First meeting. No minutes to approve. 

• Finance committee to meet 1-2 weeks before monthly board meetings
• Want to avoid sharing multiple EdTec drafts with the full board 
• Want to include EdTec in Finance committee meetings
• J. Pinto-Taylor doesn’t need 4 meetings per month with EdTec. Finance committee could use 1 of those days. 
• Action Item: J. Whittington will verify with EdTec team by May 17th. Tentatively 2nd Thursday of each month for committee meetings.

• Enrollment scenarios reviewed (224 max, 170 likely, 140, low)
• Projected enrollment currently set to 170 students - to be submitted to the SCSC on Wed, May 15th fir Funding purposes. The expected total enrollment by October is 180. This will also be reported to the SCSC.
• October FTE counts towards CPF. The score is based on variance between targeted enrollment and actual as of October.
• V. Thompson ask to have budget shared via Google Sheets
• Monthly budget to actuals during board meetings helps
• 10% variance should trigger a budget amendment 
• Recommendation: have more official documentation of board budget amendment and approval
• Look at the assumptions in the budget, especially the per pupil estimates 
• Local Revenue: board contribution assumption doesn’t match required board contribution or board policy. 
  • Preference in future years to not have donations used in current fiscal year
  • Preference to have percent of fundraised revenue held in reserves
• Recommendation for future years: high level, public facing categories should include “instruction” category
• State Revenue: Total QBE earnings 2,232,318/180, EdTec is projecting $1K increase in FTE. Need to verify where EdTec is getting the amount? Is there a generic multiplier? If yes, what is it?
  • 13,205 
• State Revenue: EdTec to update mills in QBE contra account
• Want to review and discuss personnel to operations ratios in near future
• Financing to be removed from budget
• Some discrepancies between Cash Flow and MYP Detail. This will make budget unbalanced
• Action Item: Finance committee needs to have further discussions with EdTec about certain assumptions and line items by May 30th
• Discussed final voting date for budget approval (June 26th)
• Action Item: J. Pinto-Taylor to request EdTech provide revised budget with 170 FTEs for Wednesday (May 15th) board packet
• Will move board budget vote to June 26 meeting

• 4 approved auditors provided by SCSC
• Bambo Sonaike, CPA, LLC is the preferred option based on J. Whittington analysis.
• Audit submission to SCSC & GaDOE is due November 1, 2024. Board vote is due October 2024, thus audit completion is due early September 2024, for Board's first read in September. 
• First read in May meeting, vote on auditor in June.
• Action Item: D. Gregory to confirm delayed submission is OK with SCSC.
• Action Item: J. Whittington to share auditor listing with full Finance Committee by noon on 5/15
• Action Item: J. Pinto-Taylor to email SCSC representative and CC D.Gregory and J. Whittington about interest in using an approved auditor 
• Need to have audit first read in September, vote in October, submitted to SCSC in November