Springfield Prep
Minutes
Finance Committee Meeting
Date and Time
Wednesday December 28, 2016 at 12:00 PM
Location
370 Pine St.
This meeting of the Springfield Prep Charter School Finance Committee will be held at 370 Pine St. on 12/28/16 12 pm. Meeting notice was posted on the school's website (www.springfieldprep.org) on 12/23/16 at 5 pm.
Committee Members Present
B. Spirer, J. Brown, R. Olejarz
Committee Members Absent
L. Goncalves, M. Wagner
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
R. Olejarz called a meeting of the Finance Committee of Springfield Prep to order on Wednesday Dec 28, 2016 at 12:04 PM.
C.
Approve December Finance Committee Minutes
R. Olejarz made a motion to approve minutes from the Finance Committee Meeting on 12-07-16 Finance Committee Meeting on 12-07-16.
J. Brown seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Finance
A.
Review November Financials
The committee reviewed financial highlights. There were no major comments or concerns and it was noted that finances are stable and strong.
B.
Fiscal Policies and Procedures (FPP)
There was discussion about the appropriate level of Treasurer involvement, on a monthly and/or quarterly basis, and the extent to which the Treasurer should be reviewing the general ledger. Bill and Meghan will seek guidance form Lynne about this and report back to the Finance Committee in January. Regardless, the Committee will recommend approval of the FPP at the January 4 board meeting.
C.
Audit Proposoal
The committee discussed overall satisfaction with the auditor. Bill will contact AAF to discuss the rate and will report back to the committee next month.
D.
Finance Committee Goals and Responsibility Matrix
One item that the finance committee has not yet completed this year is a finance training. It was decided that it would integrate this training into the FY18 budget through a presentation on the key drivers of revenue and expenses for the budget.
E.
Approvals, as needed
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 12:47 PM.
Respectfully Submitted,
B. Spirer