Finance School Leader Meeting 2018.08.09 John LI

Transcript:Finance School Leader Meeting 2018.08.09 John LI:
Finance School Leader Meeting 2018.08.09 John LI Assistant Director of Finance Assistant Director of Finance for the Charter Institute at Erskine. Previously worked at East Point Academy charter school, where he served as the school’s Financial Coordinator. He also currently serves as the Board Treasurer for East Link Academy. In addition to developing, implementing and overseeing East Point’s annual budget and financial controls, Mr. Li also played an important role in developing the school’s Extended Care and Summer Programs. Mr. Li was awarded the Next Generation of Afterschool Leader Award by National Afterschool Association in 2016 Received the Unsung Hero Award in 2014Mr. Li’s work contributed to consistently clean annual audits of the school. Finance The Charter Institute at Erskine Finance Office functions as the finance and budgeting arm of the Institute. It is responsible for most of the financial aspects of the Institute, including, but not limited to, the following: Budgeting Audit Management Accounting Payroll Accounts Payable Accounts Receivable Purchasing and Procurement Inventory and Asset Management The Finance Office also provides important budget information to State and Federal agencies, the South Carolina Department of Education, the Board of Directors, District staff and administration and the CEO. Challenges Working with SCDE to determine initial allocations for our schools Obtaining access to Member Center, GAPS, other state finance systems Working and communicating with Harris School Solution to built the Institute’s SmartFusion Calculating funding based on Prior Year 135th day count or Projected Opening Enrollment Numbers for all schools Working with transfer schools to assist with Federal Grants Reimbursement issues with SCPCSD Develop strong fiscal policy and procedures for the Institute Progress Received July payment from SCDE and was able to push the funds out to our school in 5 business days Successfully working with Harris School Solution to custom create a new Smart Fusion platform for the Charter Institute Obtain access to major state finance platform including Member Center, GAPS, SCEIS, etc Analyzed the 2018-2019 Appropriations Act (H. 4950) Budget Base Student Cost – Provides additional funds to cover the growth of students and WPUs but also raises the BSC by $60 to $2,485. Pupils in Poverty Changes the qualifying definition to those students eligible for Medicaid, SNAP, TANF, or who are homeless, transient, or in foster care. Teacher Raises – Provides funding through EIA (100% state support) to provide a 1% teacher pay increase. Beginning Teacher Salary Increase Specifies the