Environmental Charter Schools
Minutes
Finance Committee Meeting
Date and Time
Friday April 26, 2024 at 8:30 AM
Location
Zoom: https://us02web.zoom.us/j/86746735522?pwd=eG5RVHI4ZURqeXBwVm1YS2E0WTk5Zz09
Alternative access:
- Two-way Teleconference Location: 2625 Manhattan Beach Blvd, Suite 100, Redondo Beach, CA 90278
- Call-in only: (669) 900-6833 (Meeting ID: 867 4673 5522, Passcode: 425920)
Finance Committee Members
Tracy Bondi - Chair
Farnaz Golshani-Flechner
Denise Berger
Bruce Greenspon
Mason Williams
Andrew Ellenbogen
Finance Committee Charter
- Provides financial oversight for the organization
- In conjunction with staff and other stakeholders, develops an annual operating budget and recommends for board approval
- Monitors adherence to budget and recommends changes, if necessary
- Sets long-term financial goals with funding strategies to achieve them
- Considers special, unbudgeted requests and make recommendations to board
- Develops multi-year operating budgets that tie to strategic plan
- Ensures adequacy of financial controls and monitor for compliance
- Ensure financial literacy of board members by providing training
Goals for 2023-2024
- Engage board in a critical assessment of the budget as it relates to organizational priorities and goals
- Hold a yearly ECS financial training course for ECS Staff and/or New Board members
- Ensure school budgets and cash flows are transparent, supportable, and sustainable
- Support ECHSG's financial objectives in the facilities development and school startup process
THE ORDER OF BUSINESS MAY BE CHANGED WITHOUT NOTICE
Notice is hereby given that the order of consideration of matters on this agenda may be changed without prior notice.
PUBLIC SPEAKERS AT STANDING COMMITTEE MEETINGS
Notice is hereby given that consistent with the requirements of the Ralph M. Brown Act, special presentations not mentioned in the agenda may be made at this meeting. However, any such presentation will be for information only. The public should be aware that the Committee is unable by law to deliberate or take action on items raised during the Presentations from the Floor section.
Environmental Charter Schools recognizes that it benefits greatly from public input and perspective. Individuals are invited to address the Committee on any topic or subject matter that falls within the Committee's purview. Speakers may sign up in person immediately prior to the beginning of the Committee meeting by speaking with the Committee Chair.
Should a member of the public wish to speak on matters not listed on the agenda, they may speak during the Presentations from the Floor section of the agenda. Speakers will be given a maximum of three (3) minutes each to address the Committee (non-English speakers utilizing translators will be given a maximum of six (6) minutes each). Please note that the Committee allows a maximum of 10 minutes to each subject as determined by the Committee Chair.
Should a member of the public wish to speak on matters listed on the agenda, they may speak during the Presentations from the Floor section of the agenda. Speakers will be given a maximum of five (5) minutes each to address the Committee (non-English speakers utilizing translators will be given a maximum of ten (10) minutes each).
The public should be aware that the Committee is unable by law to deliberate or take action on items raised during the Presentations from the Floor section.
REASONABLE ACCOMMODATION WILL BE PROVIDED FOR ANY INDIVIDUAL WITH A DISABILITY
Pursuant to the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, any individual with a disability who requires reasonable accommodation to attend or participate in this meeting of the Governing Board may request assistance by contacting ECS at (310) 214-3408, option 5.
FOR MORE INFORMATION
For more information concerning this agenda or for materials relating to this meeting, please contact ECS at (310) 214-3408, option 5.
Committee Members Present
Andrew Ellenbogen (remote), Dr. Denise Berger (remote), Farnaz Golshani-Flechner (remote), Tracy Bondi (remote)
Committee Members Absent
Bruce Greenspon, Mason Williams
Committee Members who left before the meeting adjourned
Farnaz Golshani-Flechner
Guests Present
Dorothy Lee (remote), Jair Ventura (remote), Jeremiah David (remote), Remco Waller (remote), Sarahai Garibay (remote)
I. Opening Items
A.
Record attendance and guests
B.
Call the Meeting to Order
C.
