Adelante Schools
Minutes
Finance Committee Meeting
Date and Time
Friday January 23, 2026 at 8:30 AM
Location
Emma Donnan Elementary & Middle School: 1202 E. Troy Ave., Indianapolis, IN 46203 - Bean Creek Meeting Room
Goals:
- Approve organizational foundational tools and policies to govern our school and operate effectively.
- Deepen our understanding of Adelante’s Emma Donnan operational state and provide any necessary support and guidance.
Committee Members Present
M. Meer (remote), R. Scott (remote)
Committee Members Absent
None
Guests Present
B. Chandler, J. Habayeb
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
M. Meer called a meeting of the Finance Committee of Adelante Schools to order on Friday Jan 23, 2026 at 8:35 AM.
C.
Review Goals
II. Compensation Study
A.
Compensation Study Findings
III. Strategic Plan Support
A.
Excess Cash & Lilly Grant
Lilly Funding - Our construction contracts are under review with our legal team right now. IPS will be added as signers on our contract.
The grant team at Lilly was able to answer questions about the budget and reporting. They made it clear that they want to be kept up to date on any changes and the reasoning behind them.
Lilly funding is being held in high-yield BMO accounts. Already earning interest.
IV. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:32 AM.
Respectfully Submitted,
B. Chandler
J Habayeb:
National study - 272 charter organizations, 44 in the Midwest, also compared to mid-size schools.
Healthcare: We are above or at the study average in every category, including the percentage covered.
Retirement: We could increase our matching percentages to be more competitive with similar schools. We could also consider changing our vesting policy to increase incrementally over the years of service rather than vesting at 100% almost immediately. Board members expressed a preference for a 4-year vestment sequence.
Pay Scale: IPS has added a 1.5% and 2.5% increase to base pay for the next two years, respectively. We usually keep pace with them. We also have base pay increases for effective ratings and years of experience.