No members of public were in attendance nor made any comments.

Enrollment remained steady at the end of the school year. Next year's enrollment numbers are currently projected as follows:
K - 45, 1 - 63, 2-46, 3-36, 4-40, 5-19, and 6-19, for total enrollment of 268. 

The committee asked for clarification on several items including the exact location of the building, whether there would be co-tenants, how much janitorial service would be included with the rent, and signage restrictions. 

The committee discussed multiple options provided by BMC Services. All options will provide savings in monthly premiums. A few outstanding questions remained regarding option #3 and #4. 

Charter Choices provided a one year option for $70,000 or a 3-year option for $65,000 each year. In light of the transition to a new director, committee members felt a one year contract would better suit our current situation to allow the new director more flexibility in choosing how to structure and meet our business needs.

Ryan outlined several steps Charter Choices will take in onboarding the new director at Vida.

The end of year operating budget looks healthy with a $14,000 deficit. Legal expenses were our biggest increase, with a 250% increase. Mandy Kittelberger will make note of the increase and prepare a statement regarding our use of legal services at an upcoming board meeting.

In light of the intentional spending down of our fund balance, Charter Choices is recommending that we dissolve the old resolutions reserving our funds for various purposes and create a new resolution which better reflects how we intend to use the fund balance in the future. He will work with Cynthia to draft a resolution to be put forth at Wednesday's full board meeting.

Committee members discussed ways to better provide oversight of contracts that are on-going and pay-as-you-go. Ryan explained that initial oversight of this spending lives with administration, but in many schools, policies are in place requiring board approval if budget amounts for specifics vendors or budget line items are exceeded.

Additionally, when negotiating contracts, Ryan suggested adding a not-to-exceed clause and requiring vendors to bill within 60 days of services rendered in order to provide better oversight.

Finally, he mentioned the idea of a "retainer" instead of pay-as-you go so that costs would not be so variable and unpredictable. All options will be considered moving forward as new contracts are negotiated this year.

Committee members discussed converting the monthly treasurer's report to an administrative office responsibility in an effort to provide better oversight of spending and budget monitoring. The office would create its own format based on examples provided by previous treasurer's reports and templates.

Lynn will add this item to the finance committee annual calendar and it will be approved in the fall once new committees are formed.

Ryan recommended consolidating bank accounts in an effort to create efficiencies in their office with regards to tracking our spending and reconciling accounts. Vida currently has 3 accounts at PNC: General Operating, Petty Cash, and Student Activities. CC tracks all fiscal activity with the accounting software, isolating programs and associated expenditures and revenues. It is not necessary to have separate bank accounts for these purposes because CC already isolates the activity with the accounting.
 

Cynthia will purchase her school laptop at her own expense. The fee will be the original purchase price minus depreciation (roughly $2000 - $800 = $1200). This will allow Vida to purchase a new laptop for the incoming director that suits her needs and preferences.

The committee did not have final information on  quotes and will table this for a future meeting.

The committee did not have final information on  quotes and will table this for a future meeting.