'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).

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.

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
7. Review Financial Dashboard to ensure meeting commission standards (mark goal as complete once reviewed)
8. Financial Framework Condensed Tracker

Review questions to ensure we are prepared for the meeting with the commission. 

Questions to consider:

1. Are there any additional expenses being added to the revised budget that were not accounted for?

2. What is the financial impact of the levy funding?

3. What was the impact on the transportation funding update?

4. Are there any expenses we can limit/cut?

5. Are there any classrooms that do not have the 1 IA and 1 guide model?

The FC will review and discuss the 5-year budget scenarios.  If the scenarios are ready they will be recommend to be presented to the Board of Trustees.

APPROVED goals for SY22-23

COMPLETE Complete first audit.

COMPLETE Address and fix any feedback from audit.

ONGOING/Completed Process Provide monthly Private Funding Updates to the Board

COMPLETED 1x: Prepare and discuss scenarios regarding funding and enrollment to present to Board 2x this year

Recruit 2 new committee members

Board Staff Financial Contract

50+ Smart Questions to Ask About Your Schools Finances
 

PCM Logic Model (10,000 foot view)