Great Oaks Charter School - Bridgeport
Minutes
GOBPT April Finance Committee Meeting
Date and Time
Wednesday April 3, 2024 at 5:00 PM
Location
375 Howard Ave.
Bridgeport, CT 06605
Committee Members Present
Bea Bagley (remote), Bob Carlson, Corey Sneed (remote), David Zieff
Committee Members Absent
Eva Vega
Guests Present
Benjamin Chan, Farah Martin, John Scalice, Latoya Hubbard
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
Corey Sneed called a meeting of the Finance Committee Committee of Great Oaks Charter School - Bridgeport to order on Wednesday Apr 3, 2024 at 4:52 PM.
C.
Approve last month's meeting minutes
Bob Carlson made a motion to approve the minutes from GOBPT March Finance Committee Meeting on 03-13-24.
David Zieff seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Administrative / Financial Overview
A.
Current Cash Position
III. Financial Review
A.
Dashboard & Financials
B. Chan discussed the budget and actuals. This document shows all 3 quarters, average budget for those 3 quarters and the last two columns are the total expenses and what the budget would argue for.
The budget to actuals FY 24 has specific numbers including details. C. Sneed discussed the possibilities of a rainy day fund. C. Sneed also asked CFO, B. Chan, to audit the lease going forward so that we are in compliance with our lease along with the audit.
IV. Additional Items
A.
Updates
No new updates.
B.
New Vendors
The school has three new vendors.
- Charter Technology Solutions- New School vendor for WIFI Access Points. This is a new license. This year the suggestion is to use E-Rate. The school would pay only 15% for CTS for the $12,000.
- Muse Paint Bar- for $1100 for Middle School Field Trip.
- American Dream Mall- End of year Senior Trip.
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 5:34 PM.
Respectfully Submitted,
Corey Sneed
CFO, Ben Chan, bank statements are not available until the 5th of the month. We can't close the books just yet.
Reconciliation and statements- a member of the finance committee can approve on the stipulation that if anything odd comes up they have to bring it up to the finance committee.
4th quarter per pupil came in at the end of march.
Total: $2,243,795
Credit card balance: $4,596
ERC follow up- B. Chan reached out to new CEO again. They will have a phone call with leadership next week. The finance committee and leadership discussed ERC next steps.