No member of the  public attended.

NMcGowan and Josef Brandauer presented enrollment numbers. Over the last month, enrollment has remained relatively stable at 244 with 1 student leaving Vida.

KCorcoran provided brief update on Vida finances. Enrollment continues to be down while expenditures are down somewhat as well.

We are still projecting a deficit which would have to be covered by the financial reserve safety net. This is mostly due to lower than expected enrollment which is partly offset by some personnel savings.

Enrolling and retaining students is a critical component of Vida's continued success.

NMcGowan will confer with LLeonard about her desire to improve monitoring of current expenditures within categories. Potential options may include coding individual purchases by category. MDavis also expressed a desire to clarify spending in real-time.

Our current auditing firm completed their field work and is about to complete its work. They are not eligible to perform another audit next year. The final report is scheduled to arrive in December and will be discussed in Finance meeting and the full board meeting on 12/19. According to KCorcoran, no major issues were reported to Charter Choices thus far.

Next audit will start until next September or October. A new auditor is selected in January to March by RFP.
 

Martha Davis presented details of the new Vida Marketing plan.

MDavis updated committee on previous conversations
KCorcoran agreed to help in a conversation with staff/teachers to update them on a budget conversation with a board member and/or ED. JBrandauer will coordinate with KCorcoran.

MDavis reiterated the importance of an equitable pay structure for Vida staff.

This item was deferred until the next meeting.

Upcoming items on the finance calendar (audit, RFP for new auditor) were briefly discussed.

MDavis reported that this issue was resolved some time ago.

NMcGowan reported that the rollover change date has been approved by the insurance company. An acknowledgment letter is to be sent and signed. New date for dental rollover is 7/1/17.

KCorcoran briefly discussed federal programs that are reflected in our budget (title 1, 2, IDA). These budget operate on a federal fiscal year. Major deadlines: 1) submit application: 7/1, 2) final report due in October for previous the year. KCorcoran reported that the report was submitted w/out issues.

Most funds coming to Vida are in the IDA category (via state-->IEU funds); title 1 predominantly goes towards salaries/benefits for staff.

Every 3 years, federal monitoring is conducted to make sure title money received is handled appropriately. KCorcoran will update us on next review during the December Finance meeting.
 

The committee briefly reviewed upcoming issues.