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Atlanta Neighborhood Charter School

Finance and Operations Committee Meeting

Date and Time

Tuesday January 18, 2022 at 12:00 PM EST
In accordance with Georgia's open meetings requirements, notice of this meeting has been posted at both campuses and on the ANCS website.

Agenda

     
I. Opening Items
 
Opening Items
  A. Record Attendance and Guests
  B. Call the Meeting to Order
  C. Approve December 13, 2021 Meeting Minutes
    Minutes for Finance and Business Operations Committee Meeting on December 13, 2021
II. Business & Operations Update
 
Business & Operations
  A. Update Financial Resolution with New MC Principal and New Mortgage Info
   
Financial Resolutions
Purpose
This policy outlines yearly financial resolutions that must be made by the Board.
Duration
This policy is permanent.
Policy
At the first Board meeting of the year, the Director of Finance and Operations will present a list of financial resolutions for approval and ratification by the Board. The list should include the following:
  1. Banks where ANCS has accounts
  2. Designated check signatories
  3. Limits of checks and payments expressed in dollar amounts
  4. Designee/signatory for all employee contracts
  5. Confirmation and approval of any ongoing vendor contracts that may have changed since the approval of the budget. This includes any contracts for outside services, such as field trip operators/providers. This also includes contract limits.
  6. Confirmation of any lines of credit or loans that need to be re-signed/re-authorized
  7. Confirmation of reserve fund policy
  8. Confirmation of where financial records and documents are kept and how they are accessed
   
  B. Revised FY22 Budget
   
The Finance Committee is responsible for drafting a proposed amended budget, which must then be presented to the Board and officially adopted.
   
   
  C. Financial Performance Update
   
1. Monthly and YTD financial performance
2. CARES Act funding update
   
   
   
   
  D. Annual Charter Financial Performance
   
Add to Committee calendar to review these metrics concurrent with review of annual audit report
   
  E. Student Accident Insurance Policy
   
Questions from December Committee Meeting:
1. Without this type of coverage, what is the process and estimated cost to address an accident claim?
2. Which events are excluded from coverage?
3. Is there a cap on coverage?
4. What is the approximate cost of coverage?
   
   
  F. Investment Options
   
   
   
   
   
   
   
  G. Facilities and Grounds
III. Closing Items
  A. Adjourn Meeting