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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

Y. Yeh called a meeting of the Finance Committee of Yu Ming Charter School to order on Friday Apr 21, 2023 at 10:33 AM.

B.

Record Attendance and Guests

C.

Approval of Agenda

J. Norman made a motion to approve the agenda.
R. De Walque seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
R. De Walque
Aye
J. Norman
Aye
Y. Yeh
Aye

II. Consent Agenda

A.

Approval of Consent Agenda

R. De Walque made a motion to approve the consent agenda.
J. Norman seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Y. Yeh
Aye
J. Norman
Aye
R. De Walque
Aye

B.

Approval of March 8 Minutes

R. De Walque made a motion to approve the minutes from Board Finance Committee Regular Meeting on 03-08-23.
J. Norman seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Y. Yeh
Aye
J. Norman
Aye
R. De Walque
Aye

III. Items of Business

A.

February Financial Report

F. Sassin presented the 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.

C.

Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 11:44 AM.

Respectfully Submitted,
Y. Yeh

THE ORDER OF BUSINESS MAY BE CHANGED WITHOUT NOTICE
Notice is hereby given that the order of consideration of matters on this agenda may be changed without prior notice.
REASONABLE LIMITATIONS MAY BE PLACED ON PUBLIC TESTIMONY
Members of the public are welcome to speak on any agenda or non-agenda items so long as the matter pertains to the domain and jurisdiction of the school board. Public testimony on non-agenda items will be heard at the opening of the meeting. Public testimony on agenda items will take place as each item is presented. The Board’s presiding officer reserves the right to impose reasonable time limits on public testimony.
REASONABLE ACCOMMODATION WILL BE PROVIDED FOR ANY INDIVIDUAL WITH A DISABILITY 
Requests for disability-related modifications or accommodations to participate in this public meeting should be made 24 hours prior to the meeting by calling (510) 452-2063 or emailing office@yumingschool.org. All efforts will be made for reasonable accommodations. The agenda and public documents can be modified upon request as required by Section 202 of the Americans with Disabilities Act.
FOR MORE INFORMATION 
A copy of the written materials which will be submitted to the Board may be reviewed by any interested persons on the Yu Ming Charter School’s website along with this agenda following the posting of the agenda at least 72 hours in advance of this meeting.
For more information concerning this agenda or to receive access to materials relating to this meeting, please contact Yu Ming Charter School at (510) 452-2063 or office@yumingschool.org.