River Valley Charter School
Minutes
Finance Committee Meeting
Date and Time
Wednesday December 6, 2023 at 6:00 PM
Location
River Valley Charter School. 2 Perry Way, Newburyport. Middle School Great Room
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.
Committee Members Present
C. Whitford, D. Draper, D. Herrera, J. Evans
Committee Members Absent
None
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
II. Finance
A.
Review September 30, 2023 Financial Results
B.
Review Finance Committee Purpose and Responsibility Document
The Finance Committee reviewed proposed changes to the Purpose and Responsibility document. Minor updates were made and are included with the December 2023 minutes in redline for approval by the full board.
C.
Insurance Policy Review
The Treasurer received the Summary of Insurance from Mark Bailey at Eastern Insurance Agency and will review to ensure that appropriate coverages are in place.
III. Other Business
A.
Other Matters
Jonnie Lyn provided updates on other finance related matters as follows:
- The school was looking at potential uses of Venmo accounts.
- We discussed appropriate controls over the bank accounts of the school including approval limits, dual authorizations, etc.
- Work continues on developing a long-term plan for the school grounds. Estimates are being received for surveying. Pond drainage costs are being estimated.
- A fundraising update from the year campaign was provided.
- A letter was received from Diane's Fine Foods regarding an encroachment on RVCS property.
- A review of the parking and grounds matter was discussed including the ongoing Safe Schools review.
IV. Closing Items
A.
Adjourn Meeting
- Balance Sheet 10.31.2023.xlsx
- Budget vs Actuals 10.31.2023.xlsx
- RVCS BOT Finance Committee Description.doc
The Finance Committee reviewed the 9/30/23 and 10/31/23 (draft) results. Both revenue and expense items are on track as of the first quarter. We will continue to monitor results as the year proceeds.