Final

Liberty STEAM Charter

LSC BOARD OF DIRECTORS FINANCE COMMITTEE

NOTIFICATION OF REGULARLY SCHEDULED MONTHLY MEETING
Published on November 17, 2023 at 1:16 PM EST

Date and Time

Thursday November 30, 2023 at 8:15 AM EST

Location

LSC Administrative Offices
117 North Main Street
Sumter, SC 29150

This meeting is held in accordance with the Freedom of Information Act. A copy of the agenda has been made available to the local media & general public.

Mission: Liberty STEAM Charter (LSC) works to provide all students equal access to a world-class K-12 education in an academically rigorous & student-centered learning environment, creating graduates to be thoughtful & engaged citizens prepared to take on the leadership challenges of the 21st century.

Vision: In partnership with our families & the community,  Liberty STEAM Charter (LSC) will provide interdisciplinary, real-world, personalized, and project-based learning experiences through a STEAM-based academic program where graduates become the next generation of leaders, employers, and employees who contribute to the economic well-being of their communities and families. 

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 8:15 AM
  A. Record Attendance   Tiffany Rhodes 1 m
  B. Call the Meeting to Order   Trevor Ivey 1 m
  C. Invocation   Kimberly Rauschenbach 1 m
  D. Pledge of Allegiance   Rodney Thompson 1 m
  E. Reading of the Mission Statement   Rodney Thompson 1 m
   

Mission: Liberty STEAM Charter (LSC) works to provide all students equal access to a world-class K-12 education in an academically rigorous & student-centered learning environment, creating graduates to be thoughtful & engaged citizens prepared to take on the leadership challenges of the 21st century.
 

  
  F. Reading of the Vision Statement   Kimberly Rauschenbach 1 m
   

Vision: In partnership with our families & the community, Liberty STEAM Charter (LSC) will provide interdisciplinary, real-world, personalized, and project-based learning experiences through a STEAM-based academic program where graduates become the next generation of leaders, employers, and employees who contribute to the economic well-being of their communities and families. 

  
  G. Approve Today's Meeting Agenda Vote Trevor Ivey 1 m
  H. Approve Previous Meeting Minutes Approve Minutes Rodney Thompson 1 m
    Approve minutes for LSC BOARD OF DIRECTORS ACADEMIC COMMITTEE on October 19, 2023  
II. Finance Committee 8:23 AM
  A. New Business Discuss Trevor Ivey 25 m
   
  1. Review of October Financial Report 
  2. Update on Internal Control Procedures 
    1. P-Card Tracking 
    2. Update on Liberty Line of Credit- Extended to 18 months
    3. Update on Construction Line of Credit 
    4. Update on Reserve Fund
    5. Analysis of Food Services Cash Flow for December- June
    6. NEW- Weekly Invoice Review Revised Manager Roles and Responsibilities
    7. Procurement Procedures Update 
  3. Update on Federal Reimbursements
    1. ESSER 3
    2. Title I
    3. Title III 
    4. Title IV
    5. IDEA Allocation- $87,000
  4. Update on Cash Flow
    1. Quixote Foundation TAN- Payment Scheduled to Begin February
    2. October State Revenue Funding- 45 Day Funding
  5. Relevant School Updates 
    1. 23-24 Enrollment Updates
    2. Site II Updates
  
  B. Old Business FYI Trevor Ivey 5 m
   
  1. Review of September Financial Report 
  2. Update on Internal Control Procedures 
    1. P-Card Tracking 
    2. Update on Liberty Line of Credit- Extended to 18 months
    3. Update on Construction Line of Credit 
    4. Update on Reserve Fund
    5. Analysis of Food Services Cash Flow for September
    6. NEW- Weekly Invoice Review Revised Manager Roles and Responsibilities
    7. Procurement Procedures Update 
  3. Update on Federal Reimbursements
    1. ESSER 3
    2. Title I
    3. Title III 
    4. Title IV
    5. IDEA
  4. Update on Cash Flow
    1. Quixote Foundation TAN- Payment Scheduled to Begin February
    2. September State Revenue Funding
  5. Relevant School Updates 
    1. 23-24 Enrollment Updates
    2. Site II Updates
  6. Audit Updates
  
III. Other Business 8:53 AM
  A. Agenda Items from Committee Members Discuss Rodney Thompson 10 m
   
  • Discussion Around Salary Schedule for 24-25 SY 
  
IV. Executive Session 9:03 AM
 
Executive sessions are designed to handle sensitive matters in a matter that will protect the innocent and assure confidentiality about sensitive matters. Please remember that all matters discussed in the executive session are confidential and not to be reported to or discussed with anyone not in attendance at the session. The committee chair or staff designee will brief directors who are unable to attend the executive session. In today’s executive session, the items listed below will be discussed with possible action taken afterward. 
 
  A. Discussion of Contractual and Personnel Matters Discuss Kimberly Rauschenbach 5 m
V. Action Related to Executive Session 9:08 AM
  A. Action Related to Executive Session Discuss Kimberly Rauschenbach 1 m
VI. Closing Items 9:09 AM
  A. Next Steps FYI Trevor Ivey 3 m
  B. Good of the Order Discuss Trevor Ivey 2 m
  C. Adjourn Meeting Vote Rodney Thompson 1 m