Elgin Math & Science Academy
Special Finance Committee Meeting
Date and Time
Tuesday May 18, 2021 at 8:00 AM CDT
Agenda
| Purpose | Presenter | Time | |||
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| I. | Opening Items | 8:00 AM | |||
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Opening Items
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| A. | Record Attendance and Guests | Discuss | Adam Gray | 1 m | |
| B. | Call the Meeting to Order | Discuss | Adam Gray | 1 m | |
| C. | Approve Minutes | Approve Minutes | Adam Gray | 1 m | |
| D. | Approve Minutes | Approve Minutes | Adam Gray | 1 m | |
| II. | Interim Financial Statements, General COO Report | 8:04 AM | |||
| A. | Review of Monthly Financial Statements | Discuss | Shanan Egger | 2 m | |
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Review of April 30, 2021 Financial Reports.
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| B. | General COO Report | Discuss | Dan Alexander | 2 m | |
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Areas of concentration for COO with financial implications for FY21 Budget, and/or Gym Middle School Capital Project
1. Budget Process timeline
4/19 - EAB Internal Preparation: Shanan, Tina, Douglas
4/26 - Shanan, Lezlie, Dan
5/3 - Shanan, Tina, Lezlie, Dan, Kerry, others as needed
5/18 - Draft 1 WIP - Finance Committee, incorporate changes
5/20 - Draft 2 WIP - post Finance Committee review w/Board, incorporate Board changes post presentation
6/14 - Draft 3 WIP - incorporate Board direction, review with FC, FC recommends to Board
6/17 - Final review by Board
2. Resolution of FICA errors by previous CFO.
3. PPP Update.
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| III. | FY22 Draft Budget Presentation and Review | 8:08 AM | |||
| A. | FY22 Draft Budget Presentation | Discuss | Shanan Egger | 90 m | |
| IV. | CONSTRUCTION and FINANCING | 9:38 AM | |||
| A. | Middle School Project: COO Report | Discuss | Dan Alexander | 2 m | |
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Construction is on schedule and continues to track well under budget for defined scope of Gym Project plus Warm, Safe, and Dry.
See attached COO Report, Budget Tracking Report.
Neil Building roof repairs to be removed from (financed) capital budget pending resolution of Dining Hall Scope of work for Warm, Safe, and Dry. Neil Building intercom, Art Barn sewer connection still included in (financed) capital budget.
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| V. | TRACKING ITEMS | 9:40 AM | |||
| A. | Enrollment, FRL, English Learners, Special Ed Numbers | FYI | Lezlie Fuhr | 1 m | |
| B. | Financial Policies | Discuss | Keith Rauschenberger & EAB | 1 m | |
| C. | Finance Committee Goals | Discuss | Kerry Kelly | 1 m | |
| VI. | Other Business | 9:43 AM | |||
| A. | Next meeting(s) | Discuss | Kerry Kelly | 2 m | |
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The next meeting of the Finance Committee will be held on Tuesday, June 8th. Another Special Meeting of the Finance Committee will be held on Tuesday, June 15th.
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| VII. | Closing Items | 9:45 AM | |||
| A. | Adjourn Meeting | Vote | Adam Gray | 1 m | |