Making Waves Academy
Minutes
Finance Advisory Committee
Date and Time
Wednesday September 2, 2020 at 1:00 PM
Location
Join Zoom Meeting
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Meeting ID: 832 1012 9349
Passcode: 227430
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https://mwacademy.zoom.us/j/83210129349?pwd=STJNdjFKZGNjSExoUWtSTk04MFVqQT09
Meeting ID: 832 1012 9349
Passcode: 227430
One tap mobile
+12532158782,,83210129349#,,,,,,0#,,227430# US (Tacoma)
+16699006833,,83210129349#,,,,,,0#,,227430# US (San Jose)
If you have questions about the agenda and materials or you are in need of disability-related accommodations, please contact:
Si tiene preguntas sobre la agenda y materiales o necesita adaptaciones relacionadas con la discapacidad, comuníquese con:
Elizabeth Martinez at emartinez@mwacademy.org or 510-227-9856.
In accordance with Executive Order N-25-20 in the State of California, we will be hosting this meeting via teleconference.
Public Comment
The public may address the committee regarding any item within the subject-matter jurisdiction of the MWA governing board.
Under Public Comment, members of the public may
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. Please note that all agenda times are estimates.
Si tiene preguntas sobre la agenda y materiales o necesita adaptaciones relacionadas con la discapacidad, comuníquese con:
Elizabeth Martinez at emartinez@mwacademy.org or 510-227-9856.
In accordance with Executive Order N-25-20 in the State of California, we will be hosting this meeting via teleconference.
Public Comment
The public may address the committee 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 one minute each, or a total of five minutes for all speakers.
- To submit your public comment, send your full public comment in email to emartinez@mwacademy.org.
- Your submission should indicate if it is a general public comment for the beginning of the meeting or a comment for a specific agenda item (please include the item number).
- All submitted public comments will be read out loud during the meeting.
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. Please note that all agenda times are estimates.
Committee Members Present
Alicia Malet Klein (remote), Alton B. Nelson Jr. (remote), Hung Mai (remote)
Committee Members Absent
None
Guests Present
Elizabeth Martinez, Lori Crawford (remote), Patrick O'Donnell (remote), Sid Landman (remote), Wallace Wei (remote)
I. Opening Items
A.
Call the Meeting to Order
Alicia Malet Klein called a meeting of the Finance Committee of Making Waves Academy to order on Wednesday Sep 2, 2020 at 1:00 PM.
B.
Record Attendance and Guests
C.
Public Comment
No public comments were made.
II. MWA Finance
A.
2019-20 Unaudited Actuals
- The CFO presented the 2019-20 Unaudited Actuals and highlighted the key changes from the Original Budget to the Unaudited Actuals.
- The Finance Advisory Committee will recommend the 2019-20 Unaudited Actuals to the MWA Board for approval.
B.
Executive Summary on 2020-21 State Budget
The CFO presented the final State Budget for 2020-21 and highlighted its impact on MWA’s budget.
C.
Executive Summary on CalSTRS Audit and Internal Review
The CFO briefed the Committee on the results of a recent CalSTRS audit. The finance team will do an internal review on CalSTRS compliance and report the results at the next Finance Advisory Committee meeting.
D.
Monthly Financial Submission Dates
The CFO requested to change the monthly financials submission deadline from the 15th to the 20th of each month. The Finance Advisory Committee agreed to grant the finance team five extra days to submit the monthly financials if needed.
E.
Cost of Insurance Premiums to Cover Liability Riders for COVID-19
The Committee discussed the current insurance coverage provided by CharterSAFE, the failure of the state to pass legislation on the issue and the infeasiblity of additional coverage for COVID-19.
F.
Review 2020-21 FAC Meetings Schedule
The Director of Finance proposed, and the Committee agreed on the following Finance Advisory Committee meeting dates and times for 2020-21:
- 2019-20 Unaudited Actuals, Date: 9/2/2020, Time: 1:00 PM – 3:00 PM
- 2020-21 1st Interim Budget, Date: 11/19/2020, Time: 10:30 AM – 12:30 PM
- 2020-21 2nd Interim Budget and 2021-22 1st Draft Budget, Date: 2/25/2021,Time: 10:30 AM – 1:30 PM
- 2021-22 2nd Draft Budget, Date: 5/13/2021, Time: 10:30 AM – 12:30 PM
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 2:00 PM.
Respectfully Submitted,
Wallace Wei