Empower College Prep
Finance & Compliance Committee Meeting
Date and Time
Tuesday October 17, 2017 at 4:00 PM MST
Location
2411 W Colter St. Phoenix, AZ 85015
Agenda
| I. | Opening Items | |
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Opening Items
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| A. | Record Attendance and Guests | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes | |
| Approve minutes for Finance & Compliance Committee Meeting on September 20, 2017 | ||
| II. | Finance & Compliance | |
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Finance & Compliance
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| A. | Approve revised FY18 budget | |
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The governing board and finance committee have discussed voting on a revised budget to hold management accountable to for FY2018 given lower enrollment numbers than expected. The revised proposed budget shows the same net income as the originally approved budget and a DSCR and DCOH that both exceed the required metrics of 1.20 and 30 days, respectively. This vote is to officially bring this revised budget to the next Governing Board Meeting for board approval. |
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| B. | Year 2 Tasks | |
| C. | Approve monthly financials | |
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This is a revised cash flow that includes the revised proposed FY18 budget and revised future projections. |
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| D. | Approve Quarter 1 financials | |
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Quarter 1 financials are due to LISC. This agenda item is to vote to approve the financial statements going to LISC. |
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| E. | Review FY17 revised financials | |
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Revised year-end FY17 financial statements |
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| F. | Review committee operational calendar | |
| III. | Closing Items | |
| A. | Adjourn Meeting | |