The GLOBE Academy
Minutes
Pre Board of Directors Meeting
Date and Time
Tuesday January 24, 2023 at 8:30 AM
Location
I'm sorry for the short notice but I need to move the meeting to Tuersday
Luis Pacheco is inviting you to a scheduled Zoom meeting.
Topic: FinComm meeting
Time: Jan 24, 2023 08:30 AM Eastern Time (US and Canada)
Join Zoom Meeting
https://us05web.zoom.us/j/86727101673?pwd=R0FtYXVwQ2NaVGRUdEh4WWlGdUV0UT09
Meeting ID: 867 2710 1673
Passcode: YT3AMF
Vision, Mission and Core Values
Vision: To develop globally minded citizens who have the knowledge, skills, and attitudes to effect positive change in our world.
Mission: The GLOBE Academy fosters Global Learning Opportunities through Balanced Education for children of all backgrounds. With a focus on dual-language immersion, an experiential-learning model, and a constructivist approach, GLOBE inspires students to be high- performing lifelong learners equipped to make a positive impact in the world.
Core Values: The GLOBE Academy’s core values are expressed in the acronym, CREST: Community, Respect, Empathy, Sustainability and Trust. These values are expected of the governing board, faculty, staff, parents, and students. They are woven into daily life at GLOBE and incorporated into the curriculum.
Community: We are inclusive, and we nurture and support one another.
Respect: We treat ourselves and each other with kindness and dignity.
Empathy: We strive to understand and share the feelings of others.
Sustainability: We aim to conserve our resources for optimal use in the present and future.
Trust: We are committed to honesty, transparency, and respectfully sharing our thoughts and encouraging others to do the same.
Vision: To develop globally minded citizens who have the knowledge, skills, and attitudes to effect positive change in our world.
Mission: The GLOBE Academy fosters Global Learning Opportunities through Balanced Education for children of all backgrounds. With a focus on dual-language immersion, an experiential-learning model, and a constructivist approach, GLOBE inspires students to be high- performing lifelong learners equipped to make a positive impact in the world.
Core Values: The GLOBE Academy’s core values are expressed in the acronym, CREST: Community, Respect, Empathy, Sustainability and Trust. These values are expected of the governing board, faculty, staff, parents, and students. They are woven into daily life at GLOBE and incorporated into the curriculum.
Community: We are inclusive, and we nurture and support one another.
Respect: We treat ourselves and each other with kindness and dignity.
Empathy: We strive to understand and share the feelings of others.
Sustainability: We aim to conserve our resources for optimal use in the present and future.
Trust: We are committed to honesty, transparency, and respectfully sharing our thoughts and encouraging others to do the same.
Committee Members Present
L. Li (remote), L. Pacheco (remote), M. Williams (remote)
Committee Members Absent
A. Haas, C. Elliott-Earby, D. Clayton-Purvis, D. Reynolds
Guests Present
L. Ferro Borges (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
L. Pacheco called a meeting of the Finance Committee of The GLOBE Academy to order on Tuesday Jan 24, 2023 at 8:30 AM.
II. FY2023 Financials
A.
FY2023 Financials in line with expectations. We have an issue with collecting payments for lunch for part of the first semester.
B.
Treasury Investment Ladder to be presented to be board during the meeting.
- WHAT? It is a safe way to earn interest on our excess cash. Cash will be invested in Treasury bills. Treasury bills are short-term investments guaranteed by the Federal Reserve that pay interest
- HOW? We will invest $2mm in 30-day bills, and $500,000 each in 3mo, 6mo, 9mo, and 12mo bills
- COST? $35 per year fee for the entire ladder. No other explicit costs, although a small bank fee is included in the overall quoted yield. This fee is generally about 10 basis points (one tenth of one per cent)
- WHY? Rates have moved up recently and we should be able to earn between 2% and 4% on this excess cash. 2% of $4mm = $80,000 (ballpark estimate)
- NEXT? Once board approves CFO will connect with bank to get process started.
III. Other Business
A.
Student Transportation funded by GLOBE
No advances at the moment
IV. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:02 AM.
Respectfully Submitted,
L. Pacheco