Urban Montessori Charter School
Minutes
Finance Committee Regular Meeting
Date and Time
Thursday August 18, 2022 at 3:00 PM
Location
4551 Steele Street, Oakland, CA 94619. Signage on campus will direct you to the correct room, generally the Sun Room.
The public may comment and participate via Zoom if they prefer. The public may also email comments to greg@urbanmontessori.org to be shared by the during the meeting. Please make that intention clear in your email.
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Meeting ID: 825 9285 5160
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Members: Greg Klein (Chair), 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
Committee Members Absent
None
Guests Present
K. Feeney
I. Opening Items
A.
Call the Meeting to Order
B.
Record Attendance
C.
Vote on Minutes from prior Finance Committee Meeting
No questions or public comment on this item.
| Roll Call | |
|---|---|
| G. Klein |
Aye
|
| D. Leung |
Aye
|
D.
Review of Action/Discussion Items
E.
Presentations from the Floor
No public comments on items not on the agenda.
II. Finance
A.
Discussion Item: Monthly Fiscal Report
Josh shared that close of last fiscal year is still in process. The unaudited actuals will be turned into the County by September 15th, and will be reviewed by the Board also in September.
There is no July year to date report. In September, the committee will review the financials through end of August.
No other questions or public comment on this item.
B.
Updates on 2022-2023 Budget
Josh shared about the latest budget laws. Hold harmless for 2021-2022 passed in Sacramento, but our auditors recommend that we show that revenue in this current fiscal year, even though the funds are related to the prior fiscal year. LCFF percentage increase was also higher than in our adopted budget. In one time funds, there is a new Learning Recovery Emergency Block (LREB) Grant (via unduplicated ADA), and another one for Arts, Music, and Instructional (AMI) Materials (ADA).
For Expanded Learning Learning Opportunity, the revenue came in a little lower per unduplicated ADA, and Edtec is supporting the UMCS Director of Expanded Learning in planning and budgeting.
More on LREB Grant -- can be spent through 2027-2028. Can be spent on instructional time, literacy, staff training, counseling, mental services -- very broad.
More on AMI Materials -- can be spent through 2025-2026, can support with instructional materials.
Overall, the there is an increase of $918k in additional revenue above the budget adopted in June. But if enrollment stays the same, which is lower than our adopted budget, the increase in revenue will be closer to $470k, much of which will be spread out over multiple school years.
Krishna shared about the transition to universal TK is new, and enrolling more Kinder families can create future enrollment bubbles and other issues that carry through for years down the road. Need to work on enrolling the TK and K, and consider moving sooner to four classrooms in each of UE and LE, and maintaining staffing to ensure full capacity and coverage.
No other discussion or public comments on this item.
C.
Discussion and review of the ConApp for 2022-2023
Josh reviewed the ConApp and the Title funding we will apply for. This has be approved by the Board. It was delayed this year from June to September. The committee recommended putting it on the upcoming General Consent Agenda.
No further discussion or public comments on this item.
D.
Contracts, invoices, and payments above $15,000
None at this time.
No public comments on this item.
III. Closed Session
A.
Closed Session Items
Tabled, did not occur.
B.
Report out of Closed Session
Tabled, did not occur.
IV. Closing Items
A.
New Business
No new items at this time.
No changes needed.