MCCPS Board of Trustees
Minutes
Finance Committee Meeting - Joint Meeting with the Board
Date and Time
Wednesday October 21, 2020 at 8:00 AM
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 October 21, 2020.
Committee Members Present
Artie Sullivan (remote), Jeff Barry (remote), Julie Santosus (remote), Karl Smith (remote), NDack Toure (remote), Peter Cohen (remote), Richard Doron (remote), Rodolphe Herve (remote)
Committee Members Absent
None
Guests Present
Collen Dalfonso (remote), Ian Hunt (remote), James Rogers (remote), Jessica Xiarhos (remote), Rebecca Whidden (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
Rodolphe Herve called a meeting of the Finance Committee of MCCPS Board of Trustees to order on Wednesday Oct 21, 2020 at 8:02 AM.
C.
Approve Outstanding previous Finance committee meeting minutes
Richard Doron made a motion to approve the minutes from Finance Committee Meeting on 09-23-20.
Julie Santosus seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| Richard Doron |
Aye
|
| Peter Cheney |
Absent
|
| Artie Sullivan |
Aye
|
| Karl Smith |
Aye
|
| Rodolphe Herve |
Aye
|
| James Rogers |
Abstain
|
| Ian Hunt |
Abstain
|
| Peter Cohen |
Aye
|
| NDack Toure |
Aye
|
| Julie Santosus |
Aye
|
| Paul Baker |
Absent
|
| Jeff Barry |
Aye
|
D.
Presentation of MCCPS Audit Report
II. Finance - Financial Statement Review
A.
Committee review of Previous Month's Financial Statements
Jeff Barry provided an update on the ongoing financial status of the school.
And Dr. Peter Cohen discussed the enrollment figures and a number of the response plans for the ongoing pandemic.
Additionally, they noted the following:
Updates with the PTO were provided, and the group noted the recycling program to be held over the week-end
Becca Whidden updated the group regarding the facilities sub-committee.
And there have been some discussions with Eastern Bank regarding re-financing of the loan for the purchase of the building.
And Dr. Peter Cohen discussed the enrollment figures and a number of the response plans for the ongoing pandemic.
Additionally, they noted the following:
- the updated HVAC system is up and running
- touchless technology for faucets in building have been installed
- the primary concern is to keep population healthy and that safety is the priority
- there has been no word from FEMA regarding the grants / reimbursements requested
- a new school adjustment counselor has been hired
- SPED software - annual software license has been purchased
- Board On Track subscription fee will need to be paid in October
- maintenance costs will tick up a bit with new tile floors installed in September, floor buffing, and fire inspection fee
Updates with the PTO were provided, and the group noted the recycling program to be held over the week-end
Becca Whidden updated the group regarding the facilities sub-committee.
And there have been some discussions with Eastern Bank regarding re-financing of the loan for the purchase of the building.
III. Other Business
A.
Other discussion points
Jeff Barry made a motion to Adjourn the meeting.
Artie Sullivan seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| Artie Sullivan |
Aye
|
| Richard Doron |
Aye
|
| Julie Santosus |
Aye
|
| Peter Cheney |
Absent
|
| Karl Smith |
Aye
|
| Paul Baker |
Absent
|
| Rodolphe Herve |
Aye
|
| NDack Toure |
Aye
|
| Jeff Barry |
Aye
|
| Peter Cohen |
Aye
|
IV. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:07 AM.
Respectfully Submitted,
Karl Smith
Documents used during the meeting
- Marblehead Debt Covenants (1).pdf
- FY20 draft audit.pdf
- FinCom notes SEPTEMBER.docx
- MCCPS-Sep-2020-Financial Statements v1.xlsx
She explained the audit opinion, and reviewed the financial statement, relevant ratios, and noted there were no comments or findings to be communicated to the Board.
She noted that any COVID 19 funding received by the school would be considered a 'subsequent event".
Given the status of the audit work and the Board's ability to vote on the statements, there should be no problems with the timing of the filing - scheduled for December 2nd
The group commended the Business Manager, Jeff Barry for his work, and for the lack of any findings or issues presented by our auditors.