The Main Street Academy

Finance Committee

Regular Meeting - Tuesday January 18th, 2022 @6:00 PM

Meeting Minutes

Attendance Summary

Name Status Arrival Time Departure Time
Kimnese Abdul-Salaam present member On Time At Adjournment
Virginia Smith present member On Time At Adjournment
Bridgett Bell present member On Time At Adjournment
Mitch Foster II present chair On Time At Adjournment
Laura Calloway present member On Time At Adjournment
Brittany Dunn not present member
Tequila Douglas not present Non-voting Administration
Ishmael Abdul-Salaam present member On Time At Adjournment
Dr. Kimberly Walker-Browner present member On Time At Adjournment

Welcome and Call to Order

The meeting will be called to order.

Approval of Minutes

Approval of minutes from November 11, 2021 meeting.

By: Dr. Kimberly Walker-Browner Seconded by: Bridgett Bell

There was no notable discussion on the motion.

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.


Approval of Prior Meeting Agenda

Public Comment

Budget Updates

Personnel/Recruitment Updates

Fundraiser Updates

Facilities Updates

PTO Financial Report


  • Voting Items
  • Follow-Up Items
  • Future Business

Approve the agenda as submitted.

By: Bridgett Bell Seconded by: Dr. Kimberly Walker-Browner

There was no notable discussion on the motion.

Public Comment

Our Public Comment period is for members of the public to address the Finance Committee. Each member of the public may sign up to comment at the meeting, and will be allotted two (2) minutes. The board will listen, but may not directly respond to any comments. Our meetings are open to the public and public record. As such, if your comment is about a private matter, please contact the board via email, or speak to the board chair privately.

Budget Updates

  • Grants
  • We will use $50,528 from a grant towards a grounds project (tree removal) which is an approximately ~$100,000 project.
  • After School Program Rate Review
  • The 2021 Increase was never implemented. We will therefore revert to them if approved by the board.
  • Mid-Year Compensation


FY22 - Financial Updates presented by Candy Yu

Considering Investment options for $800,000 of our idle capital.


Mid year review is under way.

1099 issuance.


INCOME: We are under monthly income by $165K in because we have not received all the grant funds. We expect this to balance by the end of the FY.


EXPENSES: We are $542K over our expenses budget for this month, but this is a known payment to Triad for the basement building repair. Not unexpected, and will balance by end of FY.


YTD Expense Ratios are all well within our historical standard.


GA DOE Performance Framework - We meet or exceed all benchmarks. Additionally, we would meet the state standards if we were a state authorized charter.


PTO Financial Updates:


12 Picnic Tables obtained and painted from last fundraiser.

Future plans to provide food for staff in the coming months.


Checking: 2,222.35

Savings: 1,485.58

Authorize executive director to implement FY22 Proposed Rate Reduction for the afters chool program temporarily through the end of the currents school year.

By: Mitch Foster II Seconded by: Kimnese Abdul-Salaam

There was no notable discussion on the motion.

Authorize our executive director to pay part-time employees during emergency closings through the remainder of this school year.

By: Mitch Foster II Seconded by: Ishmael Abdul-Salaam

There was no notable discussion on the motion.

Personnel Recruitment Updates

One IEP offer currently extended. 2 other FT educator roles open.

Facility Improvements

Fire/Smoke Monitoring system will be updated as soon as parts arrive.

Roof Leak

HVAC

Basement Timeline - End of February Completion Planned

  • Board Walkthrough Option: January 25th @ Board Meeting


Future Business

  • Roof Repair/Replacement
  • Savings Options
  • FY23 Contract Renewals
  • RFP - HVAC Survey
  • Courtyard Improvements.


The Meeting was Adjourned

The meeting adjourned at approximately 7:03 pm

Motion to adjourn

By: Dr. Kimberly Walker-Browner Seconded by: Mitch Foster II

There was no notable discussion on the motion.