Approve agenda
Roll Call | |
---|---|
Bruce Greenspon |
Absent
|
Dr. Denise Berger |
Aye
|
Tracy Bondi |
Aye
|
Farnaz Golshani-Flechner |
Aye
|
Andrew Ellenbogen |
Aye
|
Mason Williams |
Absent
|
II. Presentations from the Floor
A.
Presentation from the floor on non agenda items
B.
Presentations from the floor on agenda items
None.
III. Discussion Items / Updates
A.
EdTec financial update
EdTec consultant Dorothy Lee presented the ECS Financial Update slides:
- ECHS-L ADA: P2 ADA 454.2, drop in 4.36 from last forecast
- ECHS-L Forecast Changes - Operating income decreased by $141k
- ECMS-G ADA: P2 ADA 337.3, increase of 2.5 from last forecast
- ECMS-G Forecast Changes - Operating income decreased by $18k
- ECMS-I ADA: P2 ADA 337.2, increase of 2.38 from last forecast
- ECMS-I Forecast Changes - Operating income decreased by $87k
- ECHS-G ADA: P2 ADA 312.7, decrease of 4.36 from last forecast
- ECHS-G Forecast Changes - Operating income decreased by $43k
- FY25 Budget Assumptions: 0.76% COLA, STRS 19.10%, PERS 27.80%. Current FY25 budget drafts show:
- ECHS-L: operating loss of $55k
- ECMS-G: operating loss of $140k
- ECMS-I: operating loss of $39k
- ECHS-G: operating income of $319k. This operating income will show higher due to accounting treatment required by GAAP.
IV. Consent Items A-D
A.
Recommend board approval of private donations over $1,000
Roll Call | |
---|---|
Andrew Ellenbogen |
Aye
|
Bruce Greenspon |
Absent
|
Farnaz Golshani-Flechner |
Aye
|
Mason Williams |
Absent
|
Tracy Bondi |
Aye
|
Dr. Denise Berger |
Aye
|
B.
Recommend board approval of contracts
Roll Call | |
---|---|
Tracy Bondi |
Aye
|
Mason Williams |
Absent
|
Andrew Ellenbogen |
Aye
|
Bruce Greenspon |
Absent
|
Dr. Denise Berger |
Aye
|
Farnaz Golshani-Flechner |
Aye
|
C.
Recommend approval of check registers and credit card statements
Roll Call | |
---|---|
Dr. Denise Berger |
Aye
|
Farnaz Golshani-Flechner |
Aye
|
Bruce Greenspon |
Absent
|
Mason Williams |
Absent
|
Andrew Ellenbogen |
Aye
|
Tracy Bondi |
Aye
|
D.
Recommend acceptance of FY23 ECS tax return forms 990 and 199
Roll Call | |
---|---|
Dr. Denise Berger |
Aye
|
Tracy Bondi |
Aye
|
Andrew Ellenbogen |
Aye
|
Farnaz Golshani-Flechner |
Aye
|
Mason Williams |
Absent
|
Bruce Greenspon |
Absent
|
V. Action Item
A.
Recommend board approval of Second Interim Financial Reports for ECHS-L, ECMS-G, ECMS-I, ECHS-G as recommended by Finance Committee
Roll Call | |
---|---|
Dr. Denise Berger |
Aye
|
Tracy Bondi |
Aye
|
Bruce Greenspon |
Absent
|
Mason Williams |
Absent
|
Andrew Ellenbogen |
Aye
|
Farnaz Golshani-Flechner |
Aye
|
VI. Transition to Closed Session
A.
Adjourn to closed session
Roll Call | |
---|---|
Tracy Bondi |
Aye
|
Farnaz Golshani-Flechner |
Aye
|
Andrew Ellenbogen |
Aye
|
Mason Williams |
Absent
|
Dr. Denise Berger |
Aye
|
Bruce Greenspon |
Absent
|
VII. Closed Session
A.
CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION
VIII. Report Out of Closed Session
A.
Report Out
The Committee came back from closed session with nothing to report out.
IX. Closing Items
A.
Appreciations
B.
Adjourn Meeting
Roll Call | |
---|---|
Dr. Denise Berger |
Aye
|
Farnaz Golshani-Flechner |
Absent
|
Bruce Greenspon |
Absent
|
Tracy Bondi |
Aye
|
Mason Williams |
Absent
|
Andrew Ellenbogen |
Aye
|
None.