Elgin Math & Science Academy
Finance & Operations Committee
Date and Time
Location
Administration Building, Principals Office
Agenda
| Purpose | Presenter | Time | |||
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| I. | Opening Items | 7:45 AM | |||
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Opening Items
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| A. | Record Attendance and Guests | Discuss | Dan Alexander | 1 m | |
| B. | Call the Meeting to Order | Discuss | Adam Gray | 1 m | |
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This Meeting is being held in person. |
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| II. | Financial Report | 7:47 AM | |||
| A. | Review reprojections of FY25-29 PCTC revenue | Discuss | Dan Alexander | 20 m | |
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Review the current projection for FY25 PCTC revenue, and for FY26-29.
Attached:
1. Detail of FY23 U-46 spending (Annual Financial Report - not final, must be reviewed/approved by ISBE) 2. Calculation of FY25 EMSA PCTC revenue figure (still unofficial)
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| B. | Reworked Presentation of Draft FY25 Budget and Five-Year Financial Model | Discuss | Dan Alexander, Ron Manderchied, Douglas DeJong | 60 m | |
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This draft FY25 budget has been reworked in light of newly available information about FY25 PCTC rate, to:
1. Continue to educate all EMSA students with no reduction in staff, or change to tenured teachers, or reductions in salary or benefits, or lessening of programs offered to parents/students. 2. Achieve EMSA's bond covenant obligations, and the ISBE metric of 60 Days Cash On Hand, year-end, every year. 3. Create sustainable workload for administration and staff, and set EMSA up for academic success. 4. Defer expenditure, whether of expense or capital investment. 5. Maintain conservative projections of PCTC revenue based on best, currently available information.
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| III. | Other Business | 9:07 AM | |||
| A. | Next meeting(s) | Vote | Dan Alexander | 1 m | |
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The next, regular Meeting of the Finance & Operations Committee will be on Thursday March 21st in person in the Admin Building. |
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| IV. | Closing Items | 9:08 AM | |||
| A. | Adjourn Meeting | Vote | Adam Gray | 1 m | |