Liberty STEAM Charter
Minutes
BOARD OF DIRECTORS FINANCE COMMITEE MEETING
Date and Time
Friday March 7, 2025 at 9:30 AM
Location
117 North Main Street
Sumter, SC 29150
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
Heather Bass, Kimberly Rauschenbach, Rodney Thompson
Committee Members Absent
None
Guests Present
Trevor Ivey
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Invocation
D.
Pledge of Allegiance
Mrs. Rauschenbach led the pledge of allegiance.
E.
Reading of the Mission Statement
Mrs. Bass read aloud the mission statement.
F.
Reading of the Vision Statement
Dr. Ivey read aloud the vision statement.
G.
Approve Today's Meeting Agenda
H.
Approve Previous Meeting Minutes
II. Finance Committee
A.
Old Business
No old business was discussed.
B.
New Business
Summary of Key Points
- A finance presentation was given by Dr. Ivey on January’s expenditures vs. revenues & the balance income sheet. He noted that we have not received any federal reimbursements yet but have been able to start filing reimbursements for Title I, II, IV and IDEA. The committee engaged in conversation around the current status of our construction loan vs. cash in the bank.
- Dr. Ivey provided year-end giving updates and next steps on:
- Connected Communities Grant (Funding Received)
- Charter School Growth Fund Milestone Document (Funding Received)
- Williams-Brice-Edwards Charitable Trust (Funding Received)
- SCDE Fruits & Vegetables Grant (Claims OngoinG)
- SCDE Innovation Grant (Funding Received)
- SCDE Strategic Compensation Grant (No Funding Yet)
- Dr. Ivey provided year-end giving updates and next steps on:
- Dr. Ivey presented the first draft of the FY26 budget.
- Mr. Thompson asked for the finance committee chair to work with the Executive Director to review the position roles & responsibilities and total FTE count for next year’s budget to determine if we are being good fiscal stewards of our funds.
III. Executive Session
A.
Discussion of Contractual and Personnel Matters
The board committee did not enter into executive session.
IV. Action Related to Executive Session
A.
Action Related to Executive Session
The board committee did not enter into executive session.
V. Closing Items
A.
Next Steps
Dr. Ivey and Dr. Thompson will meet at 1:30 pm on March 8 and then again on March 12 with Mr. Shaw to review the position count & position roles/responsibilities as part of the 1st draft of the FY26 budget.
B.
Good of the Order
Dr. Ivey provided a copy of the book, "Life at Liberty," and asked that all edits be submitted by Wednesday, March 12.
Dr. Thompson provided an invocation.