Finance Committee - Documents

ELPS Finance Committee Meeting Minutes

Minutes of the Finance Committee of the East Lansing Board of Education East Lansing High School – Board Meeting 509 Burcham Drive, East Lansing, MI

May 22, 2025

1. Opening of Meeting

a. Finance committee member Kath Edsall called the meeting to order at 10:02 a.m.

b. Roll call.

i. Members present: Kath Edsall, Estrella Torrez and Abbie Tykocki.

ii. Members absent: None.

iii. Non-members present: Dori Leyko, Superintendent, and Lisa Allen, Director of Finance.

c. Approval of agenda: May 22, 2025

i. Kath Edsall proposed an amendment to the agenda to add to “Items of Discussion”, c. Financial impact of the closure of Red Cedar 3rd-grade classroom.

ii. Moved by Abbie Tykocki and supported by Estrella Torrez, to approve the May 22, 2025, agenda with the addition of the proposed amendment of item c. The motion carried, 3-0.

d. Approval of minutes: May 12, 2025

i. Moved by Estrella Torrez and supported by Abbie Tykocki that the minutes of the May 12, 2025, meeting be approved as presented. The motion carried, 3-0.

2. Public Comment

a. None

3. Items of Discussion

a. Reviewed the proposed 2024-25 final budget revision. Discussed the additional adjustments made since the review on May 12, 2025.Since the last meeting, the May state aid payment has been received, and an additional review of remaining expenses to be incurred until June 30 has been completed. The proposed final budget revision for the general fund shows a draw from the fund balance of about $ 1.1M.

b. Reviewed the proposed 2025-26 budget.

i. For the general fund, in addition to items discussed at the May 12, 2025, meeting, other revenue and expense expectations for the upcoming year were reviewed. The draw from fund balance was estimated at about $1.5M.

ii. The Food Service fund was reviewed, and the maximum fund balance allowed was discussed.

iii. The Student/School Activity Fund was reviewed.

c. Financial impact of the closure of Red Cedar 3rd-grade classroom

i. The average total compensation for an elementary teacher was discussed.

ii. The elementary class sizes for all schools and the schools of choice (SOC) process were discussed.

4. Adjourned at 11:25a.m.

ELPS Finance Committee Meeting Minutes

Minutes of the Finance Committee of the East Lansing Board of Education East Lansing High School – Board Meeting 509 Burcham Drive, East Lansing, MI 

February 19, 2025

1. Opening of Meeting

• Finance committee member Kath Edsall called the meeting to order at 1:05 p.m.
• Roll Call
  • Members present: Kath Edsall, Estrella Torrez, and Abbie Tykocki
  • Non-members present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Estrella Torrez and supported by Abbie Tykocki, the agenda for the February 19, 2025, Finance Committee meeting be approved as presented. The motion carried 3-0.
•  Approval of Minutes: January 6, 2025
  • Moved by Estrella Torrez and supported by Abbie Tykocki, the minutes of the January 6, 2025, Finance Committee meeting be approved as presented. The motion carried 3-0.

2. Public Comment

• None

3. Items of Discussion

a. Consensus Revenue Estimating Conference (CREC) held January 10, 2025. Received information on the revenue forecasts for Michigan’s General Fund and School Aid Fund.
b. Governor Whitmer’s 2025-26 budget. Received an overview of the Governor’s proposed education funding.
c. ISD report with all 6/30/24 fund balances. Reviewed the report of the fund balances of the various districts within Ingham County ISD.
d. Reviewed and updated the proposed 2025-26 budget calendar.
e. Reviewed and highlighted the updates presented in the 2024-25 First Budget Revision.
f. Received information provided by Clark Construction on their proposed awards for several construction categories from Bid Package #1.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 2:10 p.m.

