International School of Louisiana Board of Trustees
Minutes
Finance Committee Meeting
Date and Time
Tuesday March 24, 2015 at 5:30 PM
Location
Camp St. Campus
Committee Members Present
D. Drucker, M. Tennyson
Committee Members Absent
D. Bordson-Bozzo, S. Chapman
Guests Present
Tracy Shields
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
D. Drucker called a meeting of the Finance Committee of International School of Louisiana Board of Trustees to order on Tuesday Mar 24, 2015 at 5:48 PM.
II. Finance
A.
January 2015 Financial Statements
Administration responded to questions regarding accounts receivable, Federal revenues, maintenance and rent.
B.
January 2015 HOS Credit Card Statements
Administration responded to questions regarding January statement charges.
C.
January's Check Reporting
Administration responded to various cash disbursements.
III. Other Business
A.
Discussion of Policy Changes (Audit process)
Draft of proposed policy changes was distributed to committee members for review and discussion at next meeting.
B.
Budget Process
Budget is in process of being created with input from department heads. Staff member has been designated to track compliance with open meeting laws.
C.
Adoption of Changes to Bank Institution Section
This will be deferred to next meeting.
D.
Cash Flow
Committee discussed projected cash balances at 6/30/15 and the impact on cash reserves in effort to elevate CMO's credit rating.
IV. 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 6:31 PM.
Respectfully Submitted,
D. Drucker