Welcome and Call to Order and Ascertain a Quorum

The meeting was called to the order by Roberta Walker at 5:42 p.m.

Ascertain a Quorum – 5:42 p.m.

Roberta Walker - present

Wanda McKay –present

Suzette Arnold - present

Janelle Wilhite –not present

Tamseel Syed – not present

Wanda Brooks-Long, Ex-Officio - present

Approval of Agenda

So that there is agreement between board members on the agenda, and the amount of time spent on the meeting, the board shall vote to approve an agenda for the meeting. To the best of its ability, it will follow that agenda, and allow for the chair to move the board through the agenda as specified.

Committee Reports

Committee Reports

Finance Committee –

Candy Yu presented the monthly Financial Report. December financials are being presented. The focus has been on both year-end compliance reports, grant completion and audit prep. The two major challenges facing the Finance team are multiple deadlines, such as year-end compliance report, grant report and audit preparation, happening at the same time. Also, the Bookkeeper continues to perform tasks outside of Finance, such as Human Resources and Facilities. Once the CFO position and HR position are approved, some of those tasks can be moved off the Bookkeeper and she can focus more on Finance tasks.

Recommendations moving forward are the financial policy, credit card policy and review of finance committee meeting time to allow realistic closing time schedule. This month we were able to close on

December’s monthly budgeted revenue is $633,000 and the actual revenue is $502,000. We are under by $130,000 due to being behind on the drawdowns for September, October, November. We have received $134,000 in ESSR reimbursements and will continue to receive reimbursements.

December monthly expenses were $589,000 and actual expenses were $594,000. Over budget by $4,000 due to personnel turnover.

The fiscal year to date (December 2022) budgeted net surplus of $259,000.000 and the actual net surplus is $210,000. We are under budget by $49,000.

The requested Financial statement revisions were completed:

June 2022-Add the cost analysis and expense type.

July 2022 -Add the vendor payments over $5,000

September 2022 – Add the YTD vendor transaction details

November 2022 – Add the revenue analysis details

Budget Amendment is completed.

Cash Flow – The cash balance is $4.3M. Cash on hand is 460 days with unrestricted funds based on SCSC calculation. There are 514 days cash on hand based on prior 12 months of expenses.

Systems and Process – conducted research and evaluation of procurement software and provided recommendations. Streamlining bookkeeper tasks to improve overall efficiency. Streamlined AP bill receiving, approval and payment issuance turn around time. Streamlining the payroll approval process with ADP.

Grants – ESSR III and Title I FY23 drawdowns have begun. The county has made a lot of changes regarding the ESSR III document submission process.

Ms. Yu provided and reviewed the Financial Snapshot (Cost analysis per category and revenue analysis per category), Balance Sheet, Budgeted vs Actual Summary projection, Budgeted vs Actual Details, Vendor payments over $5,000, All vendor payments YTD, General Ledger report.

Discussion regarding the DPA process for making projections.

Actions from Finance Committee:

School Inventory Policy and School Inventory Review. The board asked that a full inventory be conducted and provided to the board. Has the inventory matched the expenditures aligned to the inventory. Ms. Arnold asked if the school can account for every penny. Dr. Brooks-long responded that

the school can account for every penny. There are items identified on the inventory listing that the school has not been able to locate in the amount of approximately $10,238.21. Ms. Arnold requested that Dr. Brooks-Long forward a document to the board denoting that there is $10,000 worth of equipment missing and that the school is attempting to locate it. The school is currently going through the process of looking at obsolete equipment and conducting the C-50 process (through Title I and other grants) of having the obsolete equipment removed. Ms. Arnold asked where is the obsolete equipment being stored?

Ms. Arnold requested that the board be made aware when the equipment is going to be removed from the building. The obsolete equipment is currently in the old Technology Classroom and the check- off process is currently underway.

Discussion regarding which items will be included in consent agenda:

37-1-24-2023 School Inventory Policy and School Inventory Review-Consent Agenda 1

45-9-27-2022 Final Revision of the Finance Policy – recommended change: to increase the purchase limit from $5,000 to $10,000 prior to board approval. This item will go to February Finance Committee.

49-1-24-2023 Budget Adjustment to support salary adjustments and teacher stipends-Consent Agenda 2

75-11-29-2022 Barrier Gates – Consent Agenda 3

41-10-25-2022 One Identity Email Services – Consent Agenda 4

40-9-27-2022 Painting Classrooms and Hallways -Consent Agenda 5

42-1-24-2023 Procurify Software – Purchasing – Consent Agenda 6

41-11-29-2023 Staff Salary Adjustments – Consent Agenda 7

44-9-27-2022 Teacher Pay Supplement – Consent Agenda 8

45-1-24-2023 – 48-1-24-2023 Extra Duty Stipends for individuals will be discussed in Executive Session at the Governing Board Meeting

40-1-24-2023 Approval to expend the Facilities Grant -removed from today’s agenda

41-1-24-2023 Approval of Financial Statements will be approved in the Governing Board Meeting

Adjourn

Ms. Walker adjourned the Work Session and moved into the regularly scheduled January Governing Board meeting at 6:30 p.m. with no objection from the board members.

The Meeting was Adjourned

The meeting adjourned at approximately 12:54 pm