Vertus High School
Minutes
Finance Meeting
Date and Time
Tuesday June 10, 2025 at 2:00 PM
Vertus Charter School prepares leaders of character.
Committee Members Present
D. Johnson (remote), E. Gallina (remote), J. O'Connell (remote)
Committee Members Absent
None
Guests Present
A. Bell (remote), A. Brisson (remote), J. Locey (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
Monthly Reports Review
B.
Investment Methodology
The committee met with Joe Kuzmkowski from KeyBank to discuss the proposed asset allocation for the endowment. The committee decided to propose a 50/50 equity-to-bond allocation to the Board at the next board meeting.
C.
Draft 25-26 Budget Updates
The committee discussed the changes made to the new budget, including changes to medical insurance costs and salaries. The committee decided to propose the draft budget to the Board at the next board meeting.
D.
Building Updates
The committee discussed conversations taking place with the building landlord and potential expansion into other parts of the building.
The committee reviewed the monthly reports. There were no material changes to the budget. Computer purchases made aligned with the budget projection.