Athlos Jefferson Parish
Minutes
Finance Committee Meeting
Date and Time
Wednesday May 19, 2021 at 6:30 PM
Location
Athlos Academy Of Jefferson Parish
979 Behrman Hwy, Terrytown, LA 70056
https://zoom.us/j/98612850866
Committee Members Present
H. Wier (remote), S. Sewell (remote)
Committee Members Absent
None
Guests Present
C. Vollmer (remote), J. Turgeon (remote), john phan (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
H. Wier called a meeting of the Finance Committee of Athlos Jefferson Parish to order on Wednesday May 19, 2021 at 6:35 PM.
C.
Approve Minutes
S. Sewell made a motion to approve the minutes from Finance Committee Meeting on 04-21-21.
H. Wier seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Discussion
A.
Bond Update
B.
Monthly Financials
Monthly Financials- Celeste
Federal grants are a little behind.
Supplies and materials were well under-budgeted.
Equipment slightly over budget.
Federal grants are a little behind.
Supplies and materials were well under-budgeted.
Equipment slightly over budget.
C.
FY 21 Budget Revision
FY 21 Budget Revision- Celeste
Most significant increase is state funding increase and federal grants.
1M fund balance increase, very healthy.
No major changes to staffing.
Under-estimated interest income.
Most significant increase is state funding increase and federal grants.
1M fund balance increase, very healthy.
No major changes to staffing.
Under-estimated interest income.
D.
FY 22 Budget
FY22 Proposed Budget- Celeste
Assumptions: enrollment is primary
Discussion on factors, including salaries.
Strong growth in general fund.
Stephen asked if budget includes salary increase (5%)- yes
Assumptions: enrollment is primary
Discussion on factors, including salaries.
Strong growth in general fund.
Stephen asked if budget includes salary increase (5%)- yes
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 7:20 PM.
Respectfully Submitted,
J. Turgeon
Had meeting with Celeste to get basic school financial and academic information
First step- Purchase option is not for another couple of years (2023 or 2024), so need to negotiate with landlord to get purchase price. Will be done in closed session but need appraisal. Can get for $5500 but will get other quotes.
Shared milestone schedule with committee.
Will look at lender who can offer discounts for schools who serve at-risk students
Potential closing in October.
Stephen asked about appraisal coming back lower than expected.