The Anchor School
Minutes
Finance Committee Meeting
Date and Time
Tuesday May 19, 2026 at 7:00 PM
Location
Virtual
Committee Members Present
A. Pressey (remote), B. Hines (remote), S. Kollu (remote), V. Thompson (remote)
Committee Members Absent
J. Whittington
Guests Present
J. Pinto Taylor (remote), T. Winston (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 May 19, 2026 at 7:05 PM.
C.
Approve Minutes
A. Pressey made a motion to approve the minutes from Finance Committee Meeting on 04-21-26.
S. Kollu seconded the motion.
The committee VOTED to approve the motion.
II. Head of School Updates
A.
Enrollment Report
- 356 FTE submitted to the State
- Current enrollment is at 354
B.
Line of Credit
- Submitted request for $50k drawdown to SouthState to proactively cover balance for the fiscal year
- Next draw will require board approval because it will be the last $50k in the line of credit
- Thea and Benard are recommending drawing down $40-45k to account for interest payment
C.
School Facilities Update
- Meeting scheduled this week, update will be provided during board meeting
D.
$2k Supplements in March 26 QBE Payments
- Bonuses were disbursed on May 15th, $1.5k all teachers and $2k certified teachers
E.
Fiscal Policy Handbook
- Dr. PT added LOC drawdown procedure to the policy
- Dr. PT added guidelines for monitoring budget items
- Will add it for discussion in May then vote on these items in June
F.
Peach Tax Credit Program
- Finance committee member and/or Dr. PT can take on enrolling TAS in this program for fundraising purposes
- Get application submitted by November to align with end of year giving
- Dr. PT, Vanecia, and Amber will investigate
III. Monthly Financial Review & Budget
A.
April Financial Updates & SCSC Dashboard
- Previous forecast was -$293k. vs. current forecast is -$38k
- Removed $129k in supplies by capitalizing the expenses, removed $100k CSP contingency, and added $33k expense for new staff member
- DCOH is 15 in April.
- Projected to end the year with 21 DCOH, 23 DCOH w/ LOC
- Key Metrics
- Exceeded fundraising goal with 110%
- Increase in CSP reimbursement
- Reduction in expense variance to budget from -4% to 1%
B.
Budget Development - Draft & Amended Draft
- No changes need to be made to the current budget
- Opting to keep enrollment low at 356 to submit to the state
- Vanecia will share her deck that with the broader committee and share during the board meeting
IV. Other Business
A.
Strategic Planning
- Decide on what direction we are aiming for i.e. build ground up, purchasing new facility, or continue to rent in the next 6 months
- Dr. PT will work with the facility resource center to explore 3 different scenarios
- Need to decide on salary schedule. Determine if we should add new column for certification between MS & DR
B.
Succession Planning
- Good turnout from the social, strong candidates attended.
- Next steps are for interested members to join upcoming events (board meeting and student showcases) then move forward with interviews
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 8:27 PM.
Respectfully Submitted,
A. Pressey
Documents used during the meeting
None