Motion to adjourn
By: Jessica Weissinger Seconded by: Keith Pettiway
There was no notable discussion on the motion.
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Douglas McRae | not present member | ||
| Keith Pettiway | present secretary | On Time | At Adjournment |
| Jessica Weissinger | present member | On Time | At Adjournment |
November 2023 Highlights: Operations: We finished the month of October above budget expectations by 87K MTD and 159YTD. Accrual of Grant Income (Cares III totaling 21K and 103K MTD and YTD respectively) helped to offset expenses spent on salaries and staff development. Cares Act III grant was not included in the operating budget. We have also accumulated 23K in annual fund donations and 15K in rental income YTD.
Investments: As of November 2023, our market value on investments is 932K on 1,000,000 base. There was a gain of 35K for the month and 15K YTD.
Cash Position: As of July 2024, we are projecting a cash balance of 495K, net of cash reserves of 1.2 million. Cash reserves should represent approximately two months of operating expenses. It should be noted that as of November 30, 2023, we have an AR balance of 156K (103K in Cares Act III; 28K in Title 1, and 25K security Grant). We received a check for Cares of 64K on December 5th.
Notes: Mid-year QBE adjustment resulted in a net gain of 50K for funding from December 2023 through April 2024. The increase was mainly due to 9.2 million increase in fund balance from the initial allocation. Enrollment 348.
The meeting adjourned at approximately 7:35 am
Motion to adjourn
By: Jessica Weissinger Seconded by: Keith Pettiway
There was no notable discussion on the motion.