The Main Street Academy

Finance Committee

Regular Meeting - Tuesday June 21st, 2022 @6:00 PM

Meeting Minutes

Attendance Summary

Name Status Arrival Time Departure Time
Kimnese Abdul-Salaam present viewer On Time At Adjournment
Virginia Smith not present ex-officio
Bridgett Bell present member On Time At Adjournment
Mitch Foster II present chair On Time At Adjournment
Laura Calloway not present member
Brittany Dunn not present member
Tequila Douglas not present Non-voting Administration
Ishmael Abdul-Salaam present member On Time At Adjournment
Dr. Kimberly Walker-Browner present member On Time At Adjournment
Dr. Chad Owes not present member

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.

As prented.

By: Kimnese Abdul-Salaam Seconded by: Bridgett Bell

There was no notable discussion on the motion.

Report from Finance Committee

The Finance Committee met on Tuesday May 24th, 2022 @6:00 PM for what was scheduled to be a 0 hours and 40 minutes long meeting. Present: Kimnese Abdul-Salaam, Virginia Smith, Bridgett Bell, Mitch Foster II, Ishmael Abdul-Salaam, Kim Walker Not Present: Laura Calloway, Brittany Dunn, Tequila Douglas The members considered the following items: 1. Approval of Agenda 2. Report from Finance Committee 3. Financial Review The committee considered 4 motions, of which 4 passed, and 0 failed: 1. Approve the agenda as submitted (passed) 2. Approve the agenda as submitted (passed) 3. To approve summer repair budget, not to exceed $20,000. (passed) 4. To approve mortgage debt to Fulton County retirement in full; $653,311.00 (passed) The meeting adjourned at 7:12PM

Approve as submitted

By: Ishmael Abdul-Salaam Seconded by: Kimnese Abdul-Salaam

There was no notable discussion on the motion.

Financial Review

  • FY22 Budget Update

Discussed that the mortgage payoff is less than previously approved.

  • FY23 Recruitment
  • Personnel Retention
  • Curriculum Updates

Proposal voted at ASPC to increase curriculum budget by $150K. The committee discussed the needs for this additional funding at length and supports the principal's request, but at this time will table the request in consideration of other budgetary items in flux.

  • One Time Stipends

Notice received this morning that funds will be dispersed to the school, but they are not verified in our account yet. See motion to authorize Executive Director to distribute.

  • PTO/Fundraiser/Facilties Update
  • Voting Items

Increase curriculum budget not to exceed $450,000.

See notes.

Amend the mortgage payoff request from last month to $592,750 in lieu of $653,311.

There was no notable discussion on the motion.

Update the agenda to include another motion for Govern's Stipend distribtuion.

By: Mitch Foster II Seconded by: Bridgett Bell

There was no notable discussion on the motion.

Authorize the Executive Director to distribute the Govern's Stipend as appropriate, in consult with the principal.

By: Mitch Foster II Seconded by: Bridgett Bell

There was no notable discussion on the motion.

PTO Financials

None to discuss.

The Meeting was Adjourned

The meeting adjourned at approximately 6:40 pm

Motion to adjourn

By: Mitch Foster II Seconded by: Bridgett Bell

There was no notable discussion on the motion.