ELPS Finance Committee Meeting Minutes

Minutes of the Finance Committee of the East Lansing Board of Education East Lansing High School – Board Meeting 509 Burcham Drive, East Lansing, MI 

January 6, 2025

1. Opening of Meeting

• Finance committee member Kath Edsall called the meeting to order at 1:00 p.m.
• Roll Call
  • Members present: Kath Edsall and Estrella Torrez
  • Non-members present: Dori Leyko (Superintendent), Rich Pugh (Director of Finance & Operations), and Lisa Allen (Director of Finance)
• Approval of Agenda
  • Moved by Estrella Torrez and supported by Kath Edsall, the agenda for the January 6, 2025 Finance Committee meeting be approved as presented. The motion carried 2-0.
• Approval of Minutes: December 2, 2024
  • Moved by Estrella Torrez and supported by Kath Edsall, the minutes of the December 2, 2024 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

• None.

3. Items of Discussion

a. Received information on the Consolidated Grant Final Allocations (Titles I, II, III, and IV). The final allocation increased by $100,448 from the original $558,898.

b. Received information on Section 31aa Supplemental Award Estimate.

• The State approved an additional $125M after the original State budget was passed.
• East Lansing Public Schools (ELPS) estimated award for 31aa is $416,048, an increase of $346,707 from the original amount of $69,341.

c. Received and reviewed the quote from Stifel for estimated the underwriting fees for 2nd and final bond series for the 2024 bond and the bond refunding of the 2015 bond. The estimated fee is $23,048.25 for expenses.

d. Received information on the possible annual financial impact of HB 6058. For 2024-25, the impact is very minimal.

• The Governor has not signed the bill, and it doesn’t appear to have retroactive implementation.
• The bill would not impact those covered by a collective bargaining agreement until the agreement expires.
• ELPS is an 80/20 district, with the change from an 80% maximum to an 80% minimum contribution; the majority of change in contribution would be for individuals on the Choices plans.

e. Additional Items

• Work has begun on the first revision of the 2024-25 budget.
• A resolution will be needed to update the financial institution signatory.
• After the organization meeting, the Finance Committee meeting schedule will need to be set. 

4. Adjournment 

• Kath Edsall declared the meeting adjourned at 1:20 p.m.

ELPS Finance Committee Meeting Minutes

Minutes of the Finance Committee of the East Lansing Board of Education East Lansing High School – Board Meeting 509 Burcham Drive, East Lansing, MI 

December 2, 2024

1. Opening of Meeting

a. Finance Committee member Kath Edsall called the meeting to order at 1:02 p.m.

b. Roll Call

1. Members Present: Kath Edsall and Estrella Torrez

2. Excused Absences: Gary Holbrook3. Nonmembers present: Dori Leyko (Superintendent), Rich Pugh (Director of Finance & Operations) and Lisa Allen (Director of Finance)

c. Approval of Agenda

• Moved by Estrella Torrez and supported by Kath Edsall, the agenda for the December 2, 2024, Finance Committee meeting be approved as presented. The motion carried 2-0.d. Approval of Minutes
• •Moved by Estrella Torrez and supported by Kath Edsall, the minutes of the October 7, 2024, Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

a. None.

3. Discussion

a. Reviewed the first-semester class size overages and the historical summary.

b. Reviewed the reimbursements for those approved for the 27K Student Loan Repayment Program.

c. Reviewed the estimated blended pupil membership full-time equivalency (FTE) report and compared the enrollment from the updated estimate to the original budget. Blended enrollment is projected to be down 26.20 FTE from the original budget but up 8 FTE from prior year audited blended enrollment.

d. Received information regarding the prior year's State Aid adjustments.

i. For 2022 and 2023, combined, approximately $294K was received due to a change in a property's taxability. The amount will be a pass-thru as the taxing authority will send a bill to reimburse the taxpayer.

ii. For 2024, approximately $466K was received due to updates in the captured values, which will increase the bottom line.

e. Received information on the 147c2 (One-time MSPERS) deposit of $600k. The amount will be a pass-thru and have a zero-sum effect on the budget.

f. Received information on the 147a4 (MSPERS cost offset) deposit. This revenue is being received in lieu of a Foundation increase for 2025. There will be minimal effect on the bottom line of the budget.

g. Received information on the 147g 3% employee retiree health care deduction reimbursement. The district will receive funds to reimburse employees subject to the 3%. More clarification is forthcoming and may not be available until February 2025.

h. The Ingham County ISD shared the 2023-24 final claim estimate will be approximately $500K higher than originally estimated. This will have a positive impact on the revised budget.

