Final

Elgin Math & Science Academy

Finance & Operations Committee

Date and Time

Friday April 5, 2024 at 7:45 AM CDT

Location

Admin Building 

Agenda

      Purpose Presenter Time
I. Opening Items 7:45 AM
 
Opening Items
 
  A. Record Attendance and Guests Discuss Dan Alexander 1 m
  B. Call the Meeting to Order Discuss Adam Gray 1 m
   

This Meeting is being held in person.

  
  C. Approved Minutes of the February 23 2024 Meeting of the Finance & Operations Committee Approve Minutes Dan Alexander 3 m
II. Financial Report 7:50 AM
  A. Recommendation that Board approve Line of Credit Resolution Vote Dan Alexander 5 m
   

Suggestion for Resolution to recommend be adopted by the Board of Directors at its April 28, 2024 Meeting:

 

"Resolved, that the Board of Directors authorize the Chief Strategy Officer, Chief Operating Officer to execute any and all documents necessary for the establishment of a $250,000 Line of Credit with First Mid Bank."    

  
  B. February 29, 2024 Interim Financial Report Discuss Douglas DeJong 20 m
  C. Review reprojections of FY25-29 PCTC revenue and expenses Discuss Dan Alexander 40 m
   

Review the current projection of revenue and expense for FY25-29.  

 

This reprojection follows the Model presented at the Special Finance Committee Meeting of March 11, 2024 to reproject based upon the revised projection of FY25 PCTC funding, from the APR report released by U-46 in late February.  

 

There will be additional discussion of the Five Year Financial Model incorporating the latest information available, with respect to FY24 fiscal performance, and future general transportation revenue and expense.

 

 

 

 

  
III. Other Business 8:55 AM
  A. Next meeting(s) Discuss Dan Alexander 1 m
   

The next, regular Meeting of the Finance & Operations Committee will be on Friday April 19th in person in the Admin Building.  

  
IV. Closing Items 8:56 AM
  A. Adjourn Meeting Discuss Adam Gray 1 m