Albany Leadership Charter School for Girls
Minutes
Monthly Finance Committee Meeting
Date and Time
Thursday October 23, 2025 at 10:30 AM
Location
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Committee Members Present
E. Robertson (remote), J. Celestine (remote), M. Moree (remote), R. Large (remote)
Committee Members Absent
None
Guests Present
A. Harrison (remote), J. Moreau (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Draft Audit Presentation from Cusack & Co.
A.
Audit Update
Cusack & Co. prepared and presented on the 2024-25 audit. There are some items for which a corrective action plan was requested, prepared and submitted. The Committee will work with the leadership team to update the Financial Procedures handbook, as it appears some aspects of the process are not being followed.
III. Finance
A.
Monthly Financial Statement Review
B.
Enrollment & Budget Modification Review
Dr. Large noted that enrollment is largely holding steady. BEDS Day reported 294; enrollment is currently at 280 but new applications are being processed. Committee reviewed and discussed the material budget modification that will be submitted to CSI. A discussion followed on what should be a reasonable revenue (enrollment) target for that budget.
Separately, Ms. Moree updated the committee on the two meetings held with bondholders and the bond trustee. Meetings were overall positive and moving in a direction that should be a net positive, although it is imperative we settle on an enrollment number and budget plan that is viable. The staffing realignment discussed at September meeting was also discussed with bondholders and a draft budget realignment was also shared. Inaction on that may give them pause.
Dr. Large noted that enrollment is largely holding steady. BEDS Day reported 294; enrollment is currently at 280 but new applications are being processed. Committee reviewed and discussed the material budget modification that will be submitted to CSI. A discussion followed on what should be a reasonable revenue (enrollment) target for that budget.
Separately, Ms. Moree updated the committee on the two meetings held with bondholders and the bond trustee. Meetings were overall positive and moving in a direction that should be a net positive, although it is imperative we settle on an enrollment number and budget plan that is viable. The staffing realignment discussed at September meeting was also discussed with bondholders and a draft budget realignment was also shared. Inaction on that may give them pause.
IV. Closing Items
A.
Adjourn Meeting
- AUP Report 4723 2025 Draft.pdf
- Financial Statements 4723 2025 Draft.pdf
- ALCSG Sep25 Financials.pdf
Mr. Moreau reviewed the September financial statements with the Committee. DIscussion ensued on action to be taken, as discussed at the September meeting, to align staffing with current enrollment. Dr. Large noted that staff realignment takes time, and positions to be adjusted were sent to outside counsel for review. He had not heard back from outside counsel. Committee members noted that the longer alignment is delayed the more problematic this becomes.