Patrick James Morrisey

The committee reviewed the Budget vs Actual Financial Spending Reports, which covered school construction, disaster, and operating funds for the fiscal year. Additionally, the committee received the Grant Awards Report, noting that five grant awards were closed and a specific amount remained unspent. The committee also reviewed the Cash and Investments Report and received final financial audit statements, which indicated that all financial data was presented fairly.

The School Building Authority reviewed the Year to Date Budget to Actual Spending for FY2026, covering the period from July 1, 2025, to November 30, 2025. Key areas of focus included the General Revenue Fund, Flood Disaster funds for Kanawha and Nicholas Counties, the School Construction Fund, the School Building Authority Fund, the Lottery Transfer Fund, the Excess Lottery Transfer Fund, and the School Major Improvement Fund. Discussions encompassed fund transfers, debt service, federal subrecipient disbursements, grants, and various operational expenses such as personal services, office repairs, communication equipment, building maintenance, and professional services.

The meeting included an authority member update, welcoming new members and recommending a temporary Vice-Chair. Updates were provided on active projects funded by the SBA. The SBA's Profit and Loss Statements for FY2025 and FY2026 were presented, along with the Grant Awards Report for all SBA Active Grants and a review of P-Card usage. An amendment to the Roane County Board of Education CEFP was approved, and the Lincoln County Board of Education's request for an extension of the Duval PK-8 School project grant was also approved. The proposal to permit reimbursement funding for elementary school gyms was discussed.

The meeting included the presentation of the SBA Budget vs Actual Financial Spending Reports for FY25 to date, covering School Construction funds, disaster funds, and operating funds. Also presented was the SBA's Cash & Investments Report, which reflected Agency investments and cash holdings. Additionally, the SBA Grant Awards Report was presented, noting three grant awards closed since the September meeting, with approximately $78,000 of the total award remaining unspent.

The quarterly finance meeting included presentations and discussions on the SBA Budget versus Actual Financial Spending Reports for FY24 and FY25 to date, covering school construction funds, disaster funds, and operating funds. The SBA Grant Awards Report was presented, noting four grant awards closed since the September meeting. The SBA's Cash & Investments Report was reviewed, reflecting agency investments and cash holdings. The final audit presented no findings.