Green Dot Public Schools

Minutes

Audit Committee Meeting

Tax Return Review & F&A Policy Review

Date and Time

Wednesday March 12, 2025 at 1:00 PM

Location

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Green Dot Public Schools California Board meetings are open to the public. This meeting will be held at the California Home Office, 1149 S. Hill Street, Suite 600, Los Angeles, CA, 90015 on Wednesday, March 12, 2025 at 1:00pm.  Teleconference locations accessible to the public include Green Dot Public Schools in California, 1411 N. Detroit St., LA 90046, 2314 24th Street, Santa Monica, 90405.

 

Join from a PC, Mac, iPad, iPhone or Android device:

 

Please click this URL to join. https://greendot-org.zoom.us/j/85392558804

 

Or One tap mobile:

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If you need special assistance, disability-related modifications or accommodations, including auxiliary aids or services, in order to participate in the public meetings of Green Dot’s governing board, please contact Monica Pajar at 626 675-0107.  Notification 72 hours prior to the meeting will enable Green Dot to make reasonable arrangements to ensure accommodation and accessibility to this meeting.  Upon request, Green Dot shall also make available this agenda and all other public records associated with this meeting in appropriate alternative formats for persons with a disability.

 

Public comment can either be submitted to GreenDotCABoardMeeting@greendot.org by 1:00 pm on March 12, 2025, or can be submitted after the start of the meeting by raising your hand via zoom during the public comment section. Members of the public can submit statements in English or Spanish. Statements received by 1:00 p.m. will be read out loud during the Board meeting in the order they were received and will be limited to 3 minutes per submission. The Board has allocated a total of 30 minutes for public comment. Anything exceeding the 30 minutes allocated for public comment will not be read during the Board meeting and will be shared with Green Dot California Board members via email.

 

To sign up for public comment, please enter your name on this form. 

Committee Members Present

Jon Goodman (remote), Rita Ravindra (remote)

Committee Members Absent

None

Guests Present

Kim Hunwardsen (remote), Kim Nelson (remote), Mike Lopez (remote), Monica Pajar (remote), Vanessa Quiroz (remote)

I. Opening Items

A.

Call the Meeting to Order

Jon Goodman called a meeting of the Audit Committee Committee of Green Dot Public Schools to order on Wednesday Mar 12, 2025 at 1:05 PM.

B.

Record Attendance and Guests

II. Public Comment

A.

Public Comment

There was no public comment submitted.

III. Approve Consent Agenda

A.

Approve Minutes

Rita Ravindra made a motion to approve the minutes from Audit Committee Meeting | Financial Statement Review on 11-14-24.
Jon Goodman seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Jon Goodman
Aye
Rita Ravindra
Aye

IV. 2023 Tax Returns

A.

2023 Tax Returns

Mr. Lopez provided the board with an overview of Federal and State Tax Returns and stated that as a tax-exempt public benefit corporation, GDPS is required to file both Federal and State returns annually.

 

Mr. Lopez informed the board that GDPS staff have completed their review of the tax returns with any questions and feedback having been resolved by the auditing firm, Eide Bailly.

 

 

B.

Recommend to Approve FY23 Tax Returns

Mr. Lopez requested the board recommends to Approve the FY23 Tax Returns. 

 

 

Jon Goodman made a motion to Vote to Recommend to Approve FY23 Tax Returns.
Rita Ravindra seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Rita Ravindra
Aye
Jon Goodman
Aye

V. 2025 Audit Proposal

A.

2025 Audit Proposal

Mr. Lopez reminded the board that GDPS's auditing firm, Eide Bailly has been serving GDPS since 2011 and that the current audit partner has been overseen the audit process for the last three years.

 

Mr. Lopez informed the board that Eide Bailly has submitted an audit proposal for the upcoming year which needs to be reviewed and endorsed by GDPS's audit committee before being presented to the full GDPSC board for approval.  

 

Mr. Lopez presented the board with this the cost of 2025 audit.

B.

Recommend to Approve Audit Contract

Jon Goodman made a motion to Approve the FY25 Audit Contract.
Rita Ravindra seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Jon Goodman
Aye
Rita Ravindra
Aye

VI. FY26 F&A Policies

A.

FY26 F&A Policies

Mr. Lopez reviewed the recommended changes to Finance and Accounting Policies with the board.  

B.

Recommend to Approve FY26 F&A Policies

Jon Goodman made a motion to Recommend to Approve FY26 F&A Policies.
Rita Ravindra seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Jon Goodman
Aye
Rita Ravindra
Aye

VII. Update on Investments

A.

Update on Investments

Mr. Lopez updated the board on GDPS's investment fund stating that the investment yield as decreased due to interest rate cuts.  

VIII. 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 1:40 PM.

Respectfully Submitted,
Jon Goodman