Atlanta Neighborhood Charter School
Minutes
Business & Operations Committee Meeting
Date and Time
Thursday February 11, 2021 at 8:30 AM
In accordance with Georgia's open meetings requirements, notice of this meeting has been posted at both campuses and on the ANCS website.
Committee Members Present
Ben Sutton (remote), Emily Ormsby (remote), Irina Brimmell (remote), Jordache Avery (remote)
Committee Members Absent
None
Guests Present
Arnold Pierce - WPG (remote), Chuck Meadows (remote), Jerry Hanes - WPG (remote), Markecia Jacobs - ANCS (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
Emily Ormsby called a meeting of the Finance & Operations Committee of Atlanta Neighborhood Charter School to order on Thursday Feb 11, 2021 at 8:35 AM.
C.
Approve January 14, 2021 Meeting Minutes
Jordache Avery made a motion to approve the minutes from Business & Operations Committee Meeting on 01-14-21.
Ben Sutton seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Business & Operations Update
A.
Financial Performance Update
Jerry Hanes, CFO, reviewed the school's financial performance as of January 31, 2021. The Committee proposed a few presentation changes, nothing material.
Mr. Hanes presented the FY22 Budget Draft. The draft is still in progress and will be presented to the Committee in March.
Chuck Meadows, Executive Director, updated the Committee on the PPP Loan forgiveness, which is still in process.
Middle Campus Mortgage refinance - The State BOE charter approval should occur on March 25. Mr. Hanes will coordinate with Citizens Trust Bank and Atlantic Captial Bank to see what terms they could provide for the refinance upon charter renewal.
B.
Investment Options Update
The Committee is exploring how to reinvest the school's money market funds. Mr. Hanes will reach out to Mauldin & Jenkins to see if they have other charter school clients who have invested non-state funds in bonds or stocks and how they ensured funds were appropriately segregated from state funds. Mr. Hanes and Mr. Meadows will make an investment recommendation to the Committee in March.
C.
Facilities and Grounds Update
Reopening seems to be moving smoothly.
Moving ahead with phased HVAC unit replacements over the summer.
D.
General Reopening Update
III. 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 9:07 AM.
Respectfully Submitted,
Emily Ormsby
Documents used during the meeting
- 01_31_21 Finance Committee Report FY21 v3.xlsx
- FY22 Budget Detail - Rough Draft 02-04-21.xlsx