Finance and Fundraising July 16, 2018 Minutes

July 17, 2018

Date: Monday, July 16th, 2018
Time: 12:00pm
Location: THINC. Board Conference Room

One College Circle, LaGrange, Georgia 30240

Present: John Asbell, Frank McRae, Regina Ingram, Corinne Hodges, Jamey Jackson,

Byron Jones, Renae Willis, Bill Stump

Absent: Robby Burch, John Radcliff

Others: Kathy Carlisle, Amanda Anderson

Finance:
Meeting called to order Frank McRae at 12:18pm.
Acknowledgement of new members.
P&L – Frank McRae
P&L discussion with McRae. Carlisle wants to note the THINC truck order will show up
for next year. McRae continues with explanation of cash positioning.

  • FTE – (FY 2018-2019) –Byron Jones
    • Jones presents projecting allocation of 1.8 million dollars. Amount is derived from
      historical numbers, and all variables included within the budget. 85% of schedule request
      are figured in the budget right now. Last year FTE budget was 1.6 million. Carlisle
      inquiries on Perkins, stating it was not presented in data. SPLOST money used for
      furniture is an additional projected amount, Carlisle explains close to 150K. Jones directs
      attention to THINC Salary sheet. Including new positions and replacements, the estimate
      at this time will be 2.2 million dollars in THINC salaries. Per Jones, there has been a
      financial gap the last two years, and Jones anticipates a gap for this fiscal year as well.
      Discussion about other items such as transportation, lease, stipends and limited extended
      day for THINC teachers. Carlisle suggested that these numbers need to be evaluated for
      validity. For example, all teachers in TCSS do not work extended day – therefore, this
      should not be considered a TCSS expense. Other discussion about how THINC “saves”
      money for TCSS due to consolidation of programs. Jones states that he does not have
      these figures.
  • Approval of June 2018 Minutes
    • Corinne mentions correction needs to be made with “overlooked.” Needs to read “looked
      over.” McRae 1 st motion of approval, Corinne 2 nd motion
  • Audit Quote – Frank McRae
    • Quote from local CPA Wesley Long is presented. Asbell states audits are paid out of private money. Jones did asked for a revised quote from current auditor, Mauldlin, however, has not received a response. McRae suggested to reach out and re-submit a bid.
  • Fund Raising – Kathy Carlisle and John Asbell Update
    • Carlisle announces most recent donations from City of LaGrange, and the Industrial sponsors for SLAM and LIFT. McRae shares highlights on LaGrange Development Authority’s involvement, and Asbell does the same for West Point Development Authority.

Meeting adjourned: 1:23pm by Frank McRae
Next meeting date: August 14th, 2018 at 12pm in the THINC. Board Room, One College Circle,
LaGrange, GA 30240
____________________________________________________________________ Approval