Equitas Academy Charter School
Minutes
Finance Committee Meeting
Date and Time
Wednesday September 22, 2021 at 4:30 PM
Location
Nadine Peters is inviting you to a scheduled Zoom meeting.
Topic: Finance Committee Meeting
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https://equitasacademy.zoom.us/j/98480959694
Meeting ID: 984 8095 9694
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Meeting ID: 984 8095 9694
Topic: Finance Committee Meeting
Join Zoom Meeting
https://equitasacademy.zoom.us/j/98480959694
Meeting ID: 984 8095 9694
One tap mobile
+12532158782,,98480959694# US (Tacoma)
+13462487799,,98480959694# US (Houston)
Dial by your location
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
+1 669 900 6833 US (San Jose)
+1 312 626 6799 US (Chicago)
+1 929 205 6099 US (New York)
+1 301 715 8592 US (Washington DC)
Meeting ID: 984 8095 9694
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.
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
B. Snyder (remote), M. Ford, P. Reddy (remote)
Committee Members Absent
A. Perez
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 Wednesday Sep 22, 2021 at 4:33 PM.
C.
Approve Minutes
B. Snyder made a motion to approve the minutes from Finance Committee Meeting on 05-27-21.
P. Reddy seconded the motion.
The committee VOTED to approve the motion.
II. Public Comment
A.
Public Comment
There were no members of the public and no comment was made.
III. Finance Committee
A.
Review of Financials
- Mr. Sobkov presented the financial for July and August. noting a revenue decline of ~$1.8 M due to enrollment and ADA declines.
- Expenses are cut at ~ $990K
- For a total impact of- $880K
- The Organization as a whole is still positive net income
B.
Review of 2021-2022 Budget
Discussed mitigating the impact of the ADA this would include PPP loan forgiveness, One Time Funds acceleration and expense containment.
C.
Committee job description, goals. priorities, and scope & sequence
Discussed the process to adjust the description will work with Governance Committee to adjust based on current conditions.
The Committee discussed their priorities for the year and scope and sequence.
The Committee discussed their priorities for the year and scope and sequence.
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 6:30 PM.
Respectfully Submitted,
P. Reddy
Documents used during the meeting
- 21-22 Equitas August Financial Packet.pdf
- 21-22 American Express Transactions July and August.pdf
- Equitas Finance Committee Job Description.pdf
- DRAFT Equitas FY22 Finance Committee Priorities.pdf
- DRAFT Equitas FY22 Finance Cmte Scope & Sequence.pdf