PENCADER BUSINESS AND FINANCE CHARTER HIGH SCHOOL CITIZENS BUDGET OVERSIGHT COMMITTEE MEETING MINUTES – Draft to Be Approved January 23, 2013
Better late than never might not apply in this case however, the new Citizen Budget Committee is getting their feet on the ground.
There was a short discussion, slightly emotional, about the urgency of posting the minutes for this committee on the website. The committee has faithfully met monthly and the minutes being posted on the website is critical documentation cited as an issue by DE DOE. Jenny and Laura will work with Alan to produce minutes from past meetings that were not documented.
Yes we need uniformity and timely information.
In total, actual revenues less expenses versus budget is tracking at 56% for the year. It is important to note that some one-time expenses paid early in the year negatively impact this tracking. Examples include expenditures for new carpeting, textbooks, repayment of the loan and legal fees. Overall, 56% is slightly higher than desired.
Well here is the big question of the day, how can the CBOC provide actuate tracking of the budget when the board hasn’t approved an FY2013 budget? If they did where is it? I see noting in this CBOC meeting minutes or previous meeting minutes questioning why there isn’t an approved fy2013 budget! Also, I don’t see any reference to the required yearly audit!
Revenues: Incoming funds from State Funding (05213) is experiencing systemic problems which has been confirmed by DOE. Bill and Steve will be meeting with them on Jan. 31 st and will discuss. This is related to the normal three-month delay in activating health insurance for new staff members. Also, another revenue issue is related to the funds being withheld for 17 student walkers within the 2 mile radius who are considered not qualified for bus transportation; this issue was discussed briefly during our prior meeting.
Maybe we should call for a review of DE DOE! WTF, students walking two miles each way to school? The state / county must be spending a fortune in crossing guards! Those roads near Pencader are dangerous! Stop OMG, you mean to tell me you have young ladies walking in the dark? Damn almost forgot, Markell cut school transportation $$ to the school districts and charters!
Expenditures: Reviewed and discussed key items. Most disturbing is the actual Legal Fees paid for services, which is almost double last year’s EOY amount. Steve will approach them for some consideration, perhaps pro-bono work. Other line items were slightly miscoded but provide little impact overall because the expenditures were included in the budget. Advanced Student did not submit their bill for December. The best news is that the $160K loan has been repaid in full.
Pencader should ask for a refund on some of those legal fees because obvious the legal eagles put a communication blackout when in fact Pencader Franls should have started communicating from day one! Come on Steve, PRO-BONO :) I know what kind of Bono lawyers like to give! Just never bend-over to tie your shoes with one in the room. Wait doesn’t the Delaware Charter Schools Network have lawyers on board that could come to the aid of Pencader! Everybody is a non-profit claiming they are volunteers serving the community! Yet they want to get paid for helping a charter schools survive! Good job on getting that loan repaid!
As reported previously, the Rent Expense for the buildings was reduced by $27K per month from $90K. The deferral of May and June, 2013 payments by our generous landlord has not been documented
Deferring two moths rent is like an interest free loan and still is obligated but hey why not! Why wasn’t this documented?
What no questions on the status of the IRS 990 forms that were filed in December? What about the IRS fines for previous years where forms weren’t filed? Wasn’t it like a fine of $70.00 a day?
However, I am very pleased to see minutes up to date and don’t feel too bad because there are other charter schools non compliant.
Mr. Osnicky and Mr. Santiago were welcomed as new parent members of the CBOC; Mr. Hector Hernandez will also be joining this committee as a parent representative.