Nuasin Next Generation Charter School
Minutes
Finance Committee Meeting
Date and Time
Thursday September 21, 2023 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
E. Chen (remote), K. Brisseau (remote), S. Pressley (remote)
Committee Members Absent
A. Bothner, T. Bryan
Guests Present
G. Borja, J. Keeney (remote), M. Alston, M. Russell (remote), S. Rasheed (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes 5/18/2023
D.
Approve Minutes 5/23/2023
E.
Approve Minutes 5/25/2023
F.
Approve Minutes 6/7/2023
G.
Approve Minutes 6/15/2023
H.
Approve Minutes 7/20/2023
I.
Approve Minutes 8/17/2023
II. Finance
A.
General Updates
B.
July and August Financials
SR reports 10.2 in cash, budgeted for 662 students, we have 676 students. Revenue 2.9 million, staff expenses 1.7 million, operational expenses 900K. YTD surplus 264K
We are budgeting the deficit this year.
We have two less students in SPED this year than budgeted for.
Forecasting revenue will ne 17 million. we will end the year with 340K
1.3 million in cash. Accounts payable was low at the end of august, because of timing period.
SR explains it is a healthy balance sheet.
Our balance sheet shows accumulated depreciation. MR asks if we have done an analysis of building worth and what we could sell it for. JK suggests having an appraiser do that type of work. JK estimates building to be 700 or 800K. JK states lease goes until 52 years. MR states he is thinking out loud regarding to the equity that has been built up in the building. JK responds there is some that has built off of what we have paid. SP asks board members if there are any questions, and there are none.
SP asks JK about the one pager for financial literacy, specifically bond deals. JK said he is ready to present something and SP asks MR for time in the board meeting to review. MR agrees we have some time to present this for all board members.
SP asks SR if auditors have received all of the documents they requested, SR reports they have received everything, nothing more has been requested and the auditors will join us for the October Finance committee meeting.