In light of the ongoing COVID-19 coronavirus outbreak, Governor Baker issued an emergency Order on March 12, 2020, allowing public bodies greater flexibility in utilizing technology in the conduct of meetings under the Open Meeting Law. This committee makes a motion to accept this Executive Order for this meeting of the Finance Committee, on April 24, 2020.

Motion made by Jeff Barry, and seconded by Julie Santosus

Bulk of discussion followed the notes provided by Jeff Barry ahead of the meeting.
No significant unexpected items impacted the financials during March 2020.
School enrollment remains 208. We're waiting to see if we can include 2 additional students who have participated in our Zoom classes as they enrolled after the school closed. (2 in, 1 out for a potential net effect of +1)

The school's line of credit of $300K was renewed and is valid until 12/31/2020. It is currently untapped.

The quarterly water bill increased significantly ($5K Vs $2K) and is under investigation (looking for potential leak)

Because food services are closed, the school's food inventory will be checked and any perishables donated to families, staff or charities in the community.

 

The FY 2021 budget is a work in progress as much uncertainty remains regarding PPE levels  next year.

A key imperative from the Head of School is to compensate staff fairly and adequately compared to local public school districts. Proposal for staff compensation will be discussed with Treasurer and Board Chair separately, prior to staff conversations in May 2020. Staff turnover is thankfully limited.

Understanding that this is a first draft, the Finance Committee voted that the draft 2021 budget was fine to be sent to the Board for review.