Miles Ahead Charter School
Minutes
Finance Committee Meeting
Committee Members Present
H. Lust (remote), J. Toussaint (remote), K. Bloxson (remote)
Committee Members Absent
J. Foster
Guests Present
Toni Johnson (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approval of Current Meeting Agenda
D.
Approval of Past Month’s Meeting Minutes
II. Treasurer Report (Finance Committee Member Chair)
A.
Financial Report
III. FY26 Financial - Vertex Education Report
A.
Financial Report
Toni Johnson provided a detailed overview of the FY26 budget to include forecasted, actual, and variances for the month of May. There were discussions regarding ideas for minimizing the net deficit. There were increases in insurance costs for the facility and personnel and benefits (contracted teachers, SPED, and professional development). There was saving from technology purchase.
IV. FY27 Financial - Vertex Education Report
A.
Financial Report
Kolt shared the 21Cobalt external audit has been completed. Results will be shared with the board. Some of the recommendations identified were included in the FY27 budget.
V. Executive Director Update
A.
Finance Policy
Nothing to report.
B.
Other Topics
Kolt recommends moving the Finance Committee meetings to the 3rd Monday at 12pm to accommodate attending the Academic Committee meetings. This timeframe is also convenient for Toni and Henry.
An overview of the financials for May were reviewed.