Bethany Community School
Minutes
Finance Committee Meeting
Date and Time
Tuesday November 19, 2024 at 5:10 PM
Committee Members Present
Ana Bumgarner, Jeff Morris, Jenna Daniels, Megan Coleman
Committee Members Absent
None
Guests Present
Dave Faunce (remote), Justin Smith
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
Megan Coleman called a meeting of the Finance Committee of Bethany Community School to order on Tuesday Nov 19, 2024 at 5:13 PM.
C.
Approve October Minutes
Jeff Morris made a motion to approve the minutes from Finance Committee Meeting on 10-15-24.
Ana Bumgarner seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Updates from Finance and Investment Vendors
A.
Training from Prestige
B.
Investment Review from Raymond James
Reviewed current and future investments with Justin Smith from Raymond James.
Megan Coleman made a motion to reinvest the funds with Raymond James in similar units (ESP and Unit Trusts) with the possibility of adding up to $100,000 in growth funds, subject to financial recommendations from Raymond James in January of 2025. The Finance Committee will recommend for Board approval at the next Board meeting.
Jenna Daniels seconded the motion.
The committee VOTED unanimously to approve the motion.
III. Financial Update
A.
Review Monthly Financial Statements
Reviewed monthly financial statements.
IV. Finance Policies
A.
Review Internal Financial Controls Policy
Reviewed Internal Financial Controls Policy.
Megan Coleman made a motion to Approve the Internal Financial Controls Policy as presented, with the Finance Committee recommending its approval to the Board at the next Board meeting.
Jenna Daniels seconded the motion.
The committee VOTED unanimously to approve the motion.
V. Closing Items
A.
Chairperson’s Remarks
B.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 7:27 PM.
Respectfully Submitted,
Megan Coleman
Received Finance Committee training from Dave Faunce with Prestige School Solutions.