April 16th, 2019 Finance Minutes

April 19, 2019

Date:               Tuesday, April 16, 2019

Time:              12:00 PM       

Location:        City Hall Board Room
                        200 Ridley Ave. LaGrange, GA 30240

Present:          Gerald Wyatt, Regina Ingram, John Asbell, Renae Willis, Jamey Jackson, Dr. Kathy Carlisle, Ted Arnold

Other:             Regan Mock 

The meeting began at 12:35 PM.

  • Regina Ingram called a motion to approve February minutes.
    • John Asbell 1st, Ted Arnold 2nd.
  • Gerald Wyatt discussed P&L.
    • Motion was called to approve financials
      • Ted Arnold 1st, John Asbell 2nd
  • John Asbell announced that a new chair will be needed to head the fundraising. John will be stepping down.
  • Dr. Kathy Carlisle discussed that Dr. Chris William’s debit card had been compromised. Due to the compromise, the limits on Dr. Carlisle’s card limits have been temporarily raised to allow for standard purchases to be completed on one card until the new one arrives.
  • Dr. Carlisle discussed the maturity of THINC’s 3 CD accounts.
    • Balance of CD held at Community Bank & Trust has been withdrawn and is being held in Synovus checking account until placed in a new CD.
    • CD rates were discussed. Policy states that no CD can be in a term longer than 12 months, but some of the best rates available are above and below 12 months.
    • Request will be made to the Board to have the policy updated to state a CD can be in a term up to 24 months.
  • Gerald Wyatt and Jamey Jackson discussed the Chris Mabe Memorial Scholarship.
    • The scholarship will be in the amount of $1,300.00.
    • To be eligible the student must be a senior, exemplify leadership and be involved in athletics or extracurricular activities.
    • This year it will be given to a Lagrange High School student since LaGrange High School currently holds the funds for the FY2019 scholarship. However, John Asbell will

be presenting the scholarship to that student at Honor’s Night.

  • Dr. Kathy Carlisle announced that Dr. Roy Nichols approved for an Assistant Principal for CTAE at THINC. Ideally, this position will be filled for FY2020.

  • A new budget is to be created for FY2020.
    •  Troup County School System will be paying 40% of THINC CEO salary.
    • Staff recognition budget will decrease and student recognition budget will increase.
    • CEO salary budget will remain the same.

Adjourned at 1:20 PM.

Next meeting date: Tuesday, May 21st, 2019 at 12:00 PM in THINC Board Room, One College Circle, LaGrange, GA 30240.