Camino Nuevo Charter Academy
Minutes
Finance Committee Meeting
Date and Time
Tuesday March 12, 2024 at 4:00 PM
Location
Home Support Office
Conference Room
3435 W. Temple St
Los Angeles, CA 90026
This meeting is open to the public at Home Support Office's Conference Room at 3435 W. Temple St, Los Angeles, CA 90026.
The board meeting is also accessible at every CNCA Campus and board member virtual locations via teleconference connection:
CNCA Burlington 697 S. Burlington Ave., Los Angeles, CA 90057
CNCA Kayne Siart 3400 W. 3rd Street., Los Angeles, CA 90020
CNCA Jose A. Castellanos 1723 W. Cordova St., Los Angeles, CA 90007
CNCA Jane B. Eisner 2755 W 15th St., Los Angeles, CA 90006
CNCA Sandra Cisneros 1018 Mohawk St., Los Angeles, CA 90026
1818 Colby Ave, Los Angeles, CA 90025
2616 N Sepulveda Blvd, Manhattan Beach, CA 90266
Members of the public who wish to address the Board may make public comment at any of the meeting locations. Public comments are limited to 2 minutes each. The Board Chair has the discretion to modify the amount of time allotted for public comment if they deem it necessary. Brown Act regulations restrict the Board from discussing or taking action on any subject presented that is not on the agenda.
The CNCA Board can also be contacted via email at cnca.board@caminonuevo.org.
Committee Members Present
D. Gidlow (remote), G. Flores (remote), J. Ortega (remote), T. Powers (remote)
Committee Members Absent
F. Jimenez
Committee Members who arrived after the meeting opened
G. Flores
Guests Present
A. Abich (remote), Jeannette Sandoval, N. Cabrel, S. Herrera
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
II. Approve Minutes
A.
January 24, 2024 Minutes
III. Public Comment
A.
Public Comment
IV. FY23-24 Financials
A.
January 2024 Financials
January financials were reviewed by the committee. Revenue was positively impacted by interest & dividend income, E-Rate and SELPA grants. Cash on hand net of one-time funds remains robust, with a notable 83-days days on hand.
B.
Wells Fargo Update - Change in Accounts
The committee reviewed a bank initiated change to CNCA's accounts, that will provided modest interest to be earned on average balances on hand. For the sake of clarity; this is passive interest earned, no derivate exposure of any kind was discussed nor proposed.
There was no public comment.