Elgin Math & Science Academy

Finance Committee Meeting

Date and Time

Tuesday January 14, 2020 at 8:00 AM CST

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
  B. Review and Approval of Financial Policies
   

Ongoing review/changes of EMSA's Financial Policies and Procedures.  Vote to approve changes, when applicable.

  C. Strategic Plan / Master Plan / Debt
   
Review changes to EMSA Strategic Plan and/or Master 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.

For 1/14/20 Meeting:

1. Analysis of Master Plan Pre-construction Phase Project to Date Costs
2. Analysis of debt options:
    - Bonds (Ziegler)
    - IFF loan and collateral requirements
    - Walton Foundation (loans and bonds)
    - Leaseback 
    - Other
3. Development - What is realistic?
4. Debt/Bond recommendation to Master Planning Committee and Board
  D. Development, Reserve Fund, New Grants, Debt Reduction Plans
   

1. Status update on the hiring of a Capacity Builder
2. Development Committee activities
3. Creation/growth of a Reserve Fund
4. New grant opportunities
5. Short & long term debt reduction plans
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.

  B. Illinois Charter School Commission
   
Amendments to EMSA's Charter Agreement to be drafted and submitted. Does Finance Committee want to review or some other committee to review before submission?  Set completion/submission date.
IV. Closing Items
  A. Adjourn Meeting