The Anchor School
Minutes
Finance Committee Meeting
Date and Time
Tuesday April 21, 2026 at 7:00 PM
Location
Virtual
Committee Members Present
A. Pressey (remote), B. Hines (remote), T. Winston (remote), V. Thompson (remote)
Committee Members Absent
J. Whittington, S. Kollu
Guests Present
Brittany Clay (remote), J. Pinto Taylor (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
A. Pressey called a meeting of the Finance Committee of The Anchor School to order on Tuesday Apr 21, 2026 at 7:06 PM.
C.
Approve Minutes
A. Pressey made a motion to approve the minutes from Finance Committee Meeting on 04-07-26.
T. Winston seconded the motion.
The committee VOTED to approve the motion.
II. Head of School Updates
A.
Enrollment Report
- All grade levels are at maximum enrollment numbers with 340 enrolled students
B.
Line of Credit
- Currently have drawn down $50k out $150k total - $100k remaining
- Needed to purchase Chromebooks due to CSP grant taking long time to come in and low DCOH
- Will repay back in July to keep our DCOH health, but CSP has come back
C.
School Facilities Update
- Received initial budget from contractors and it's come back at $170k instead of the $100k original budget
- Mostly due to renovations for bathrooms
- Could consider spreading the costs over two fiscal years
- Dr. PT will show the difference in from original budget vs. new initial budget
- Dr. PT will draft committee reccomendation letter for broader board members
- Will bring it to the board as a vote to approve the increase
D.
$2k Supplements in March 26 QBE Payments
- Brittany added option 3 with reduction of bonus to $1250 for teachers and more money for teacher appreciation week
- Board will vote on this item
E.
Fiscal Policy Handbook
- Will add LOC procedure into the Fiscal Policy Handbook
F.
Peach Tax Credit Program
- Will table until next committee meeting
III. Monthly Financial Review & Budget
A.
March Financial Updates & SCSC Dashboard
- Previous forecast was -$274k. vs. current forecast is -$293k
- Due to additional substitute fees, teacher bonuses, chromebook expenses, and additional PD fees
- Received CSP funding and mid-term allotment from the state that helped offset those costs
- Current operating income is -$65k
- Key Metrics Dashboard
- Current DCOH is 25
- Increase in CSP total reinbursement increased
- Increase in fundraising
- Expense variance to budget increased, Brittany will investigate
- Uncategorized revenue decreased to $0
- Uncategorized expenses increased to $7k, currently WIP
- Year in end fund balance is 10%
- SCSC will capture metrics at the end of June, planning to draw down LOC and CSP funding to boost DCOH during that time
- Will need to add a vote for the board in May on drawing down the $100k from LOC
B.
Review FTE Data Collection (GaDOE)
- Submitted it back in March to SCSC
- Dr. PT will follow up if there is a formal report to share back
C.
Review Student Class Data Classification (GaDOE)
- Submitted it back in March to SCSC
- Dr. PT will follow up if there is a formal report to share back
D.
Budget Development - Draft & Amended Draft
- Staff numbers will not change significantly if there is a reduction in enrollment
- There are not items that we can cut if we can come under significantly our enrollment but there are CSP grant dollars that we can potentially drawdown to cover any deficit
- Right now we're at 340 enrollment but will get a specific number closer in May
IV. Other Business
A.
Strategic Planning
- Will table until next committee meeting
B.
Succession Planning
- Board social scheduled for May 3rd, 2-4pm
V. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 8:26 PM.
Respectfully Submitted,
A. Pressey
Documents used during the meeting
None