Libertas Academy Charter School
Minutes
Monthly Finance Committee
Date and Time
Thursday October 14, 2021 at 5:30 PM
Location
Join Zoom Meeting
https://us04web.zoom.us/j/5069946767?pwd=QXEvbzlHb0tYZWE4VHl6MCtrVFlGUT09
Meeting ID: 506 994 6767
Password: 12345
https://us04web.zoom.us/j/5069946767?pwd=QXEvbzlHb0tYZWE4VHl6MCtrVFlGUT09
Meeting ID: 506 994 6767
Password: 12345
Committee Members Present
A. Langone (remote), A. Surrette (remote), M. Montero (remote), S. Lapolice (remote)
Committee Members Absent
None
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
A. Surrette made a motion to approve the minutes from Finance Committee Meeting on 06-15-21.
M. Montero seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Executive Director School Update
A.
ED School Update
III. Finance
A.
DESE Dashboard
1 of the indicators is red. The school received lots of grant funding, which is great, but created a bit of cashflow challenge.
B.
SNP
C.
School P&L Summary Statement
A. Surrette made a motion to approve the monthly financials.
M. Montero seconded the motion.
The committee VOTED unanimously to approve the motion.
D.
Annual Audit
AAF CPA presented the annual audit. There was one material finding of noncompliance. There was a check that was deposited without a signature. The ED explained that the check was a check given to him by the school and he forgot to sign it.
A. Surrette made a motion to approve financial audit as presented.
M. Montero seconded the motion.
The committee VOTED unanimously to approve the motion.
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 11:05 AM.
Respectfully Submitted,
A. Surrette
ED provided an update on the start of the school year. Overall, off to a strong start although the school is slightly underenrolled. Many challenges this year with enrollment due to COVID.