Voices for International Business and Education
Minutes
Finance Committee Meeting
Date and Time
Thursday April 21, 2016 at 5:30 PM
Location
IHS Community Room
Voices for International Business and Education http://public.boardontrack.com/VIBE_1
Committee Members Present
C. Allen, D. Deno, H. Blumenthal, K. Turner, M. Roney, S. Wilson
Committee Members Absent
None
Committee Members who arrived after the meeting opened
K. Turner
Guests Present
Melanie Flot, R. Keller, T. Nguyen
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
M. Roney called a meeting of the Finance Committee of Voices for International Business and Education to order on Thursday Apr 21, 2016 at 5:44 PM.
C.
Read Mission and Vision Statements
D.
Approve Minutes of October 20, 2015 Finance Committee Meeting
C. Allen made a motion to approve minutes from the Finance Committee Meeting on 10-20-15 Finance Committee Meeting on 10-20-15.
R. Keller seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Finance
A.
Management Overview of Financial Status
- On point with budget and meeting projected budget.
- There is nothing expected to occur within the next 3 months that would offset the budget.
- MFP is expected to increase by approximately $50,00 a month.
K. Turner arrived.
B.
Review of March 2016 Financial Statements
Mariska will make a motion at the next board meeting to approve the financial statements.
III. Other Business
A.
Review and Discussion of Preliminary FY '16-2017 Budget
- Distributed a copy of the projected budget for next year 2016-17.
- Projected next year's budget on 580 student.
- State has released the MFP for local and state.
- The goal is to eventually move all requisitions to electronic format/submission.
- The budget reflects surplus spending for current year. Included: facilities, materials & supplies.
- Administration is exploring options for Employee Benefits that is more attractive.
- Current 401K plan offers a match only if the employee participates.
- Administration is considering offering an employer contribution towards retirement plan whether or not the employee opts in.
- Currently ISHNO does not have a set curriculum in place. This summer there a unit plan and curriculum that will be established and implemented for the next school year 2016-17.
- What is the cash balance used for? If the school or board finds a need.
- What is the 30 day cash requirement? 2 1/2 months of expenses
- Is currently receiving 1% on the checking account balance.
- Note: The budget is a rough draft. Next steps will be to meet with individual departments to determine a true projection that reflects each department.
B.
Update on Other Items from Strategic Plan
C.
Public Comment
IV. Closing Items
A.
Discuss Date for "Special" Development Meeting
Meeting scheduled for Monday, May 9, 2016 at 5:30pm
B.
Next Finance Committee Meeting Monday, May 16 5:30 at IHSNOLA
C.
Adjourn Meeting
K. Turner made a motion to adjourn the meeting.
R. Keller seconded the motion.
The committee VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 6:57 PM.
Respectfully Submitted,
T. Nguyen