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Living School

Living School Finance & Development Committee

Date and Time

Tuesday May 10, 2022 at 6:00 PM CDT
All are welcome at Living School Board Meetings.  Translation is available with 24 hours notice.  Public comment is welcome on any item on the agenda.  Members of the public wishing to comment, may raise their hand and be recognized by the Board Chair to speak for up to 2 minutes per person, per agenda item.  On any matter up for a vote, public comment must be heard prior to taking the Board's vote.  For members of the public wishing to address the Board for longer than 2 minutes on any given agenda item, please give the Board Chair at least 24 hours notice to be added to the agenda.

Agenda

     
I. Opening Items
 
Opening Items
  A. Record Attendance and Guests
  B. Call the Meeting to Order
  C. Approve Minutes
    Approve minutes for Living School Finance & Development Committee on April 12, 2022
  D. Approve December 2021 Minutes
   
II. Finance & Development Committee
  A. Review FY22 Committee Description & Goals
   
See FY22 Committee Description
 
FY22 Goals
GOAL 1: Monitor Organizational Sustainability
GOAL 2: Ensure Audit & Financial Compliance
GOAL 3: Establish Fundraising Target for Future Facility Expansion or Development and Oversee Development of the Plan
  B. Review Financial Documents
   

YTD Budget vs. Actuals & Dashboard through 4/30/2022
  C. Development Updates
   

 

 

 
  D. Mutual Aid Accounting & Resolution
   

Refer to our Post-Ida Mutual Aid Tracker

 

In the aftermath of Hurricane Ida, Living School received approximately $40k in donations and paid out a similar amount in mutual aid, though most of the mutual aid went through Stefin's personal accounts because of the need to distribute funds quickly through CashApp or Venmo.  Prior to approving this $40k reimbursement, the auditor suggests the Board take the following steps:

 

  1. Review the attached accounting and resolve any questions
  2. Adopt a resolution stating the Board's awareness and approval of Living School's mutual aid work (draft language below)
  3. Accept Stefin's letter of assurance that he did not benefit from said transactions
  4. Process Stefin's reimbursement like a normal reimbursement once the Board approves

Draft Resolution

We, the Board of Living School, hereby acknowledge & approve that in response to Hurricane Ida (a federally-declared disaster), our staff mobilized Mutual Aid for our students & staff in need.  This aid was primarily cash paid directly to staff & families through CashApp to support costs of evacuation, emergency shelter, relocation, repairs, and other critical needs.  While Living School received generous private donations to support these costs, the urgency of the situation led our School Director, Stefin Pasternak, to use his personal account to distribute aid as quickly as possible, necessitating a large reimbursement transaction accounted for in the accompanying spreadsheet.
  E. Preview FY23 Draft Budget
   

Revising to eliminate $500k deficit to bring a budget for Board Approval to the Retreat.
III. Closing Items
  A. Adjourn Meeting