Seaside School, Inc

Finance Committee Monthly

Published on May 9, 2024 at 4:59 PM CDT
Amended on May 10, 2024 at 6:34 AM CDT

Date and Time

Friday May 10, 2024 at 9:15 AM CDT

Founded in 1996
Serving Students in Grades 5 - 12

 

We seek to sustain an educational community where an emphasis on academic excellence is complemented by our concern for each learner’s personal growth and intellectual, aesthetic, and psychological development. The curriculum is developmentally responsive – actively engaging students in learning skills in context, integrative – directing students to connect learning to daily lives, and exploratory – enabling students to discover their abilities, interests, learning styles, and ways that they can make contributions to society.

 

 

Information on procedures for public comment can be found at https://www.seasideschools.net/domain/35.

 

If anyone needs special assistance to participate in the public input session, every effort will be made to provide an appropriate accommodation. When requesting accommodations for public input, please allow no less than 1 business day notice prior to the scheduled meeting.

 

Specific issues about a particular student should only be addressed to the school’s Director of Student Services, rather than the Board of Directors.

 

All public comments will be taken under advisement by the Board, but will not elicit a written or spoken response. The names of persons providing public comment and a brief summary of topics or input will be included in the meeting minutes published. A response will be provided to the stakeholder within seven (7) days.

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 9:15 AM
  A. Record Attendance   1 m
  B. Call the Meeting to Order  
  C. Approve Minutes Approve Minutes Frank “Chip” Brown 1 m
    Minutes for Finance Committee Monthly on April 16, 2024  
II. Finance 9:17 AM
  A. SFS Update Vote Lily Meadows 10 m
   

Highlights:

  • Current year Revenue & Expense statements shows a $110K surplus, largely in the General Fund.
  • To further assist with everyone’s understanding of the activity within the financial statements, I have separated the Balance sheet and the Summary Revenue and Expense by Fund so the Activity of each can be seen independently. The Middle/High/Board tabs are still available to drill down into the transactional detail that makes up the figured on the summary tab.  
  • REVIEW TAB
    • Summary of Cash Flow & Cash Projections. (Foundation has not been updated for April activity.)
      • Projected Surplus right now is $20K; taking additional $50K from Foundation Draw (increased from last month).
      • The cash flow within this file is condensed; there are many ‘moving pieces’ to the projections at this time. Due to the detail and time needed to discuss, I propose that Chip, Tom/Tricia and our team gather on a separate Zoom meeting to go over all variables and the effect of same

 

 
     
  B. Budget Notes Discuss Thomas Miller 10 m
   

These are the areas that need review and recommended amendment to the budget to maintain a balanced budget

Click Here for access

 

Questions for SFS:

The school has received over $76,000 in local grants. Tricia is working to identify each deposit date. 

We would like these funds to be allocated in the General Donations/Grants item

- Tricia is creating mini-budgets per grant

 

Agreed expenses added in April:

  1. Hiring of Grant Writer estimated $9,000/mo. starting in May.
    1. Contracted Consultant line (May = $9,000 - Balance $10,000)
  2. Contract to assist Teresa with Capital Campaign $5,000/mo starting in May.
    1. Contracted Consultant line (May and June  = $10,000 of $20,000 balance $1,000))
    2. We will amend another line for the $9,000 in June (there are two under 5100 that have $10,000 balance)
  3. Additional $7,000 in ‘other’ advertising above Bobby Parker’s contract.
    1. This was a requested budget amendment in December 2023 
 
  C. 2024-2025 Drafted Budget Discuss Thomas Miller 10 m
   

Drafted Budget shared in April

(Click here)

 
III. Other Business 9:47 AM
  A. Expansion/financing Update Discuss Kav Tucker 5 m
IV. Closing Items 9:52 AM
  A. Adjourn Meeting Vote