Pullman Community Montessori
Minutes
Finance Committee (FC)
Date and Time
Tuesday August 16, 2022 at 5:00 PM
Location
Keeping safety as our top priority, until further notice, all committee meeting will be conducted virtually over Zoom.
Committee Members Present
A. Guyton (remote), E. Jochim (remote), L. Sullivan
Committee Members Absent
C. Minogue, J. Cassleman
Guests Present
M. Paolini (remote)
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 Aug 16, 2022 at 5:00 PM.
C.
Pleasantry
D.
Approve Minutes
A. Guyton made a motion to approve the minutes from Finance Committee (FC) on 07-14-22.
E. Jochim seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Finance Committee (FC)
A.
Review & Approve July Financials
A. Guyton made a motion to recommend the board approve July Financials as presented.
The committee VOTED unanimously to approve the motion.
B.
Approve SY23 Budget
A. Guyton made a motion to approve the Year 1 budget as presented.
E. Jochim seconded the motion.
The committee VOTED unanimously to approve the motion.
C.
Approve Auditor
PCM has not received the final engagement letter from Eide Baily. The soft estimate is $18,000 which is $6,000 less than the other competitor. To not lose our spot with Eide Baily in the event the engagement letter comes between board meetings, the FC discussed suggesting the board approve the HOS signing the engagement letter as long as the cost does not exceed $25,000. Joule will review as well before the commitment is made.
A. Guyton made a motion to Eide Bailly as the year 1 audit firm if the engagement letter fees do not to exceed $25K.
E. Jochim seconded the motion.
The committee VOTED unanimously to approve the motion.
D.
Financial Policies Manual Updates
A. Guyton made a motion to approve changes to the FPPM as presented.
E. Jochim seconded the motion.
The committee VOTED unanimously to approve the motion.
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 6:15 PM.
Respectfully Submitted,
A. Guyton
Was an error in private revenue % on Dashboard that will be fixed.
HOS is slowly working through the 'missing' items list. Noted a number are reoccurring. Next step will be to address high cost items.