Urban Montessori Charter School
Minutes
Finance Committee Regular Meeting
Date and Time
Thursday June 15, 2023 at 3:00 PM
Location
4551 Steele Street, Oakland, CA 94619. Ring the front bell or call/text 510-290-4005 for entry. Signage on campus will direct you to the correct room, generally the Head of School's Office.
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; Passcode 510 842 1181
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Meeting ID: 825 9285 5160
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Members: Greg Klein (Chair), Ann Rhodes
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
A. Rhodes, G. Klein
Committee Members Absent
None
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 comments on the minutes.
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 the report from Edtec. No changes in the forecast since April. Expenses are tracking under budget overall. Revenues are tracking to the forecast, but we are still unclear what will happen with the state budget with certain state funds potentially being clawed back by California. Josh shared that After School Revenue is tracking higher than what is forecasted.
No public comments on this item.
B.
Contracts, invoices, and payments above $15,000
The committee discussed and recommended the CharterSafe insurance contract to go on the next General Consent Report for the Board's approval.
No public comments on this item.
C.
Local Control and Accountability Plan for 2023-2024
The committee reviewed the latest draft of the LCAP and Local Indicators reflection. Josh shared that he needs to send a slightly updated version of the Budget Overview for Parents to be included prior to the Board voting on LCAP at next week's Board Meeting.
No public comments on this item.
D.
Discuss Budget for 2023-2024 and multi-year projections
Josh shared an overview of the May Revise and the latest Legislature's proposal. The Governor's proposal would impacts UMCS with a loss of about $200k and the Legislature's proposal would result in a loss of $30k. Our latest draft budget already includes plans for a $100k loss in one-time revenue.
Josh shared the most recent draft of the multiyear budget, which is included in this meeting's packet. Josh shared that the budget works when we hit our enrollment targets.
Ann shared that FAC met with Krishna last week to share about Fundraising and getting plans calendared for the upcoming year.
No public comments on this item.
E.
Review of Board Policies
Greg shared that he reviewed the UMCS Family Handbook, UMCS Employee Handbook, and Annual Notices to Families. Greg asked Josh and Eboni from Edtec if they had updated information about including newly required language about Firearm Safety in the Annual Notices to Families, but they did not have any updates. The committee discussed the Calendar of Regular Board Meetings 2023-2024, including Committee Meetings, and plan to move the meeting time to 3:30pm starting next school year.
No public comments on this item.
III. Closed Session
A.
Closed Session Items
At 3:46pm, Greg shared that the committee would go into closed session on Public Employee Performance Evaluation - Head of School. There were no public comments on this item.
B.
Report out of Closed Session
At 3:52pm, the committee returned to open session. Greg shared that no actions were taken while in closed session.
IV. Closing Items
A.
New Business
No new items.
No changes needed.