City on a Hill Charter Public School
Minutes
February 2024 Finance Committee Meeting
Date and Time
Monday February 12, 2024 at 2:00 PM
This meeting took place remotely pursuant to a supplemental budget bill which, among other things, extends the temporary provisions pertaining to the Open Meeting Law to March 31, 2025 signed into law by Governor Healey on March 29, 2023. This meeting took place via Zoom: https://cityonahill-org.zoom.us/j/83844702238
Committee Members Present
Andres Tejeda Soto (remote), Ted Gildea (remote)
Committee Members Absent
None
Guests Present
Asha Ibrahim (remote), Cynthia Marie (remote), Jordan Pina (remote), Melisa Lemire (remote), Sonya Pratt (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
Ted Gildea called a meeting of the Finance Committee of City on a Hill Charter Public School to order on Monday Feb 12, 2024 at 2:06 PM.
C.
Approve December 2023 Meeting Minutes
II. Finance Updates
A.
Finance Updates
III. 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 2:38 PM.
Respectfully Submitted,
Ted Gildea
Documents used during the meeting
- COAH_BudgetvsActual_1.31.24.pdf
- COAH StatementofCashFlows_1.31.24.pdf
- COAH StatementofFinancialPosition_1.31.24.pdf
Ted Gildea, Committee Chair, directed the attention of the Board to the General Finance Updates.Cynthia Marie, CEO of Central Source, displayed the School's Budget vs Actuals as of January 31, 2024, and noted that the School was on track for spending based on the time of year. She proceeded to review City on a Hill's Statement of Financial Position as of January 31, 2024, reiterating that the School maintains a reserve of at least six months' worth of cash on hand, as previously discussed with the Committee. Additionally, she highlighted that the School continues not to utilize its Line of Credit and has no outstanding debt. The Committee unanimously agreed that the School's financial position remains strong and expressed gratitude to Marie.