Liberty STEAM Charter
Minutes
LSC FOUNDING BOARD OF DIRECTORS FINANCE COMMITTEE
AGENDA OF REGULARLY SCHEDULED MONTHLY MEETING
Date and Time
Thursday August 26, 2021 at 2:00 PM
Location
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.
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.
Committee Members Present
Ben Griffith, Jr. (remote), Khalil Graham (remote), Kimberly Rauschenbach (remote)
Committee Members Absent
None
Guests Present
Trevor Ivey
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
Ben Griffith, Jr. called a meeting of the Finance Committee of Liberty STEAM Charter to order on Thursday Aug 26, 2021 at 2:00 PM.
C.
Invocation
Ben Griffith provided an invocation.
D.
Pledge of Allegiance
Kimberly Rauschenbach led the committee in reciting the pledge of allegiance.
E.
Reading of the Mission Statement
Dr. Khalil Graham read aloud the mission statement.
F.
Reading of the Vision Statement
Mrs. Rauschenbach read aloud the vision statement.
G.
Approve Today's Meeting Agenda
Ben Griffith, Jr. made a motion to approve the agenda as presented.
Kimberly Rauschenbach seconded the motion.
The committee VOTED unanimously to approve the motion.
H.
Approve Previous Meeting Minutes
Ben Griffith, Jr. made a motion to approve the minutes from LSC FOUNDING BOARD OF DIRECTORS FINANCE COMMITTEE on 06-09-21.
Kimberly Rauschenbach seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Finance Committee
A.
Review of Old Business
No old business was discussed during this time.
B.
New Business
- Summary of Key Points
- Discussion of July financials with board members
- Review of current per-pupil funding and potential adjustments to 21-22 SY budget
- Review of August to date expenses with projections of cash flow.
- Discussion of committee chair opportunity with board members
- Review of a line of credit opportunity with Synovus bank
- Discussion of school financial auditor contract
III. Other Business
A.
Agenda Items from Committee Members
No additional business was brought before the committee during this time.
IV. Executive Session
A.
Discussion of Contractual and Personnel Matters, and Receipt of Legal Advice Including Related to a Pending, Threatening, or Potential Claim
Kimberly Rauschenbach made a motion to enter into executive session for the purposes of a Discussion of Contractual and Personnel Matters, and Receipt of Legal Advice Including Related to a Pending, Threatening, or Potential Claim at 2:45 pm.
Ben Griffith, Jr. seconded the motion.
The committee VOTED unanimously to approve the motion.
V. Action Related to Executive Session
A.
Action Related to Executive Session
Ben Griffith, Jr. made a motion to return from executive session at 2:55 pm.
Kimberly Rauschenbach seconded the motion.
The committee VOTED unanimously to approve the motion.
Kimberly Rauschenbach made a motion to recommend approval to the full board to pursue a contract with Martin-Smith CPA for 21-22 SY audit services.
Ben Griffith, Jr. seconded the motion.
The committee VOTED unanimously to approve the motion.
Ben Griffith, Jr. made a motion to recommend approval to the full board that LSC apply for a $500K line of credit with Synovus Bank.
Kimberly Rauschenbach seconded the motion.
The committee VOTED unanimously to approve the motion.
VI. Closing Items
A.
Next Steps
- Final Action Items
- Update board access to new school financial platforms
- Accept Kim Rauschenbach as Committee Chair
- Set next meeting date for September 23-2 pm
- Send meeting notes to all committee members
- Board Recommendations
- Pursue contract with Martin Smith CPA for 21-22 SY Audit services
- Apply for a $500K line of credit with Synovus Bank
B.
Good of the Order
No comments were made during this time.
C.
Adjourn Meeting
Ben Griffith, Jr. made a motion to adjourn the meeting at 3:00 pm.
Kimberly Rauschenbach seconded the motion.
The committee VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 3:00 PM.
Respectfully Submitted,
Khalil Graham