Brevard Academy
Minutes
Finance Committee Meeting
Date and Time
Tuesday September 17, 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
Committee Members who arrived after the meeting opened
Emily Webb
Guests Present
Ali Liubenov
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
C.
USDA Update
Mr. Paul Cooper
- 2 contractors for civil engineers are bidding on report. This is the final item that we need to submit.
-stayed in touch with Courtney at First Bank, first out of pocket is not quite $70,000. We are requesting $2 million for building loan. We have to reserve 25% in our encumberant credit/funds for this loan. Courtney is not positive that we can get this approved for $400,000.
After we get USDA approval, Cooper can get playground started pretty quickly. This will be about 7 months lee-time. We need to move forward with playground first, so that they are not in Cooper's way. We want to spend as little time as possible without a playground.
Look into for long term endowment fund. What guidelines/documentation do we need to look into? Charter schools can make foundations as well. Creating this would be great. Ms. Lefler and Jen Silva to look into this and what it takes to make a foundation. This is not a time sensitive goal.
III. Other Business
A.
Review Committee Goals
The minimum surplus is based on 1% of state revenues, $37,000. But keeping our goal as $50,000.
B.
Review Upcoming School Needs
Need Board Approval
- Buying of new school bus, hoping to make this an action item ($30,000)
- addition of another Instructional Assistant ($20,000)
IV. Action Items
A.
Board Action Items
- 2 additional lines in the budget
- New school bus purchase/finance
- New Instructional Assistant
V. Closing Items
A.
Announce Date of Next Meeting
October 15 at 8:30am
The committee discussed the report.
Mr. Duncan is projecting additional revenue for the school year.
Ms. Lefler and Mr. Duncan have been discussing using Proliant or ADP. This will help keep better track of checks, flex time, sick time, and PTO time.
Proliant seems a better fit. They have a dedicated person for your account, and are a better fit financially for our budget per year. Will maybe take a year to get all the systems in place. Proliant understands our system and size of our school. Staff are able to log in and keep better track of their time, pay stubs, and can e-verify. Will streamline payroll. Integrate supplemental insurance on the portal as well. Help with onboarding new staff, and substitutes. Makes sense to start onboarding process with Proliant January 1 (goal), but may be closer to June/July, because of all the systems that need to be integrated.
We need to add lines to the budget. - Requires Board Approval
1. STEM Building
2. 4-8th Grade Science Supplies under Books and Supplies ($3,000) moving from Miscellaneous Instructional Supplies