Committee members welcomed Darren James as a new Finance Committee member.

Discussion held regarding review of financial statement and handling of certain line items.  DF asked about the diversification project for greater FDIC protection, including the need to get money into accounts with greater interest rates.  MG is waiting to diversify the cash holdings while she works to connect with ED.  School used to have some of its operating account in CD that earned $50K, but it expired and was not renewed.  DF asked about whether any of the line items on the budget included federal grant money that might be in danger of loss for the current fiscal year depending on changes in federal law and policy.  MG stated that approximately $600K of the budget is federal grant money, however DESE has already received federal grant distributions for the entire fiscal year, so there should be no interruption in the receipt of federal grant funds this year.  Additionally, the governor's proposed budget includes a healthy 6% increase for tuition for next year, so that may help shore up spending, although that number may change.  DJ asked about particular investment options that might help the school earn better returns, and discussion was held regarding FDIC options for protection (including possibly titling the accounts differently to avoid having to split funds between too many different banks), and exploring options at Fidelity, Bank 5, Monson Savings Bank.  DJ also raised the idea of banking with FinTech companies which will do the distribution among different institutions for you.  ED will go forward with scheduling a meeting with Monson Savings Bank and continue to work on finding safe places with good returns to store school funds.

Brief discussion of situation with previous minutes and need to ensure prompt disclosure of minutes in accordance with OML for past committee minutes and going forward.