F.W. Parker Charter Essential School
Finance Committee Meeting
Published on May 7, 2021 at 2:16 PM EDT
Amended on May 11, 2021 at 12:32 PM EDT
Date and Time
Tuesday May 11, 2021 at 5:45 PM EDT
Location
This meeting will be held virtually via Microsoft Teams and can be accessed by committee members and the public at http://parker.school/financecommittee.
Agenda
| I. | Opening Items | |
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Opening Items
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| A. | Record Attendance and Guests | |
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record attendance
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| B. | Call the Meeting to Order | |
| C. | Approve Minutes | |
| Approve minutes for Finance Committee Meeting on April 13, 2021 | ||
| II. | Finance | |
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Finance
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| A. | Review Q3 results and year end projection | |
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Review projections for year and review proposal for year end stipends. Excerpt from Todd's principal's report :
As you know, we’ve tried to manage through a lot of uncertainty in FY21 and wanted to wait until the fourth quarter to make a proposal at FinComm that we commit a “typical” amount of year-end operating surplus to re-building capital reserves and distribute remaining funds to staff in the form of year-end bonuses. We will make such a recommendation to FinComm in May. |
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| B. | Audit update | |
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Audit is scheduled for the week of August 9th. Any areas of concern or suggested focus? They will spend much more time on grants due to the increased volume.
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| C. | Technology Stabilization Fund | |
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Michelle and Todd would like to present to the committee the creation of a Technology Stabilization Fund as a new board designated reserve. The purpose of a new board-directed reserve, “technology stabilization,” is to accrue funds needed for planned replacement of aging equipment over multiple years rather than expensing replacement costs all in a single year. Technology stabilization reserve would function like the “facilities reserves” do currently. It will be funded from operations annually.
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| III. | Closing Items | |
| A. | Adjourn Meeting | |