Pataula Charter Academy, Inc (Serving Pataula Charter Academy and Spring Creek Charter Academy)
Minutes
June Finance Meeting
Date and Time
Monday June 20, 2022 at 5:00 PM
Location
PCA Conference Room
Meeting will be in the Conference room of Pataula Charter Academy.
Committee Members Present
C. Weathersby, E. Austin, G. Flowers, H. Worsley, R. Collins
Committee Members Absent
K. Holley, R. Beamon
Guests Present
L. Adkinson
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
D.
Approve Agenda
II. Finance
A.
PCA INC - Financial Policy
B.
Pataula - Greenhouse Vendor Selection
$125,000 has been budgeted to install an Educational Greenhouse at Pataula. Only one bid was received from Atlas Greenhouse in the amount of $86,683 installed. Site preparation will be the schools responsibility, which should remain under the total budgeted amount. Cheryl is recommending the Committee approve the bid from Atlas Greenhouse.
C.
Pataula - Utility Vehicle Vendor Selection
This item will be tabled at this time.
D.
Pataula - CPF Financial Reports
The committee reviewed Pataula CPF Financial reports through April 2022. PCA is on track with 83% of the budget spent and is projected to meet.
E.
Spring Creek -Electrical Provider Purchase
Grady EMC, A West Electrical, our Project Manager at Spring Creek and Will Bruner our Maintenance Director, all agree that we must install a new electrical transformer at Spring Creek to maintain voltage for the new modular building. Grady EMC has submitted an estimate of $8,165.14 as our share of the installation. Cheryl is recommending the Committee approve the estimate.
F.
Spring Creek - Chromebook vendor selection
Purchasing 71 new chromebooks for Spring Creek was put on the procurement website. Y & S Technologies submitted the lowest price of $15,828, this price includes cases, they have the chromebooks in stock, and will prepare them for connection. Cheryl is recommending the Committee approve the bid from Y & S Technologies.
G.
Spring Creek - Classroom Furniture Vendor Selection
$27,000 was budgeted for furniture for the new high school classrooms at Spring Creek. Hertz Furniture was the only bid submitted in the amount of $30,895. This is for student desks, chairs and teacher desks for 7 new classrooms and includes a lifetime warranty. Cheryl is recommending the Committee approve the bid.
H.
Spring Creek - Year End Loan Payment
Cheryl is recommending a lump sum payment of $300,000 at this time to reduce Spring Creeks debt balance of $486,102.06. That would leave a debt balance of $186,102.06 to be paid off in six months in FY 23. Projected surplus, cash on hand and fund balances for FY 22 make this the best time for this reduction.
I.
Spring Creek - CPF Financial Reports
With 77% of the budget spent, Spring Creek is on target to meet on CPF Financials.
The Financial Policy needs to be updated due to changes in the law. The Policy will be amended under Bids and Procurements to: An exception will also be made when items are available on Statewide Contract. All goods and services valued at $100,000 or more must be posted on the Georgia Procurement Registry for a period of 1 week before items are approved by the Board.