Approve minutes from Sept. meeting
By: Andrew Tashiro Seconded by: Ashley Rowland
There was no notable discussion on the motion.
The Museum School
Finance Committee
Regular Meeting - Tuesday October 10th, 2023 @7:00 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Tish Craig | present Non-voting Administration | On Time | At Adjournment |
| Andrew Tashiro | present chair | On Time | At Adjournment |
| Danielle Royden | present member | On Time | At Adjournment |
| Ashley Rowland | present member | On Time | At Adjournment |
| Dan Waltzer | not present member | ||
| Brad Summers | present secretary | On Time | At Adjournment |
| Hunter Fountain | present member | On Time | At Adjournment |
Welcome and Call to Order
Finance Committee Chair and Governing Board Treasurer, Andrew Tashiro, will call the public budget input hearing to order
Approve Minutes
The Finance Committee met on Monday September 11th, 2023 @7:00 PM for what was scheduled to be a 0 hours and 47 minutes long meeting. Present: Tish Craig, Andrew Tashiro, Danielle Royden, Ashley Rowland, Dan Waltzer, Brad Summers, Hunter Fountain Not Present: none The members considered the following items: 1. Welcome and Call to Order 2. Approval of Agenda 3. Discussion of Capital Expenditure policy 4. Monthly Financials 5. Audit Update 6. Adjourn The committee considered 3 motions, of which 3 passed, and 0 failed: 1. Approve minutes from prior meeting (passed) 2. Approve agenda (passed) 3. Motion to Adjourn at 7:52 pm (passed) The meeting adjourned at 7:53PM
Approval of Agenda
So that there is agreement between board members on the agenda, and the amount of time spent on the meeting, the board shall vote to approve an agenda for the meeting. To the best of its ability, it will follow that agenda, and allow for the chair to move the board through the agenda as specified.
Approve the agenda as submitted
There was no notable discussion on the motion.
Approve agenda: 2 major items are draft audit repot and monthly financials
By: Andrew Tashiro Seconded by: Danielle Royden
There was no notable discussion on the motion.
Discuss Draft Audit Report
Finance committee will discuss questions and comments concerning the draft audit repot.
- Recommend moving ~$70k for roof to deferred revenue (cash receipt from foundation)
- Some members requested further details of AR and deferred revenue schedules
- Question about ERC funds and CARES Act breakout p.10
- Discussion of pension timing differences with respect to trail balances p.11
- Question about capital outlay (capital projects) p. 12
- Typo "total" p. 13
- p.23: TRS proportions was an increase, not a decrease
- Request for budget to actual excel file
- Tabling a motion to vote on changes pending further information.
Monthly Financials
Review monthly financials:
- Discussed September budget versus actuals.
- No material variances encountered.
- Discussion of appropriate target cash balance to maintain in operating account.
- ERTC receipt has boosted balances.
Adjourn
Committee Meeting Adjourned
Adjourn meeting
By: Andrew Tashiro Seconded by: Danielle Royden
There was no notable discussion on the motion.
The Meeting was Adjourned
The meeting adjourned at approximately 8:24 pm
Motion to adjourn
By: Andrew Tashiro Seconded by: Danielle Royden
There was no notable discussion on the motion.