Motion to adjourn
By: Katie Cota Seconded by: Tamara Richards
There was no notable discussion on the motion.
The Museum School
Finance Committee
Regular Meeting - Tuesday April 9th, 2019 @7:00 PM
Meeting Minutes
Attendance Summary
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Katie Cota | present chair | On Time | At Adjournment |
| Shelina Ali | not present member | ||
| Judith Wohl | present member | On Time | At Adjournment |
| Josh Horne | not present member | ||
| Danielle Royden | present member | On Time | At Adjournment |
| Tamara Richards | present member | On Time | At Adjournment |
| Tish Craig | present member | On Time | At Adjournment |
Tax Return Review
Katie got the draft of the tax return on the day of the meeting, which she circulated the same day. Tish also circulated the previous year's tax return for comparison purposes. The committee will review the tax return over the next three weeks. Committee will submit notes via collaborative Google doc by April 21 and meet April 23 to go through the notes.
Media Center Funding
Danielle updated the committee on the available funds from the Foundation. As a result, the expected use of the LOC decreased in the media center cashflow projects.
A March QBE contribution was made of $50,000.
Alan and Josh gave an update during the most recent board meeting. Tish will update the media center cashflow projections with their updates. Josh/Alan will be invited to join the next few finance committee meetings in order to confirm the committee's understanding of the cashflow needs, including clarification of when remaining funds are due for the furniture that has already had a deposit paid.
Monthly Financials
Revenue: Other Revenue: timing difference due to people paying late lunch bills from the lunch software going down.
Expenses: Payroll: 3 payroll month; Instruction and Services: under due to timing differences
Balance Sheet: Prepaid Expenses: decreases due to payroll timing; Accounts Payable lower due to paying bills early ahead of Spring Break closure
2019-2020 Draft Budget Review
QBE funding: expected increase of 4.14% over last year. Actual QBE funding will not be determined until Dekalb County finalizes the district allocation available (around June 10th).
Personnel: increases due to additional positions; fluctuations will result due to Dekalb's final salary schedule, which has yet to be released.
Facilities: need input from Facilities Committee for additional information regarding facilities costs; Tish will coordinate this meeting
Board Development and Student Recruitment: check in Katherine regarding these committees' budgets in comparison to previous years' spending.
Tish will circulate revised budget by April 29 and committee will circulate comments by May 6 for discussion during the May 14th meeting and presentation to the board on May 21. The committee will have two public meetings before the May 14th and May 21st meetings to serve as budget hearings, to be posted by May 7.
The Meeting was Adjourned
The meeting adjourned at approximately 8:33 pm