The Main Street Academy

Finance Committee

Regular Meeting - Tuesday April 17th, 2018 @6:00 PM

Meeting Minutes

Attendance Summary

Name Status Arrival Time Departure Time
Tony Morrison present On Time At Adjournment
Jennifer Fine not present
Erin Rodgers present On Time At Adjournment
Bianca Motley Broom not present
Laura Calloway not present
Cheryl Parker present On Time At Adjournment
Virginia Smith present On Time At Adjournment
Dr. DeAndre S. Pickett present On Time At Adjournment
Kimnese Abdul-Salaam not present

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

By: Virginia Smith Seconded by: Dr. DeAndre S. Pickett

There was no notable discussion on the motion.

PTO Financial - Financial Updates

Financial Review

  • FY18 YTP Financials - July 1, 2017 - March 31, 2018 (Avalon)
       -  In March 2018, our budgeted income was $715K and our actual income was $830K. We were over budget by $114K due to fundraising and student income $97K not in budget.
       - In March 2018, our budgeted expense was $683K and our actual expense was $759K. We were over budget by $75K.
       - In March 2018, we have a surplus of $71K, YTD surplus $797K.
       - A final time table has been prepared and our goal is to have the final budget draft ready by the end of April 2018.
       - We have 164 days cash on hand.
  • Teacher Retirement System Review
       - We met with 14 faculty members thus far and we have received good responses from the staff thus far. We still have a number of staff members to have discussions with. 
  • Payroll Services Update
      -  The first payment has been created. 
  • FY19 Budget Planning
         - Hiring Planning

Fundraiser.Sponsorship, & Grant Updates

  • 5k/10k Run/Walk - Updates - May 5th
      - Comfort Systems is our major sponsor

Facility Improvements

  • HVAC/Boiler - Updates.                                                                                               -  Comfort Systems are working to update the systems and waiting on the equipment to arrive.
  • LED Light Proposal - by Net Zero USA
       - Mike Oetinger, VIce President of Corporate Sales
       - Ryan Nikitin, GM of Atlanta

Presentation was made on the new efficient lighting system and proposal for the energy savings with the TMSA buildings.
  • Future Capital Improvement Projects
        - Conversations around new projects were discussed on what we can use the surplus for. 

Approval of Minutes

Approval of Minutes for March 2018

Approval of Minutes for the month of March 2018

By: Virginia Smith Seconded by: Tony Morrison

There was no notable discussion on the motion.

Approval of Minutes for the month of March 2018

By: Virginia Smith Seconded by: Tony Morrison

There was no notable discussion on the motion.

The Meeting was Adjourned

The meeting adjourned at approximately 7:57 pm

Motion to adjourn

By: Virginia Smith Seconded by: Tony Morrison

There was no notable discussion on the motion.

The Meeting was Adjourned

The meeting adjourned at approximately 7:57 pm

Motion to adjourn

By: Virginia Smith Seconded by: Tony Morrison

There was no notable discussion on the motion.