September 2024 Minutes

Jul 3

Date of Meeting: September 26, 2024

Directors Present: Chairperson Jon Wilhite, Secretary Andrew Norris, Head of School Debbie Byely, Mr. Mike Tooley, Mrs. Monica Johnson, Dr. Blair Dowden, Dr. Russ Baker, Mrs. Keli Reese, Mrs. Julia Harcourt, Mrs. Anne Witter

Directors Absent: Treasurer Bob Baird, Mr. Edgar Momoh

Others in Attendance: N/A

Call to Order: 6:10 pm

Opening Prayer: Chairman Wilhite

Strategic Planning Update: Head of School Byely

Head of School Byely provided an update on the strategic planning process that has been underway for the past year.

Finance Report: Treasurer Baird (via phone)

Expenses continued to be well-controlled.
Revenue has grown with enrollment.
Cash position is the strongest it has been in months.
$750,000 Line of Credit has been paid off.
$500,000 bridge loan will be paid off by December 2024.
Pending HVAC unit replacement expense continues to be a concern, but that expense would not be catastrophic for the school.
An official budget policy is being developed by the Finance Committee.

Review of August Meeting Minutes: Chairman Wilhite

Action: Motion by Director Tooley to approve; Second by Director Dowden; Voice Vote, Motion Carried via Voice Vote

Head of School Report: Head of School Byely

Head of School Byely provided an update on the School including current successes and challenges.
The ACSI Annual Conference team meeting was held the week of September 16 and went very well.
Weather Emergency policy has been developed.

Closing Prayer: Director Dowden

Executive Session