Equitas Academy Charter School

Minutes

Finance Committee Meeting

Date and Time

Thursday May 27, 2021 at 12:00 PM

Location

Nadine Peters is inviting you to a scheduled Zoom meeting.
Topic: Finance Committee Meeting
Time: May 27, 2021 12:00 PM Pacific Time (US and Canada)
Join Zoom Meeting
https://equitasacademy.zoom.us/j/95907657415
Meeting ID: 959 0765 7415
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Meeting ID: 959 0765 7415
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

Pursuant to the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, any individual with a disability who requires reasonable accommodation to attend or participate in a meeting of the Board of Directors, may request assistance in advance of the meeting by contacting Equitas Academy Charter School at 1700 West Pico Boulevard, Los Angeles, CA 90015 or by phone (213) 201-0440.

Committee Members Present

A. Perez (remote), B. Snyder (remote), P. Reddy (remote)

Committee Members Absent

None

Guests Present

M. Ford (remote), S. Estilai (remote), S. Sobkov (remote)

I. Opening Items

A.

Record Attendance and Guests

B.

Call the Meeting to Order

P. Reddy called a meeting of the Finance Committee Committee of Equitas Academy Charter School to order on Thursday May 27, 2021 at 12:01 PM.

C.

Approve Minutes

B. Snyder made a motion to approve the minutes from Finance Committee Meeting on 04-22-21.
A. Perez seconded the motion.
The committee VOTED unanimously to approve the motion.

II. Public Comment

A.

Public Comment

There were no members of the public present so no comment was made

III. Finance Committee

A.

​​​​​​​Monthly Financial Update

A. Perez made a motion to approve the financials as presented.
B. Snyder seconded the motion.
Net Income is projected to be ahead of plan and the cash position is still at 88 days of cash on hand with healthy reserves.
The committee VOTED unanimously to approve the motion.

B.

FY 2021-2022 Budget

Mr Sobkov presented the draft budget - including the alignment with the guardrails, the May revision and the budget as it stands.

C.

CEO Compensation

The committee discuss their recommendation for CEO Compensation for 2021-2022.

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 1:15 PM.

Respectfully Submitted,
P. Reddy