Finance Committee (FC) Meeting Agenda

January 21, 2021, 5:00-6:00 PM

Agenda Packet

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Pullman Community Montessori

Finance Committee (FC) Meeting

Focus - PCM Financial Policies & Procedures Manual

Date and Time

Thursday January 21, 2021 at 5:00 PM PST

Location

Join Zoom Meeting

https://us02web.zoom.us/j/86829604822?pwd=Z2ZBVTNDbVZNZFNlNXpwbW4yUXlrZz09

Meeting ID: 868-2960-4822

Password: 9046

PCM's Mission: to prepare all students to reach their full potential for future success in high school, college, career, and life, using the rich resources of our community.

PCM's Vision: to serve as an instrument of change, helping to progress our education system to better meet the needs of students, families, and educators. We nurture students to be self-empowered lifelong learners, global citizens, environmental stewards, and compassionate and collaborative leaders, bringing positive changes to their communities and the world!

Agenda


I.	Opening Items
	A.	Record Attendance
		Grounding questions for the Finance Committee. Do we believe that our internal policies and procedures are being followed? What is our current cash balance, and is management confident in the organization's ability to meet short term cash needs? How are our actuals to budget performing for this fiscal year? If there have been material unfavorable variances, in expenses or revenues, what is being done to mitigate this? How are our "big projects" going? (ex: facilities, enrollment drives, hiring, etc).
	B.	Call the Meeting to Order

II.	Finance Committee (FC)
	A.	Financial Policies & Procedures Manual
		As part of the FC, one of our responsibilities is to ensure that PCM has proper internal controls in place and that those internal controls are followed. How can you do this without being on site or reviewing every transaction? By putting your Head of School (HOS) in charge of said policies and reviewing them yearly, and ultimately hiring an auditor to review management's implementation of internal controls! As part of the application process, PCM has developed a Finance Policies & Procedures Manual (FPPM) which is quite long and detailed. This was adopted as our draft policy when the application was submitted for review. The draft manual is a solid document that has been cross walked with other Washington charter school manuals and has been reviewed by Joule. We can continue to refine this document but we need to adopt a base now. To this end we have identified sections for which PCM management believes to be the higher risk sections of the document where we would appreciate your feedback. If you want to read the whole thing, we're sharing that as well. The sections to focus on before we consider adopting are highlighted in yellow (they also include a rationale as to why they need need our focus). My hope is that we can come to consensus on the details of these sections so we can recommend the board adopt this Financial Policies & Procedures Manual.
III.	Other Business
IV.	Closing Items
	A.	Adjourn Meeting

Grounding Docs: FC Description & Responsibilities , Norms-We are LEADERS too-Structure and Responsibilities Overview, Bylaws (read committees section), PCM Logic Model, Org Charts

School Wide Evaluation Tools (model fidelity): EEMPS Rubric, School-Wide Reflective Practice Inventory

Resources: Planning Yr Financials Considerations, Example Dashboard Review, Contract, Commission Financial Performance Framework