Things to be noted:

The operating income(December 2024):$71,910.

Local Source Funds:($281,721)forecasted clawback from QBE adjustment which will start in March and spread over several months.

            BOTTOM LINE IMPACT:

Previous Forecast ($50,874)

Federal Sources :$55,237: IDEA allotments were increased.

State Sources: $20,227: Dyslexia Screener and SCSC Admin Fee Reduction allotments added

Personnel & Benefits: $14,727: Resource Office and Aftercare Aide Forecasts reduced

Purchased Prof. $ Tech Support: Contracted teacher forecast reduced

Supplies($10,000): Increased due to trends

Purchased Property Services ($12,069)- Rent forecast increased due to higher trending

Title 1 and 4 Grants are totally drawn down.

December Ending Balance; 722,511.54

Checks: 41,100.01

Other Withdrawals: 723,617.90

Deposits: 563,991.22

January Ending Balance: 521,783.85

GA Own: 20,910.14

Trust: 300,100

Total Ending Cash Flow: $842,805.88

A motion was made by Dorian to close the GA Own accounts and move those funds to Truist.

Jennifer second the motion. The motion passed unanimously.

Kolt uncovered that there are two Stripes accounts for MACS.   The one that is public facing not the website has been compromised.  This second account was done July 2024 when Salesforce moved the account to Stripes.  

Thus any payment by board members or others were going to this unattached account to the MACS website.  In the meantime, MACS has to do a clean up of what looks like some fraudulent charges before claiming the balance that is MACS legitimately.

Kolt has started the process by filtering the charges by amounts in order to report back to 

Stipes.  It was recommended to close this Stripes account once this is cleared and go with another third party that will be attached to MACS' website.