Finance Committee Minutes

October 10, 2017, 4:00-5:00 PM

Tuesday October 10, 2017 at 4:00 PM

Conference Room, Support Office, Navigator Schools, 650 San Benito Street, Suite 230, Hollister, CA 95023

Teleconference Locations

Teleconference Instructions

Meeting ID: 451 522 623
Dial by phone: 408 638 0968
Join from PC, Mac, Linux, iOS or Android: https://navigatorschools.zoom.us/j/451522623

Caitrin Wright (remote), Joyce Montgomery (remote), Nora Crivello (remote)

None

Ami Ortiz, Bryan Adams, Ian Connell, Kevin Sved, Sean Martin

Ian Connell is our special guest today. He is from the Charter School Growth Fund.

Joyce Montgomery called a meeting of the Finance Committee of Navigator Schools to order on Tuesday Oct 10, 2017 at 4:04 PM.

Nora Crivello made a motion to Joyce Montgomery.

Joyce Montgomery seconded the motion.

The committee VOTED unanimously to approve the motion.

Bryan Adams presented documents and the committee members discussed the content and format. Bryan will send out a copy of the most recent monthly cash balance report.
Joyce recommended that an asset allocation and cash management proposal be prepared prior to the next finance committee meeting.

Ami and Bryan will reformat the financial report narrative sheet to clarify the budget for Hollister Prep School.
Joyce requested that any instance of contingency budgeting, if it is to be employed, should be brought to the board for consideration.
Joyce requested that committee documents evolve to incorporate actuals-to-date on a monthly basis in addition to a budget-to-budget interval.
Bryan confirmed that the summary level report page will not be included in future meeting packets per the request of committee members.
Attendees discussed the sustainability and implementation of STRS. Kevin referred the committee to the strategic plan for additional background information on this topic. Joyce stated that any consideration of future schools to not include STRS would require significant consideration, research, and discussion.

For GPS and HPS

Expansion

Kevin led a discussion focusing on expansion locations and implications for funding, including Proposition 39, the lease market, the sale market, and unused community and church spaces.
Joyce recommended pre-calculating a cost-per-square-foot number for facilities in target cities.
Caitrin commented that future Navigator Schools will likely be required to explore SB740 facilities in the early years as capitalized projects are generally not affordable until schools reach scale.

The next finance committee meetings will take place on

Sean will send calendar invitations to all committee members within 24 hours of the adjournment of this meeting.

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 4:59 PM.

Respectfully Submitted,

Sean Martin