Brevard Academy
Minutes
Monthly Finance Meeting
Date and Time
Tuesday November 14, 2023 at 8:30 AM
Location
Director's Office
Mission:
The Mission of Brevard Academy is to prepare its students to achieve academic excellence through the Core Knowledge Sequence. Through a partnership involving students, teachers, and parents the school strives to create citizens with strong moral character and active intellectual inquiry.
Vision:
Brevard Academy: A Challenge Foundation Academy (BA-CFA) a K-8 public charter school develops and encourages motivated, intellectually curious students who are skilled in critical thinking, individual expression, and problem-solving. From their diverse backgrounds, students accept our challenge to pursue personal and academic excellence. Through this pursuit, they become confident members of their community who lead by serving others.
Strategic Goals:
- Provide Effective & Innovative Learning Environments
- Recruit, Hire and Retain Highly Effective Personnel
- Use Resources Effectively & Be Fiscally Responsible
Committee Members Present
Emily Webb, Juli Lefler, Paul Cooper, Ted Duncan
Committee Members Absent
None
Guests Present
Cory Draughon
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
Review Financial Reports
- Cory D. from Charter Success Partners is presenting to give us a review of Insights, the upgraded charter school budgeting program.
- The interim budget is updated daily and the Financial Report is updated monthly.
- We will be able to produce our own Board Report.
- Changes are updated nightly, or sooner if needed and Caleb through CSP is contacted.
- The committee reviewed the Financial Report on Insights.
- ERC - Employee Retention Credit - the IRS has paused processing these requests. Will begin reprocessing in Jan. 2024. Best case scenario - June 29,2024 and worst case is Jan 2025. All previous CSP clients were funded.
- ESSER money is secure.
- The audit is completed. We have a completed audit with no findings.
B.
Employee Retention Credit
Cory gave an update on the ERC.
- Feds paused until January 2024
- Possible funding in FY25
- All CSP clients who applied were funded.
C.
Vendor Contract Renewals
- Renewal for WSQL contract is being reviewed by Paul and Ted.
III. Action Items
A.
Proposed BOD Meeting Approvals
Projection was updated in Rents and Debts Services to reflect no USDA spending for improvements or additional loan and match last year's mortgage payments.