There was a vote to move into Executive Sessions to discuss the 24-25 Budget.  Motion moved by Ivan Lee and Seconded by Wanda Newman-Johnson

Currently, School is in a deficit of $300,000 due to some changes from Georgia State / GDOE Esser Funds.

As we are trying to get over this hurdle how can we alleviate the situation from happening again.

Alyssa Blitch - Prestige Accounting 

1. Much higher payroll cost over the summer (summer programs)

2. GADOE froze the Title 1 program funding (ESSER funding)

Notice went out in March from GADOE - no other clients had these grants most of the current clients did not have ESSER Grants because we are a new school.  So, Prestige did not have information to bring to ASA in advance.

Alot of vendor changes and additional payments due to lease payments. 

Requirement is 45 days, but Prestige is 60 days (most states vary between 30-45 days)

Recommendation to have one month of financial savings and cash on hand.

Transportation costs changes during the middle of the year - new vendor is a little higher

ESSER Funds being taken back due to Georgia State (GADOE)

The budget needs to be reallocated.  

discussed questions that committee wanted to ask Patrice moving forward so that the committee can better support the oversight of academics

proposed 

Met on 8/5/24 - Discussed the board capacity and nominate Bishop Williams for board member, since the issues regarding his becoming a board member has been removed, board structure and terms and set on Board on Track and questions to ask Patrice to discuss - but the types of factors we would evaluate the trends and respond by board meeting.

Proposed Bylaws changes:  Board Succession Plan

Chair 2 years

Vice Chair - 2 Years

The requisite to become Vice Chair - must be a role of Chair, Vice Chair, Treasury, Secretary, Committee Chair or Committe Co-Chair and a part of the board more than one year.

Ivan shared current financials; he will send out email regarding committee members

Audit is ongoing; additional documentation was requested; audit should be submitted by November 1.

DE46 deadline is August 31.

In discussions regarding real estate deal. 

Ask board to be vigilant regarding the securing of funding

reviewed mission, vision, and BIG goal for ASA

reviewed  EOY results in academics in comparison to APS and the state; request from board to have comparison over all 4 years to see how we compare

discussed CFM results CAPS and SCSC monitoring - needs from the board to assist with requested documents

need from the board to help secure funding; Patrice has been able to approx $80,000 in grants 

Gala: add invitees to spreadsheet by August 31; solicit major sponsors and add to spreadsheet

board discussed engagement letter from Prestige and additional charges; we will hold on signing engagement letter until a meeting is held. 

board will review proposal and revisit at next board meeting