Elgin Math & Science Academy
Minutes
Meeting of Finance & Operations Committee - 1st Budget Meeting
Date and Time
Tuesday May 16, 2023 at 8:00 AM
Committee Members Present
A. Gray (remote), D. Alexander (remote), D. DeJong (remote), K. Kelly (remote), S. Egger (remote)
Committee Members Absent
G. Swick, J. Willer
Guests Present
Douglas.DeJong@quatrrobss.com (remote), M. Armstrong (remote), rmanderschied@emsacharter.org (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
C.
Approve Minutes of the March 21 2023 and April 18 2023 Meetings of the Finance Committee
II. Financial Report
A.
April 30, 2023 Interim Financial Statements
Shanan Egger presented the financial report for April 30 2023. He answered questions from the Committee and noted comments.
III. FY24 Draft Budget Review
A.
Review of FY24 first draft Budget
Shanan Egger presented the first draft Budget for fiscal year 2024, as developed by Administration. He answered questions from the Committee, and noted comments.
IV. Operations Update
A.
COO Report on Operations
Dan Alexander presented a brief Operations update.
He noted the construction project was on schedule, and on budget.
V. TRACKING ITEMS
A.
Enrollment, FR Percentage
No new items here as the School Year winds down. Free/Reduced percentage of 54% confirmed by E-rate in its recent funding approvals.
VI. Other Business
A.
Next meeting(s)
The next Meeting of the Committee will be June 20, 2023.
Dan Alexander called the Meeting to order at 8:05 am.