Alma del Mar
Finance Committee Meeting
Published on June 19, 2020 at 12:42 PM EDT
Date and Time
Friday October 18, 2019 at 11:00 AM EDT
Location
Alma del Mar Charter School, 515 Belleville Avenue, New Bedford, MA 02746
Agenda
| I. | Opening Items | |
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Opening Items
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| A. | Record Attendance and Guests | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes | |
| Approve minutes for Finance Committee Meeting on September 20, 2019 | ||
| II. | Finance | |
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Finance
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| A. | September Financials | |
| B. | FY19 Audit Acceptance | |
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Make a motion and to recommend that the Board of Trustees accept the FY19 Audit Report. |
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| C. | Update on Church St. | |
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-Designer Selection Board meeting was on 10/9. Narrowed it down to 3 architects.
-Next step is an interview process for 3 finalists, scheuled for 10/23. -Land Acquisition Closing on track for 10/31. -Revisiting idea of building Douglass Campus in one phase -Facilities group site visit |
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| D. | Updated Projections | |
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Assumptions: Facilities plan:
Partial Build=long-term use of the temp space (IC) for approx. 250 students and constructing a smaller school (36,000 square feet) to house approx 350 students with occupancy in new building occuring in year 3/4. Project cost is estimated at $18million Full Build=constructing 55-58,000 square foot building in Phase I to house 594 students with occupancy occuring in year 3/4. Project cost is estimated at $27million. BOTH SCENARIOS HAVE ADDITIONAL TEMP SPACE IN YEAR 2 and 3. Enrollment Plan Z, Option C: Four years to full capacity In Year 2, add 50 scholars in 3rd grade and 100 scholars in 6th grade The Full Build projections yield a larger surplus in the long term due to cost savings in the salary line from only operating at one site/facility. See Comparison Report. |
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| III. | Other Business | |
| IV. | Closing Items | |
| A. | Adjourn Meeting | |