Aurum Preparatory Academy
Minutes
Emergency Board Meeting
Date and Time
Thursday August 2, 2018 at 9:30 AM
Location
888-661-7091; PIN: 9281112
Directors Present
J. Jordan, J. Weinstein-Carnes, K. Fliss, L. Garcia Giacomo, M. Hall, P. James, V. Toke
Directors Absent
A. Benedetto
Directors who arrived after the meeting opened
J. Jordan, M. Hall, V. Toke
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
P. James called a meeting of the board of directors of Aurum Preparatory Academy to order on Thursday Aug 2, 2018 at 9:30 AM.
C.
Approve Charter School Capital Loan on Wednesday
M. Hall arrived.
V. Toke arrived.
K. Fliss made a motion to Approve the Charter School Capital Loan on Wednesday, August 8th, if the CDE loan does not come in time.
L. Garcia Giacomo seconded the motion.
The board VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| K. Fliss |
Aye
|
| J. Weinstein-Carnes |
Aye
|
| P. James |
Aye
|
| M. Hall |
Aye
|
| J. Jordan |
Aye
|
| L. Garcia Giacomo |
Aye
|
| V. Toke |
Aye
|
| A. Benedetto |
Absent
|
II. Finance
A.
Charter School Revolving Loan Fund
J. Jordan arrived.
P. James made a motion to Approve the CDE loan for $250,000.
K. Fliss seconded the motion.
The board VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| J. Jordan |
Aye
|
| J. Weinstein-Carnes |
Aye
|
| V. Toke |
Absent
|
| K. Fliss |
Aye
|
| A. Benedetto |
Absent
|
| M. Hall |
Absent
|
| L. Garcia Giacomo |
Aye
|
| P. James |
Aye
|
III. 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,
P. James
Now, we have learned that we can get CDE funding. If we vote to approve and expedite the process, the funds will come "in a few business days." We need to have the funding by Friday, so we can make payments the following week.
The alternative is to go with Charter School Capital. If we take this route, the additional cost to Aurum is somewhere around $4,000.
The disbursement schedule of the CDE loans is new. This is why we decided to wait until seeking board approval.