the possibility of constructing a new CA middle school.

Discussion was also had concerning the new lease agreement required to be entered in connection with the renewal of CA’s Charter agreement. Ms. Olowoyo stated that APS is planning to standardize a new form of agreement for all APS Charter Schools. The comments are due on or before April 10th.

FINANCIAL REPORTS

Mr. Pressas stated that he had circulated the unaudited financial reports for the eight months ended February 29, 2024. Mr. Pressas also stated that CA’s financial position remains strong, and CA continues to be in compliance with CA’s Charter financial performance standards as of February 29, 2024. Ms. Glover asked that any comments on the February financial reports be given to Mr. Pressas so that the Minutes and the February financial reports could posted by the end of this week.

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 12:50pm.

The Meeting was Adjourned

The meeting adjourned at approximately 11:32 am

Motion to adjourn

There was no notable discussion on the motion.