F.W. Parker Charter Essential School
Minutes
Finance Committee Meeting
Date and Time
Tuesday February 8, 2022 at 5:30 PM
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.
Committee Members Present
B. Muldoon, G. Penna, J. Appleton, M. McKenna, T. Sumner
Committee Members Absent
None
Guests Present
C. Soderman
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
C.
Approve Minutes
Christina Soderman voted as a voting member with an Aye, Board on Track was unable to record vote properly.
| Roll Call | |
|---|---|
| B. Muldoon |
Abstain
|
| M. McKenna |
Aye
|
| G. Penna |
Aye
|
| T. Sumner |
Aye
|
| J. Appleton |
Aye
|
II. Finance
A.
Q2 Dashboard
B.
FY23 Budget Highlights
Michelle and Todd presented some of the preliminary assumptions for the FY23 budget. The committee agreed to the 390 headcount for students based on application trends for the last two years as well as the retention trend results for FY22. The committee was in favor of using a 3% increase on FY22 projected per pupil tuition as a baseline revenue assumption for the FY23 budget. After discussion around adding a $100k line item for Capital Savings, the committee ultimate endorsed the idea. There was some discussion about year to year spending trends and if we were saving enough money. There was also some discussion about the merits of budgeting less conservatively and making the Capital Needs savings line item larger than $100k.
C.
Mid Year Review
Michelle explained that the typical mid year financial review is underway and that the results should hopefully be available next month.
Michelle and Todd presented Q2 FY 22 financial results and year end projections. Committee members discussed the current student enrollment counts and the application counts for FY23