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Pullman Community Montessori

Finance Committee (FC)

Date and Time

Tuesday November 16, 2021 at 5:00 PM PST

Location

Keeping safety as our top priority, until further notice, all committee meeting will be conducted virtually over Zoom.
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
  B. Call the Meeting to Order
   
'Grounding Questions' for the FC:
  • 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).
REMINDERS
During the planning year (now to August 18, 2021), these are some overarching items that each FC member should be thinking about:
  • How are our draft fiscal policies and procedures coming along?
  • How are we tracking to budget overall?
  • How is our cash balance and will we be able to meet our short term cash needs?
  • How is enrollment doing?
  C. Pleasantry
   
We will continue to build trust amongst this team. We will work little by little to do this! One small way though will be to get to know each other more. 

Primer Question:
Describe a snapshot of an ordinary moment in your life that brings you joy.
  D. Approve Minutes
   
Please review the prior meeting minutes in advance and come to the meeting with any amendments in writing that can be added to the Zoom chat.  This makes recording changes quick and easy.
    Minutes for Finance Committee (FC) on July 20, 2021
  E. Approve Minutes
    Minutes for Finance Committee (FC) on August 17, 2021
  F. Approve Minutes
    Minutes for Finance Committee (FC) on October 19, 2021
II. Finance Committee (FC)
  A. Auditing Officer Recommendation
   
   
  B. Approve September Financials
   
Approve the changes/edits to the September Financials
   
   
   
   
  C. Review & Approve October Financials
   
During this piece of the meeting, Matt and Laylah will share what the FC Committee should be "looking for' in order to build those habits and mindsets.

Please review the school financials below prior to the meeting. Please try to ask questions to Matt or Laylah in advance so we are prepared to vote at the meeting.
  1. Dashboard (high level view of main metrics)
  2. Balance Sheet
  3. Profit & Loss Statement/Income Statement
  4. Budget vs. Actual Report & Forecast vs Actual Report
  5. Statement of Cash Flows
  6. Payroll and AP Certification
   
   
   
   
   
   
   
   
  D. Finance Committee Goals
   
1. Reflect on Goals from last year:
  • Finalize PCM Finanical Policies and Procedure Manual (DONE)
  • Review auditor options and provide rec for an auditor year 1 (Due Jan 31, 2022)
What allowed us complete the goals? What work still needs to happen?

 

2. Review Board goals
How do we see the Finance Committee supporting these goals?

 

3. Our committee goals:
What are our key milestones this year?
By when does this goal need to be achieved? 
When do we need to vote on it? 

 

4. Action: Put goals into BoardOnTrack
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