Equitas Academy Charter School
Minutes
Finance Committee Meeting
Date and Time
Tuesday October 23, 2018 at 12:00 PM
Location
2723 W. 8th Street, Los Angeles, CA 90005
PUBLIC COMMENT AT EQUITAS ACADEMY BOARD MEETINGS – An opportunity for the public to address the Board will be provided at the conclusion of the agenda. Members of the public who wish to speak on any item are requested to identify themselves and indicate on which agenda item they wish to speak. The Board will provide an opportunity for the public to speak for a maximum of three (3) minutes, unless granted additional time at the discretion of the Board. Testimony shall be limited in content to matters pertaining to Equitas Academy. The Board may not take any action on matters discussed during the public testimony period that are not listed on the agenda. Brown Act Compliance: Agenda posted at School
Committee Members Present
A. Sowrirajan (remote), B. Snyder (remote)
Committee Members Absent
J. Cruz
Guests Present
M. Ford
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
A. Sowrirajan called a meeting of the Finance Committee Committee of Equitas Academy Charter School to order on Tuesday Oct 23, 2018 at 12:04 PM.
C.
Approve Minutes
A. Sowriagan made a motion to approve the minutes Brett Snyder second.
A. Sowrirajan made a motion to approve minutes from the Finance Committee Meeting on 05-30-18 Finance Committee Meeting on 05-30-18.
B. Snyder seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Finance
A.
Increase PWB Line of Credit
PWB would need to make the loan subordinate to the bond. We need to let the line of credit expire and then seek another source for the line of credit that is subordinate to the bond. This is a catalyst to shop the market. The LOC expires on the 31st so no fee.
B.
Review of September Financials
Samira Estilai presented the financials for September by school and overall as an organization.
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 1:02 PM.
Respectfully Submitted,
M. Ford