F.A.M.E., Inc.

Minutes

FAME, Inc. Board Finance Committee Meeting Agenda

Date and Time

Saturday November 13, 2021 at 9:00 AM

Location

Audubon Gentilly Campus   
4720 Painters St. Gentilly, LA 70122

This meeting will be held in person in the Audubon Gentilly's Cafeteria
 

Committee Members Present

H. Leblanc, J. Perez

Committee Members Absent

C. Coleman

Guests Present

Darius Ed Ops, J. Anderson, K. Bourgeois, S. Corbett (remote)

I. Opening Items

A.

Record Attendance

B.

Call the Meeting to Order

J. Perez called a meeting of the Finance Committee Committee of F.A.M.E., Inc. to order on Saturday Nov 13, 2021 at 9:07 AM.

C.

Approval of Meeting Agenda

H. Leblanc made a motion to approve agenda.
J. Perez seconded the motion.
The committee VOTED to approve the motion.

D.

Approve Minutes from June 15, 2021

Motion to approve the minutes from June Finance Committee Meeting on 06-15-21.
Didn't have the minutes in front so approving next meeting
The motion did not carry.

II. Finance Committee

A.

Financial Report- Annual Quarterly Statement

Justin gave report on current financial status. Report shows on par with projections.

III. Other Business

A.

Ed Ops Financial Services Presentation

Darius from Ed Ops giving presentation on what services they'll be providing and the ways in which they are beneficial. Ed Ops works with several other schools and is very supportive with the Federal Grants. We received two proposals, and we were really impressed with them. Significant costs savings by using them. Assumes the position of CFO and Controller and saving around 117k a year with salary, benefits, etc. Works with majority of charter here in New Orleans schools: Bricolage, Sophie B. Wright, and First Line to name a few.

 

Use Audubon systems already in place such as payroll and accounting programs. They do not change anything in case contract only lasts a year, everything will still be audubon. They take on the burden of state and district reporting. They will be liaison between the school and auditor. Work with school stakeholders on budget and make proposals to board members before making any decisions or presentations. Team of 100 employees with 8 locally and all former CEOs. 
J. Perez made a motion to to recommend EdOps to Board Members.
H. Leblanc seconded the motion.
The committee VOTED to approve the motion.

IV. Closing Items

A.

Announcements

Next finance meetings moving forward; keep meetings to Tuesdays or moving them right before the board meeting? Discussion for next meetings coming up.

B.

Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:49 AM.

Respectfully Submitted,
J. Perez