Pataula Charter Academy, Inc (Serving Pataula Charter Academy and Spring Creek Charter Academy)

Minutes

January Finance Meeting

Date and Time

Monday January 22, 2024 at 5:00 PM

Location

Spring Creek Conference Room

Committee Members Present

C. Weathersby, G. Flowers, H. Worsley, K. Holley, R. Collins

Committee Members Absent

C. Boyd

Guests Present

L. Adkinson

I. Opening Items

A.

Record Attendance

B.

Call the Meeting to Order

C. Weathersby called a meeting of the Finance Committee of Pataula Charter Academy, Inc (Serving Pataula Charter Academy and Spring Creek Charter Academy) to order on Monday Jan 22, 2024 at 5:10 PM.

C.

Approve Minutes

H. Worsley made a motion to approve the minutes from the November 13, 2023 meeting.
R. Collins seconded the motion.
The committee VOTED unanimously to approve the motion.

D.

Approve Agenda

R. Collins made a motion to approve the agenda.
H. Worsley seconded the motion.
The committee VOTED unanimously to approve the motion.

II. Finance

A.

Pataula - Monthly Financial Reports

The committee reviewed financial reports through November 2023. PCA is on track to meet on Financial CPF. 

B.

SCCA - Monthly Financial Reports

The Committee reviewed financial reports through November 2023. SCCA is on track to meet on Financial CPF. 

C.

FY 24 SCSC Monitoring Results

PCA had no findings, however, the Commission notated one Adverse Practice; The SCSC recommends that when reporting fund balance at least one of the following components be included: *non-spendable fund balance *restricted fund balance *committed fund balance *assigned fund balance *unassigned fund balance It is also recommended that its Governing Board develop policies to detail how the fund balance for the school’s General Fund is managed, outlining both the constraints on how resources of the fund can be spent and the sources of those restrictions. Cheryl has added "unassigned" to our fund balance sheet. Cheryl and Rhonda will work on updating policies.

III. Closing Items

A.

Adjourn Meeting

R. Collins made a motion to adjourn the meeting at 5:50.
H. Worsley seconded the motion.
The committee VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 5:50 PM.

Respectfully Submitted,
C. Weathersby