Elgin Math & Science Academy
Minutes
Finance Committee Meeting--Remote
Date and Time
Tuesday May 11, 2021 at 8:00 AM
Location
Meeting ID: 956 9377 5063
Passcode: EMSA
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Passcode: EMSA
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Meeting ID: 956 9377 5063
Passcode: 705920
+1 312 626 6799 US (Chicago)
+1 929 205 6099 US (New York)
+1 301 715 8592 US (Washington DC)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
+1 669 900 6833 US (San Jose)
Meeting ID: 956 9377 5063
Passcode: 705920
Committee Members Present
A. Gray (remote), D. Alexander (remote), K. Kelly (remote), K. Rauschenberger (remote), L. Fuhr (remote), S. Egger (remote)
Committee Members Absent
C. Egger, M. Gibb
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
D. Alexander called a meeting of the Finance Committee of Elgin Math & Science Academy to order on Tuesday May 11, 2021 at 8:04 AM.
C.
Approve Minutes
D.
Approve Minutes
II. Interim Financial Statements, General COO Report
A.
Review of Monthly Financial Statements
B.
General COO Report
III. CONSTRUCTION and FINANCING
A.
Middle School Project: COO Report
D Alexander reported that the construction project remains under budget and on time. He predicts that over $200K will return to EMSA which will boost our cash position in the fall.
IV. Other Business
A.
Next meeting(s)
There will be a special meeting on May 18 at 8 a.m. to focus on the FY22 budget.
V. 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 8:50 AM.
Respectfully Submitted,
K. Kelly
Documents used during the meeting
- EMSA April 2021 Financials V2 JE SE.xlsx
- COO Report to Board.5.10.21.docx
Committee will inquire with ISBE re modification of final report which had negative finding related to EMSA's cash flow and days cash on hand. S Egger believes that these were based upon timing issues related to construction draws and can be explained satisfactorily.