Urban Montessori Charter School
Minutes
Finance Committee Regular Meeting
Date and Time
Thursday October 21, 2021 at 3:00 PM
Location
The committee will meet at school 4551 Steele Street, Oakland, CA 94611
The public may comment and participate via Zoom if they prefer. The public may also email comments to staceyw@urbanmontessori.org to be shared during the meeting.
Meeting ID: 510 290 4005; Passcode 5102904005
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
Additional teleconference locations: 1623 Sunhill Ct, Martinez, CA 94553; 331 Ramona Ave, El Cerrito, CA 94530
The public may comment and participate via Zoom if they prefer. The public may also email comments to staceyw@urbanmontessori.org to be shared during the meeting.
Meeting ID: 510 290 4005; Passcode 5102904005
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
Additional teleconference locations: 1623 Sunhill Ct, Martinez, CA 94553; 331 Ramona Ave, El Cerrito, CA 94530
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.
Important Notice: Due to increased demand, dial-in by phone audio conferencing capabilities may be unavailable. During this time, Zoom strongly recommends using computer audio capabilities (or via phone with the Zoom app) while on wifi.
If you have any trouble getting on the Zoom, please text 510-290-4005 for support.
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.
Important Notice: Due to increased demand, dial-in by phone audio conferencing capabilities may be unavailable. During this time, Zoom strongly recommends using computer audio capabilities (or via phone with the Zoom app) while on wifi.
If you have any trouble getting on the Zoom, please text 510-290-4005 for support.
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 Oct 21, 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 09-16-21.
S. Wang seconded the motion.
No questions or public comment.
| Roll Call | |
|---|---|
| D. Leung |
Aye
|
| G. Klein |
Aye
|
| S. Wang |
Aye
|
D.
Review of Action/Discussion Items
No changes needed.
E.
Presentations from the Floor
No public comments on items not on the agenda.
II. Finance
A.
Discussion Item: Monthly Fiscal Report
Bryce from Edtec shared the monthly report.
Operating income decreased in the latest forecast to ($193,000). Increase in state's allocation for special education students coupled with increase Student Support Assistant salary and benefits. Also now included fencing improvements costs. Tracking multiple new state revenues that support reducing and possible elimination of this one-time deficit.
Ending fund balance remains at about 28% and cash should continue to increase over the next few months.
Davis asked how cash might look early next fiscal year. Bryce shared that should remain solid assuming current enrollment projections.
Stacey asked about enrolling additional students this year supporting finances. Bryce responded that there is still time, and families may be looking after Winter Break. Greg added or after kids are vaccinated.
Krishna shared that attendance is preliminarily at 97%, but needs to confirm that all absences are included in the preliminary report.
Readathon is currently at about $21,000.
Bryce shared updates on State Funding, including Expanded Learning Opportunities (ELO), which is about $91,000 for UMCS. Greg asked Not in the latest forecast. Funding supports extended school day and year opportunities for students. Need to start planning in January.
Bryce shared about the Educator Effectiveness Grant. Entitlements just released, approximately $80,000. Requires an opportunity for public input into the plan at a first board meeting prior to final adoption at a subsequent board meeting. About $16,000 in revenue is in the forecast, but not the rest.
Bryce shared about the TK expansion planning grant. Likely to receive $55,000 later this year to support planning. These resources are also not in the current forecast.
No other questions or public comments.
B.
Discuss long term budget and enrollment planning and scenarios
Greg shared recent financial context from nearby local school systems related to long-term budget forecasts. Greg and Bryce worked on similar long-term budget planning for UMCS removing all one-time funding and modeling. Hoping to bring a high-level draft to a future committee meeting. For now, the modeling accounts for very conservative enrollment and attendance numbers, removes all one-time funding, lowers fundraising expectations, and still comes out structurally balanced and positive.
No other questions or public comments.
C.
ESSER III Expenditure Plan
Bryce shared about the ESSER III planning process and the draft plan. Aligned plan to ESSER II spending and prior Expanded Learning Opportunity grant plans. Krishna shared that we worked to keep the plan simple and in plain language, and it's unclear exactly how these plans will be audited. Beyond 2024, we are using that long-term financial modeling to understand how one-time revenue may be able to be replaced with recurring revenue due to natural enrollment increases and improved structural efficiencies.
Committee recommended approval of the plan by the Board.
No other questions or public comments.
D.
LCAP Supplement & Presentation Requirement
Bryce shared earlier on this topic. At this time, he additionally shared that the state shared a draft template just yesterday.
No other questions or public comment.
E.
Contracts, invoices, and payments above $15,000
Krishna shared that there are none at this time.
No questions or public comments.
F.
Educator Effectiveness Plan
Bryce shared earlier on this topic. At this time, he additionally shared a blank plan template that can be populated for the Board meeting to solicit public input.
No other questions or public comments.
G.
Long Term Lease and Potential Facilities Investments
Krishna shared that she continues to discuss with OUSD about multi-year leasing beyond June 30, 2022. Greg asked if those discussions were in addition to Prop 39 and Krishna responded yes. Davis asked and Krishna responded that the most hopeful scenario is a multi-year deal, but preparing for multiple scenarios.
No other questions or public comments.
III. Closed Session
A.
Closed Session Items
Stacey announced the committee going into closed session on Public Employee Performance Evaluation - Head of School at 4:01pm.
There was no public comment on this item.
B.
Report out of Closed Session
The committee returned to open session at 4:16pm. No actions were taken.
IV. Closing Items
A.
New Business
No new items at this time.
B.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 4:17 PM.
Respectfully Submitted,
G. Klein
Documents used during the meeting
- 21-2212 President's Report - September 22 2021.pdf
- State-intervenes-to-address-S-F-school-16510787.pdf
- Screen Shot 2021-09-14 at 3.50.56 PM.png
- Educator Effectiveness Plan overview.pdf