Wesley International Academy
Minutes
September Finance Meeting
Date and Time
Wednesday September 20, 2023 at 8:00 AM
Location
Remote
Committee Members Present
E. Cater (remote), E. Moraga-Davis (remote), J. Marshall (remote), L. Price (remote), O. Okwara (remote), S. Williams (remote)
Committee Members Absent
K. Boyer
Guests Present
C. Wyatt (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
D.
Aprrove Agenda
II. Finance
A.
Update on Audit progress
B.
Review of July financials
July is very standard for the month.
Cash flow looks low but we have working captial until we receive reimbursements
and funding from State, local and Fed funds.
C.
Update Development Efforts
Jason brings attention to great efforts from CFO and Board Members
on Finance Committee.
Members for this year are Donica Johnson, Erline Mongaga-Davis, Lisa Price,
Nicole Lee, Chris Wyatt
We project to raise $50k
D.
Propose and approve 2023 FC Goals
E.
Prepare and review proposed budget for new fiscal year during April/May for review and approval by B
F.
Complete clean financial audit
G.
Meet all deadlines for all required financial reporting (APS, State of GA, Fed) during the year.
H.
Develop mid-year budget revision for committee review in January and Board approval in Feb.
I.
Prepare and review proposed budget for new fiscal year during April/May for review
J.
Develop 4-year cash-flow forecast (2025-2028) based on fluid enrollment, reduction in federal grant
Splosh renovations . Move out and move in to new location, schedule to move out June 2025
Enrollment will affect this forecast, transportation for students, new furniture,
Kelley House future
All Audit items has been submitted Friday Sept 8, 2023
May be some additonal request but as of now no news is good news.