Atlanta Smart Academy
Minutes
ASA Monthly Board Meeting
Date and Time
Monday May 20, 2024 at 5:30 PM
Directors Present
A. Tolliver (remote), I. Lee (remote), L. Harden (remote), R. Price (remote), S. Fortson (remote), S. Scott (remote), V. Williams (remote), W. Newman-Johnson (remote)
Directors Absent
S. Williamson
Guests Present
Antoinette Kennedy (remote), Hannah Crowder (Prestige) (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
D.
Presentation from Prestige Accounting
II. Budget Hearing #2
A.
Review of Proposed Budget
H. Crowder recommended making cuts to budget.
Current deficit is $43,000. Increase in transportation costs plays a significant role in the budget's deficit. Board will look into getting transportation funded.
Board reviewed payroll fees and FICA to determine if current numbers are accurate. FICA appears to be high. H. Crowder will review.
III. Academic Oversight and Governance Committee
A.
Updates provided by R. Price
- Reviewed areas where Board did not receive full credit from CPF.
1. Education Program and Compliance
2. Financial Oversight
3. Procedures for reporting child abuse
- Working to finalize the by laws
IV. Finance, Facility, Development, and Strategic Partnership Committee
A.
Updates provided by I. Lee
Working on finalizing budget.
Discussions ongoing regarding potential land purchase.
H. Crowder presented April Financials to the Board.
Current budget is about one month over in spending.
Reminder to vote on budget for next fiscal year by June.
Budget needs to be in a positive net income before voting.