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.
Approve Minutes
D.
Approve Agenda
II. Finance
A.
Pataula - Monthly Financial Reports
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.
The committee reviewed financial reports through November 2023. PCA is on track to meet on Financial CPF.