4. Adjournment

a. Kath Edsall declared the meeting adjourned at 1:45 p.m.

ELPS Finance Committee Meeting Minutes

Minutes of the Finance Committee of the EastLansing Board of Education East Lansing High School – Board Meeting 509 BurchamDrive, East Lansing, MI 

October 7, 2024

1. Opening of Meeting 

a. Finance Committee member, Kath Edsall called the meeting to order at 1:03 p.m. 
b. Roll Call 

1. Members Present: Kath Edsall, Gary Holbrook and Estrella Torrez (1:20 pm) 
2. Excused Absences: none 
3. Nonmembers present: Rich Pugh (Director of Finance & Operations) and Lisa Allen (Director of Finance) 

c. Approval of Agenda

• Moved by Gary Holbrook and supported by Kath Edsall that the agenda for the Finance Committee meeting of October 7, 2024 be approved as presented. The motion carried 2- 0. 

d. Approval of Minutes 

• Moved by Gary Holbrook and supported by Kath Edsall that the minutes of the June 3, 2024 Finance Committee meeting be approved as presented. The motion carried 2-0. 

2. Public Comment 

a. None. 

3. Discussion 

a. Reviewed the PA 152 Resolution and the impact to elect 80/20 vs. the Hard Cap. Electing 80/20 costs the Board approximately $900,000 more than electing the hard cap. 

b. Reviewed the October 2, 2024 head count. 

c. Reviewed the professional fee proposals for Kingscott and Clark Construction. 

d. Reviewed the bond issue series 2 ($18.9m) and refunding ($12.4m) of the 2015 Refunded Bonds 2024.

4. Adjournment 

a. Kath Edsall declared the meeting adjourned at 1:40 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Gary Holbrook, and Estrella Torrez

Minutes – June 3, 2024

1. Opening of Meeting

a. Finance Committee member, Kath Edsall called the meeting to order at 1:02 p.m.
b. Roll Call

1. Members Present: Kath Edsall, Gary Holbrook and Estrella Torrez
2. Excused Absences: none
3. Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)

c. Approval of Agenda

• Moved by Estrella Torrez and supported by Gary Holbrook that the agenda for the Finance Committee meeting of June 3, 2024 be approved as presented. The motion carried 3-0.

d. Approval of Minutes

• Moved by Estrella Torrez and supported by Kath Edsall that the minutes of the May 7, 2024 Finance Committee meeting be approved as presented. The motion carried 3-0.

2. Public Comment

a. None.

3. Discussion

a. Reviewed the 2024-25 Original Budget.
b. Reviewed the 2024 Tax Rates (L-4029).
c.  Discussed the continuation of the suspension of pay-to-participate fees for 2024-25.

4. Adjournment

a. Kath Edsall declared the meeting adjourned at 2:02 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Gary Holbrook, and Estrella Torrez

Minutes – May 7, 2024

1. Opening of Meeting

a. Finance Committee member, Kath Edsall called the meeting to order at 10:35 a.m.
b. Roll Call

1. Members Present: Kath Edsall and Estrella Torrez
2. Excused Absences: Gary Holbrook
3. Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)

c. Approval of Agenda

• Moved by Estrella Torrez and supported by Kath Edsall that the agenda for the Finance Committee meeting of May 7, 2024 be approved as presented. The motion carried 2-0.

d. Approval of Minutes

• Moved by Estrella Torrez and supported by Kath Edsall that the minutes of the April 15, 2024 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

a. None.

3. Discussion

a. Reminder of the Food Service Management Company renewal for Board action on May 13, 2024.
b. Reminder of the resolution in support of the IISD 2024-25 GF Budget for Board action on May 13, 2024.
c. Potential Board action on the AFSCME CBA on May 13, 2024 pending legal completion of new CBA.
d. Requesting Board approval of IRC section 127 plan for tax free treatment of student loan repayment program offered by the State of Michigan.
e. Reviewed the 2023-24 Final Budget Revision.
f. Reviewed the IISD SE Funding Committee review of the County SE funding formula. Four options were voted on by the Committee. The Committee sent to recommendations to the Superintendent round table. Potential impact to ELPS is a negative $300,000 to $360,000 but will be phased-in with no financial impact for 2024-25.
g. Reviewed a comparison of the SAF proposals from the Governor, Senate, and House. Preliminary 2024-25 budget development projects a GF draw from fund balance of $2.5m.

