Nuasin Next Generation Charter School
Minutes
Finance Committee Meeting
Date and Time
Thursday April 20, 2023 at 4:05 PM
Location
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Meeting ID: 995 8608 3542 Passcode: 231812
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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
E. Chen (remote), K. Brisseau (remote), S. Pressley (remote), T. Bryan (remote)
Committee Members Absent
A. Bothner
Guests Present
G. Borja (remote), J. Keeney, M. Alston (remote), M. Russell (remote), S. Rasheed
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
General Updates
B.
March Financials
SR reviews updates: total assets are $10.1 million, total assets $13.2, DTA is $3.1, and cash on hand is $9.1 million the decrease is due to waiting for per pupil funding. Forecasting to end the year at a $126K surplus. The metrics look good. $8.8 million for per-pupil funding. Total revenue of $12.8 million. $8 million spent on salaries so far. Expenses increased by $32K. Total expenses $12 million. Total equity is $11.3 million.
C.
Quarterly Investment
SR reports $5.2 million in investment accounts. The team met with the Chase investment counselor, maturity in the account was not reinvested, three accounts will come to maturity this year as well.
SP reports that the maturity investments will be reinvested into high-yield investments.
Met with the auditor last week and they will prepare for an audit this year. SR, JK, and MA will work on ensuring documents are ready for the September audit.
D.
FPP Review
SP reports no significant change to the document this year, and will reach out to MK and AB to discuss cadence on when to discuss the changes to this document.
III. Closing Items
A.
Adjourn Meeting
SP reminds everyone that the budget will be voted on next week for 23-24 and a 5-year plan will be included. Would like to meet with MA, JK, and SR to review and discuss any questions.
SP remorts no updates and directs SR to discuss March financials.