MCCPS Board of Trustees
Minutes
Finance Committee Meeting
Date and Time
Friday December 16, 2022 at 8:00 AM
Location
At school - 17 Lime Street, Marblehead, MA 01945
For Remote Participants - Quorum must be present in person
Join Zoom Meeting
https://zoom.us/j/99625637131?pwd=cWdFODd1b2FvZ3dEOXVtbDZhNHRJUT09
Meeting ID: 996 2563 7131
Passcode: MCCPSfinco
Please note that the in-person meeting will not be suspended or terminated if technological problems interrupt the remote connection.
Committee Members Present
Andrea Barlow, Jeff Barry, Julie Santosus, Molly Teets, Peter Cohen, Rodolphe Herve, Tim Wadlow
Committee Members Absent
Karl Smith
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
Roll Call | |
---|---|
Karl Smith |
Absent
|
Andrea Barlow |
Aye
|
Rodolphe Herve |
Aye
|
Peter Cohen |
Absent
|
Molly Teets |
Abstain
|
Julie Santosus |
Aye
|
Jeff Barry |
Aye
|
Tim Wadlow |
Aye
|
D.
New Finance Committee Member appointment
Roll Call | |
---|---|
Rodolphe Herve |
Aye
|
Jeff Barry |
Aye
|
Julie Santosus |
Aye
|
Karl Smith |
Absent
|
Andrea Barlow |
Aye
|
Tim Wadlow |
Aye
|
Molly Teets |
Aye
|
Peter Cohen |
Aye
|
II. Financial Statements Discussion
A.
Committee review of Previous Month's Financial Statements
III. Other Business
A.
Capital Project Reserve Fund
The Finance Committee, at the request of Jeff Barry and Peter Cohen, discussed the opportunity to open a Capital Project Reserve account to support improvements made to the school. Expenditures in this account would have to track to the annual report filed with DESE.
It is understood that funds deposited in this account may only be used for capital expenditures purposes. At this point, no monies will be deposited on this account but given expected paperwork and time lag involved in its opening, MCCPS management suggested to open this account immediately.
Roll Call | |
---|---|
Rodolphe Herve |
Aye
|
Jeff Barry |
Aye
|
Molly Teets |
Aye
|
Karl Smith |
Absent
|
Tim Wadlow |
Aye
|
Julie Santosus |
Aye
|
Peter Cohen |
Aye
|
Andrea Barlow |
Aye
|
IV. Closing Items
A.
Adjourn Meeting
- Biography Molly Teets.pdf
- FinCom notes Nov 22.pdf
- MCCPS-Nov-2022-Financial Statements v1.xlsx
The discussion tracked with the notes provided by Jeff Barry.