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Magnolia Public Schools

Minutes

Finance Committee Meeting

Date and Time

Thursday January 13, 2022 at 5:30 PM

Location

https://zoom.us/j/93360447184?pwd=NDMyNVBHUWdCN0cyNTQwSHZMeThSUT09
Meeting ID: 933 6044 7184        Passcode: 252694
One tap mobile: +16699009128,,93360447184# US (San Jose)

Finance Committee Members:
Dr. Salih Dikbas, Chair
Mr. Mekan Muhammedov
Dr. Umit Yapanel (alternate)

CEO and Superintendent:
Mr. Alfredo Rubalcava

Committee Members Present

M. Muhammedov (remote), S. Dikbas (remote)

Committee Members Absent

None

I. Opening Items

A.

Call the Meeting to Order

S. Dikbas called a meeting of the Finance Committee of Magnolia Public Schools to order on Thursday Jan 13, 2022 at 5:36 PM.

B.

Record Attendance and Guests

Refer to attendance information stated above.

C.

Approval of Agenda

S. Dikbas made a motion to approve the agenda as presented.
M. Muhammedov seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
M. Muhammedov
Aye
S. Dikbas
Aye

D.

Public Comments

No public comments were made at this time.

E.

Announcements from CEO & Superintendent and Committee Members

No updates were made at this time from the CEO & Superintendent and Committee Members.

F.

Approval of Minutes from MPS Finance Committee Meeting- October 14, 2021

M. Muhammedov made a motion to approve the minutes from Finance Committee Meeting on 10-14-21.
S. Dikbas seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
S. Dikbas
Aye
M. Muhammedov
Aye

G.

Approval of Minutes from MPS Finance Committee Meeting- November 4, 2021

M. Muhammedov made a motion to approve the minutes from Finance Committee Meeting on 11-04-21.
S. Dikbas seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
M. Muhammedov
Aye
S. Dikbas
Aye

H.

Approval of Minutes from MPS Finance Committee Meeting- December 2, 2021

M. Muhammedov made a motion to approve the minutes from Finance Committee Meeting on 12-02-21.
S. Dikbas seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
S. Dikbas
Aye
M. Muhammedov
Aye

I.

Approval of Minutes from MPS Finance Committee Meeting- December 16, 2021

M. Muhammedov made a motion to approve the minutes from Finance Committee Meeting on 12-16-21.
S. Dikbas seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
S. Dikbas
Aye
M. Muhammedov
Aye

II. Recommended Action Item

A.

Committee Approval of Findings to Conduct Virtual Meetings Pursuant to AB 361/Government Code Section 54953

The Finance Committee discussed and reconsidered the circumstances of the State of Emergency related to COVID-19 in which meeting in person can directly impact the ability of the Board and public to meet safely. As such, local officials are still continuing to recommend measures to promote social distancing.

S. Dikbas made a motion to adopt the findings relating to the ability of the Magnolia Public Schools Finance Committee to conduct meetings due to teleconference during the State of Emergency, in reference to AB 361/Government Code Section 54953.
M. Muhammedov seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
S. Dikbas
Aye
M. Muhammedov
Aye

B.

Approval of 2020-21 Annual Audit Report

S.Budhraja, Chief Financial Officer, presented in detail the 2020-21 annual audit report for MPS. There were no reconciliations of fund balances. MPS was issued an unmodified opinion in which the financials were represented accurately. Entitlement money such as Title I, II, III was spent properly. There were no audit findings and internal controls that were recommended previously was implemented. Committee members questions were addressed by staff. 

M. Muhammedov made a motion to recommend to the Board for approval of the annual Independent Audit Report for the fiscal year 2020-21 of the consolidated audit covering all ten (10) schools and the Home Office.
S. Dikbas seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
M. Muhammedov
Aye
S. Dikbas
Aye

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 6:02 PM.

Respectfully Submitted,
S. Dikbas