Martin Luther King Jr. Charter School of Excellence
Minutes
Finance Committee Meeting
Date and Time
Thursday June 11, 2026 at 10:00 AM
Location
Board Of Trustees is inviting you to a scheduled Zoom meeting.
Topic: Finance Committee Meeting
Time: Jun 11, 2026 10:00 AM Eastern Time (US and Canada)
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Committee Members Present
Alena Mudry (remote), Caleb Pointdujour (remote), Diana Foskett (remote), Kendra Salvador (remote), Megan Garnett (remote), Nealon Jaynes-Lewis (remote)
Committee Members Absent
Darren James, Teremar Rodriguez-Vazquez
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
D.
Approve minutes
II. Finance Committee
A.
Discussion of May 2026 Financial Statements
- Diana announced that there is a vacancy in the treasurer position for the Finance Committee and encouraged someone to volunteer for the role at the next board meeting.
- Committee members reviewed May 2026 financial statements (balance sheet & budget).
- Diana informed the group that Monson Savings Bank had made an error in setting up accounts under the wrong entity name and was seeking clarification on the correct legal name and EIN numbers.
- Kendra confirmed that both federal and state EIN numbers exist and offered to check with Rosa to obtain the necessary documentation for the bank.
- The team discussed issues with investment income and CD placements. Megan explained that expected interest from a CD wasn't realized because the funds weren't properly rolled over as planned.
- The team discussed reorganizing their investment accounts, with Diana noting that the Monson funds should be in accounts earning interest rather than checking accounts.
- Kendra will contact the bank to organize the accounts and coordinate EIN document submission, while also checking on audit RFP responses due in two weeks.