Welcome and Call to Order

The meeting will be called to the order at 6:05PM by Mitch Foster.

Executive Director's Report

Employee Benefits (Presented by Lee Arledge)

-USI Insurance Services - Insurance Brokers (Lee Arledge)

-Been working with TMSA for many years.

-HR worked with USI to negotiate benefits for 2023-2024.

-Offered open enrollment meetings to go over benefits.

-Roughly a $65,000 increase for employer contributions for the next fiscal school year. This number could change based on staffing.

-Insurance rates increased across the industry. The number of claims also is a factor when negotiating.

PTO Financial Report

-$5,276 ending cash balance.

-There were expenses for teacher appreciation week and GA Registration Fees.

-Will check with legal to see if we have concerns with giving gift cards to teachers as gifts. What is the maximum amount?

Funding Updates

-We will have a few mid-term funding adjustments.

-$724,639 state & local QBE funding adjustments

-E-Rate Reimbursement = $12,480 Comcast Internet Reimbursement and $4,087 data path network equipment and monitoring. Both of these are given to eligible schools to make high-speed internet affordable.

Fundraising

-Annual Innovation Fund = $25,802

-Other Donations = $4,906

-Fundraisers = $1,048

-Art Show = $1,048 (will go back to the art and music department)

-Always accepting donations

Fundraising Policy

-Will be asking for the new Fundraising Policy to be approved at the next governing board meeting.

-There currently isn't a fundraising policy in place.

-Draft attached.

Student Enrollment

-826 as of 5/19/2023

-Preliminary 2023-24 student enrollment will be reported at the June finance meeting.

Transportation 2023-24

-Fulton County has shared that they will no longer supply buses to charter schools for field trips, athletics, and general transportation for the 2023-24. This is a result of ongoing bus driver shortages throughout the county.

-Would like to revisit purchasing a bus or possibly teaming up with surrounding Charters.

-For reference we typically paid $800 per trip for Fulton County buses vs charter companies that charge between $2,500-$4,000 per trip

HR and Staffing

-2023-2024 still pending.

-Will report to the full board the number of teacher contracts that were offered, how many accepted, and how many vacancies we have.

-Still continuing to recruit certified and qualified teachers.

-We hired a new day time janitorial supervisor. The staff has been very pleased with the work being done by the day staff.

Facilities, Operations, and Maintenance Updates

-Beginning to plan for next year.

-Summer projects and priorities are being reviewed.

-Rooftop HVAC units are still awaiting shipment. The new ETA and installment timeframe is mid-June.

-Stadium renovation is 90% complete. The TMSA community was able to enjoy the renovations for Field Day activities.

Attachments

• Fundraising Policy TMSA.docx

CFO Financial Report

John Stiffler in attendance to present the March 2023 and April 2023 Financial Report.

• Onboarding and cleanup is finally complete and the transition from the old accounting firm to the new firm is done.

March 2023 Preliminary Financial Report

• In March, work continued for the transition to Belay.
• Saw cash on hand grow.
• Based on prior 12 months of expenses, we have 32 days of cash on hand.
• Moved on to the April report since it includes more recent data.

April 2023

• Will have a mid-term adjustment from Fulton County that will be deposited between May and the end of June.
• Had a monthly budget surplus of $18K, our actual is $92K
• We have a YTD deficit while we are awaiting State and Federal reimbursements and the unanticipated HVAC vandalism expenses.
• Cash on hand represents 36 days of cash on hand.
• Basement renovations are paid off and will help our 12-month cash on hand to trend higher.
• All State Charter Schools Commission (SCSC) Performance Framework ratios are within the acceptable range.

Approval of Minutes from Finance Committee (9/2022)

The Finance Committee met on Tuesday September 20th, 2022 @6:00 PM for what was scheduled to be a 0 hours and 50 minutes long meeting. Present: Mitch Foster II, Dr. Chad Owes, Kimnese Abdul-Salaam, Ishmael Abdul-Salaam Not Present: Brittany Dunn, Kim Walker, Virginia Smith, Shameka Smith The members considered the following items: 1. Approval of Agenda 2. Report from Finance Committee 3. Financial Review The committee considered 3 motions, of which 3 passed, and 0 failed: 1. Approve as submitted. (passed) 2. Motion to accept minutes as presented. (passed) 3. Approve the proposed FY23 Title I Allocations as presented. (passed) The meeting adjourned at 6:39PM

Approval of Minutes from Finance Committee (3/21/2023)

The Finance Committee met on Tuesday March 21st, 2023 @6:00 PM for what was scheduled to be a 1 hours and 1 minutes long meeting. Present: Mitch Foster II, Kimnese Abdul-Salaam, Ishmael Abdul-Salaam, Shameka Smith, Dr. Chad Owes Not Present: Nkiruka Onyia The members considered the following items: 1. Welcome and Call to Order 2. Approval of Agenda 3. Financial Review 4. Executive Director's Report 5. Acceptance of Minutes 6. New Business The committee considered 4 motions, of which 3 passed, and 0 failed: 1. Approve the agenda as submitted (passed) 2. Accept the February 2023 Financial reports as provided by the ED & CFO. (proposed) 3. Approve minutes as submitted for February 21,2023 Finance Committee Meeting. (passed) 4. Approve minutes as submitted for January 24,2023 Finance Committee Meeting. (passed) The meeting adjourned at 7:03PM

New Business

Board On Track Approval

• - Shameka and Mitch met with representatives at BoardOnTrack - a online governance management software built for charter school boards.
• - It will provide a more robust platform for our meetings and minutes as well as archiving previous meeting info.
• - The cost is more than our current platform; however, we will also have access to training from BoardOnTrack for no additional cost. They are certified trainers so board members can count those as training hours.
• - Dr Owes will sign the contract and return.
• - Will request invoicing for the next fiscal year.

The Meeting was Adjourned

The meeting adjourned at approximately 7:12 pm by Mitch Foster.