Alma del Mar
Finance Committee Meeting
Published on June 19, 2020 at 12:52 PM EDT
Date and Time
Friday May 22, 2020 at 11:00 AM EDT
Location
Remote Meeting
Christine Fisher is inviting you to a scheduled Zoom meeting.
Topic: Finance Committee Meeting
Time: May 22, 2020 11:00 AM Eastern Time (US and Canada)
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Meeting ID: 817 7557 3982
Password: 081214
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Meeting ID: 817 7557 3982
Password: 081214
Find your local number: https://us02web.zoom.us/u/kytk7ph0C
Topic: Finance Committee Meeting
Time: May 22, 2020 11:00 AM Eastern Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/81775573982?pwd=eFVqZEthS3pkdFFwWVI5Rk9lWFNzQT09
Meeting ID: 817 7557 3982
Password: 081214
One tap mobile
+13126266799,,81775573982#,,1#,081214# US (Chicago)
+16468769923,,81775573982#,,1#,081214# US (New York)
Dial by your location
+1 312 626 6799 US (Chicago)
+1 646 876 9923 US (New York)
+1 301 715 8592 US (Germantown)
+1 408 638 0968 US (San Jose)
+1 669 900 6833 US (San Jose)
+1 253 215 8782 US (Tacoma)
+1 346 248 7799 US (Houston)
Meeting ID: 817 7557 3982
Password: 081214
Find your local number: https://us02web.zoom.us/u/kytk7ph0C
Agenda
| I. | Opening Items | |
| A. | Record Attendance | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes | |
| Approve minutes for Finance Committee Meeting on April 17, 2020 | ||
| II. | Finance | |
| A. | FY20 April Financials | |
|
Highlights:
Operating Change in Net Position is forecasted at $421,600, an increase of $66k from budget
Revenue:
Grant Revenue reduced for FY20 to allow carryover of funds to FY21.
Expenses:
Adjustments made to forecast to reflect school being closed for remainder of year.
Released contingency at both campuses.
|
||
| B. | FY21 Budget | |
|
Highlights/Changes to FY21 Budget post COVID19:
Revenue:
Tuition-Assumes no increase from FY20 tuition rate
Entitlement Grants-Moved $450k of FY20 funding into FY21
Expenses:
Staffing-
Network, eliminated CAO position, $90k
Ottiwell eliminated 2.0 Associates, $66k
Douglass eliminated 1.0 Fellow and 1.0 Associate, $64k
Aligned Douglass' instructional supplies expense with Ottiwell resulting in $45k reduction
Increased contingency to allow for PPE and other expenses related to re-opening
Reduced Fieldwork-no field trips in FY21
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| III. | Other Business | |
| A. | Construction Update | |
| IV. | Closing Items | |
| A. | Adjourn Meeting | |