Yu Ming Charter School
Minutes
Finance Committee Special Meeting
Date and Time
Friday April 21, 2023 at 10:30 AM
Location
- In person (MLK Jr. Campus): 675 41st Street, Oakland, CA 94609
- Zoom Meeting
- Teleconference Location 1 (ALC Campus): 1086 Alcatraz Avenue, Oakland, CA 94608
- Teleconference Location 2 (CAR Campus): 16244 Carolyn Street, San Leandro, CA 94578
- Teleconference Location 3: 2688 Becard Ct, Pleasanton, CA 94566
- Teleconference Location 4: 35 Northampton Avenue, Berkeley, CA 94707
The Board of Directors (“Board”) and employees of the Yu Ming Charter School shall meet in person at the location listed above.
Zoom Meeting information is made available for Directors teleconferencing and members of the public who wish to access the meeting remotely:
https://yumingschool.zoom.us/j/82220543594?pwd=cXBSb3VneTNyTUNMeGgwcWsreGFlUT09
Meeting ID: 822-2054-3594
Password: 589739
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Committee Members Present
J. Norman (remote), R. De Walque, Y. Yeh (remote)
Committee Members Absent
None
Guests Present
E. Wood (remote), F. Sassin (remote), M. Andrejko, S. Park
I. Opening Items
A.
Call the Meeting to Order
B.
Record Attendance and Guests
C.
Approval of Agenda
Roll Call | |
---|---|
J. Norman |
Aye
|
Y. Yeh |
Aye
|
R. De Walque |
Aye
|
II. Consent Agenda
A.
Approval of Consent Agenda
Roll Call | |
---|---|
Y. Yeh |
Aye
|
J. Norman |
Aye
|
R. De Walque |
Aye
|
B.
Approval of March 8 Minutes
Roll Call | |
---|---|
J. Norman |
Aye
|
R. De Walque |
Aye
|
Y. Yeh |
Aye
|
III. Items of Business
A.
February Financial Report
B.
Fiscal Policies Review
The policy requires further review and will be presented at the next Finance Committee meeting.
C.
Investment Policy Review
The policy isn't ready for review. It will be shared at a future committee meeting.
D.
Gift Acceptance Policy Review
The Committee discussed the policy, which will be brought to the Funds Committee for further discussion before Board approval.
E.
Creation of LLC
S. Park presented the LLC structure that will be agendized for Board vote at the April 27 regular meeting. The LLC is formed for the exclusive purpose of holding title to property. The governmental entity California School Finance Authority supports this structure.
F.
Creation of Restricted Account for Capital Funds
There was an initial discussion about this item. Further discussion is needed.
G.
Purchase of Real Property
Yu MIng is getting closer to a possible purchase opportunity. A board meeting will be scheduled as needed.
IV. Closing Items
A.
Review of Action items and Future Agenda Items
- Fiscal Policies Review
- Creation of Restricted Account for Capital Funds
- Creation of LLC Update
- FY23-24 Draft Budget
B.
Schedule Next Committee Meeting(s)
The next Finance Committee Meeting on May 22, 4:00pm.
F. Sassin presented the report.