Final

Elgin Math & Science Academy

EMSA Finance Committee Meeting

Date and Time

Tuesday October 8, 2019 at 8:00 AM CDT

Location

EMSA Conference Room, 1600 Dundee Ave, Elgin

Agenda

Section Number Topic Number Details
I. Opening Items
 
Opening Items
  A. Record Attendance and Guests
  B. Call the Meeting to Order
  C. Approve Minutes
II. Finance
 
Finance
  A. CFO Report and Review of Monthly Financial Statements
   

For all meetings: 
  1. Balance Sheet
  2. Budget Variance
  3. Cash Flow Report
  4. 990 & other tax filing requirements status (if applicable)
  5. 2019-20 Proposed Operating Budget Changes (if applicable)
  6. 2019-20 Proposed Capital Budget Changes (if applicable)
  7. FY2019 Audit Status
  B. Review and Approval of Financial Policies
   

Ongoing review/changes of EMSA's Financial Policies and Procedures.  Vote to approve changes, when applicable.
  C. EMSA Five-Year Budget / Strategic Plan / Master Plan Debt Status
   
Review proposed changes to Five-Year Budget/Strategic Plan; Review/discuss debt options to fund Master Plan and, if applicable, determine what courses of action will require Board approval upon which to be voted.
  D. Development, Reserve Fund, New Grants, Minimize/Reduce Debt
   
Status update on Development Committee activities; creation and growth of a Reserve Fund; new grant opportunities, options to reduce existing debt or to minimize new debt to be incurred with respect to Master Plan requirements.
III. Other Business
  A. Treasurer's Comments
   

Opportunity for Treasurer to make summary comments on topics discussed or to provide strategic direction on future Finance Committee activities.
IV. Closing Items
  A. Adjourn Meeting