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Veritas Preparatory Charter School

Finance Committee Meeting

Published on May 16, 2023 at 3:41 PM EDT

Date and Time

Thursday May 18, 2023 at 4:00 PM EDT

Location

Veritas Prep Charter School 1st Floor Conference Room or Dial-In Number: 866-848-2216, Conference Code: 7783935205, Leader Code: 2356

 

 

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Agenda

      Purpose Presenter Time
I. Opening Items 4:00 PM
  A. Record Attendance   Nicole Gauthier 1 m
  B. Call the Meeting to Order   Denise Ford 1 m
  C. Approve Minutes Approve Minutes Denise Ford 1 m
    Approve minutes for Finance Committee Meeting on April 20, 2023  
II. Finance 4:03 PM
  A. Monthly Financial Reports FYI Lynne Mills 10 m
   

Lynne will provide an overview of the monthly financials for the committee. 

  
  B. 5 Year Budget Projections Discuss Lynne Mills 10 m
   

Lynne will share an update to the 5 year projections with the committee. 

 

Please note the following changes from the A-4 version of the 5 year projections to this A-5 revision:

  • Furniture and equipment expense is increased by $50,000 to account for increased costs with the final quotes and a decision to install lockers on the second floor of the high school
  • Instructional supplies is increased by $60,000 to account for supply and material costs to continue at the increased prices we have experienced in FY23
  • Early College costs increased by $20,000 to allow for a line item contingency
  • To balance the budget the small difference of about $9k was added to the contingency
  
  C. FY2024 Budget Updates Discuss Lynne Mills 10 m
   

Lynne will share FY2024 budget updates with the committee. 

  
  D. Capital Plan Discuss Lynne Mills 25 m
   

Lynne will review the Capital Plan budget draft with the committee. 

  
III. Other Business
IV. Closing Items 4:58 PM
  A. Adjourn Meeting Vote Denise Ford 1 m