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Pharos Academy Charter School

Pharos Academy Charter School Finance Committee Meeting

Date and Time

Tuesday August 15, 2023 at 5:00 PM EDT

Location

https://bronxlighthouse.zoom.us/j/5239033349

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 5:00 PM
  A. Record Attendance   Courtney Russell 1 m
  B. Call the Meeting to Order   Keyur Shah 1 m
  C. Approve Minutes Approve Minutes Keyur Shah 1 m
   
  • Approve previous month's minutes
  
    Approve minutes for Pharos Academy Charter School Finance Committee Meeting on July 18, 2023  
II. Other Business 5:03 PM
  A. Items Over 50K Discuss Courtney Russell
   
  • N/A
  
  B. Financial Policies and Procedures (FPP) Discuss Courtney Russell 5 m
   
  • Revised to include electronic Parent Payment options

Receiving, Processing and Recording Electronic Payments

 

“Customers” (such as families) will have the ability to submit payment for school related items via electronic means.  The following process will be enacted in order to collect these funds:

  • The school will notify the customer of the amount due for a particular good or service (example:  senior dues, Pharos branded sweatpants, etc.) via a school platform (such as Parent Square, as one example)
  • The school will collect payment through an electronic avenue, such as ParentSquare.  The customer will be provided with the option to pay via electronic means
  • These electronic payment methods will be linked directly to the school’s Chase checking account
  • Each month, the school’s Chief Operations Officer will download a report from the electronic site (such as ParentSquare) and email a copy to the school’s external financial partner
  • Monies received will be recognized and recorded through the School’s accounting systems
  • Customers will receive an electronic receipt via a system generated message to their email and/or text message
  
III. Finance 5:08 PM
  A. Monthly Financials Discuss Shahzada Rasheed 10 m
IV. Investment Accounts 5:18 PM
  A. Investments Discuss Shahzada Rasheed
   
  • Next update - October 2023
  
V. Closing Items 5:18 PM
  A. Adjourn Meeting FYI Keyur Shah 1 m