MINUTES

BOARD OF DIRECTORS

SOUTH CAROLINA WHITMORE WCHOOL

510 Lexington Ave

Chapin, SC 29036

December 17, 2013

 

The meeting was called to order by Chairman Morrison at 9:30 am.

 

ATTENDANCE:

Richard Morrison, Christopher McClure, William Robinson (by phone), Pamela Phillips, Ann Brown (by phone), and guest Dr. Terri Hitch.  Also present Ellen Ray, Principal.

 

APPROVAL OF MINUTES:

 

The minutes of the meeting of September 18, 2013 were approved as submitted.

 

FY 13 BUDGET UPDATE AND REVIEW:

 

Mr. William Moser presented budget data for the current fiscal year.  He provided an updated student count of 246 which was down from 345.  He has projected a budget deficit of $60,928 which was expected and will be covered by our surplus cash balance from last year.  It was discussed and agreed that with a budget of approximately 1.4m we should consider a 60k variance the equivalent of a balanced budget.  These were accepted by the Board as presented.  A motion was made by William Robinson to adopt the budget and seconded by Pam Phillips.

 

AUDIT UPDATE:

 

Michelle Jones, from the accounting firm Elliott Davis Inc., brought to our attention from our previous audit that we need to ensure our funds are FDIC insured to continue to receive government funding.  Lee Winters from our local Wells Fargo Advisors office presented a solution to spread our surplus over multiple brokered short term CDs.  Pam made a motion that we establish an Investment Committee and William seconded the motion.  William was nominated to head the Investment Committee and accepted.  William motioned to accept the brokered CD strategy for our surplus funds and Pam seconded the motion.

 

BOARD EMAIL ADDRESSES:

 

Ellen Ray proposed that board members have a SC Whitmore School email address rather than using our personal or other business linked email addresses.  We accepted her recommendation.

 

TESTING UPDATE:

 

John Loveday briefed the board on the winter “End of Course” testing, HSAP testing, and Smarter-Balance Practice Test.

 

AT-RISK STUDENT COMPETITIVE GRANT:

 

Michelle Bishop presented this $292,500 grant that is spread over 3 years and designed to target students who have displayed attendance challenges.  The goal is to provide resources to help them get on track and follow them through to graduation.  The grant can pay for, but is not limited to, extra staff, screening programs, one on one sessions, and higher contact frequency.

 

ENROLLMENT UPDATE:

 

Ellen Ray reported 265 students.

 

BYLAWS AMENDMENT:

 

Richard Morrison presented.

Ann motioned to accept and William seconded the motion.

 

PUBLIC COMMENTS:

 

None

 

OTHER BUSINESS:

 

The board was notified that background checks were needed for all board members per SC state law.  We accepted and provided the necessary information for those checks to be completed.

 

ADJOURNMENT: