Urban Montessori Charter School
Minutes
Finance Committee Regular Meeting
Date and Time
Monday November 27, 2023 at 3:30 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
Guests Present
J. Kemp (remote), K. Feeney
I. Opening Items
A.
Call the Meeting to Order
B.
Record Attendance
C.
Vote on Minutes from prior Finance Committee Meeting
| Roll Call | |
|---|---|
| A. Rhodes |
Aye
|
| G. Klein |
Aye
|
D.
Review of Action/Discussion Items
E.
Presentations from the Floor
No public comment on items not on the agenda.
II. Finance
A.
Discussion Item: Monthly Fiscal Report
Eboni shared the most recent report, through the end of October. The operating income is forecasted overall to increase by $49,000 to $159,000. The changes are primarily driven by an increase in forecasted revenue from the Expanded Learning Opportunity Program (ELOP). On expenses, there was a small increase related to Special Education and increased ELOP staffing. The forecasted fund balance is now at 31.1% of expenses. Cash flow is forecasted to stay above 3 months of expenses for the rest of the year.
Eboni also shared the most recent draft of the First Interim report which will be turned into ACOE by December 15th. There is still more work to do for the 2024-2025 and 2025-2026 school year draft budgets to update with more accurate expenses and revenue projections. Greg asked and Eboni shared that Prop 28 funds are loaded into the forecast. Greg asked and Josh shared the recent family fundraising totals from the last few fiscal years, ranging from about $90,000 to $45,000 per year. Ms. Feeney and Edtec will update further prior to coming back to the full board for approval.
No public comments on this item.
B.
New Business
Krishna shared that the Board needs to schedule a brief Special Meeting in December to vote on the Audit and First Interim Report.
III. Closed Session
A.
Closed Session Items
At 3:58pm, the Committee went 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 4:15pm, the committee returned to open session. No actions were taken.
No changes needed.