Hogan Preparatory Academy
Minutes
HPA BOD Finance Committee Meeting
Date and Time
Thursday April 18, 2024 at 12:30 PM
Location
Committee Members Present
Albert Ray (remote), Erin Lenihan (remote), LaDonna Johnson (remote)
Committee Members Absent
None
Guests Present
Janice Thomas (remote), espilker@phalenacademies.org (remote), jamie@ed-ops.com (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
Albert Ray called a meeting of the Finance Committee of Hogan Preparatory Academy to order on Thursday Apr 18, 2024 at 12:36 PM.
C.
Approve Minutes
Erin Lenihan made a motion to approve the minutes from HPA BOD Finance Committee Meeting on 03-14-24.
Albert Ray seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| Erin Lenihan |
Aye
|
| Albert Ray |
Aye
|
| LaDonna Johnson |
Abstain
|
II. Finance
A.
Finance
- Third quarter closeout; ESSEER funds need to be spent by 6/30/24.
- Enrollment & attendance created a deficit for this year
- Increase in transportation costs---rebid transportation?
- HR presented:
- Teacher retention
- Retention: Stipends for $1000 and $500 for instructional and support staff
- 3% merit increases
- Teacher retention
- BOK to present investment options; Jamie Berry will be contact
- Refinancing of KLS loan to decrease expenses
- Grants: $400K from DESE and elementary school afterschool program grant extended until July.
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 1:30 PM.
Respectfully Submitted,
Albert Ray