F.W. Parker Charter Essential School
Minutes
Finance Committee Meeting
Date and Time
Monday February 10, 2025 at 5:30 PM
Committee Members Present
B. Harrigan, C. Soderman (remote), E. Sturgis, L. Clarke, M. McKenna, N. Odekirk Hatlevig (remote), R. Egan
Committee Members Absent
B. Muldoon, J. Appleton
I. Opening Items
A.
Record Attendance and Introductions if needed
B.
Call the Meeting to Order
C. Soderman called a meeting of the Finance Committee of F.W. Parker Charter Essential School to order on Monday Feb 10, 2025 at 5:30 PM.
C.
Approve Minutes
L. Clarke made a motion to approve the minutes from Finance Committee Meeting on 01-06-25.
B. Harrigan seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| E. Sturgis |
Aye
|
| B. Muldoon |
Absent
|
| M. McKenna |
Aye
|
| J. Appleton |
Absent
|
| B. Harrigan |
Aye
|
| R. Egan |
Abstain
|
| N. Odekirk Hatlevig |
Aye
|
| C. Soderman |
Aye
|
| L. Clarke |
Aye
|
D.
Approve Minutes
N. Odekirk Hatlevig made a motion to approve the minutes from Finance Committee Meeting - Parker Finance 101 on 02-04-25.
E. Sturgis seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| C. Soderman |
Aye
|
| B. Harrigan |
Aye
|
| L. Clarke |
Aye
|
| E. Sturgis |
Aye
|
| N. Odekirk Hatlevig |
Aye
|
| B. Muldoon |
Absent
|
| R. Egan |
Abstain
|
| J. Appleton |
Absent
|
| M. McKenna |
Aye
|
II. Finance
A.
FY26 Tuition Budget Preview
B.
Strategic Plan Implementation Costs
E. Sturgis made a motion to to approve the FY26 drawdown of $245,000 from reserves as part of a 3 year conceptual plan to drawn up to $533,000 from reserves to support the rollout of the strategic plan.
L. Clarke seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| E. Sturgis |
Aye
|
| N. Odekirk Hatlevig |
Aye
|
| J. Appleton |
Absent
|
| C. Soderman |
Aye
|
| B. Muldoon |
Absent
|
| B. Harrigan |
Abstain
|
| R. Egan |
Abstain
|
| L. Clarke |
Aye
|
| M. McKenna |
Aye
|
C.
Q2 results FY24
Michelle presented the Q2 FY25 results and year end projections as attached. Michelle explained that after the $300,000 mid year bonus, she still anticipates adding to reserves from an operating surplus at the end of FY25.
III. Closing Items
A.
Adjourn Meeting
N. Odekirk Hatlevig made a motion to to adjourn.
C. Soderman seconded the motion.
next meeting 3/13 5:30-7
| Roll Call | |
|---|---|
| L. Clarke |
Aye
|
| N. Odekirk Hatlevig |
Aye
|
| R. Egan |
Abstain
|
| E. Sturgis |
Aye
|
| J. Appleton |
Absent
|
| C. Soderman |
Aye
|
| B. Muldoon |
Absent
|
| M. McKenna |
Aye
|
| B. Harrigan |
Aye
|
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 6:56 PM.
Respectfully Submitted,
M. McKenna
Documents used during the meeting
- 2-10-25 fincom.pptx
Michelle presented updated per pupil revenue assumptions for FY26. Based on updated numbers from the Governor's budget and input from districts regarding currently planning, Michelle explained that the increase could be as high as 5% but she felt more like 3-4% was a more reasonable range. the committee endorsed the used of 3.75% inflation factor as well as 390 students as a basis to start budget planning.