Urban Montessori Charter School
Minutes
Finance Committee Regular Meeting
Date and Time
Thursday September 16, 2021 at 3:00 PM
Location
The committee will meet at school 4551 Steele Street, Oakland, CA 94611
The public should join the meeting via Zoom
tinyurl.com/Zoom5102904005
Meeting ID: 510 290 4005, and passcode 510 290 4005
One tap mobile
+16699006833,,5102904005# US (San Jose)
+13462487799,,5102904005# US (Houston)
Dial by your location
+1 669 900 6833 US (San Jose)
+1 346 248 7799 US (Houston)
+1 253 215 8782 US (Tacoma)
+1 312 626 6799 US (Chicago)
+1 929 436 2866 US (New York)
+1 301 715 8592 US (Germantown)
Meeting ID: 510 290 4005
Find your local number: https://us02web.zoom.us/u/kb8IDmVDDD
The public should join the meeting via Zoom
tinyurl.com/Zoom5102904005
Meeting ID: 510 290 4005, and passcode 510 290 4005
One tap mobile
+16699006833,,5102904005# US (San Jose)
+13462487799,,5102904005# US (Houston)
Dial by your location
+1 669 900 6833 US (San Jose)
+1 346 248 7799 US (Houston)
+1 253 215 8782 US (Tacoma)
+1 312 626 6799 US (Chicago)
+1 929 436 2866 US (New York)
+1 301 715 8592 US (Germantown)
Meeting ID: 510 290 4005
Find your local number: https://us02web.zoom.us/u/kb8IDmVDDD
The public can find documents related to this agenda either linked directly on the agenda or under "Other files" after selecting the meeting in BoardOnTrack prior to viewing the agenda. Downloading the "packet" may not include all of the "Other files" that are still otherwise available to the public.
AS ALLOWED BY GOVERNOR NEWSOM’S EXECUTIVE ORDER N-08-21 DATED JUNE 11, 2021 (WHICH IS HERE IN ITS ENTIRETY), AND FOLLOWING THE LEAD OF THE ALAMEDA COUNTY BOARD OF EDUCATION: THE COMMITTEE WILL MEET IN PERSON AT 4551 STEELE STREET, OAKLAND, CA 94619 AND THE PUBLIC MAY JOIN VIA ZOOM.
Members: Stacey Wang (Chair), Greg Klein, Davis Leung
Urban Montessori Charter School welcomes your participation at Board meetings. The purpose of a public meeting of the Board of Directors (“Board”) is to conduct the affairs of the organization in public. Your participation assures us of continuing community interest in our school and assists the Board in making the best decisions for our school. To assist you in the ease of speaking/participating in our meetings, guidelines are provided at the bottom of this agenda. All materials for all board and committee meetings, including audio recordings of Regular Board Meetings, are available on our BoardOnTrack public portal and also through the UMCS School Calendar.
AS ALLOWED BY GOVERNOR NEWSOM’S EXECUTIVE ORDER N-08-21 DATED JUNE 11, 2021 (WHICH IS HERE IN ITS ENTIRETY), AND FOLLOWING THE LEAD OF THE ALAMEDA COUNTY BOARD OF EDUCATION: THE COMMITTEE WILL MEET IN PERSON AT 4551 STEELE STREET, OAKLAND, CA 94619 AND THE PUBLIC MAY JOIN VIA ZOOM.
Members: Stacey Wang (Chair), Greg Klein, Davis Leung
Urban Montessori Charter School welcomes your participation at Board meetings. The purpose of a public meeting of the Board of Directors (“Board”) is to conduct the affairs of the organization in public. Your participation assures us of continuing community interest in our school and assists the Board in making the best decisions for our school. To assist you in the ease of speaking/participating in our meetings, guidelines are provided at the bottom of this agenda. All materials for all board and committee meetings, including audio recordings of Regular Board Meetings, are available on our BoardOnTrack public portal and also through the UMCS School Calendar.
Committee Members Present
D. Leung (remote), G. Klein, S. Wang (remote)
Committee Members Absent
None
Guests Present
B. Fleming (remote), K. Feeney
I. Opening Items
A.
Call the Meeting to Order
S. Wang called a meeting of the Finance Committee of Urban Montessori Charter School to order on Thursday Sep 16, 2021 at 3:04 PM.
