Elgin Math & Science Academy
Minutes
Finance Committee Meeting
Date and Time
Friday September 22, 2023 at 7:45 AM
Location
In-person Meeting
Administration Building
Principal's Office
Committee Members Present
A. Gray, D. Alexander, D. DeJong (remote), K. Kelly
Committee Members Absent
J. Willer, K. Rauschenberger, M. Armstrong, P. Stagen
Guests Present
R. Manderschied, S. Egger (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
C.
Approve Minutes of the August 15 2023 Meeting of the Finance Committee
II. Operations Update
A.
COO Report on Operations
Dan Alexander presented the Report, answering questions.
III. Financial Report
A.
August 31, 2023 Interim Financial Statements
Douglas DeJong and Shanan Egger presented the Report, answering questions.
B.
Change in banking relationship
Dan discussed the next steps involved in the banking change.
C.
Report on FY23 Audit
Shanan and Douglas reported on the progress of the FY24 Audit.
D.
Update to Five Year Financial Model
The Committee agreed this work would be deferred until later in the semester.
E.
Financial Policies
The Committee agreed this work would be deferred, until December at the earliest, in light of other priorities.
IV. TRACKING ITEMS
A.
Enrollment, FR Percentage
Dan presented the report, and he and Ron Manderschied answered questions about it.
V. Other Business
A.
Next meeting(s)
The next meeting of the Committee will be on Friday October 20, 2023.
This was deferred until Board Meeting consent Agenda