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 |
March 2024 Highlights: Operations: We finished the month of March 2024 above budget expectations by 153K MTD and 503K YTD respectively. Accrual of 78K reimbursement of Facility Grant and 63K in Cares Act III reimbursement in the month of March. YTD we have filed 335K in Cares Act III reimbursements which was not included in Operating Budget along with a gain in investments on 41K; Rental Fees of 24K; annual fund contributions of 25K and interest on cash accounts of 20K, (mainly on the money market account0.
Title 1 Expenses eligible for the month 17K; Total YTD 74K. Reimbursements are filed on a quarterly basis. Total allocation for the year is 108K.
Investments: As of March 2024, our market value on investments is 971K on 1,000,000 base. Gain of 11K for the month; 41K YTD
Cash Position: As of July 2024, we are projecting a cash balance of 385K, net of cash reserves of 1 million. Cash reserves should represent approximately two months of operating expenses. It should be noted that as of March 31, 2024, we have AR of 442K outstanding. Deposited checks totaling 64K in the month of March. 147K have been submitted to Accounts Payable by APS. Submitted another 171K this month for reimbursement.
Enrollment Discussion: We experienced a drop in enrollment from our fall count to our May count, (347 down to 335). It could decrease our final payment in May by as much as 148K.
Discussion about HVAC vendors for condenser coil repairs.
The meeting adjourned at approximately 8:05 am
Motion to adjourn
By: Jessica Weissinger Seconded by: Keith Pettiway
There was no notable discussion on the motion.