Great Oaks Charter School - Bridgeport
Minutes
July Finance Committee Meeting
Date and Time
Thursday July 13, 2023 at 9:00 AM
Location
375 Howard Avenue
Bridgeport, CT 06605
Committee Members Present
Bob Carlson, Corey Sneed (remote), David Zieff
Committee Members Absent
Eva Vega
Guests Present
Benjamin Chan, Farah Martin, Janay Garrett, John Scalice, Latoya Hubbard
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
Bob Carlson called a meeting of the Finance Committee Committee of Great Oaks Charter School - Bridgeport to order on Thursday Jul 13, 2023 at 9:14 AM.
II. Financial Overview/Administrative
A.
Current Cash Position
III. Financial Review
A.
June Dashboard & Financials
End of year is not a firm but a soft close, but revenue is higher than expected and payroll is under control.
Facilities expenses we need to continue to look out for, as it relates to maintenance, electricity, cleaning, etc. because it hit us hard this year and there wasn't much room for negotiating contracts, etc.
B.
June Credit Card Statement
C.
YTD federal grant cash availability
IV. Additional Items
A.
Additional Items
David Zieff made a motion to authorize Corey to approve PEO vendors once we reach that decision.
Bob Carlson seconded the motion.
The committee VOTED unanimously to approve the motion.
David Zieff made a motion to approve Justice Walk LLC as a new vendor.
Bob Carlson seconded the motion.
The committee VOTED unanimously to approve the motion.
B.
Recurring
V. 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 10:00 AM.
Respectfully Submitted,
Bob Carlson
Cash position is solid, 2.281 in Checking, will rebalance food service and reserves with that in mind.
We will start reviewing cashflow weekly, in the coming weeks
D. Zieff asked about the cash reserve and whether or not we get down to 0 or below.
B. Chan noted that the current credit card balance gets paid down in the next week.