4. Adjournment

a. Kath Edsall declared the meeting adjourned at 11:15 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Gary Holbrook, and Estrella Torrez

Minutes – April 15, 2024

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 1:00 p.m.
• Roll Call
  • Members Present: Kath Edsall and Gary Holbrook
  • Excused Absences: Estrella Torrez
  • Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Gary Holbrook and supported by Kath Edsall that the agenda for the Finance Committee meeting of April 15, 2024 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Gary Holbrook and supported by Kath Edsall that the minutes of the March 4, 2024 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

• None.

3. Discussion

• Reviewed second semester class size overage stipends and historical total class size overage stipend amounts.
• Review accounts payable procedural updates including ACH payments.
• Continued review of emergency egress at Red Cedar Elementary for the Ivanhoe neighborhood.
• Reviewed Ingham ISD 2024-25 Proposed General Fund Budget.
• Reviewed the impact of the Governor’s budget proposal related to Other Post-Employment Benefits (OPEB) being fully funded.
• Reviewed the draft 2023-24 Final Budget Revision.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 1:45 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Gary Holbrook, and Estrella Torrez

Minutes – March 4, 2024

1. Opening of Meeting

a. Finance Committee member, Kath Edsall called the meeting to order at 1:02 p.m.
b. Roll Call

1. Members Present: Kath Edsall and Gary Holbrook
2. Excused Absences: Estrella Torrez
3. Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)

c. Approval

• Moved by Gary Holbrook and supported by Kath Edsall that the agenda for the Finance Committee meeting of March 4, 2024 be approved as presented. The motion carried 2-0.

d. Approval of Minutes

• Moved by Gary Holbrook and supported by Kath Edsall that the minutes of the January 29, 2024 Finance Committee meeting be approved as presented. The motion carried 2- 0.

2. Public Comment

a. None.

3. Discussion

a. Reviewed emergency egress at Red Cedar Elementary for the Ivanhoe neighborhood. Support to have the City of EL continue to explore.
b. Reviewed the Governor’s 2024-25 SAF proposal.
c. Reviewed the preliminary 2024-25 salary and benefits budget. Currently projected to increase expenditures by $2.5m. 

4. Adjournment

a. Kath Edsall declared the meeting adjourned at 1:35 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Gary Holbrook, and Estrella Torrez

Minutes – January 29, 2024

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 1:03 p.m.
• Roll Call
  • Members Present: Kath Edsall, Gary Holbrook, and Estrella Torrez
  • Excused Absences: None
  • Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)

• Approval of Agenda
  • Moved by Gary Holbrook and supported by Estrella Torrez that the agenda for the Finance Committee meeting of January 29, 2024 be approved as presented. The motion carried 3-0.
• Approval of Minutes
  • Moved by Gary Holbrook and supported by Estrella Torrez that the minutes of the October 25, 2023 Finance Committee meeting be approved as presented. The motion carried 3-0.

2. Public Comment

• None.

3. Discussion

• Revised Finance Committee meeting dates and times for the remainder of calendar year 2024.
• Reviewed the 2024-25 budget calendar. Will update for revised Finance Committee dates.
• Reviewed stipend for Supervisor of Payroll for added responsibilities for training replacement.
• Reviewed purchase of a used truck for plowing. Would trade-in current Ford Escape vehicle used for courier services to offset overall cost. Used truck comes with plow package but not the blade. An eight-foot straight blade is estimated at $5,000.
• Reviewed the 2023-24 First Budget Revision Budget Book.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 2:05 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), and Chris Martin

Minutes – October 25, 2023

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 12:30 p.m.
• Roll Call
  • Members Present: Kath Edsall and Chris Martin
  • Excused Absences: None
  • Nonmembers present: Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Chris Martin and supported by Kath Edsall that the agenda for the Finance Committee meeting of October 25, 2023 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Chris Martin and supported by Kath Edsall that the minutes of the September 27, 2023 Finance Committee meeting be approved as presented. The motion carried 2- 0.

