Nuasin Next Generation Charter School
Minutes
Finance Committee Meeting
Date and Time
Thursday January 20, 2022 at 4:05 PM
Location
Join Zoom Meeting
https://metlcs.zoom.us/j/99333770398?pwd=MGgrcVE1L2RKSjdKT2syazVabjJRUT09
Meeting ID: 993 3377 0398
Passcode: 779998
https://metlcs.zoom.us/j/99333770398?pwd=MGgrcVE1L2RKSjdKT2syazVabjJRUT09
Meeting ID: 993 3377 0398
Passcode: 779998
Mission
We prepare our students for college through a rigorous arts-infused program.
Vision
All students will be taught by a highly effective teacher in a nurturing environment and will achieve at high levels. Each student will develop the knowledge, skills and values necessary for responsible citizenship and life-long learning. The impact of our collective efforts will fundamentally change public education.
Committee Members Present
A. Bothner (remote), E. Chen (remote), S. Pressley (remote), T. Bryan (remote)
Committee Members Absent
K. Brisseau
Committee Members who arrived after the meeting opened
T. Bryan
Guests Present
K. Davidson (remote), K. Perez (remote), M. Alston (remote), M. Russell (remote), R. Keogh (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
S. Pressley called a meeting of the Finance Committee of Nuasin Next Generation Charter School to order on Thursday Jan 20, 2022 at 4:06 PM.
II. Finance
A.
General Updates
B.
December Financials
R. Mew gave his monthly update.
- We have some potential grant funding coming our way through the city council. We have to actually submit the applications, and they are due by the end of February. So there's a potential for up to $400,000 in additional funding to be used for the school.
- The governor that the 2023 budget is estimated to be 4.7% increase, as opposed to what we were budgeting conservatively, 2.5%. If it goes down a little bit, we see that our metrics are still very good, still well above the DOE benchmarks or well below if that is the case and is warranted.
- Enrollment-658
- Our financials are really strong.
- Cash on hand-double the DOE
T. Bryan arrived at 4:09 PM.
C.
Quarterly Investment Update
D.
Budget Amendment
The budget amendment will be voted on during the January board meeting.
E.
Budget '23 Timeline Preview
M. Russell shared that:
- Salary changes are due in April but will have the vote in March.
- Board preview- Conversations on the surplus and the incoming funding and the use for it.
- Voting on accepting the budget amendment.
F.
Annual Investor Call Preview
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 5:05 PM.
Respectfully Submitted,
S. Pressley
We are asking for a budget amendment vote at the January board meeting. The budget amendment is to increase some of the things that are needed as far as COVID and a few other things.