Brevard Academy
Minutes
Monthly Finance Meeting
Date and Time
Tuesday June 18, 2024 at 8:30 AM
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 (remote), Paul Cooper, Ted Duncan
Committee Members Absent
None
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
Review Financial Reports
B.
Vendor Contract Renewals
Juli will reach out to ask about this.
We will renew with the Insurance People.
III. Other Business
A.
Review Committee Goals
We met one of our goals: Implement Encumbered Funds Spreadsheet.
B.
Review Upcoming School Needs
IV. Closing Items
A.
Other Business
We pay our USDA loan once a year and our payment is due next week. USDA has let us know that we will have to add 10% of our annual payment to the account every year ($29,680) until we reach the payment amount ($296,000). There is an account in First Citizen's bank with $20,000. It was suggested that we take the money that is in that account and put it into the account for the USDA loan and add the remainder needed from budgeted funds.
May 2024 Reconciled Budget Analysis Report was reviewed.