Magnolia Public Schools
Minutes
Finance/Audit Committee Meeting
Date and Time
Thursday April 21, 2016 at 3:45 PM
Location
MSA Santa Clara: 14271 Story Road San Jose, CA 95127 Dial: 1.844.572.5683 Code: 1948435
Special Finance Committee Meeting
Finance Committee Members:
Noel Russell-Unterburger, Chair
Serdar Orazov
CEO and Superintendent:
Caprice Young
Closed Session:
Conference with Real Property Negotiators
Property: 1290 Pomeroy Ave Santa Clara, CA 95051
Agency Negotiator: Frank Gonzalez
Negotiating Parties: Mission City Church Assembly of God Santa Clara
Committee Members Present
N. Russell-Unterburger, O. Diaz, S. Orazov
Committee Members Absent
None
Guests Present
B. Torres (remote), C. Young, K. Hourigan, S. Acar
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
B. Torres called a meeting of the Finance Committee of Magnolia Public Schools to order on Thursday Apr 21, 2016 at 3:55 PM.
C.
Public Announcement of Reasons for Closed Session
The committee members went into closed session to discuss property negotiations.
II. Closed Session
A.
Conference with Real Property Negotiators
The board gave directions to MPS staff to continue negotiations on new possible Santa Clara facility.
III. Discussion Item
A.
Discussion of Baseline Capital Plan
O. Diaz, CFO and C. Young, CEO, presented the Baseline Capital Plan to the committee. Budget forecasts and different facility scenarios for different schools were discussed at length. This was a discussion item, no actions were taken.
IV. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 4:45 PM.
Respectfully Submitted,
N. Russell-Unterburger