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Laureate Academy Charter School Board of Directors

Finance Committee Meeting

Date and Time

Wednesday March 22, 2023 at 4:30 PM CDT

Location

Laureate Academy Charter School

The matters listed are those reasonably anticipated by the Chair to be discussed at the meeting. Not all items listed may, in fact, be discussed. Other items not listed may be brought up for discussion to the extent permitted by law. All agenda items are informational unless otherwise denoted, though all committee reports require a vote for acceptance. Unless otherwise stated due to COVID-19 precautions, the meeting will be held at Laureate Academy, 2115 Oakmere Dr, Harvey, LA 70058.

 

 

Remote Attendance information:

Jake Krupa is inviting you to a scheduled Zoom meeting.


https://tulane.zoom.us/j/91356858989?pwd=NmdTeXB1dDBDRjBuYTBZY0NvWWkvdz09

Meeting ID: 913 5685 8989
Passcode: 279219
One tap mobile
+13052241968,,91356858989#,,,,*279219# US
+13092053325,,91356858989#,,,,*279219# US

 

 

Agenda

     
I. Opening Items
  A. Record Attendance
  B. Call the Meeting to Order
  C. Approve Minutes
    Minutes for Finance Committee Meeting on January 18, 2023
II. Finance
  A. Review Budgeting Progress
   

Upcoming Key dates:

  • April 14th: Advertisement published that budget will be reviewed at next general board meeting.
  • General Board Meeting: April 26th, for the entire board, review close-to-final draft of budget. Open to public to give comments, and open to board to give comments.
  • May 5th to May 8th time range: Final budget posted to the website for public review
  • General Board Meeting: May 24th, for the entire board, vote to approve/disapprove final budget
  • June 1: Notice published that a new budget has been enacted.

 

Information that needs to be hammered out:
- anticipated enrollment count
- clarity on longevity bonus
- anticipated stipends
- clarity on Master Teachers tied to ESSER III 
- summer school budget
  B. Discuss ESSER Plan
  C. Review Latest Financials
   

General financial update as of Feb 28:

  • Financial condition remains strong on all metrics (cash ratio, debt to asset ratio, etc.)
  • Original budget for this academic year had a projected surplus of $161K for the whole year. We currently have a budget surplus of $243,293, so we have built up a cushion in our budget over the fall semester but it has slightly eroded since January.
III. Closing Items
  A. Adjourn Meeting
College Starts in Kindergarten