2. Public Comment

• None.

3. Discussion

• Reviewed ELBOPA donation requiring Board approval.
• Reviewed potential Bond proposal issue size and timeline for a May 7, 2024 election.
• Reviewed first semester class size overages District-wide and K-5 class sizes by building by section.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 1:10 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), and Chris Martin

Minutes – September 27, 2023

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 12:30 p.m.
• Roll Call
  • Members Present: Kath Edsall and Chris Martin
  • Excused Absences: None
  • Nonmembers present: Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Chris Martin and supported by Kath Edsall that the agenda for the Finance Committee meeting of September 27, 2023 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Chris Martin and supported by Kath Edsall that the minutes of the May 17, 2023 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

• None.

3. Discussion

• Manaer Costerisan presented the audited financial statement for the year-ended June 30, 2023.
• Established the 2023-24 Finance Committee meeting dates and times.
• Reviewed the MESSA benefit renewal rates for calendar year 2024. Health care rates increased 3%.
• Reviewed the financial impact of electing 80/20 vs hard cap for calendar year 2024.
• Reviewed the boiler repair bids.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 1:50 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Monica Fink and Chris Martin

Minutes – May 17, 2023

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 12:34 p.m.
• Roll Call
  • Members Present: Kath Edsall and Chris Martin
  • Excused Absences: Monica Fink
  • Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)

• Approval of Agenda
  • Moved by Chris Martin and supported by Kath Edsall that the agenda for the Finance Committee meeting of May 17, 2023 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Chris Martin and supported by Kath Edsall that the minutes of the April 19, 2023 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

• None.

3. Discussion

• Reviewed the Finance Committee purpose description. The Committee decided to provide the purpose description, as written, to the full Board as an information item.
• Reviewed the suspension of the pay-to-participate fees. The Committee would like the full Board to consider continuing the suspension of the fees for the upcoming 2023-24 fiscal year.
• Reviewed the draft 2023 L-4029 (tax rate request).
• Reviewed the draft 2023-24 budget.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 1:20 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Monica Fink and Chris Martin

Minutes – March 15, 2023

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 12:33 p.m.
• Roll Call
  • Members Present: Kath Edsall, Monica Fink and Chris Martin
  • Excused Absences: None
  • Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Monica Fink and supported by Chris Martin that the agenda for the Finance Committee meeting of March 15, 2023 be approved as presented. The motion carried 3- 0.
• Approval of Minutes
  • Moved by Monica Fink and supported by Chris Martin that the minutes of the February 15, 2023 Finance Committee meeting be approved as presented. The motion carried 3- 0.

2. Public Comment

• None.

3. Discussion

• Reviewed the timeline for the RFP for Food Service Management Company.
• Reviewed the recommendation for the purchase of a new food service truck.
• Reviewed the District’s 147c(2) allocation of $2,206,217. Funds are an in/out like the 147c(1) stabilization funds.
• Reviewed the estimated FY 2023-24 cost for DK Security. Projected cost is $114,000 for three fulltime security guards.
• Reviewed estimated savings related to negotiated eFinancePlus (accounting software) renewal costs. Savings projected at over $100,000 over 5 years.
• Reviewed recommendation that the Board authorize the Superintendent to enter into contracts.
• Reviewed a draft of the 2nd semester class size overages.
• 2023-24 budget development for revenues was reviewed. Much remains uncertain as both the Senate and House have yet to release their SAF budget proposals.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 1:07 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Monica Fink

Minutes – February 15, 2023

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 12:30 p.m.
• Roll Call
  • Members Present: Kath Edsall and Monica Fink
  • Excused Absences: None
  • Nonmembers present: Dori Leyko (Superintendent) and Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Monica Fink and supported by Kath Edsall that the agenda for the Finance Committee meeting of February 15, 2023 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Monica Fink and supported by Kath Edsall that the minutes of the January 25, 2023 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

• None.

