Veritas Preparatory Charter School
Finance Committee Meeting
Date and Time
Location
Veritas Prep Charter School 1st Floor Conference Room or Dial-In Number: 866-848-2216, Conference Code: 7783935205, Leader Code: 2356
ID: 82384629673
Passcode: 966439
Passcode: 966439
Agenda
| I. | Opening Items | |
| A. | Record Attendance | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes | |
| Approve minutes for Finance Committee Meeting on March 16, 2023 | ||
| II. | Finance | |
| A. | Debt Service Covenant Updated Language | |
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The committee will review and recommend to the Board for Board approval to update the Debt Service Covenant to read:
“DSCR: Guarantor and Borrower on a combined basis, shall maintain a Debt Service Coverage Ratio (DSCR) of not less than 1.20:1.00. Defined as: Combined Net income plus depreciation, amortization and interest expense divided by annual principal and interest payments.” |
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| B. | 5yr Projections - Scenario A-4 | |
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Lynne will share a draft of Veritas' 5 year projections as Scenario A-4 which represents ideal enrollment, funding, and expense expectations. |
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| C. | Monthly Financial Reports | |
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Lynne will provide an overview of the monthly financials for the committee. |
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| III. | Other Business | |
| IV. | Closing Items | |
| A. | Adjourn Meeting | |