Voices for International Business and Education
Minutes
Finance Committee Meeting
Date and Time
Monday August 17, 2015 at 5:30 PM
Location
IHS
Voices for International Business and Education
http://public.boardontrack.com/VIBE_1
Committee Members Present
C. Allen, D. Deno, H. Blumenthal, K. Turner, S. Wilson
Committee Members Absent
A. Anderson
Guests Present
Betty Wolfers, Carmelita Johnson, Karen Dwyer, M. Garcia, Mariska Roney
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
H. Blumenthal called a meeting of the Finance Committee of Voices for International Business and Education to order on Monday Aug 17, 2015 at 5:38 PM.
C.
Approve Minutes
K. Turner made a motion to approve minutes from the Finance Committee Meeting on 06-11-15 Finance Committee Meeting on 06-11-15.
H. Blumenthal seconded the motion.
The committee VOTED to approve the motion.
II. Finance
A.
REVIEW JULY 2015 FINANCIAL STATEMENTS
The committee reviewed the July 2015 financial statement.
B.
DICUSS VALUE OF DEVELOPING COMPARISONS OF IHS BUDGET AND OTHER APPROPRIATE PUBLIC CHARTER SCHOOLS
Denise Deno agreed to get appropriate comparative financial information from the East Bank Collaborative to be reviewed and discussed by the committee at the next meeting.
C.
APPROPRIATE PROCEDURES FOR BOARD MEMBERS TO EXERCISE FIDUCIARY FINANCIAL RESPONSIBILITY
The treasurer presented to the committee a resolution entitled "The Appropriate Procedure for Board Members to Exercise Fiduciary Financial Responsibility." The committee amended the resolution to include a review of how the procedure is working after a 3 month period.
K. Turner made a motion to recommend Board approval of the amended Resolution.
H. Blumenthal seconded the motion.
The committee VOTED to approve the motion.
D.
REVIEW 2014/2015 YEAR END FINANCIAL STATEMENTS
The committee discussed and reviewed the 2014/2015 year end financial statements.
III. Other Business
A.
DISCUSSION OF HEAD OF SCHOOL SALARY AFTER REVIEW OF HIS EVALUATION
K. Turner made a motion to advise the board that there were appropriate funds to approve an increase in Mr. Wilson's salary.
H. Blumenthal seconded the motion.
The committee VOTED to approve the motion.
B.
PUBLIC COMMENT
Ms. Wolfers recommended PTO funds should be used for extra curricular activities.
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 6:30 PM.
Respectfully Submitted,
H. Blumenthal