Atlanta Neighborhood Charter School
Minutes
Finance and Operations Committee Meeting
Date and Time
Monday April 18, 2022 at 12:00 PM
Committee Members Present
Cory Tiede (remote), Emily Ormsby (remote), Irina Brimmell (remote), Jerry Hanes (remote)
Committee Members Absent
Ben Sutton
Committee Members who arrived after the meeting opened
Irina Brimmell
Guests Present
Chuck Meadows (remote), arnold.pierce@wpg-inc.com (remote), ctiede7@yahoo.com (remote), jerry.hanes@wpg-inc.com (remote), mjacobs@atlncs.org (remote), mkessenich@atlncs.org (remote), pteusink@atlncs.org (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
C.
Approve March 15,2022 Meeting Minutes
II. Business & Operations Update
A.
Investment Update
B.
Financial Performance Update
Jerry reviewed the March 2022 and YTD financial activity noting that income is higher than anticipated because the APS allocation began increasing in February and the timing of grant income. Jerry explained variances in expenses (see attachments).
C.
SY 2022-2023 Budget Draft
Chuck presented the budget for the next school year. The budget assumes a return to normal school operations (pre-pandemic). Early care is not proposed to continue pending approval of next year's school day schedule by the board. Students will resume paying for lunch and breakfast and aftercare. Additionally, the school anticipates receiving the remaining reimbursements from the CARES Act. Currently, the school is waiting on receipt of $1M from the CARES Act that has already been approved.
D.
Facilities and Grounds
The new wash station at the EC farm is underway.
Consideration is being given to artificial turf for the soccer fields at the EC.
III. Closing Items
A.
Adjourn Meeting
- Charter.pdf
- Low duration.pdf
- Govt securities.pdf
- federated value.pdf
- t rowe equity income.pdf
- Bond fund of America.pdf
- 03_31_22 Finance Committee Report FY22 DRAFT v2.xlsx
- Statement of Financial Position 03-31-2022.xlsx
- Statement of Activity 03-31-2022 Month-end.xlsx
- Statement of Activity 03-31-2022 YTD.xlsx
- FY23 Budget DRAFT 04152022 - MJ.xlsx
The Committee discussed the investment option that the school's financial advisor provided. Cory noted that one of the funds invests in tobacco companies. The Committee requested that Chuck discuss this with the school's financial advisor and ask that an option without such companies be proposed.