B.
Record Attendance
C.
Approve Minutes from prior Finance Committee Meeting
D. Leung made a motion to approve the minutes from Finance Committee Regular Meeting on 08-19-21.
S. Wang seconded the motion.
No public comment or questions.
The committee VOTED unanimously to approve the motion.
| Roll Call | |
|---|---|
| G. Klein |
Aye
|
| D. Leung |
Aye
|
| S. Wang |
Aye
|
D.
Review of Action/Discussion Items
No changes needed.
E.
Presentations from the Floor
No public comment on items not on the agenda.
II. Finance
A.
Discussion Item: Monthly Fiscal Report
Bryce shared the monthly report through August 31, 2021. Forecast was reduced from prior forecast primarily due to LCFF reductions related to enrollment. Now forecasting an operating deficit this year of $179,000. This is after shifting some additional ESSER II resources into this fiscal year from a later fiscal year. Fund balance is now projected to end the fiscal year at 28% of expenses.
Cash on hand forecast remains above our goal of three months of expenses for the remainder of the fiscal year.
Bryce shared a few ideas on how to improve the operating income through reducing particular expenses or increasing revenues/enrollment.
Davis asked about ESSER funding for future years and Bryce responded that there is approximately $320,000 in future years' ESSER funding. Davis asked about the attendance percentage goal, and Krishna shared that we may not hit 94% schoolwide in a year with so many illness/symptom-related restrictions, and there is an attendance "hedge" in the budget for expenses.
TK planning grant of approximately $50,000 in revenue is not in the forecast.
Krishna shared that enrollment in the youngest grades is the main current dynamic. Next year's move to expanding TK will support future revenue.
No other discussion or public comment.
Cash on hand forecast remains above our goal of three months of expenses for the remainder of the fiscal year.
Bryce shared a few ideas on how to improve the operating income through reducing particular expenses or increasing revenues/enrollment.
Davis asked about ESSER funding for future years and Bryce responded that there is approximately $320,000 in future years' ESSER funding. Davis asked about the attendance percentage goal, and Krishna shared that we may not hit 94% schoolwide in a year with so many illness/symptom-related restrictions, and there is an attendance "hedge" in the budget for expenses.
TK planning grant of approximately $50,000 in revenue is not in the forecast.
Krishna shared that enrollment in the youngest grades is the main current dynamic. Next year's move to expanding TK will support future revenue.
No other discussion or public comment.
B.
ESSER III Expenditure Plan
Bryce shared that the Board must approve this plan in the October meeting, and the committee should review it at its October meeting.
The template to be completed is attached to the agenda for this meeting.
No other discussion or public comment.
The template to be completed is attached to the agenda for this meeting.
No other discussion or public comment.
C.
LCAP Supplement & Presentation Requirement
Bryce shared that this update is due February 28, 2022. The state said it would publish a template by November 30th. This update is to incorporate funds not already included in LCAP that was adopted in June 2021. It remains unclear if UMCS will receive any such unanticipated funding.
Bryce also mentioned that Educator Effectiveness Funding would go into this plan document, but also needs its own plan due on December 30th, with a prior public hearing. Plan is to create a public hearing at the October board meeting, but need the state to release the template, which it has not done.
No public comment on this item.
Bryce also mentioned that Educator Effectiveness Funding would go into this plan document, but also needs its own plan due on December 30th, with a prior public hearing. Plan is to create a public hearing at the October board meeting, but need the state to release the template, which it has not done.
No public comment on this item.
D.
Contracts, invoices, and payments above $15,000
Krishna shared the contract for the new security fence and then added a new gate afterward. Services already rendered, but with tax, the amount went above $15,000, by about $700.
Finance committee recommended approval on the upcoming General Consent Report.
No public comment on this item.
Finance committee recommended approval on the upcoming General Consent Report.
No public comment on this item.
III. Closed Session
A.
Closed Session Items
Tabled.
B.
Report out of Closed Session
Closed Session did not occur.
IV. Closing Items
A.
New Business
Finance Committee membership.
B.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 3:53 PM.
Respectfully Submitted,
G. Klein
Documents used during the meeting
- Interstate Fence Co., Inc 8-16-2021.pdf