Motion to approve the agenda
By: Dr. Lenise Bostic Seconded by: Dr. Brian Merritt
There was no notable discussion on the motion.
DeKalb Preparatory Academy
Finance Committee
Regular Meeting - Tuesday October 21st, 2025 @6:30 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Mr. Wayne Dennis | present member | 15 Minutes Late | At Adjournment |
| Ms. KathyAnn Young | present Non-voting Administration | On Time | At Adjournment |
| Dr. Lenise Bostic | present member | On Time | At Adjournment |
| Dr. Brian Merritt | present member | On Time | At Adjournment |
| Traquita Lee | present member | On Time | At Adjournment |
| Diane Mingo | present chair | On Time | At Adjournment |
Call To Order
Meeting was called to order and a quorum ascertained by Diane Mingo
Approval of Agenda
APPROVAL OF MINUTES
Motion to approve minutes from the September Finance Committee meeting
By: Dr. Lenise Bostic Seconded by: Dr. Brian Merritt
There was no notable discussion on the motion.
September Finance Report
September 2025 Financial Performance Review
The finance meeting reviewed the September 2025 financial report, which showed a net surplus of $44,715 for the period July 1st to September 30th, and a surplus of $30,806 for September alone. The total cash on hand at the end of September was $4,609,122.28, with 193 days of cash on hand based on prior year expenses. The meeting also discussed the budget categories, expense allocations, and a new addition of best practice model percentages for instruction, admin, and facilities.
September Financial Reports Review
The board reviewed September's financial reports, noting a discrepancy in payroll liabilities due to a duplicate journal entry that was addressed with auditors. Dr. Bostic moved to accept the financial reports, which were seconded by Dr. Merritt. The board then discussed hiring a school business administrator, though the specific order of agenda items was debated.
Motion to accept the Financial Report
By: Dr. Lenise Bostic Seconded by: Dr. Brian Merritt
There was no notable discussion on the motion.
Compensation Review
The board approved a compensation policy realignment for instructional staff, which will cost $199,269.88 and place employees on the correct salary steps based on their certification status. Ms. Young inquired about the status of a lawyer's statement regarding retroactive compensation for employees,
Motion to approve the compensation policy
By: Dr. Lenise Bostic
There was no notable discussion on the motion.
Audit Update
The board reviewed and accepted the draft audit report and approved corrective actions for material weaknesses identified in the audit. The finance team discussed that there was an unmodified opinion with no findings, which was an improvement from the previous year when there were two findings.
Motion to accept the audit report
By: Dr. Lenise Bostic Seconded by: Mr. Wayne Dennis
There was no notable discussion on the motion.
Other Business
Ms. Lee clarified that Wanda Griswold's recent experience was primarily in finance and budgeting, not HR, and a motion was approved to hire her as School Business Administrator at $93,076.20.
The group also approved a salary adjustment of $4,910.68 for Kiamber Williams, who received her certification in August 2023.
The board approved a budget amendment of $1,284,532 to cover various adjustments including facility repairs, salary adjustments, and additional funding for substitute teachers and computer repairs.
They also approved the replacement of a 1988 boiler system with a new high-efficiency boiler for $106,000 through HVH Mechanical, and the replacement of four WSHP units for $62,500.
The board approved a dishwasher rental agreement with Ecolab for $130 monthly plus $225 monthly in chemical products, and approved insurance renewal with Kaiser Permanente for $37,693.08, representing a 10% increase in medical premiums
Motion to approve the hire of Wanda Griswold as School Business Administrator at a total cost of $93, 076.20 (salary and fringes).
By: Dr. Lenise Bostic Seconded by: Traquita Lee
There was no notable discussion on the motion.
Motion to approve a salary adjustment for Kiamber Williams in the amount of $4,910.68
By: Dr. Lenise Bostic Seconded by: Mr. Wayne Dennis
There was no notable discussion on the motion.
Motion to approve a budget amendment in the amount of $1,284, 532
By: Dr. Lenise Bostic Seconded by: Mr. Wayne Dennis
There was no notable discussion on the motion.
Motion to approve a high-efficiency boiler through HVH for $106k.
By: Mr. Wayne Dennis Seconded by: Traquita Lee
There was no notable discussion on the motion.
Motion to approve the replacement of 4 WSHP units for $62,500.
By: Mr. Wayne Dennis Seconded by: Dr. Lenise Bostic
There was no notable discussion on the motion.
Motion to approve a dishwasher rental agreement with Ecolab for $130 monthly plus $225 monthly in chemical products for a total of $4260.
By: Mr. Wayne Dennis Seconded by: Dr. Lenise Bostic
There was no notable discussion on the motion.
Moiton to approve the renewal of medical insurance provider, Kaiser Permanente for $37, 693.08.
By: Traquita Lee Seconded by: Dr. Lenise Bostic
There was no notable discussion on the motion.
Adjournment
Motion to adjourn the meeting at 7:42 p.m.
By: Dr. Lenise Bostic Seconded by: Traquita Lee
There was no notable discussion on the motion.
The Meeting was Adjourned
The meeting adjourned at approximately 7:42 pm
Motion to adjourn
By: Dr. Lenise Bostic Seconded by: Traquita Lee
There was no notable discussion on the motion.