Lighthouse Community Public Schools
Minutes
Finance Committee Meeting
Date and Time
Wednesday March 30, 2022 at 4:30 PM
Location
Join Zoom Meeting
https://lighthousecharter-org.zoom.us/j/84322605337?pwd=QWM1RHB3aFhacGZKTmt2d1NTVmVNQT09
Meeting ID: 843 2260 5337
Passcode: 590330
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Meeting ID: 843 2260 5337
Passcode: 590330
Find your local number: https://lighthousecharter-org.zoom.us/u/kdGQP8gqP7
Committee Members Present
A. Moore (remote), A. Ocegueda (remote), M. Milner (remote)
Committee Members Absent
None
Guests Present
Aron Kidane (remote), L. Wu (remote), R. Harrison (remote), R. Torney (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Public Comment
II. Recurring Financial Discussion Items
A.
Goals: today & upcoming meetings
Linda Wu presented the goals for the Finance Committee Meeting, including updates and deadlines for upcoming meetings.
B.
2012-22 Enrollment Update and 2022-23 Projections
Robbie Torney presented an update on where LCPS is in Enrollment for 22-23.
C.
Budget Development Update for the 2022-23 school year
Linda Wu presented updates and next steps on budget development for FY23, including progress on the shift towards a full accrual process.
D.
YTD Income Statement and Cash Flows Review
Linda Wu presented an update on progress on Enrollment and ADA since the last interim budget. The committee discussed fiscal impact of changes in ADA. The committee discussed the impact of ADA generated during P1, P2, and PA.
E.
Approval of Increased Line of Credit
The committee discussed to need to increase the LCPS Line of Credit.
F.
Special Education Budget Update for 22-23 SY
Robbie Torney and Linda Wu presented an overview of SPED spending in FY21, FY22, and projections for FY23. The committee discussed the relationship between SPED spending and planned SPED programming for FY23.
G.
Charter School and CMO Budget Comparisons (for June BOD meeting)
Rich Harrison shared an update on plans for how the LCPS Budget compares to other Bay Area CMO Budgets. The Committee shared feedback on the type of analysis that would be helpful for the Committee and the Board.
III. Recurring Consent Items
A.
Check Registry
The Committee had no questions or discussion on the check register.
Seeing none and hearing none, the committee closed public comment.