Elgin Math & Science Academy
Finance Committee Meeting
Date and Time
Location
Admin Building
1600 Dundee Avenue
Elgin, IL 60120
Agenda
Purpose | Presenter | Time | |||
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I. | Opening Items | 7:45 AM | |||
Opening Items
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A. | Record Attendance and Guests | Discuss | Paul Stagen | 1 m | |
B. | Call the Meeting to Order | Discuss | Paul Stagen | 1 m | |
C. | Meeting Minutes - May 23, 2025 | Approve Minutes | Paul Stagen | 3 m | |
Review of the Minutes of the Finance & Operations Committee Meeting - May 23, 2025 |
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II. | Financial Report | 7:50 AM | |||
A. | Review of May 2025 Interim Financial Statements | Discuss | Natalia Walters | 25 m | |
Natalia will discuss the May interim financial report.
Leadership will comment on FY25 fiscal performance management, engage in dialogue with Committee, which will be asked to weigh in on strategies presented.
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III. | FY26 Budget | 8:15 AM | |||
A. | Review FY26 Budget | Discuss | Kathryn Martinez | 30 m | |
Leadership will present the FY26 budget and discuss the impact of cost saving strategies, as well as share how EMSA is addressing the loss of revenue due to transportation funding being revoked |
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IV. | Other Business | 8:45 AM | |||
A. | Next meeting(s) | Discuss | Paul Stagen | 2 m | |
The next meeting of the Finance Committee is scheduled for June 20, 2025 at 7:45 am. |
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B. | Motion to Enter Executive Session | Vote | Paul Stagen | 2 m | |
The EMSA Finance & Operations Committee proposes a closed session to discuss specifically items enumerated below and in accordance with the Open Meetings Act which provides: (c) Exceptions. A public body may hold closed meetings to consider the following subjects: (1) The appointment, employment, compensation, discipline, performance, or dismissal of specific employees, specific individuals who serve as independent contractors in a park, recreational, or educational setting, and other items allowed under the Open Meetings Act. (2) The discussion of minutes of meeting lawfully closed under the Open Meeting Act, whether for purposes of approval by the body of the minutes or semi-annual review of the Minutes as mandated by Section 2.06. 5 ILCS 120/2(c)(21). (3) Litigation when the public body finds that an action is probable or imminent, in which case the basis for the finding shall be recorded and entered into the minutes of the closed meeting. 5 ILCS 120/(c)(11).
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C. | Executive Session | Discuss | Group | 15 m | |
D. | Motion to Exit Executive Session | Vote | Paul Stagen | 2 m | |
V. | Closing Items | 9:06 AM | |||
A. | Adjourn Meeting | Discuss | Paul Stagen | 1 m |