Motion made to approve the December 2023 Finance Meeting Agenda.
By: Josh Stokes Seconded by: Yolanda Chisolm
There was no notable discussion on the motion.
JAMES ISLAND CHARTER HIGH SCHOOL
Finance Committee
Finance Meeting December 2023 - Tuesday December 5th, 2023 @2:00 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Yolanda Chisolm | present member | On Time | At Adjournment |
| Timothy Thorn | present member | On Time | At Adjournment |
| Archie Temoney | present member | On Time | At Adjournment |
| Carrie Holland | not present member | ||
| Josh Stokes | present member | On Time | At Adjournment |
Welcome and Call to Order
The meeting will be called to the order at 2:00 pm.
Approval of Agenda
So that there is agreement between board members on the agenda, and the amount of time spent on the meeting, the board shall vote to approve an agenda for the meeting. To the best of its ability, it will follow that agenda, and allow for the chair to move the board through the agenda as specified.
Motion made to amend the agenda to include a line item to discuss of the Edward Jones accounts.
By: Josh Stokes Seconded by: Archie Temoney
There was no notable discussion on the motion.
Approval of the November Finance Meeting Minutes
https://drive.google.com/file/d/1Mf_IYBTQs7A-nxx3qTBDJ7t7_b-yWJxi/view?usp=drive_link
Motion to approve the November Finance Meeting minutes.
By: Josh Stokes Seconded by: Yolanda Chisolm
There was no notable discussion on the motion.
Financial Statement
Presented by Andrew Cilone from Prestige. Big changes to the Cash Accounts are due to the teacher bonuses being paid out which has caused our daily burn to increase about $5,000 per day.
We still have about 68 days Cash on Hand in the Operating Account and 122 days Cash on Hand in the Edward Jones Account.
The only money left to be spent for the ESSER III account is for the Science classrooms and salaries for the Guidance Counselor and AP positions.
Since the Board of Directors meeting is later in the month of January it was decided to move the January Finance Meeting from January 9, 2024 to January 16, 2024.
FY 23 Audit Review
Audit came back as a clean audit. Need to possibly change the ROTC wording was the only standout. Report was good overall.
Hill Construction Budget and Contract Updates
This is informational since this has already been approved. The cost breakdown was in line with what they had before. There is a 10% contingency built in since there is no way to know what you could run into during the project.
Tuition Assistance Program Addition
Currently have a Tuition Assistance Program where you get paid back up to $1,500 for taking college courses. The question has come through to include National Board Certification in the tuition assistance program that costs about $1,800. This in not a college course, but is Professional Development. It renews every 5 years and costs the same amount each time.
Motion to approve covering that as part of the Tuition Assistance Program but that particular National Board Certification up $1,800 instead of the $1,500.
By: Josh Stokes Seconded by: Archie Temoney
There was no notable discussion on the motion.
Edward Jones Accounts
With Brad leaving Edward Jones. Michael Loiacono from Ameriprise will be taking over those investment accounts. This doesn't make changes to our investments or the plan that was set forth.
The Meeting was Adjourned
The meeting adjourned at approximately 2:59 pm.