Welcome and Call to Order

The meeting was called to order by Mr. Thorn at 2:00 pm.

Approval of the February Minutes

February Minutes

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.

Financial Statement

Prestige Report presented by Andrew Cilone

February 2025 Financial Report

Days Cash on Hand is about a two day difference. It was at 156 last month and it's at one 154 this month.

The biggest change is the operating net income. There was the additional amount $400,000 in the funding coming in as well as the increase in other items like the standard funding that we receive from the state. Operating net income is starting to climb. This offsets some of the total net income when you factor in construction spending is still just under $2,000,000 negative, but the operating net income is climbing and cash is holding steady. Overall the major spending on construction is complete so we should continue the numbers increase throughout the rest of the year.

Above 66 days COH in the Operating account.

88 days COH in the Ameriprise account.

Balance Sheet

Retainage stays the same. Were waiting on the final bill to reduce retainage to zero. Mr. Thorn will reach out to Hill Constructions to verify that there is still that much Retainage left.

Revenue

135 Day Count is coming up. Will twick the budget when that happens.

The first part of State Aide to Classroom was received. That was about $400,000. Second half should come around June.

IDEA Revenue was received in early March. At that point we will have received the majority of the federal funding.

Overall total revenue are at 35%. We expect that at 32% at this point.

FY26 For Review

Informational

Mr. Thorn reviewed upcoming FY 26 budget.

Science Classroom Additions

Informational. Upcoming meeting with Hill Construciton, Atlantic South, possibly including Clancy + Wells, Mr. Schumacher and Mrs. Woodall on Monday, March 17.

Hill Construction went through and did a repricing of the project which they will present at this meeting.

PAC Lighting

Updated Quotes.

High Output's quote is $66,000 but this does not include the labor cost of moving the low voltage conduit path to get the DMX runs to the octo-splitter. Which is very expensive.

Lowcountry already has that labor cost factored into their $101,700 quote.

Lowcountry is the prefered quote due to ease of use of the lighting consule, the hard wire being more reliable, and better power management.

Discussion around tabling this motion one more time until we receive two complete bids.

Athletic Drive Quote for approval

Marty got a quote to clear the brush away 20 feet in toward the fence so there would be space for cars to park along Athletic Drive. There are some trees, which will remain, but any of the light brush that's not part of forestation for our campus will be removed. That quote came in at $6,000 which is lower than the Board threshold so this is in the works.

Marty reached out to three different contractors on removing the current curb and adding a rolled curb. They are pretty much comparable.

Two of the quotes include all the way through Athletic Drive to the motorized gate. The other one is through Athletic Drive. If you break it down this quote is much more expensive because the linear foot quote is much higher.

To help with faculty parking we could add an additional 72 feet that would include from the tennis courts to the stop sign past the motorized gate in front of the old gyn of rolled curb at the cost of $114,000. Total linear feet is around 2300 feet.

This would also help with our student parking.

Marty to work with Jeremy Holland to see when the best time to complete this work would be.

The Meeting was Adjourned

The meeting adjourned at approximately 2:48 PM.