Welcome and Call to Order

The meeting will be called to the order.

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.

Review Financial Statements

Traquita Lee provided a detailed review of the July 2024 financials, noting that the data was pulled from QuickBooks. Janelle Wilhite raised concerns about the cash on hand and how long the organization can sustain before running out of funds. Ms. Lee emphasized the importance of financial forecasting to avoid this issue and mentioned that she would focus extensively on forecasting in the future. The presented figures were taken from QuickBooks on August 18, 2024. Ms. Lee also noted that she is working to ensure the financial books are fully closed before finance meetings to provide more accurate data. Janelle Wilhite requested that the budget be shown on the left, actual figures on the right, along with any overages. She also asked for a summary snapshot of the approved budget categories, such as salaries and equipment.

Janelle Wilhite requested an update on the budget figures, noting that the numbers presented were not the ones that had been approved. Traquita Lee responded that she would revise the budget with the correct figures. Wilhite also asked that the budget on the website be updated to match the corrected numbers in the document.

Traquita Lee then presented a spreadsheet showing vendor payments over $5,000. Wilhite questioned whether these payments were being made monthly, to which Wayne Dennis clarified that it depends on the specific case. Wilhite stated that any payments over $5,000 must be submitted to the board for approval using a board action form.

Wilhite also inquired about the status of the health insurance decision. Dr. Bostic explained that they are still considering state health care benefits, with a decision deadline set for September. Finally, Wilhite requested a report showing all vendors paid for the current month, as well as cumulative payments to vendors.

Audit

Traquita Lee mentioned that the trial balance for the audit would be ready by tomorrow, August 23, 2024, as per Ms. Candy, to initiate the audit process. The appraisal is scheduled for August 26 and 27. Randy will attend the next meeting to provide an update.

Retention & New Hire Bonuses

The total cost for the bonuses is $337,213.63 (one-time expense). The breakdown is as follows:

Certified Full-time Teachers: $6,500

Non-certified Full-time Teachers: $4,500

Other Certified Full-time Staff: $6,500

Other Certified Part-time Staff: $2,750

Classified Full-time Staff: $2,750

Classified Part-time Staff: $2,750

Other Staff Members: $2,750

Janelle Wilhite asked if there were any conditions for the bonuses. Dr. Bostic clarified that if employees do not complete the full year, the prorated bonus amount will be deducted from their final paycheck.

Wilhite also asked whether this plan had been presented to the governance committee. Kathy Ann Young questioned why it wasn't discussed in the governance committee the previous day. Dr. Bostic explained that she was only instructed to include taxes. Kathy Ann also asked if the bonus could be given during an off-cycle payroll to reduce tax deductions, to which Ms. Lee confirmed it was possible.

Janelle Wilhite requested to postpone the discussion and include it in the board update.

Wayne Dennis presented a proposal for replacing the water pumps, with HVH Mechanical being the selected vendor. He mentioned that the school is currently operating with just one water pump, as the other has failed. If the remaining pump fails, the school will need to close. Mr. Dennis noted that there are two quotes, but getting a third has been challenging because vendors are hesitant to work on the building due to its age.

Wilhite asked how they would explain to Dekalb County that they don't have three quotes. Mr. Dennis clarified that he has now received another quote. Wilhite recommended postponing the vote until the next day’s meeting when all quotes are available and attached.

Wayne Dennis also mentioned the need for IT assistance. Wilhite asked if this role was budgeted. Dr. Bostic explained that the IT contractor would be added at $2,988 per month, primarily for board meetings and technical support over a nine-month period. Suzette Arnold reminded the board that this had been approved before and questioned why the contract had been terminated and not reapproved. Dr. Bostic responded that IT support wasn't considered earlier because the amount had changed.

Arnold requested to discuss the matter in an executive session.

Executive Session

Other Business

No other business.

Adjourn

The Meeting was Adjourned

The meeting adjourned