Finance Committee Regular Meeting Minutes

February 11, 2025, 4:15-5:15 PM

Minutes Approved

Yu Ming Charter School

Minutes

Finance Committee Regular Meeting

Date and Time

Tuesday February 11, 2025 at 4:15 PM

Location

In person (CHE Campus): 2501 Chestnut Street, Oakland, CA 94607
Zoom Meeting (see info below)
Teleconference Location 1 (MLK Campus): 675 41st Street, Oakland, CA 94609
Teleconference Location 2 (CAR Campus): 16244 Carolyn Street, San Leandro, CA 94578

The Board Finance Committee and employees of the Yu Ming Charter School shall meet in person at the location listed above. Zoom Meeting information is made available for Committee members teleconferencing and members of the public who wish to access the meeting remotely:

http://tiny.cc/02-11-25-Finance | Meeting ID: 884-6038-4629 | Password: 260672

Dial by your location: (301) 715 8592 (Washington DC), (305) 224 1968, (309) 205 3325, (312) 626 6799 (Chicago), (646) 876 9923 (New York), (646) 931 3860, (507) 473 4847, (564) 217 2000, (669) 444 9171, (669) 900 6833 (San Jose), (689) 278 1000, (719) 359 4580, (253) 205 0468, (253) 215 8782 (Tacoma), (346) 248 7799 (Houston), (360) 209 5623, (386) 347 5053, (408) 638 0968 (San Jose)

Committee Members Present

C. Green, D. Chou, L. Chang

Committee Members Absent

Y. Yeh

Guests Present

B. Badillo (remote), E. Wood, M. Andrejko, S. Wang

I. Opening Items

A. Call the Meeting to Order

D. Chou called a meeting of the Finance Committee of Yu Ming Charter School to order on Tuesday Feb 11, 2025 at 4:17 PM.

B. Record Attendance and Guests

C. Approval of Agenda

C. Green made a motion to approve the agenda.

D. Chou seconded the motion.

The committee VOTED unanimously to approve the motion.

Roll Call
Y. Yeh	Absent
C. Green	Aye
D. Chou	Aye
L. Chang	Aye

II. Invitation to the Public to Address the Committee

A. Public Comments

No members of the public were present for this item.

III. Consent Agenda

A. Approval of Consent Agenda

D. Chou made a motion to approve the consent agenda.

L. Chang seconded the motion.

The committee VOTED unanimously to approve the motion.

Roll Call
C. Green	Aye
L. Chang	Aye
Y. Yeh	Absent
D. Chou	Aye

B. Approval of Dec 10 Minutes

D. Chou made a motion to approve the minutes from Finance Committee Meeting on 12-10-24.

L. Chang seconded the motion.

The committee VOTED unanimously to approve the motion.

Roll Call
D. Chou	Aye
Y. Yeh	Absent
L. Chang	Aye
C. Green	Aye

C. Final Version of Fiscal Policies

D. Annual Audit Report Update

IV. Items of Business

A. December Financial Report

B. Badillo presented the December financial report. The group discussed.

B. Badillo noted that there was no findings in the audit report, which will be discussed at the Audit Committee on 2/25. The audit now includes the LLC.

B. LLC Quarterly Financial Reports

B. Badillo presented the June 2024 report--which are the numbers that went through audit. The LLC is pretty straightforward (loan and paying that back as a lease payment). The next report will be the December quarterly.

C. Capital Campaign Funding Update

S. Wang presented this item, including a couple of upcoming capital campaign-related efforts to decrease the financing load and continue to fundraise.

D. Line of Credit Update

E. Wood presented this update. The Line of Credit with Chase is still in progress.

E. Finance Committee Membership

Tabled.

F. CLOSED SESSION: Conference with Real Property Negotiators (Govt. Code Section 54956.8)

The committee went into closed session at 4:45 pm. The closed session finished at 5:04 pm. No action was taken.

V. Closing Items

A. Review of Action items and Future Agenda Items

B. Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 5:05 PM.

Respectfully Submitted,

L. Chang

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.