Board recordsIvy Preparatory Academy
Ivy Preparatory Academy · Finance Committee

Minutes: Regular Meeting

Tuesday, August 13, 2024 at 6:00 pm 1807 Memorial Dr. SE
Approved All documents for this meeting

Attendance: 4 present · 1 absent

  • Dr. Tunisia Cornelius (Board Member)
  • Dr. Tunisia Cornelius (Community Member)
  • Mrs. Laticia Sharp (NON-voting; Chief Financial Officer)
  • Ms. Leslie Purifoy Plunkett (board chair)
  • Attorney Kristie Battle (board treasurer) · not present

  1. 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.

    Motion No vote recorded

    Approve the agenda as submitted

  2. Finance Committee Work Session

    CFO Updates


    2024-2025 Enrollment:

    Budget - 449

    Actual - 446


    CFO Strategic Planning

    Review of Objectives

    • Objective 5 - Strengthen Financial Foundation
    • Optimize revenue-generating streams that share IPA campus with the broader community
    • Encourage Governing Board engagement with public, private, philanthropic and granting partners to increase financial and in-kind support where there is mutual alignment between IPA and partners.
    • Explore asset valuation strategies to increase CPF performance and better position IPA for renewal

    Review of Prior Year Goals

    1. Near-Term measures - The Chief Financial Officer will prepare and present to the board a proposed budget covering all estimated revenue and proposed expenditures for the fiscal year.
    2. Sustainability measures - The Chief Financial Officer will prepare and present to the board a three-year (prefer 5-Year) budget projection covering all estimated revenues and proposed expenditures of the school to include Debt Reduction Plan. Should include fundraising proceeds to go directly toward debt reduction.
    3. Sustainability measures - The Chief Financial Officer will prepare and present to the board a three-year (prefer 5-Year) enrollment (prefer 5-Year) projection to enable the school to operate adequately.







  3. Policy Review

    N/A


  4. Adjournment

    Meeting Adjourned - Committee Chair

  5. Welcome and Call to Order

    Meeting Called to Order - Committee Chair


    Meeting was called to order at 6:03pm

  6. The Meeting was Adjourned

    The meeting adjourned at approximately 7:05 am

    Motion Carried

    Motion to adjourn

    Moved by Dr. Tunisia Cornelius (Board Member), seconded by Ms. Leslie Purifoy Plunkett (board chair)