Advanced Math & Science Academy Charter School
Minutes
Finance Committee Meeting
Finance Committee Meeting
Date and Time
Wednesday December 15, 2021 at 5:30 PM
Committee Members Present
Dawn Capello (remote), Kristin Carney (remote), Liana McLaren (remote), Roger Jarrett (remote)
Committee Members Absent
Lucy Ferrante, Nicholas Poirier
Guests Present
Ellen Linzey (remote)
I. Opening Items
A.
Record Attendance and Guests
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 Wednesday Dec 15, 2021 at 5:30 PM.
C.
Approve Minutes
Liana McLaren made a motion to approve the minutes from Finance Committee Meeting on 11-15-21.
Kristin Carney seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Liana McLaren |
Aye
|
| Lucy Ferrante |
Absent
|
| Roger Jarrett |
Aye
|
| Nicholas Poirier |
Absent
|
| Kristin Carney |
Aye
|
| Dawn Capello |
Aye
|
II. Finance & Audit
A.
Review November 2021 Financial Statements
Liana and Ellen informed the committee that the city of Marlborogh had previously approved a real estate tax abatement on the property. Liana to report back to the committee in January on the amount of overpayment of real estate taxes to previous landlord.
B.
Review Revised Procurement Policy
Committee discussed the pros and cons of increasing the amount of approvable unexpected out-of-budget expenses to $300,000 per fiscal year. It was agreed that it would be the policy during the building project and revisited Fall 2022. Roger will add agenda item to the January 2022 BoT meeting to inform the BoT of this change.
Dawn Capello made a motion to Approve amended procurement policy.
Roger Jarrett seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Lucy Ferrante |
Absent
|
| Liana McLaren |
Aye
|
| Kristin Carney |
Aye
|
| Roger Jarrett |
Aye
|
| Dawn Capello |
Aye
|
| Nicholas Poirier |
Absent
|
C.
Review Common Area Maintenance Budget and Process
Info only. Liana and Ellen reported that they are working with Erik to develop a list of facility repair needs as well as prioritization.
D.
Capital Campaign Money
Tabled to January
E.
Urgent Business
None
III. Closing Items
A.
Adjourn Meeting
Kristin Carney made a motion to Adjourn.
Liana McLaren seconded the motion.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| Lucy Ferrante |
Absent
|
| Nicholas Poirier |
Absent
|
| Kristin Carney |
Aye
|
| Dawn Capello |
Aye
|
| Liana McLaren |
Aye
|
| Roger Jarrett |
Aye
|
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,
Dawn Capello
Documents used during the meeting
- November 2021 Financial Statements.xlsx
- Cash Disbursement Memo FY22.docx
- CAM Policy draft 12.15.21.docx