Nuasin Next Generation Charter School
Minutes
Finance Committee Meeting
Date and Time
Thursday October 13, 2022 at 4:05 PM
Location
Join Zoom Meeting
https://metlcs.zoom.us/j/99333770398?pwd=MGgrcVE1L2RKSjdKT2syazVabjJRUT09
Meeting ID: 993 3377 0398
Passcode: 779998
Rigor:
We use the word “rigor” not in the stringent or inflexible sense, but in the sense of an unyielding need to challenge and push our scholars because we understand and believe in the potential, talent, and ability of our scholars and community. We challenge our scholars to build their confidence and help them realize what they can achieve.
Self-Advocacy:
Our scholars are empowered to advocate for themselves, their families, and their communities. As our scholars come to understand that their voices are valued and needed, they learn to advocate for themselves. Our scholars are seen and valued; they understand that not only do they have the right to express their opinions, views, and perspectives, but it is their obligation to do so.
Community:
Our scholars will embrace community and understand that as a member of a community you have certain
inalienable rights, the right to be seen, the right to be heard, the right to be protected and the right to be loved and
cherished. Our students will also learn of their obligations. As a member of a community you have the obligation to
respect, listen, support and only want and assume the best in all others. Every member of our community must understand that they are active participants in the Nuasin community and the community goes as we go.
Committee Members Present
K. Brisseau (remote), S. Pressley (remote), T. Bryan (remote)
Committee Members Absent
A. Bothner, E. Chen
Guests Present
F. Chughtai, J. Keeney (remote), K. Davidson, M. Alston, M. Russell (remote), S. Rasheed (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
General Updates
B.
September Financials
J. Keeney shared an update on financials. There has been a minor shift in holdings due to the increasing interest rates, but it is aligned with where we expect it to be. The metrics remain well above the required standards. We remain in a surplus for our balance sheet.
S. Rasheed shared that while we're above the threshold for scholar count, we're a little below our budget for SPED scholars. We are still determining our SPED population needs given enrollment is in flux, so this discrepancy will be settled in the next month. Besides this, everything is consistent at this time.
M. Russell shared that there has been a minor adjustment to the budget due to the retention bonus for employees this month.
C.
Audit Status
S. Pressley shared an update on the audit. The audit was satisfactory from the auditors perspective. There are no findings or recommendations coming out of this audit. M. Russell shared that there was some language around using summary financials from 2021 rather than the full financials, but this is standard language and it is a standard process to include this language.
D.
Quarterly Investment Report Update
J. Keeney shared an update on the investment report from June to September. There has been some fluctuation due to the current market. The increase in the market interest rate impacts the treasury's value, but this is a short-term effect due to this market.
S. Pressley shared that we have finalized our fundraising / donation platform and are working to get that up and running at this time.