Motion to adjourn
By: Douglas McRae Seconded by: Jessica Weissinger
There was no notable discussion on the motion.
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Douglas McRae | present member | On Time | At Adjournment |
| Tyler Skelton | not present chair | ||
| Jessica Weissinger | present member | On Time | At Adjournment |
| Keith Pettiway | present secretary | On Time | At Adjournment |
-CFO presented financial reports for May 2020 -CFO stated the PPP Loan was approved and received funds for 750K -CFO gave update on the PPP Loan Forgiveness process -CFO spoke about WACS preliminary budget shows 7 percent decrease -The 20-21 school year budget per APS expect overall 3 to 6 percent overall decrease in QBE Funding -results in bottom line deficit of 426K. (per projections WACS should be able to cover the deficit from operating fund without using reserves). -No capital activity for the month; 388 dollars have been collected YTD -Unrealized gain for the month of May 2020 totaled 10K MTD, 14K gain on original investment of 800K -As of July 2020, projecting a cash balance of 912K, net cash reserves of 900K. Cash reserves represent approximately two months of operating expenses
The meeting adjourned at approximately 12:52 pm
Motion to adjourn
By: Douglas McRae Seconded by: Jessica Weissinger
There was no notable discussion on the motion.