Approve the agenda as submitted
By: Janelle Wilhite Seconded by: Heather Robinson
A comment was made by Ms. Wright that there were additions to other business in the agenda.
DeKalb Preparatory Academy
Finance Committee
Regular Meeting - Tuesday October 19th, 2021 @5:30 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Janelle Wilhite | present chair | On Time | At Adjournment |
| Suzette Arnold | not present member | ||
| Susan Wright | present secretary | On Time | At Adjournment |
| Carla Pettis | not present member | ||
| Heather Robinson | present member | 120 Minutes Late | At Adjournment |
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.
Review September Financial Statements
Review Finance Reports. The September financials were reviewed and it was discussed that the financials must reflect the anticipated Cares Act II and Esser III that we plan to spend not just in the projected variance but reflecting the information in the expenditures noting awaiting approval from DCSD. Additionally there are 2 areas that are high in expenditures for the first quarter of our fiscal year. Substitute costs are high and mops repair and maintenance services are at 107%
Update on credit card policy/other policies
Discussion on credit card policy to review and update and provide a copy of the financial policies as is to the finance committee for review. Also discussion that we received 2 credit cards in the U.S. mail. One in my name S. Wright and the other one was not opened although addressed to S. Arnold.
Update on bank account/investment options
Discussion was held on bank account investment options. A discussion of the brief conversation held with Chase bank on the question of how much risk are we willing to assume. We are to look at what other schools are doing so we can benchmark best practices. I will reach out to colleagues in the industry.
Other business
Request signature on form 990 taxes received from Bambo Sonaike Auditor of record.
Have a discussion on HB146 new legislation on FMLA paid family medical leave act regarding paternity leave. https://youtu.be/WG0PPuhu9Ew
Approve Minutes
Approve minutes from the last meeting.
Adjournment
The meeting was adjourned at 7:48pm
Motion to adjourn the meeting at 7:48 pm
By: Susan Wright Seconded by: Janelle Wilhite
There was no notable discussion on the motion.
The Meeting was Adjourned
The meeting adjourned at approximately 1:14 pm
Motion to adjourn
By: Susan Wright Seconded by: Janelle Wilhite
There was no notable discussion on the motion.