MCCPS Board of Trustees
Minutes
Finance Committee Meeting
Date and Time
Friday December 18, 2020 at 8:00 AM
Committee Members Present
Artie Sullivan (remote), Jeff Barry (remote), Julie Santosus (remote), Karl Smith (remote), Rodolphe Herve (remote)
Committee Members Absent
NDack Toure, Richard Doron
Guests Present
Peter Cohen (remote), Susan Hauck (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
Julie Santosus called a meeting of the Finance Committee of MCCPS Board of Trustees to order on Friday Dec 18, 2020 at 8:03 AM.
Julie Santosus made a motion to open the meeting.
Jeff Barry seconded the motion.
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 Dec 18, 2020. The committee VOTED to approve the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| Julie Santosus |
Aye
|
| Artie Sullivan |
Aye
|
| Karl Smith |
Aye
|
| NDack Toure |
Absent
|
| Rodolphe Herve |
Aye
|
| Susan Hauck |
Aye
|
| Richard Doron |
Absent
|
| Jeff Barry |
Aye
|
| Peter Cohen |
Aye
|
C.
Approve Outstanding previous Finance committee meeting minutes
The minutes from the October, November meetings are outstanding and will be approved at the next Finance Committee meeting in January.
II. Finance - Financial Statement Review
A.
Committee review of Previous Month's Financial Statements
Jeff Barry led a discussion of the November YTD financials based on the notes that he provided.
In summary, the school keeps receiving tuition payments from the state that reflect a higher enrollment of 222 students (Vs actual of 212 currently and 208 at start if the year). Therefore, as in 2019-2020 results, the MCCPS accounts will continue to show an abnormal surplus before normalizing in the second half of the year.
We also note that the school is facing additional expenses compared to its budget, related to additional student support required and equipment breakdowns (kitchen, HVAC).
The surplus from last year, and potential grants to which MCCPS applied may help offset some of these additional expenditures.
In summary, the school keeps receiving tuition payments from the state that reflect a higher enrollment of 222 students (Vs actual of 212 currently and 208 at start if the year). Therefore, as in 2019-2020 results, the MCCPS accounts will continue to show an abnormal surplus before normalizing in the second half of the year.
We also note that the school is facing additional expenses compared to its budget, related to additional student support required and equipment breakdowns (kitchen, HVAC).
The surplus from last year, and potential grants to which MCCPS applied may help offset some of these additional expenditures.
III. Closing Items
A.
Adjourn Meeting
Artie Sullivan made a motion to adjourn the meeting.
Julie Santosus seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| Jeff Barry |
Aye
|
| Rodolphe Herve |
Aye
|
| Peter Cohen |
Aye
|
| NDack Toure |
Absent
|
| Susan Hauck |
Aye
|
| Richard Doron |
Absent
|
| Julie Santosus |
Aye
|
| Artie Sullivan |
Aye
|
| Karl Smith |
Aye
|
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,
Rodolphe Herve
Documents used during the meeting
- Nov FinCom notes.pdf
- MCCPS-Nov-2020-Financial Statements v1.xlsx
- MCCPS Development Update, December 2020.pdf