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
| I. | Opening Items | |
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Opening Items
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| A. | Record Attendance and Guests | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes | |
| II. | Finance | |
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Finance
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| A. | CFO Report and Review of Monthly Financial Statements | |
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For all meetings:
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| B. | Review and Approval of Financial Policies | |
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Ongoing review/changes of EMSA's Financial Policies and Procedures. Vote to approve changes, when applicable. |
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| C. | Strategic Plan / Master Plan / Debt | |
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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 |
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| D. | Development, Reserve Fund, New Grants, Debt Reduction Plans | |
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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 |
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| III. | Other Business | |
| A. | Treasurer's Comments | |
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Opportunity for Treasurer to make summary comments on topics discussed or to provide strategic direction on future Finance Committee activities. |
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| B. | Illinois Charter School Commission | |
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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.
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| IV. | Closing Items | |
| A. | Adjourn Meeting | |