Ethos Classical Charter School
Minutes
Monthly Finance Committee Meeting
Date and Time
Tuesday November 21, 2023 at 5:00 PM
Location
Danielle Mack is inviting you to a scheduled Zoom meeting.
Topic: Finance Committee Meeting NEW UPDATE Time:
This is a recurring meeting
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Committee Members Present
B. Hines (remote), M. Moore (remote)
Committee Members Absent
J. Boyd
Guests Present
Cameron Quick (remote), D. Mack (remote), Peter Laub (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
II. Facilities
A.
Building & Facilities Report
III. Finance
A.
Financial Update
Introduced Peter Laub of Ed Tec, stepping in for Dan Cembrola who is rolling off the Ed Tec team. Interim will be joining us early in calendar 2024.
B. Hines walked the committee through the financial report, provided by D. Cembrola in advance (who could not attend to the meeting due to travel).
- Revenue currently projected to be favorable to budget by $117k, driven by the after care program and clubs.
- Expense currently projected to be unfavorable to budget by $567, some of which are the costs related to the after care program and clubs. This is approximately $150k more than reported last month.
- Overall, appear to be unfavorable by $282k; there is work to be done to close this gap. B. Hines and D. Mack will be reviewing and seeking opportunities for closure. Currently still projecting to end the year with more than 60 days of cash on hand.
- Discussed presentation of expenses and format of the report
B.
Monthly Credit Card Review (September)
Discussed oversight process with P. Lauber.
IV. Other Business.
A.
Committee Membership and Leadership
No other business.
C. Quick reviewed the construction budget with the Committee.