Libertas Academy Charter School
Minutes
Monthly Finance Committee Meeting
Date and Time
Thursday November 10, 2022 at 5:30 PM
Location
Join Zoom Meeting
https://us04web.zoom.us/j/5069946767?pwd=QXEvbzlHb0tYZWE4VHl6MCtrVFlGUT09
Meeting ID: 506 994 6767
Password: 12345
Committee Members Present
A. Langone, M. Montero, P. Kkayego
Committee Members Absent
C. Marie, L. Velez, S. Lapolice
Guests Present
K. Frett
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
P. Kkayego called a meeting of the Finance Committee of Libertas Academy Charter School to order on Thursday Nov 10, 2022 at 5:35 PM.
C.
Approve Minutes
P. Kkayego made a motion to approve the minutes from Monthly Finance Committee Meeting on 10-13-22.
A. Langone seconded the motion.
N/A
| Roll Call | |
|---|---|
| S. Lapolice |
Absent
|
| P. Kkayego |
Aye
|
| C. Marie |
Absent
|
| L. Velez |
Absent
|
| M. Montero |
Abstain
|
| A. Langone |
Aye
|
II. Finance
A.
Financial statements
P. Kkayego made a motion to Approve the financial statements.
M. Montero seconded the motion.
Finacial statement were approved
| Roll Call | |
|---|---|
| A. Langone |
Aye
|
| S. Lapolice |
Absent
|
| C. Marie |
Absent
|
| L. Velez |
Absent
|
| P. Kkayego |
Aye
|
| M. Montero |
Aye
|
B.
Discussion on Libertas Academy new location
More will be discussed during the board meeting. However, due to some unexpected events and current inflation, the project is experiencing a delay.
The finance committee will most likely have a better picture around the mid of December.
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 6:25 PM.
Respectfully Submitted,
P. Kkayego
Libertas is in a strong financial position. With 4.5 times more current assets to cover liabilities based on current ratio, a net position of $490,692.00 and a cash flow ending balance of $1.2 million. AP is in good place.
Discussed an adjustment on the summary dashboard of about $50K, should be reflected in the statements send to the board review.
Financial statements were reviewed and approved.