Final

Elgin Math & Science Academy

Finance Committee Meeting

Date and Time

Tuesday October 13, 2020 at 8:00 AM CDT

Location

Remote Meeting on Google Meets: https://meet.google.com/yiz-gxja-yvh

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
  A. Review of Monthly Financial Statements
   
For all meetings: 
  1. Balance Sheet at 9/30/20
  2. Budget Variance at 9/30/20
  3. Monthly Cash Flow Report at 9/30/20
  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 10/13/20 Meeting:

1. Update on EMSA Acquisition of Leased Property from the City of Elgin
2. Finance Committee Begins Process of Master Plan Continuation (property transfer, debt options, "battle plan" to go forward)
3. Update on options to house 6th grade next year; costs, planning, scheduling
 
  D. Development, Reserve Funds, New Grants
   

1. Status update on Development Committee activities
2. Development Committee priorities (Gym, Admin Bldg, operations, debt, etc.) to be determined 
3. New Money Market Reserve Fund Set Up for Master Planning Future Costs (completed)
4. Results of research on bus transportation reimbursement options for EMSA (submitting reimbursement request)
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