Wesley International Academy
Minutes
May Finance Committee
Date and Time
Wednesday May 21, 2025 at 9:00 AM
Location
Committee Members Present
A. Sumter (remote), J. Marshall (remote), L. Price (remote), S. Williams (remote)
Committee Members Absent
K. Boyer, O. Okwara, S. Smith
Guests Present
C. Hill (remote), C. Wyatt (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
S. Williams called a meeting of the Finance Committee of Wesley International Academy to order on Wednesday May 21, 2025 at 9:05 AM.
C.
Approve Minutes
S. Williams made a motion to approve the minutes from March Finance Meeting March Finance Committee on 03-19-25.
A. Sumter seconded the motion.
The committee VOTED to approve the motion.
II. Finance
A.
Brief Review of Q3
B.
Detailed Review of FY2026
CFO goal is to develop a balanced budget for allocating resources to support initatives and charter performance goals.
WIA will implement a competitive multi-year compensation. Wesley will remain 95% of APS salary scale for 2025.
CFO will maintain an unrestricted cash balance of 30-45 days of working capital.
Budget will be based on 746 students.
III. Closing Items
A.
Adjourn Meeting
J. Marshall made a motion to adjourn finance meeting.
S. Williams seconded the motion.
The committee VOTED to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 10:00 AM.
Respectfully Submitted,
C. Wyatt
Third Quarter we have $9,526,855 in bank accounts and 15.5m in total assets.
Liabilites and Equity 15.5m.
Our net revenue is $1,566,976.90 we were over budget $333,699.21. (in the black).