Welcome and Call to Order

The meeting will be called to the order, beginning with the pledge of allegiance.

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.

Approve Minutes

Approve minutes from the last meeting. which was November since there was no December meeting.

Review December Financial Statements

Financials – Susan presented dashboard – Month of December ending the 31^st. Bank reconciliation saved to the end of presentation.

45% of revenue received; 86% cash ratio – No debt

$438,336 average expenditure per month year to date as of December 31st and our $437,754.89 QBE

Our cash on hand greater than 6 months

Year to date we have received 45% of revenue and - 85% percentage of the revenue was spent on personnel costs; 7% on facilities

received 45% of QBE YTD of $5,192,636.61

Ms. Wilhite – Why do we need to wait until February to amend the budget? We should amend budget once we receive QBE?

Ms. Wright stated that we just received our QBE based on the 4th Wednesday count in the November wire transfer which has increased to 437,754.89 and we are funded now on 564 students instead of 552; and she needs more time in order to look at all the areas of revenue more closely and reduce them based on 6 months of not receiving substantial revenue for Nutrition Services, we need to also reduce Title ! down to cover only the Coach and remove all inkind supplies and equipment from the total grant revenue.

Susan - Borrow – shortfall maybe $200k – We will have a major food services reduction.

Susan talked about donations/ fundraisers/ Cares Act PPE, spraying machines.

Janelle – Add projections to dashboard – Why is it only half of Title I – Susan – only for reimbursement of revenue – Also federal nutrition/ Legal

Year to date the Lease for equipment is trending very high and a meeting has been scheduled with Toshiba, Toshiba is 80% which at this time of year we should be trending right around 45-50% expenditure line item for monthly recurring costs. SW will review what did we spent last year in copier contract (Toshiba).

Ms. Arnold – Securities and Facilities grants – how are they being reflected in our budget? Why do we have grants that are not reflected in our budget? Susan – Checking on Ackerman – Facilities – to find out if we were awarded the grant, not sure if the grant is a reimbursing grant or a Direct check payment for the grant award.

Ms. Arnold – Susan tell me what went on with Attorney Mr. Fortson over payment of 27K? What were the past due invoices from Sept. Susan replied the invoice request was in error. Received email from Mr. Fortsons office stating it was in error. Levee said it was an error, we owe them 7K.

Ms. Arnold – Janitorial Contract – Payment for last 3 months. Entire month of November no one was in the building; no food services – for what – change locks. Susan, I will send his invoice to you to see. 

Suzette – Being there is not enough – We have security – what is he doing? During a pandemic when no one is there why are we paying him ? Short month, not in building on Fridays. Look at all contracts that we are not getting the most out of.

Janelle – Send next invoice courtesy FYI for the board. Why did we purchase janitorial supplies in November? Janitor not supposed to purchase supplies.

Shortfall could be $241,000

Adjust down food service Conversation $70k or 65K

Stimulus Grants – Watkins – pay close attention from development – How is finance working with development?

Janelle – Place projections on the dashboard so the board knows how to approve activities; make decisions

Cost per student – star efficiency rating

Review Goals

Link – Goals – Make sure we develop and prepare an annual budget

                               Make sure we have a facility plan

                               Review and update policies

                               Develop an investment strategy

Ms. Arnold – We have 100ks in Chase bank and not making any money off of it. Diversify funds to reduce risks as soon as possible.

Susan – Sweep account – high yielding money market

Other Business

No other business at this time

The Meeting was Adjourned

The meeting adjourned at approximately 9:19 pm