Final

River Valley Charter School

Finance Meeting

Published on December 9, 2024 at 10:48 AM EST
Amended on December 11, 2024 at 12:12 PM EST

Date and Time

Wednesday December 11, 2024 at 6:00 PM EST

Location

This meeting will be held virtually. Click HERE for Zoom Link.

River Valley Charter School welcomes your participation at Board meetings. The purpose of a public meeting of the Board of Trustees (“Board”) is to conduct the affairs of the organization in public. Your participation assures us of continuing community interest in our school and assists the Board in making the best decisions for our school. To assist you in the ease of speaking/participating in our meetings, guidelines are provided at the bottom of this agenda. All materials for all board and committee meetings, are available on our Board on track public portal found at rivervalleycharter.org.

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 6:00 PM
  A. Record Attendance   1 m
  B. Call the Meeting to Order  
II. Finance 6:01 PM
  A. Review Year-to-Date Financial Results Discuss Central Source 20 m
  B. Onsight Insite Analysis Discuss Chris Whitford 20 m
   

Onsight Insite analysis - RVCS leadership is asking us to evaluate and recommend a balance of our capital account that can be utilized for Grounds Redesign.  Current cash balance of $282K in the capital account.

  
  C. Other Items Discuss Chris Whitford 15 m
   

Role of the RVCS Foundation 

 

Audits

  • Financial statements were submitted as was the MTRS report.  
  • End of Year report which is a 20% threshold calculation of unrestricted surplus from tuition over our current year tuition dollars.  River Valley is not close to the excess surplus threshold.   
  • FN 8 - there is a reference to a debt service ratio of 1.2 to 1 to be compliant with the debt covenant. 
  • FN 10, we mention the School's allocation of pension liability is $6.7M.  That's not actually a liability of the school but rather the portion of the overall MTRS liability related to RVCS.

Community Preservation Act - RVCS is applying for funds which would require the playground to be open to the public during non-school hours.  Impact of insurance.

 

Investing of Cash Balance

  
III. Other Business
IV. Closing Items 6:56 PM
  A. Adjourn Meeting Vote Chris Whitford 1 m

THE ORDER OF BUSINESS MAY BE CHANGED WITHOUT NOTICE Notice is hereby given that the order of consideration of matters on this agenda may be changed without prior notice.

REASONABLE LIMITATIONS MAY BE PLACED ON PUBLIC TESTIMONY The Board Chair reserves the right to impose reasonable time limits on public testimony to ensure that the agenda is completed.