Advanced Math & Science Academy Charter School
Minutes
Finance Committee Meeting
Date and Time
Monday November 15, 2021 at 5:30 PM
Committee Members Present
Dawn Capello (remote), Kristin Carney (remote), Liana McLaren (remote), Lucy Ferrante (remote), Nicholas Poirier (remote), Roger Jarrett (remote)
Committee Members Absent
None
Committee Members who left before the meeting adjourned
Nicholas Poirier
Guests Present
Bob Baldwin (remote), Ellen Linzey (remote), Kseniya Slavsky (remote), Margaret Wood (remote)
I. Opening Items
A.
Record Attendance and Guests
Nicholas Poirier left at 6:30 PM.
B.
Call the Meeting to Order
Liana McLaren called a meeting of the Finance & Audit Committee of Advanced Math & Science Academy Charter School to order on Monday Nov 15, 2021 at 5:30 PM.
C.
Approve Minutes
Dawn Capello made a motion to approve the minutes from Finance Committee Meeting on 09-21-21.
Kristin Carney seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Dawn Capello |
Aye
|
| Kristin Carney |
Aye
|
| Nicholas Poirier |
Aye
|
| Roger Jarrett |
Aye
|
| Liana McLaren |
Aye
|
| Lucy Ferrante |
Aye
|
D.
Approve Minutes
Dawn Capello made a motion to approve the minutes from Finance Committee Meeting on 10-19-21.
Roger Jarrett seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Nicholas Poirier |
Aye
|
| Kristin Carney |
Aye
|
| Roger Jarrett |
Aye
|
| Dawn Capello |
Aye
|
| Lucy Ferrante |
Aye
|
| Liana McLaren |
Aye
|
E.
Approve Minutes
Roger Jarrett made a motion to approve the minutes from Finance Committee Meeting on 10-26-21.
Dawn Capello seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Liana McLaren |
Aye
|
| Kristin Carney |
Aye
|
| Nicholas Poirier |
Aye
|
| Dawn Capello |
Aye
|
| Roger Jarrett |
Aye
|
| Lucy Ferrante |
Aye
|
II. Finance & Audit
A.
Review October 2021 Financial Statements
Liana updated the committee: GASB rules dictate that financing costs need to be expensed in the same calendar year. Auditors aware.
B.
Review and Revise Procurement Policy
After general discussion of the need to update the policy the members asked Liana and Ellen to come back to the next meeting with suggested edits to the policy for discussion and vote.
C.
Review Construction Tracking Process
Kseniya Slavsky (ANSER) led an overview of the AMSA campus building and renovation project budget and costs tracking system. Once we have firm numbers (ETA Jan/Feb 2022) from construction design phase, Kseniya will update the system and report out monthly to the AMSA Finance Committee.
D.
Capital Campaign Money
General discussion concerning which account(s) that capital campaign donations for the AMSA campus building and renovation project will be recorded to. Stem Soaring Eagles Foundation 501C3. Roger to touch base with the Foundation and report back to the finance committee. Liana will be the point person for receiving and recording donations.
E.
Urgent Business
Ellen updated the Finance Committee that $9200 will be spent on repairs to the Upper School roof to address leaks. This amount falls under her authorized ability to purchase out of budget items under $20,000.
III. Closing Items
A.
Adjourn Meeting
Kristin Carney made a motion to Adjourn.
Dawn Capello seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Roger Jarrett |
Aye
|
| Liana McLaren |
Aye
|
| Kristin Carney |
Aye
|
| Nicholas Poirier |
Absent
|
| Dawn Capello |
Aye
|
| Lucy Ferrante |
Aye
|
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 7:18 PM.
Respectfully Submitted,
Dawn Capello
Documents used during the meeting
- October 2021 Financial Statements.xlsx
- 21_1112-OIG Draft.pdf
- Roof Repair.pdf