Northwood Academy Charter School
Minutes
Finance Meeting
Date and Time
Wednesday June 3, 2026 at 5:00 PM
Location
Topic: Finance Committee Meeting
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This is a public meeting of the Finance Committee of the Board of Trustees of Northwood Academy Charter School that was properly advertised pursuant to the Pennsylvania Sunshine Act. The public meeting schedule is posted at the school and on the website.
Members of the public are welcome to attend and listen to the Finance Committee conduct its business tonight. All written comments submitted to the Committee via email (board@northwoodcs.org) will be acknowledged and incorporated into the official minutes. This meeting is accessible to the public via the remote platform Zoom and is being recorded.
Meeting will be conducted via Zoom platform with the ability to join via phone as well.
Join Zoom Meeting: https://us02web.zoom.us/j/81039841245
Committee Members Present
C. Jones (remote), F. Ayata (remote), F. Viall (remote), J. Hamer (remote), K. Spraga (remote), S. Yanni (remote), T. Hunt (remote)
Committee Members Absent
None
Guests Present
E. Lofton (remote)
I. Opening Items
A.
Call the Meeting to Order
B.
Record Attendance
C.
Approve Agenda
D.
Approve previous Meeting Minutes from May 6, 2026.
Minutes will be approved at the next meeting sue to issue with opening them for review.
E.
Community Comment
II. CBAs, Resolutions & Discussion Items
A.
Resolution 2026.044: March 2026 Finance Report
NACS surplus is increasing, the cash reserves are strong and the food service revenue is back on track. The IEDA Grant of $134K has been awarded but no funding was awarded from the SPED Contingency Grant.
B.
Formal Resolution: Authorization for Frank Ayata and Steve Yanni as signatories to the TD Bank accounts
C.
Discussion: 2026-2027 NACS Budget Development - Final
Final Budget will be presented at the June Board Meeting.
D.
Discussion: Purpose and Need for Committed Fund Balances - Curriculum, Facilities, Technology
Designated Fund Balanaces established for the following categories totaling $800K.
Contingency Fund
Curriculum (Pilot of Math Expressions)
Facilities
Specialized Services
Technology
E.
Discussion: Mortgage Re-Finance
No change here, awaiting on Charter Renewal.
No Community Comment for this meeting.