This Meeting is being held in person, with remote participation by Kathryn Martinez (from Madison), Kerry Kelly, and Douglas DeJong.

Review of the Minutes of the Finance & Operations Committee Meeting - August 23, 2024

Douglas DeJong will report on the FY24 Financial Audit process with TKO.  

ORBA has issued its compliance report, finding that in its opinion, EMSA met its compliance obligations in FY24.  See attached Report.  The Committee may wish to recommend this Report be accepted by EMSA's Board of Directors.  

Both the Financial Audit and Compliance Audit are due to ISBE by Nov. 1st (through Epicenter).  

Douglas DeJong will discuss the September 30, 2024 interim financial report.  

Leadership will comment on FY25 fiscal performance management, engage in dialogue with Committee, which will be asked to weigh in on strategies presented.  

Staff will present a short analysis of newly available data on FY26 PCTC levels - Average Daily Attendance for U-46 & EMSA.

A calculation of the FY26 PCTC projection is attached ("FY26 PCTC Projection").  This projection is based on available information:  the U-46 interim financial statements of May 31, 2024; FRIS data on U-46 applications for federal approval of ESSER expenditure, and the offical FY23 Annual Financial Report of U-46 (also attached - see Tab PCTC-OEPP 37-39).

Dan Alexander will present a brief oral report.  

The next meeting of the Finance Committee is scheduled for 7:45am on  Tuesday, December 17th

The EMSA Finance & Operations Committee proposes a closed session to discuss specifically items enumerated below and in accordance with the Open Meetings Act which provides:

(c) Exceptions. A public body may hold closed meetings to consider the following subjects:

(1) The appointment, employment, compensation, discipline, performance, or dismissal of specific employees, specific individuals who serve as independent contractors in a park, recreational, or educational setting, and other items allowed under the Open Meetings Act.

        (2) The discussion of minutes of meeting lawfully closed under the Open Meeting Act, whether for purposes of approval by the body of the minutes or semi-annual review of the Minutes as mandated by Section 2.06. 5 ILCS 120/2(c)(21).

        (3) Litigation when the public body finds that an action is probable or imminent, in which case the basis for the finding shall be recorded and entered into the minutes of the closed meeting. 5 ILCS 120/(c)(11).