Finance Committee Meeting Minutes

June 8, 2023, 4:30-6:00 PM

Minutes Approved

Equitas Academy Charter School

Minutes

Finance Committee Meeting

Date and Time

Thursday June 8, 2023 at 4:30 PM

Location

1612 W Pico Blvd, Los Angeles, CA 90015

Additional call-in locations:

3943 Pine Ave, Long Beach, CA 90807

3731 W 227th St, Torrance, CA 90505

11100 Santa Monica Blvd, Los Angeles CA 90025

Topic: Finance Committee Meeting
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https://equitasacademy.zoom.us/j/82806058353

Meeting ID: 828 0605 8353
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Meeting ID: 828 0605 8353

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. Verma, B. Snyder (remote), P. Reddy (remote), T. Hollenberg (remote)

Committee Members Absent

R. Lewis

Guests Present

Antonio Gonzalez (remote), C. Melgares, G. Ottinger (remote), J. Rudolph, K. Farrar, S. Pacheco, S. Roditti, Sepideh Pahlevani, (remote), Slav Sobkov (remote), Y. Chiquito

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 Jun 8, 2023 at 4:33 PM.

C. Approve Minutes

P. Reddy made a motion to approve the minutes from Finance Committee Meeting on 04-13-23.

T. Hollenberg seconded the motion.

The committee VOTED to approve the motion.

Roll Call
B. Badillo	Absent
P. Reddy	Aye
R. Lewis	Absent
B. Snyder	Abstain
A. Verma	Aye

II. Public Comment

A. Public Comment

No members of the public wished to comment at this meeting.

III. Finance Committee

A. FY23 & FY24 Priorities

The committee chairperson led review and discussion about potential committee goals to recommend to the board for the '23-'24 year.

B. Year-to-Date Financials

The MD of Finance led an overview of EOY Financial Analysis and current trends; committee members discussed these factors.

C. Local Control and Accountability Plan (LCAP) Funding for '23-'24

Committee discussed that the current development of the six Equitas Local Control and Accountability Plans and related financial analysis. This will be shared with the Equitas Board during a public hearing on June 14, 2023.

D. FY24 Annual Budget, Enrollment Plan & Long-Term Financial Plan

Staff provided analysis about the FY '24 Annual Budget projections. Finance Committee members discussed variables and potential strategies for consideration. Enrollment projections were a part of the overall analysis. The Finance Committee offered support for recommendation of the budget to the board for approval at the June meeting.

E. Real Estate

Staff and guest Antonio Gonzalez discussed the opportunity to purchase a possible real estate site.

F. Bank Strategy

Staff shared insights with the committee related to opportunities as part of possible strategic changes in banking partners. Committee members asked strategic questions and offered insights related to the considerations.

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 6:02 PM.

Respectfully Submitted,

P. Reddy