Brighter Choice Charter Schools
Minutes
Finance Committee Meeting
Date and Time
Thursday July 13, 2023 at 8:00 AM
Location
250 Central Ave. Albany, NY 12206
Committee Members Present
K. Ford, K. Mclean (remote), L. Licygiewicz, M. Snyder (remote), N. Velilla, R. McLaughlin
Committee Members Absent
None
Guests Present
Z. Nelson
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
June Financials Report - Paul Augello.
Paul Augello provided May financials which ended better than the budget. The budget changes for 23-24 are "nothing substantial." The per pupil funding level for NYS has gone up. The schools saved money on food service.
B.
ERC Update
The Employee Retention Credit was deposited in Berkshire Bank account. It will need to stretch out over 5 years. Paul will explore how other organizations are treating these funds.
C.
Playground Equipment Update
K Ford explained the plan to expand and improve the playground facilities. The quotes were asked of 3 companies. The winning bid is from Creative Playthings.
The Boys' school has two spaces, and K McLean is requesting improvement of the K-2 playground. The cost estimate is $60K. Timing would be 4-8 weeks.
D.
403b Amendment Update
Luke explained that there will be a Roth IRA option added to the options. The amendment is being worked on and should be complete in August. The board will be informed if signatures are needed.
WIll be approved next meeting.