Elgin Math & Science Academy
Minutes
Finance Committee Meeting
Date and Time
Friday August 23, 2024 at 7:45 AM
Location
Admin Building
1600 Dundee Avenue
Elgin, IL 60120
Committee Members Present
D. Alexander, K. Kelly, P. Stagen, S. Bennett
Committee Members Absent
A. Scimeca, D. DeJong
Guests Present
K. Martinez
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 Aug 23, 2024 at 7:45 AM.
C.
Meeting Minutes - June 21, 2024
K. Kelly made a motion to approve the minutes from Finance & Operations Committee Meeting on 06-21-24.
S. Bennett seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Financial Report
A.
FY24 Draft and Unofficial Year-End financial report
B.
FY25 Budget and Five Year Model
Dan and Kathryn led a discussion of the FY25 Budget, and answered questions from the Committee.
III. Operations Report
A.
COO Operations Report - July/August
Dan presented a brief report.
IV. Other Business
A.
Next meeting(s)
The Committee decided to change the date of the October Committee meeting to 8:00 am on Wednesday October 23rd.
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 8:45 AM.
Respectfully Submitted,
D. Alexander
Dan led a discussion of the June 30 2024 financial statements, focusing on the Financial Metrics worksheet, and answered questions from the Committee.