May 16th, 2016 Finance and Fundraising Committee Minutes

May 16, 2016

Date: Monday, May 16, 2016

Time: 12:00 p.m.

Location: THINC. Board Conference Room

One College Circle, LaGrange, Georgia 30240

Present: Robby Burch, Kathy Carlisle, CJ Tumambing, John Asbell, Renae Willis, Corinne Hodges, Kathy Carlisle

Absent: Byron Jones, Holt Redding, Kathy Tilley

Others Present: KIA Visitor- Trey Wood
Staff/Consultants – Lauren Carlisle

Corinne called the meeting to order at 12:35 pm.

John Asbell made a motion to approve the April meeting minutes. Robby Burch seconded the motion and
the motion passed unanimously.

Finance (Corinne Hodges)-

  • P&L update: Corinne went over the P&L and everything looks good. There were many unplanned contributions on the facility side. The operations budget looks good and is being managed well on daily basis. (Kathy Carlisle) Typically we have put all donations into the facility budget under the Science Lab however we have had some donations come in as restricted funds. Therefore, we had to create restricted accounts for those donations. We decided to disperse the donations listed under the facility budget into different accounts so we could track each account.
  • FTE Budget: (Discussion regarding the 2015-2016 FTE budget) It appears that the salaries and expenses have been covered, however; the remaining balance has not been determined. Dr. Carlisle advised that a request was made of Byron to consider using the school system allocated from CTAE or regular funds for substitute teachers. THINC was billed back and charged for these expenses, which is not customary for substitute teachers. Corinne reported that we do not have a 2016-2017 FTE budget. During a meeting with Byron, it was determined that Byron is working from a projected budget which does not include the projected increase in students. As of this date, we still do not have finite student enrollment numbers for on-campus, WBL and MOWR students. A lengthy conversation continued with discussion about the struggle to hire instructors and plan for next year without a firm enrollment number. John Radcliffe stated that the school system plans to pay the FTE for students, but cannot give “cart blanche” funding. Mr. Radcliffe stated that it is customary for the school system to project enrollment and make hiring decisions based on the projection. It is the practice to move teachers around to meet demands once school starts. Later in the conversation, Dr. Carlisle stated that the common practice in college and career academy is to treat the budget the same as other high schools, not to focus on a firm FTE amount. The superintendent has already signed contracts for the teachers, therefore; personnel decisions have been made. Other conversation centered around the use of private funds to pay teacher salaries. Dr. Carlisle stated that the Board would make that determination. Corinne advised that we need to make decisions to move forward this year. Next year, we should be in a better position to make decisions early with firm numbers. John Radcliffe advised that he would alert Dr. Pugh regarding the possibility of the THINC budget going over the projection due to teacher salaries.
  • Agreed to present the private budget for a first read with a vote at the June meeting. No discussion regarding the private 2016-2017 budget.

Fund Raising (Corinne and Dr. Kathy Carlisle)-

  • The committee discussed ways to grow the facility, operation goals, and ideas for achieving these. There were suggestions such as: use the Sustainability group to raise money, THINC. board members (in teams) would strive to raise $40,000 each, and give a roll to each member in the following groups: Sustainability Group, THINC. Board, Advisory Committee’s.

The meeting adjourned at 1:30 pm.

Next meeting date: Monday, June 20, 2016 at 12pm in the THINC. Board Room, One College Circle,
LaGrange, GA 30240.
______________________________________________ Approval