International School of Louisiana Board of Trustees

Minutes

ISL Finance Committee Meeting

Date and Time

Tuesday August 18, 2020 at 6:00 PM

Location

The Board will hold a meeting via electronic means due to a declared state of emergency or disaster within our geographic area. Members of the public may access the video meeting through this link: https://meet.google.com/nyz-ykvt-gsd. Members of the public will have an opportunity to address the Board during the meeting or they may submit comments in advance to be read aloud during the public comment period of the meeting by emailing them to schapman@isl-edu.org. Comments are limited to two minutes per topic, per person. For more information or to request other accommodations, please contact Ms. Chapman by email.

Committee Members Present

E. Thomas (remote), G. Ligon (remote), L. Muetzel (remote), M. Tennyson (remote), Y. Zaitseva McCloskey (remote)

Committee Members Absent

H. Rodgers iv

Guests Present

C. Rice (remote), D. Rowland (remote), M. Correa (remote)

I. Opening Items

A.

Record Attendance and Guests

B.

Call the Meeting to Order

Y. Zaitseva McCloskey called a meeting of the Finance Committee of International School of Louisiana Board of Trustees to order on Tuesday Aug 18, 2020 at 6:05 PM.

II. Finance

A.

May and June 2020 Financials and HoS Credit Card

Reviewed May and June Financials. Ended the academic year with $1.8MM surplus. MFP and IDEA B revenue came in higher than expected/budgeted. Expenses came in lower as well - some related to pandemic and some related to technology purchases this year for the next year. PPP forgiveness process has not started yet.

B.

Louisiana Compliance Questionnaire

Reviewed the questionnaire and will be bringing the Questionaire to the Board for approval on September 23rd

C.

Line of Credit Discussion

We have decided that at this point we do need a Line of Credit.

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 6:37 PM.

Respectfully Submitted,
Y. Zaitseva McCloskey