Alabama Aerospace and Aviation High School
Minutes
AAHS Budget Meeting
Date and Time
Tuesday August 15, 2023 at 2:30 PM
Location
1414 2nd Ave N, Bessemer, AL 35020
Directors Present
C. French (remote), C. Knight, J. Smith, P. Wilson, R. Smith, S. Underwood, T. Mills, T. Russell (remote), T. Wright
Directors Absent
G. Kim, L. Pineda, M. Sims
Directors who arrived after the meeting opened
C. French, J. Smith
Directors who left before the meeting adjourned
C. French, T. Russell
Guests Present
Eric Rowe, J. Fitts, M. Haynes, P. Allen, R. Morris, R. Raney
I. Opening Items
A.
Roll Call & Establishment of Quorum
B.
Call the Meeting to Order
C.
Adoption of the Agenda
D.
Approve Minutes
II. CNP Administrative Review
A.
CNP Administrative Review
III. Financial Report
A.
Treasurer's Report
Current budget fund is at $321k but with funds coming in next month equal to approx. $240k and almost all of the funds are reimbursable. So we do not have the money until after we spend it. The largest funds are reimbursable with the largest, CSP, on a quarterly basis. Cash flow is tight, but this is a common struggle for charter schools. Presented by our CFO, Russell Raney.
IV. Chief Executive Officer's Report
A.
School Updates
Enrollment numbers are at ninety freshmen, seventy sophomores, and eighteen juniors. Recruitment has included yard signs, R. Morris and E. Rowe going on La Jefe local radio station, and we will attend Birmingham's largest Latin X event later this year.
We currently have $7.2 mil in outstanding grants.
R. Morris and C. Knight traveled to Macon recently in regards to K-8 expansion.
The school is fully staffed. C. Knight suggested a personnel committee.
Exploring creating an Air Traffic Control Pathway.
B.
Facilities Update
The building leaks have been addressed, electricity on the cafeteria side is being upgraded so that we may start cooking on site.
V. Budget Presentation
A.
Budget Presentation by Russell Raney
The FY 2024 General Fund and overall budget is positive, with revenues exceeding expenditures, however, the margins are tight and a consservative approach to spending must be taken until additional sources of revenues are secured.
The CSP, CSGF, and NSVF grants are providing much needed resources for FY 2024, and are helping to fund salaries/benefits and stipends. Once these grants end, additional funding will need to be secured to help fund school operations.
Enrollment growth is important, not only to help fund instructional positions, but to increase OCE funding from the LSDE to help cover non-instructional costs.
The ALSDE increased the amount of transportation funding for FY 2024, and the allocation will fully fund the transportation contracted services.
VI. New Business
A.
Upcoming Events
All students will be transported to Tuskegee on Thursday, September 28th for the annual fly-in followed by the Champions of Excellence Dinner in Bessemer on Friday, September 29th. Board members welcome and encouraged to attend both events.
P. Allen presented details on the CNP review, what happened, why it was submitted late, and how it affected our state funding. This loss of funding equated roughly to $800-$1600.