Voices for International Business and Education
VIBE Finance Committee Meeting
FINANCE
Date and Time
Monday June 14, 2021 at 5:30 PM CDT
Location
International High School of New Orleans
Community Room
727 Carondelet Street
New Orleans, LA 70130
Voices for International Business and Education http://public.boardontrack.com/VIBE_1
Agenda
| I. | Opening Items | |
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Opening Items
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| A. | Record Attendance and Guests | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes - May 17, 2021 | |
| II. | Budget FY'21-2022 Hearing | |
| A. | FY'21-2022 Budget Presentation | |
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Presentation of the FY'20-2021 Budget.
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| B. | Recommend Budget FY'21-2022 Adoption | |
| III. | Finance | |
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Finance
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| A. | Discuss May 2021 Financial Statements | |
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As of May 31, 2021, the cash balance in the checking account is $944,829. The MFP for May is $282,174 based on a 385-student count. The MFP for June will be the same as May 2021.
The reserve balance as of May 31, 2021, is 19.5%. It is estimated IHSNO will end the year with a 15% reserve balance. At the end of the month, all outstanding grants were filed and payments from the state had been approved. The grants receivable balance is 518,225 and the entire amount will be received in June 2021. |
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| B. | Vote to adopt May 2020 Financial Statements | |
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| C. | Small Business Administration Resolution | |
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On October 21, 2020, the VIBE Board approved the utilization of Small Business Administration loan funds to support the continuation of operations at IHSNO. SBA requires a resolution authorizing the Head of School to complete the SBA application and sign on behalf of the organization.
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| D. | Vote to adopt SBA Resolution Recommendation | |
| IV. | Closing Items | |
| A. | Next Meeting Agenda Items | |
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| B. | Adjourn Meeting | |