MCCPS Board of Trustees
Minutes
Finance Committee Monthly Meeting
Date and Time
Thursday December 16, 2021 at 8:00 AM
Location
ZOOM
Join Zoom Meeting
https://zoom.us/j/99625637131?pwd=cWdFODd1b2FvZ3dEOXVtbDZhNHRJUT09
Meeting ID: 996 2563 7131
Passcode: MCCPSfinco
Committee Members Present
Andrea Barlow (remote), Artie Sullivan (remote), Jeff Barry (remote), Julie Santosus (remote), Karl Smith (remote), NDack Toure (remote), Richard Doron (remote), Rodolphe Herve (remote)
Committee Members Absent
None
Guests Present
Peter Cohen (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 Thursday Dec 16, 2021 at 8:07 AM.
Jeff made a motion to open the meeting; Julie seconded the motion.
C.
Approve minutes
Jeff Barry made a motion to approve the minutes from Finance Committee Monthly Meeting on 11-17-21.
Artie Sullivan 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
Jeff reviewed the FinCom Notes from Nov 2021 and highlighted the following:
- Check from MA Commonwealth is steady at $305,762 with enrollment at 22
Revenue
- the musical grossed ~$2K while giving Tuesday and the new Fund a need page brought in ~$2.5K.
Expenses
- $20K Teach Force was assigned to the appropriate grant.
- Office expansion/HVAC were capitalized.
- Journal entry for FY21 payroll accural now builds monthly on the balance sheet.
Grant Updates
- We were awarded $15K state grant that will help reimburse some summer school expenses.
- $5.5K from the MA Cultural Council earmarked for the mural project.
Other
We lost our main contact at the bank (East Boston Savings to Rockland Trust) although Dave Lawson remains at this time.
The state is hashing out a ~$4B spending bill to disperse Federal Covid Funds. More details to follow...
Discussed using 224 as enrollment target for next years projected budget.
III. 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 9:00 AM.
Respectfully Submitted,
Richard Doron
Documents used during the meeting
- FinCom notes November 2021.docx
- MCCPS-Nov-2021-Financial Statements v1.xlsx