MCCPS Board of Trustees
Minutes
Monthly FinCom meeting
Date and Time
Tuesday December 18, 2018 at 8:00 AM
Location
17 Lime Street, Marblehead, MA
Committee Members Present
Artie Sullivan, Jeff Barry, Jen Jewell, Jeremy Bumagin, Julie Santosus, Karl Smith, Rodolphe Herve, William Sullivan
Committee Members Absent
David Hausler
Committee Members who arrived after the meeting opened
Jeremy Bumagin, Rodolphe Herve
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
Karl Smith called a meeting of the Finance Committee of MCCPS Board of Trustees to order on Tuesday Dec 18, 2018 at 7:57 AM.
C.
Approve Minutes - October meeting
Artie Sullivan made a motion to approve minutes from the Monthly FinCom meeting on 10-16-18 with minor edits Monthly FinCom meeting on 10-16-18.
Jeff Barry seconded the motion.
The committee VOTED unanimously to approve the motion.
D.
Approve November Meeting Minutes
Artie Sullivan made a motion to approve minutes from the Monthly FinCom meeting on 11-20-18 Monthly FinCom meeting on 11-20-18.
Jeff Barry seconded the motion.
The committee VOTED unanimously to approve the motion.
II. Finance - Financial Statement Review
A.
Committee review of Previous Month's Financial Statements
Jeremy Bumagin arrived.
Rodolphe Herve arrived.
III. Other Business
A.
Policy Discussion
The group tentatively scheduled a meeting at an offsite locations (Wicks) for Tuesday Jan 8th at 7 PM to review the Fiscal management policies which would fulfill the annual review requirement.
B.
Strategic Plan update
Jen provided the update to the Strategic Plan process and meetings held.
With the now current need to replace the Head of School the highest priority, she anticipates there will be more focus on those efforts and that the plan will regain momentum when the vacancy is filled permanently.
With the now current need to replace the Head of School the highest priority, she anticipates there will be more focus on those efforts and that the plan will regain momentum when the vacancy is filled permanently.
C.
Other discussion points
The group discussed the planned Charter renewal process later in the year as well as the DESE scheduled site visit in October 2019.
Additionally the group discussed the ongoing efforts of the Development committee (meeting scheduled for Thursday)
IV. Closing Items
A.
Adjourn Meeting
Jeff Barry made a motion to adjourn the meeting.
Artie Sullivan seconded the motion.
The committee VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:00 AM.
Respectfully Submitted,
Karl Smith
Deferred maintenance costs have risen now that we are coming into winter the winter months. Certain areas needed to be addressed and some costs have increased.
Jeff and Bill also indicated that additional staff / personnel will be required with the increase in students with IEP's
Karl Smith noted that the line item for Legal Expenses was approved by the board for a total of up to $90K.
The group discussed overall enrollment status (227 current students) and staffing levels as well as ongoing fundraising efforts.