Ivy Preparatory Academy

Finance Committee

Regular Meeting - Tuesday August 13th, 2024 @6:00 PM

Meeting Minutes

Attendance Summary

Name Status Arrival Time Departure Time
Ms. Leslie Purifoy Plunkett (board secretary) present member On Time At Adjournment
Attorney Kristie Battle (board treasurer) not present chair
Mrs. Laticia Sharp (NON-voting; Chief Financial Officer) present ex-officio On Time At Adjournment
Dr. Tunisia Cornelius (Community Member) present member On Time At Adjournment
Dr. Tunisia Cornelius (Board Member) present member On Time At Adjournment

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 the agenda as submitted

There was no notable discussion on the motion.

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.







Policy Review

N/A


Adjournment

Meeting Adjourned - Committee Chair

Welcome and Call to Order

Meeting Called to Order - Committee Chair


Meeting was called to order at 6:03pm

The Meeting was Adjourned

The meeting adjourned at approximately 7:05 am

Motion to adjourn

By: Dr. Tunisia Cornelius (Board Member) Seconded by: Ms. Leslie Purifoy Plunkett (board secretary)

There was no notable discussion on the motion.