MCCPS Board of Trustees
Minutes
Finance Committee Monthly Meeting
Date and Time
Friday May 26, 2023 at 11:00 AM
Location
At school - 17 Lime Street, Marblehead, MA 01945
For Remote Participants - Quorum must be present in person
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Committee Members Present
Jeff Barry, Julie Santosus, Molly Teets, Rodolphe Herve, Stephanie Brant
Committee Members Absent
Tim Wadlow
Guests Present
Lindsay Smith
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
| Roll Call | |
|---|---|
| Rodolphe Herve |
Aye
|
| Tim Wadlow |
Absent
|
| Jeff Barry |
Aye
|
| Julie Santosus |
Aye
|
| Stephanie Brant |
Aye
|
| Molly Teets |
Aye
|
II. Financial Statements Discussion
A.
Committee review of Previous Month's Financial Statements
B.
Discussion on 2023/2024 Budget
The Finance Committee reviewed a draft of the 2023-2024 School Year budget, which included a revised Leadership Team structure, as recently appointed by the Interim Head of School.
The salary expense line item is expected to be slightly reduced as a result of the proposed structure.
The budget, targeted to be formally reviewed and approved by FinCom next month, assumes enrollment of 210 students for next year.
The Finance Committee reviewed a draft of the 2023-2024 School Year budget, which included a revised Leadership Team structure, as recently appointed by the Interim Head of School.
The salary expense line item is expected to be slightly reduced as a result of the proposed structure.
The budget, targeted to be formally reviewed and approved by FinCom next month, assumes enrollment of 210 students for next year.
The Finance Committee discussed the school's financials, which appear on a good footing. The discussion tracked with the notes provided by Jeff Barry ahead of the meeting.