Bricolage Academy

Finance Committee

Finance Committee Meeting - Monday December 7th, 2020 @4:00 PM

Meeting Minutes

Attendance Summary

Name Status Arrival Time Departure Time
Merritt Lane present Treasurer On Time At Adjournment
Yvette Jones present chair On Time At Adjournment
Melissa Carollo present member On Time At Adjournment
Harlan Bush present member On Time At Adjournment
Norman Barnum present member On Time At Adjournment
Carolyn Chandler present member On Time At Adjournment

Welcome and Call to Order, Merritt Lane

Public Comment Expectations

Requests for public comment will be made prior to every vote taken by the Committee Members. Members of the public are invited to sign up to speak for up to two minutes and are required to keep their comments limited and relevant to the agenda item the board is voting on.

Our meetings are open to the public and public record. As such, if your comment is about a private matter, please contact the Committee Chair, Merritt Lane at

Approval of Meeting Minutes

Approval of Finance Meeting Minutes 10-26-2020

By: Carolyn Chandler Seconded by: Yvette Jones

There was no notable discussion on the Motion. 

Team Member Highlight - Keione Bastian - Data Manager

Discussion on FRL (Free or Reduced Lunch Status) and Enrollment.

Anne Chapman - CFO – introduced Keione Bastian, Bricolage Data Manager.

  • Role: To make sure data is accurate; and ensure any leader’s data needs are accessible and met (re: Demographics, student numbers, etc.)

Keione presented a state of the union from the data side:

  1. October 1 state reporting was just completed.
  2. Anticipates having MFP funding for 758 students; other 20 is LA 4, which is not accounted for in MFP.
  3. Next item will be the school enrollment process for the 2020-21 school year.  Deadline is January 29, 2021.
  4. State reporting will follow for the February 1 count.
  5. Current, ongoing project: Developing an improved report card system for Bricolage utilizing management software PowerSchool.  This will go live January 11, and will include training for teachers on how to use the platform.

Financial Packet Review, Anne Chapman

Review current financial package through October 30th.

Anne Chapman walked the Finance Committee through the Financial Packet, generated by the EdOps platform.

  1. The school will end the year with 92 days of cash.  This is above the recommended 60 days, and 35 less than last month.
  2. The forecasted net income is -$65k, which is $158k above the budget.  It yields a -0.7% gross margin.
  3. Drawdowns are scheduled to be submitted on a quarterly basis.  Next round will be submitted in mid-January.
  4. The school now forecasts 778 students for SY20-21.  The budget target was 781.
  5. The audit is 90% completed.
  6. The PPP Loan Forgiveness request was submitted on December 1, 2020.

Federal Grant Status, Darius Munchak - EdOps

Update the Finance Committee on the Federal Grants awarded and collection status.

The audit is on track.

Anne Chapman offered to share the grant tracker, created by Darius Munchak, with the finance committee to explain how the tool works.

Adjourn Meeting

adjourn meeting.

By: Melissa Carollo Seconded by: Norman Barnum

There was no notable discussion on the motion.

The Meeting was Adjourned

The meeting adjourned at approximately 5:08PM am