SC Whitmore School
Minutes
SC Whitmore School Board of Directors Meeting
Date and Time
Tuesday December 13, 2022 at 3:00 PM
Location
Public meeting to be held online here: meet.google.com/yaf-useq-spd
or dial: (US) +1 209-843-0440 pin # 877 726 682#
This public meeting will be held online here: meet.google.com/dqt-mqqp-hhc
Or dial: (US) +1 401-753-9662
PIN: 531 476 514#
Directors Present
A. Simon (remote), E. Hursey (remote), L. Crosby (remote), M. Rogers (remote), S. Rasmussen (remote), T. Behling (remote), T. Bowers (remote)
Directors Absent
None
Guests Present
K. Dunbar (remote), Maria Head (remote), Michael Ikano (remote), S. Herring (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Public Comments
II. Finance
A.
Financial Discussion
Michael Ikano, Prestige School Solutions, discussed the outstanding liability with the building, continue with current arrangements and what to do with the excess cash. Described CD's and wants SCWS to continue to learn about LFIP. LGIP is an investment took that is available to local government entities in South Carolina. Access to the money is available within 24 hours.
Several Charter schools already use this option. The LGIP option will also make sure the school is in compliance with the FDIC limit using the "ladder" approach. Michael with confer with other colleagues to make sure a 30 days cash on hand is in the LFIP account.
The second item today is the debt on the building. No penalty for paying off the building early. No large expenses in the future are expected that would erode the cash balance. SCWS could pay the building off and then use the money saved for student trips. The board would like to provide scholarships to students who would like to attend the Washington DC trip.
III. Other Business
A.
Other Business for Board Discussion
No comments for discussion.
No Public Comments.