G. Wallis consented the finance committee meeting agenda. 

G. Wallis received the December financials. 

Statement of Financial Position 
Title I and Title II recorded as a receivable then will be converted to cash when the $194,000 is received.
$250,000 net revenue at the end of December leaving Edison favorable for the month. 

Budget vs. Actuals: FY19 Budget - FY 19 P &L 
Edison is slightly above budget as year to date. 
A few expense line items have been added to be more descriptive of expenses including athletics and charitable contributions. There aren't budget amounts for the new line items but will be included in next years budget. This will provide a more informative financial statements in future. 
Other professional services expenses are higher this month due to Donovan CPAs expenditures. 
Edison is favorable by $23,000 for the month and $52,000 for the year. Variance is favorable $241,000 year to date.

Statement of Activity- General Fund 
By month December expenses included IPS salary pay raise and TAG grant addition. 

Accrue by the end of June to prepare for the 1st payroll in July. Will look like there is 1 payroll in July 2018 looks like there is 1 payroll and  and 3 payrolls in July 2019. Have $110,000 available by the end of June to be favorable for July. 

Form 990 is being prepared by C. Jones and Brian Anderson, Accountant, to be submitted in May 2019. 

Form 9 to be submitted to IPS will be submitted by B. Anderson and K. Ballin. 
 

C. Jones will be meeting with Horace Mann's representatives to further discuss the retirement plan process. 

G. Wallis discussed that the active shooter insurance coverage application has been submitted by Miller Insurance Group. 

N. Tuttle discussed the teacher salary proposal. 
E. Disney- Britton the referendum resulted in increase salary of employees but did not allotted funds to Edison. IPS will be giving Edison will receive $39,000 towards salary from IPS. 6% salary increase from previous years IPS pay scale. 
G. Wallis suggested to allocate funds ( $150,000-$160,000) towards a salary increase to teachers. 
N. Tuttle discussed that any future incremental raises will be based on teacher's ratings of effective or highly effective performance reviews. 

Edison's IPS employees received December installment. The 4 teachers will be informed that the second payment is retracted but will be supplemented by the new IPS salary pay raise. IPS has fulfilled their salary commitment. The classified IPS employees including custodians and food service will continue to receive their second pay raise installment. 
 

N. Tuttle discussed the technology proposal including the usage of Title IV funding.