May 24, 2016 Board Meeting Minutes

May 24, 2016

Date:                                       Tuesday, May 24, 2016

Time:                                      12:00 p.m.

Location:                               THINC. Board Conference Room

One College Circle, LaGrange, GA 30240

 

Present:                                  Renae Willis (presiding), Robby Burch, Linda McMullen, Darryl Harrison,

John Asbell, Mardi Schaufler, Diane Cousins, Toni Striblin, Mike Young,

John Radcliffe, Perrin Alford, Corinne Hodges

 

Absent:                                  Lucinda Person, Shawn Newingham, Greg Hicks

 

Others Present:                  CEO – Kathy Carlisle

Staff- Lauren Carlisle

Kathy Tilley

Students- Sara Ann Bryant, Keenan Glenn, Braelyn Dozier

Attorney- Mitch Key

 

Chair Renae Willis called the meeting to order at 12:06pm.

John Asbell gave the Invocation.

Robby Burch made a motion to approve the March 22 and May 5 board meeting minutes. John Radcliffe seconded the motion, and the motion passed unanimously.

Finance (Kathy & Robby)-

  • P&L Update: Kathy reviewed the P&L statement with the board. We should come in under budget once everything is paid for this year. We currently have $609,207.00 in uncommitted funds in a reserve account. We are showing over budget for business meals/entertainment because when the budget was put together we did not consider the board meeting lunches, training meeting lunches, and potential donor lunches we have had. We are going to request to raise this amount for next year. We will go over on the audit budget due to charges from Abbott(getting all of the audit paperwork together), the Auditor, and the 990 expense. Our cash on hand does include the reserve and science lab amounts.
  • Science Lab Update: John Radcliff (amended to add to the agenda for today) stated that the bid for the science lab came back higher than we anticipated. There are 3 key components: 1. Estimated bid amount 2. Classroom Renovation 3. Furniture/Equipment. There are 2 big costs: 1. Trenching of the water and gas lines 2. Fire wall. These costs were much higher than we anticipated in the original budget for the science lab therefore we are over budget. We will move forward with the science lab construction so the lab can be open on August 10, 2016. Also, the shorter the time line then the higher the cost will go up. Corinne stated that we can move forward with the overage because we have done the due diligence needed. Robby recommended that they are some things that need to move forward with the science lab however that doesn’t mean that we are committed to spending all of the money. But we are committed to spending some of it in the progress of moving forward so we don’t end up spending more due to a delay.
  • Projected 2016-2017 Budget (First Read): Dr. Carlisle presented a draft of the private operations budget to the board. In the past, we have taken the $600,000.00 from KIA as operations only and then all other donations were put in to a facilities budget (science lab). This budget is built from the $600,000.00 KIA donation only. No concerns were presented by board members. This was a first read to the board however they will vote on this budget at the June board meeting.

 

Randy Jackson Scholarship Fund (Renae& Corinne):

  • The family would like to set up a J. Randy Jackson Scholarship Fund for any THINC. graduates who would like to further their education. John Asbell made a motion to open a new account for the scholarship fund
  • Robby Burch seconded the motion, and the motion passed unanimously.

 Student Presentations:

  • THINC. students, Keenan Glenn and Braelyn Dozier, are a part of West GA Star. West GA Star is a non-profit company that offers residential services to the residents of LaGrange Housing Authority as well as the surrounding community that promotes self-sufficiency.

Renae Willis announced the new Personnel Committee chair will be Shawn Newingham.

CEO Report (Dr. Kathy Carlisle):

  • We have several grants in progress: Caterpillar, Makerspace(equipment), GOSA(equipment), and VOYA(equipment). There are some possible WBL opportunities and internships available with AFLAC.
  • Dr. Carlisle went over the contributions for March, April and May with the board.
  • She also reminded the board of some upcoming dates: 6/1 Bill Daggett Mtg, 6/9 Jay Steele-Strategic Planning Summary, 6/14 Joint Board Training w/ TCSS, 6/21 THINC. Board Meeting

 

Robby made a motion to adjourn the board meeting. Linda seconded the motion and the motion passed unanimously.

The board went into executive session.

 Next meeting date: Tuesday, June 21, 2016 at 12pm at THINC. College and Career Academy. One College Circle, LaGrange, GA 30240

______________________________________________                 Approval