Report from Finance Committee

The Finance Committee met on Tuesday June 21st, 2022 @6:00 PM for what was scheduled to be a 0 hours and 56 minutes long meeting. Present: Kimnese Abdul-Salaam, Bridgett Bell, Mitch Foster II, Ishmael Abdul-Salaam, Kim Walker Not Present: Virginia Smith, Laura Calloway, Brittany Dunn, Tequila Douglas The members considered the following items: 1. Approval of Agenda 2. Report from Finance Committee 3. Financial Review 4. PTO Financials The committee considered 7 motions, of which 4 passed, and 0 failed: 1. Approve the agenda as submitted (proposed) 2. As prented. (passed) 3. Approve as submitted (passed) 4. Increase curriculum budget not to exceed $450,000. (tabled) 5. Amend the mortgage payoff request from last month to $592,750 in lieu of $653,311. (proposed) 6. Update the agenda to include another motion for Govern's Stipend distribtuion. (passed) 7. Authorize the Executive Director to distribute the Govern's Stipend as appropriate, in consult with the principal. (passed) The meeting adjourned at 6:40PM

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.

Financial Review

Welcome Dr. Owes as the new Execute Director, Special thanks to Virginia for her tenure and service.

General Updates:

• Final Mortgage Payment made: Title is in process, subject to an open lien dispute.
• Janitorial Services contract is up for review at an internal meeting with management later this month.
• Wifi and intercom in basement is still under way - delayed due to supply chain issues.

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• FY22 Budget Update
• Audit will commence shortly for the closed year.
• Virginia will support as a contractor to the close of our audit.
• Ended the year under beget for income. QBE Funding arrived on 5/30 causing the increase.
• Meeting or exceeding all minimum financial metrics (GA DOE and SCSC)
• FY23 Recruitment
• Received SFA Funds - $21,887
• ED Recommends that we move to the most recently issued Fulton Teacher Salary Scale.
• It is anticipated that the QBE budget will increase from the tentative budget as posted.
• However, Cares Act Funding is not likely to to continue in future years. This could hinder sustaining this increase in following terms.
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• Personnel Retention and Staffing
• We currently have 10 vacancies. Will continue the $200 employee referral program.
• New Role - Director Of Curriculum Instruction and innovation
• Curriculum Updates
• None
• -BTTS School Improvement Proposal  (Principal)
• Continuation of Service request from Principal Abdul-Salaam.
• Presentation from Dr. Walton regarding last years' successes, and a presentation on the 2nd year plan (~$150K in the next budget).
• Noted that BTTS cannot start any services until approves any work.
• -Increased Principal approval spending amount. (Currently $10,000)
• Discussed - see motion notes.
• PTO/Fundraiser/Facilities Update
• PTO -None
• Fundraising -None
• Facilities:
• RFP Replacing stairs for the garden level of the building (previously a basement).
• RFP - Replacement or update of HVAC.
• Full consideration for recent investments, and will be taken under review.
• RFP - Potentially - For Janitorial Services.
• Voting Items

The Meeting was Adjourned

The meeting adjourned at approximately 8:02 pm