PREVIOUS vs CURRENT FORECAST (JUNE 2024)

 TOTAL REVENUE               PREVIOUS          CURRENT        VARIANCE

                                              4,508,941          4,445,416           (63,525)

TOTAL EXPENSES               3,860,437          3,898,086         (37,648)

OPERATING INCOME.         648,504              547,330          (101,173)

+$30K Decreased contracted services, SPED, and Substitute, Legal service,, Professional Development,; expenses were underspent

-$5K increased retain and maintenance expenses offset by decrease in jantorial and rent expenses.

+$5k Marketing and Student recruitment decrease offset by postage, food service management, and other purchased services expense increase

-$71k Custodial , Assessment, Instructional, Office, Extracurricular Supplies, Uniforms, Purchased Food, Computer, etc. mostly due to uncategorized items during the school years and $47K in computer cost which will be used in 2024-2025 School year.

Title 1 Grant is 80% drawn down with deadline of September 2024.

CSP Grant 100% drawn down.

Cash Flow end of year(June); $295K 

Cash Days.on Hand; 28

SCSC Dashboard still on track to finish with 90 points for the finance component.

JULY ENDING BALANCES FOR THE FOLLOWING ACCOUNTS:

TRUSIT CHECKING:           361,144.77

GEORGIA OWN SAVING:       5,010.28

GEORGIA OWN CHECKING. 5,002.78

GEORGIA OWN MM            125,600.32

TOTAL                                $496,788.35

Dorian made the motion to enter Executive Session and second by Jennifer.  Executive session was from 8:07 P.M until 8:16 P.M.

Dorian made the motion to close executive session and second by Ed Miller.

Executive session ended at 8:16 P.M. with a return to the scheduled finance committee meeting.

Jennifer made the motion to adjourn and second by Lamont.   The motion passed and the meeting adjourned at 8:22 P.M.