Motion to adjourn
By: Katie Cota Seconded by: Judith Wohl
There was no notable discussion on the motion.
The Museum School
Finance Committee
Regular Meeting - Thursday November 14th, 2019 @7:00 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Katie Cota | present chair | On Time | At Adjournment |
| Shelina Ali | present member | On Time | At Adjournment |
| Judith Wohl | present member | On Time | At Adjournment |
| Danielle Royden | present member | On Time | At Adjournment |
| Tamara Richards | present member | On Time | At Adjournment |
| Tish Craig | present member | On Time | At Adjournment |
| Laci Hood | not present member | ||
| Mike Stewart | not present member |
Additional Attendee
Lillian Galicia, TMS Vice Principal, joined the Finance Committee to learn about more about the school's finances and budgeting process.
Monthly Financials
Revenue: QBE will be over until budget amendment is approved; Other revenue included a new $2,500 grant (November adjustment: $1,450 will be moved to auction revenue; the remainder will be moved to fundraising); Lunch revenue over budget due to timing and more free/reduced lunches; Before Care revenue higher than expected. Expenses: Personnel: Staff increases continue to be over until budget amendment is approved; Sports/after school stipends higher than budgeted (end of season stipends paid); Substitutes higher than budgeted (large training that required additional substitutes). Other expenses: Medical benefits leveling off from Sept. 1 start date (Sept was low); Timing differences of budget vs. actual on big line items (Textbooks, Assessments, Computer, Technology). YTD will balance out; Extra lawn care budgeted in Sept but expensed in October (timing difference); 2nd quarterly payments for access control (timing difference); Sept & October internet charges (timing difference); Campus Engineer over budget; Tish will look at expedition costs to see if a budget amendment is needed. Balance Sheet: Accrued payroll will go up each month until January, which is a three-payroll month; deferred revenue increased due to end-of-the-year trip deposits in October.
The Meeting was Adjourned
The meeting adjourned at approximately 8:32 pm