Motion made to approve the agenda with a modification of the removal of the financial presentations for RHCS and RHMA.
By: Khaliff Davis Seconded by: Nelmaris Alvarez
There was no notable discussion on the motion.
Resurgence Hall- Resurgence Hall Charter School (K-4) Resurgence Hall Middle Academy (5-8)
Committee of the Whole
Regular Meeting - Wednesday January 24th, 2024 @6:30 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Stephen Pritchett | not present member | ||
| Paula Murphy | present member | On Time | At Adjournment |
| Nelmaris Alvarez | present member | On Time | At Adjournment |
| Khaliff Davis | present member | On Time | At Adjournment |
| Natasha Fenili | not present member | ||
| Tony Jones | present member | On Time | At Adjournment |
| Michael Daniels | not present member | ||
| Tori Jackson Hines | not present member | ||
| Blossom Barker | not present member |
Welcome and Call to Order
The meeting will be called to the order at 6:33 pm.
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.
Approval of Minutes
Motion made to adopt and approve the minutes from the November 29, 2023 Committee of a Whole meeting as written.
By: Nelmaris Alvarez Seconded by: Khaliff Davis
There was no notable discussion on the motion.
Discussion RE: Finance Committee
South State Presentation
Investment
- South State Banking, Adrienne and Chase- How can we invest?
- Opportunity- Excess operating reserve
- Challenge- GA restricts how charter schools can invest
- Solution Options- Money Market, Certificate of Deposit, T-Bill
- Estimate for investing $2M- 4% APR, $2M 7 Month CD- 4.75% APR, T-bill Short terms
- Money market includes 6 monthly complimentary withdrawals and is the most liquid, high yield option
- Currently on 1 school leveraging the T-bill option
- Treasury Bill- money into US government bond, and at the end of the term the US will pay back the principal and interest, rates are based on supply and demand
- The recommendation is to hold the money market and the CD
- Rates are currently 4.9
- Money Market- no fees
- CDs- no minimum, termination fee
- T-Bill- $30/year, 5$ fee for paperwork
Adjournment
Motion made to adjourn the Committee of a Whole meeting at 7:00 pm.
By: Nelmaris Alvarez Seconded by: Khaliff Davis
There was no notable discussion on the motion.
The Meeting was Adjourned
The meeting adjourned at approximately 7:00 PM
Motion to adjourn
By: Nelmaris Alvarez Seconded by: Khaliff Davis
There was no notable discussion on the motion.