Final

Elgin Math & Science Academy

Finance Committee Meeting

Date and Time

Tuesday December 8, 2020 at 8:00 AM CST

Location

Remote Meeting on Google Meets

Agenda

     
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 11/30/20
  2. Budget Variance at 11/30/20
  3. Monthly Cash Flow Report at 11/30/20
  4. Weekly Cash Flow Report for W/E 12/6/20
  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 12/8/20 Meeting:

1. Update on EMSA Acquisition of Leased Property from the City of Elgin
2. Master Plan Update; status of financing
 
  D. Development, Reserve Funds, New Grants
   

1. Status update on Development Committee activities
2.  Balance Sheet Account set-up for IFF loan "sinking fund" being funded
3. Update on reserve funds; cost allocation out of Master Plan Reserve Fund (landscape, attorney fees, D Alexander, Admin roof)
 
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