Atlanta Unbound Academy
Minutes
Atlanta Unbound Academy 1st Budget Amendment Public Hearing
AUA 1st Budget Amendment Hearing
Date and Time
Wednesday February 8, 2023 at 6:00 PM
Location
6PM AUA 23-24 Budget Public Hearing 1
GoogleMeet Link:
Video call link: https://meet.google.com/ufh-wbtc-ccs
Or dial: (US) +1 224-935-5014 PIN: 395 838 052#
Directors Present
A. Williamson (remote), J. Funderburk (remote), L. Belvitt (remote), M. Brogdon (remote), M. Childress (remote), T. Jones (remote)
Directors Absent
J. Green, R. Pompey, S. M
Ex Officio Members Present
C. Ramsey-Brown (remote)
Non Voting Members Present
C. Ramsey-Brown (remote)
Guests Present
A. Chipman-Leeks (remote), Shavon Martin (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
L. Belvitt called a meeting of the board of directors of Atlanta Unbound Academy to order on Wednesday Feb 8, 2023 at 6:07 PM.
II. Finance
A.
Budget OVerview
III. Other Business
A.
Enrollment
275 applications for our operations team
Historically our #s were 400-500 apps around this time
App deadline is at end of Feb - driving low apps (ppl want to know the location) - Feb 17th d
Facilities issue
We came in lower with our enrollment projections
IV. 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 6:38 PM.
Respectfully Submitted,
A. Williamson
We need to be more conservative with per pupil funding
Took deficit back to $600,000
Candace & Shavon have collaborated
Cut back on coaching and development
Currently $300,00k deficit. Where do we want to do budget cuts for next year?
Consider shifts in healthcare
March - May busy time for hiring
This year is the first year the school has deficit b/c we're cutting into the reserve
We can manage a deficit for 1-2 years. After 1-2 years, the deficit eats at our reserve and it eats at our state compliance. WE have to have 45 days cash on hand. This year took a big hit with lower enrollment with 2 locations
Aft 2023-2024 school year we cannot run a deficit
Funders will look at trends as we purchase these facilities. We have to show our enrollment can support our operations.
Multiple years of deficits in context of facilities will be challenging
Focus on enrollment & get those trends up
252 days of reserve - year 1
111 days of reserve - year 2
90 days of reserve - year 3
44 days of reserve year 4 - which is right at compliance