Magnolia Public Schools
Minutes
Finance/Audit Committee Meeting
Date and Time
Thursday December 8, 2016 at 6:30 PM
Location
MSA 6 3754 Dunn Drive Los Angeles, CA 90034
Regular Finance/Audit Committee Meeting
Finance Committee Members:Ms. Noel Russell-Unterburger, Chair
Mr. Serdar Orazov
CEO and Superintendent:
Dr. Caprice Young
Committee Members Present
N. Russell-Unterburger, S. Orazov
Committee Members Absent
None
I. Opening Items
A.
Call the Meeting to Order
N. Russell-Unterburger called a meeting of the Finance Committee of Magnolia Public Schools to order on Thursday Dec 8, 2016 at 6:33 PM.
B.
Record Attendance and Guests
Both committee members were present in person.
C.
Public Comment
There were no public comments.
D.
Approval of Agenda
N. Russell-Unterburger made a motion to approve the agenda as presented.
S. Orazov seconded the motion.
The committee VOTED unanimously to approve the motion.
E.
Flag Salute
The Flag salute was led by, B. Torres, Executive Assistant.
II. Action Items- Recommendation to Full Board
A.
Review and Approval of 2016 Financial Audit
M. Miller and J. Clement from VTD presented the 2016 consolidated audit report to the Audit/Finance Committee members. He explained the restricted funds and went over end balances. K. Dietz, from Edtec assisted the auditors in answering questions from the report, all questions were addressed. No actions were taken on this item, the committee decided to take this item to the full Board for further discussion.
III. 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 7:06 PM.
Respectfully Submitted,
N. Russell-Unterburger