Pullman Community Montessori

Minutes

Finance Committee (FC)

Date and Time

Tuesday June 15, 2021 at 5:00 PM

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!

Committee Members Present

A. Guyton (remote), C. Minogue, L. Sullivan (remote)

Committee Members Absent

J. Cassleman

Committee Members who arrived after the meeting opened

C. Minogue

I. Opening Items

A.

Record Attendance

B.

Call the Meeting to Order

A. Guyton called a meeting of the Finance Committee Committee of Pullman Community Montessori to order on Tuesday Jun 15, 2021 at 5:04 PM.

C.

Pleasantry

D.

Approve Minutes

A. Guyton made a motion to approve the minutes from Finance Committee (FC) on 05-18-21.
L. Sullivan seconded the motion.
The committee VOTED unanimously to approve the motion.

II. Finance Committee (FC)

A.

Review & Approve May Financials

C. Minogue arrived at 5:11 PM.
Forecast vs Actual: Noted 'increase' of private revenue is really advance on WA Charters 2021-22 funding. Advances $200K to help with startup schools cash flow. Makes year 1 net income look different but there has really not been a change (increase or decrease) in funding.

Profit and Loss: Classroom materials are higher becuase 90-day window opened for CSP spending.

Focus on cash balance....that is most important!

Laylah provided enrollment update and Early Entrance Kindergarten prospect update.

Action Item: Carmel will look up non-profit interpretation of grant advance.

B.

Apportionment (F203) Projections

Matt provided F203 overview.

Provided intro to prototypical funding formula.

C.

Intro to Annual Budget (F195)

Reviewed timeline.

Intent is to intro board so they have time to ask questions or attend the July FC and August FC meeting to ask questions before fixing and approving budget at the August meeting.

Reviewed proposed presentation and FC recommended places to clarify.

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 6:06 PM.

Respectfully Submitted,
A. Guyton