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Making Waves Academy

Minutes

Finance Advisory Committee

Date and Time

Tuesday February 25, 2020 at 10:30 AM

Location

3045 Research Drive 
Richmond, CA 94806
If you are in need of disability-related accommodations, please contact:
Si necesita adaptaciones relacionadas con la discapacidad, comuníquese con:
Elizabeth Martinez at emartinez@mwacademy.org or 510-275-7331.

Public Comment 
  • The public may address the MWA Board regarding any item within the subject-matter jurisdiction of the MWA governing board.
  • Under Public Comment, members of the public may
    • Comment on items on the agenda
    • Comment on items not on the agenda
    • Presentations are limited to two minutes each, or a total of twenty minutes for all speakers, or the two-minute limit may be shortened.
  • In accordance to the Brown Act, the MWA Board may listen to comments, but can neither discuss nor take action on the topics presented. Members of the board are very limited in their response to statements or questions by persons commenting on items not on the agenda.
  • Speaker cards are located at the entrance of the Board Room and should be turned in to the designated staff member or to the Board prior to the beginning of public comment for general public comment and before board discussion commences following staff presentations. 
  • Under SB1036 the minutes from this meeting will omit student and parent names and other directory information, except as required by judicial order or federal law. If a parent/ legal guardian wishes a name be included, one must inform the board prior to their public comment.  

Committee Members Present

Committee Members Absent

None

Guests Present

Alicia Malet Klein, Alton B. Nelson Jr., Darcy Deming, Elaine Clark, Elizabeth Martinez, Hung Mai, Patrick O’Donnell, Sid Landman

I. Opening Items

A.

Call the Meeting to Order

B.

Record Attendance and Guests

II. MWA Finance

A.

MWA 2019-20 2nd Interim Budget

Following review, committee recommended the second interims to the MWA Board for approval.

B.

MWA 2020-21 Budget – Draft

The committee reviewed first drafts of the FY21 budgets. Of particular note:
  • CEO explained the concept of core, core plus and holistic buckets for spending.
  • The committee asked that in the future new budgets be compared to current actuals (i.e. second interims) rather than the original budget or first iterims.
  • Staff noted the addition of four extra teachers to mitigate the impact of teacher vacancies throughout the year
The committee asked that the changes in college access and staff retention expenses paid for by Making Waves Foundation be better explained in the next iteration.

C.

Long-Term Financial Outlook

The group will meet again to review revised FY21 budget drafts in late April.

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 12:00 PM.

Respectfully Submitted,
Hung Mai