Elgin Math & Science Academy
Minutes
Finance Committee Meeting--Remote
Date and Time
Tuesday November 16, 2021 at 8:00 AM
Location
Meeting ID: 956 9377 5063
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)
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Meeting ID: 956 9377 5063
Passcode: 705920
Committee Members Present
A. Gray (remote), C. Egger (remote), D. Alexander (remote), K. Kelly (remote), K. Rauschenberger (remote), S. Egger (remote)
Committee Members Absent
None
Guests Present
G. Swick (remote), S. Braley (remote), Trish.Strong@quatrrobss.com (remote)
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 Nov 16, 2021 at 8:00 AM.
C.
Approve Minutes of the October 19 2021 Finance and Audit Joint Meeting
A. Gray made a motion to approve the minutes from Finance and Audit Committee Joint Meeting--Remote on 10-19-21.
K. Rauschenberger seconded the motion.
The committee VOTED unanimously to approve the motion.
D.
Approve Minutes of the October 28 2021 Special Finance Committee Meeting
K. Kelly made a motion to approve the minutes from Special Meeting - Finance Committee on 10-28-21.
K. Rauschenberger seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Discussion of EAB Billing
A.
Discussion of EAB Billing Overrages
K. Rauschenberger made a motion to Approve all billing overages from EAB for August, September, and October.
A. Gray seconded the motion.
EAB provided a comprehensive explanation of the billing overrage, and the Committee agreed that if future billing overrage were to occur, Dan and Gary would be notified. EAB expressed optimism that it would not occur in future, or at least not nearly to this extent or frequency.
III. Financial Report
A.
Presentation of Interim October 31, 2021 Financial Statements
Shanan Egger presented the October 31 2021 interim financial report, answering Board questions.
IV. Expansion Project Update
A.
Update on Expansion: Gym/Middle School, Campus & Campus Building Construction
Dan Alexander presented the Expansion Update report, noting that the project was near to closing out, through the construction escrow, and with the work all but finished.
The Committee noted it as a cause for a future celebration.
V. TRACKING ITEMS
A.
Enrollment, FRL, English Learners, Special Ed Numbers
Jacquelyn Willer presented the Report, noting that enrollment had reached 362 students.
B.
Financial Policies
Shanan and Dan promised to work on a new set of Policies, and bring them forward in coming weeks for Committee consideration.
C.
Finance Committee Goals
Adam commended Shanan, Jacquelyn and Dan for hard work and accomplishment.
VI. Other Business
A.
Next meeting(s)
There was confirmation of the next Finance Committee Meeting date on December 21st, at 8am.
VII. 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 9:05 AM.
Respectfully Submitted,
D. Alexander