Motion to approve the agenda with the addition of a Quorum Verification category
By: Traquita Lee Seconded by: Dr. Brian Merritt
There was no notable discussion on the motion.
DeKalb Preparatory Academy
Finance Committee
Regular Meeting - Monday July 20th, 2026 @6:30 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Mr. Wayne Dennis | present member | On Time | At Adjournment |
| Ms. KathyAnn Young | not present Non-voting Administration | ||
| Traquita Lee | present member | On Time | At Adjournment |
| Diane Mingo | present chair | On Time | At Adjournment |
| Dr. Brian Merritt | present ex-officio | On Time | At Adjournment |
| Mr. Malcom Brown | present member | On Time | At Adjournment |
| Robert Whigham | present member | On Time | At Adjournment |
| Ms. Evelyn Guyton | present member | On Time | At Adjournment |
Welcome and Call to Order
The meeting was called to order at 6:30 p.m.
Approval of Agenda
Approve Minutes
Approve minutes from the last meeting.
Motion to approve the minutes from the June Finance Committee meeting which included the April and May 2026 Financials.
By: Traquita Lee Seconded by: Dr. Brian Merritt
There was no notable discussion on the motion.
QUORUM VERIFICATION
Ms. Mingo identified attendees to verify the quorum. A quorum was verified.
June 2026 Financials
Ms. Lee presented the June 2026 financial snapshot, explaining that actual revenue was lower than budgeted due to a QBE earnings adjustment and leadership changes requiring salary adjustments and new hire bonuses. The organization ended the fiscal year with a deficit of $103,442, primarily due to these factors and summer school fund adjustments. Ms. Lee outlined next steps including posting remaining journal entries, preparing for an audit with a September draft deadline to meet the November 1st submission requirement, and noted that most budget overages were tied to salaries rather than specific program categories.
The committee reviewed financials and vendor payments over $5,000 for June, with Ms. Lee presenting a total of $775,723.62 in such payments. She explained that two Kaiser payments appeared in June due to the month ending short and processing on June 1st due to a holiday, and noted that Everon payments occur quarterly. No questions or concerns were raised regarding the vendor payments.
Other Business
The Finance Committee approved a $13,753 change order for additional painting work at the middle and elementary schools that was not originally included in the approved $3,000 painting project. The additional work included touch-up painting in elementary hallways, the front office, middle school bathrooms, and other areas identified during the original painting process. The committee noted that while the total exceeds the original board approval, the costs are allocated within the repair budget and will be tracked to ensure no overspending occurs before any necessary budget amendment.
The Meeting was Adjourned
The meeting adjourned at approximately 6:57 pm
Motion to adjourn
By: Dr. Brian Merritt Seconded by: Mr. Wayne Dennis
There was no notable discussion on the motion.