Miles Ahead Charter School
Minutes
Finance Committee Monthly Meeting
Date and Time
Thursday March 13, 2025 at 7:00 PM
Committee Members Present
D. Laguerre II (remote), E. Miller (remote), J. Toussaint (remote), L. Schumpert (remote)
Committee Members Absent
K. Bloxson
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
E. Miller called a meeting of the Finance Committee Committee of Miles Ahead Charter School to order on Thursday Mar 13, 2025 at 7:04 PM.
C.
Approve Agenda and Minutes
L. Schumpert made a motion to approve the minutes from Lamont Schumpert Finance Committee Monthly Meeting on 02-13-25.
D. Laguerre II seconded the motion.
The committee VOTED to approve the motion.
II. FY25 Financial - edTec Report
A.
Toni Johnson of Edtec gave the financial report
III. Treasurer Report (Finance Committee Member Chair)
A.
Dorian Laguerre gave the treasurer's report
January Ending Balance: $521,78485
Checks; $53,794.31
Other Withdrawals: $548,909.25
Deposits: $451,312.62
February Ending Balance:$370,393.91
GA Own Account Balance:$ 20,930.87
TRUIST Balance; $375,100.00
TOTAL ENDING CASH FLOW: $766,424.78
IV. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 7:42 PM.
Respectfully Submitted,
E. Miller
Local Sources Funds: ($35K)
Federal Sources (-$8K) due to enrollment less than projected
Bottom Line Impact:
State Source $33,425 due to QBE allotment update
Local Sources up $35k because of IDEA Capacity Grant
Food Services: (-$71,012) due to higher than anticipated meal trends