The GLOBE Academy

Minutes

Finance Committee Meeting

Date and Time

Tuesday August 20, 2024 at 12:00 PM

Location

Join Zoom Meeting
https://us02web.zoom.us/j/84566839317?pwd=V8gCWiCpTqKq8fDB9weqdh3XKebpRz.1

Meeting ID: 845 6683 9317
Passcode: 245064

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.

Committee Members Present

A. McMillon (remote), C. Elliott-Earby (remote), D. Clayton-Purvis (remote), J. Clark (remote)

Committee Members Absent

None

Guests Present

s.ellis22@gmail.com (remote)

I. Opening Items

A.

Record Attendance

B.

Call the Meeting to Order

A. McMillon called a meeting of the Finance Committee of The GLOBE Academy to order on Tuesday Aug 20, 2024 at 12:02 PM.

II. Monthly Financial Review

A.

June 2024 Financial Review

The Finance committee discussed the June 2024 financials. The financials will be included in the Board packet for the June BOD Meeting.  

III. FY 2024-25 Budget

A.

FY 24-25 Budget

The FY 24-25 Budget was approved by the Board in June 2024 BOD Meeting. 

B.

FY 23-24 Budget

  • The Finance Committee discussed the amendment to the budget for FY 2023-24 to reflect unaudited actuals through June 30, 2024. 
  • The amendment will be sent to the Board for approval in the August BOD meeting.

IV. Debt Service

A.

Discuss Debt Service

  • Debt service to the bonds continues to happen according to the debt schedule.

V. Audit and 990 Update

A.

Audit Update

  • Audit is in progress. The auditor, Doug Erwin, will provide the results of the audit at the October 2024 BOD Meeting.

VI. Fiscal Policies

A.

Policies

  • Municipal Securities Post-Issuance Disclosure Policy is drafted and will be circulated with the Finance Committee for review.


 

VII. 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 12:38 PM.

Respectfully Submitted,
A. McMillon