Elgin Math & Science Academy
Minutes
Finance Committee Meeting
Date and Time
Friday May 23, 2025 at 7:45 AM
Location
Admin Building
1600 Dundee Avenue
Elgin, IL 60120
Committee Members Present
K. Kelly (remote), N. Walters (remote), P. Stagen (remote), S. Bennett (remote)
Committee Members Absent
A. Scimeca
Guests Present
K. Martinez (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
P. Stagen called a meeting of the Finance Committee of Elgin Math & Science Academy to order on Friday May 23, 2025 at 7:50 AM.
C.
Meeting Minutes - April 28, 2025
S. Bennett made a motion to approve the minutes from Finance Committee Meeting on 04-28-25.
K. Kelly seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Financial Report
A.
Review of April 2025 Interim Financial Statements
III. FY26 Budget
A.
Review Draft of FY26 Budget
K Martinez took the Committee through the draft FY26 budget line by line. Discussion ensued.
IV. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:21 AM.
Respectfully Submitted,
K. Kelly
N Walters reviewed the new Notes to Financial Statements from our auditors. Discussed impacts, reporting requirements, what our bonds consultant recommends, etc. N Walters then walked the committee through April's financials. Discussion ensued.