3. Discussion

• Reviewed the mental health and security grant award amounts for sections 31aa, 97, 97c, and 97d. In total the district was awarded $910,257.
• Provided and reviewed the Executive SAF Budget Recommendations for FY 2023-24. A preliminary revenue budget impact projection was reviewed.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 12:50 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Debbie Walton (Chair), Kath Edsall and Monica Fink

Minutes – January 25, 2023

1. Opening of Meeting

• Finance Committee member, Debbie Walton called the meeting to order at 12:37 p.m.
• Roll Call
  • Members Present: Debbie Walton, Monica Fink and Kath Edsall (12:42 p.m.)
  • Excused Absences: None
  • Nonmembers present: Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Monica Fink and supported by Debbie Walton that the agenda for the Finance Committee meeting of January 25, 2023 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Monica Fink and supported by Debbie Walton that the minutes of the November 17, 2022 Finance Committee meeting be approved as presented. The motion carried 2-0.

2. Public Comment

• None.

3. Discussion

• Revised the remaining Finance Committee meeting dates and times due to new committee members.
• The 2023-24 Budget Calendar will be revised to reflect changes in Finance Committee meeting dates.
• Discussed the January 2023 Consensus Revenue Estimating Conference. Overall revenue is projected to increase in the School Aid Fund from the May 2022 CREC.
• Reviewed the 2022-23 First Budget Revision draft. Waiting to receive section 97 and 31aa grant allocations and section 147c2 allocations and guidance on accounting before finalizing the budget revision.

4. Adjournment

• Debbie Walton declared the meeting adjourned at 1:47 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Kate Powers and Chris Martin

Minutes – November 17, 2022

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 3:05 p.m.
• Roll Call
  • Members Present: Kath Edsall and Kate Powers
  • Excused Absences: Chris Martin
  • Nonmembers present: Rich Pugh (Director of Finance & Operations)
• Approval of Agenda
  • Moved by Kate Powers and supported by Kath Edsall that the agenda for the Finance Committee meeting of November 17, 2022 be approved as presented. The motion carried 2-0.
• Approval of Minutes
  • Moved by Kate Powers and supported by Kath Edsall that the minutes of the September 29, 2022 Finance Committee meeting be approved as presented. The motion carried 2- 0.

2. Public Comment

• None.

3. Discussion

• Reviewed the October 5, 2022 unaudited count day enrollment. Blended enrollment projected to be up 97 FTE from the 2022-23 Recommended Budget.
• Reviewed the 2022-23 1st semester class size overage stipends. Similar to last year’s 1st semester amounts.
• Reviewed the posting for a Director of Operations and Maintenance. This position will replace the Supervisor of Operations and Maintenance.
• Reviewed the posting for a Personnel Administrative Assistant. This is an added position. Projected full year cost $90,000.
• Discussed General Fund projected interest earnings for 2022-23. Interest rates are favorable. Projected interest earnings $450,000.
• Reviewed Prior Year State Aid adjustments on the October 2022 State Aid Status Report.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 3:45 p.m.

FINANCE COMMITTEE

509 Burcham Drive, East Lansing, MI 48823

Members: Kath Edsall (Chair), Kate Powers and Chris Martin

Minutes – September 29, 2022

1. Opening of Meeting

• Finance Committee member, Kath Edsall called the meeting to order at 3:03 p.m.
• Roll Call
  • Members Present: Kath Edsall, Kate Powers and Chris Martin
  • Excused Absences: None
  • Nonmembers present: Dori Leyko (Superintendent), Rich Pugh (Director of Finance & Operations), Scott Baker-Young (Supervisor of Accounting) and Dave Nielsen (Maner Costerisan)
• Approval of Agenda
  • Moved by Kate Powers and supported by Chris Martin that the agenda for the Finance Committee meeting of September 29, 2022 be approved as presented. The motion carried 3-0.
• Approval of Minutes
  • Moved by Kate Powers and supported by Chris Martin that the minutes of the May 20, 2022 Finance Committee meeting be approved as presented. The motion carried 3-0.

2. Public Comment

• None.

3. Discussion

• Dave Nielsen, Maner Costerisan, reviewed the June 30, 2022 audited financial statements.
• Reviewed the draft 2022-23 Finance Committee meeting dates.
• Reviewed PA 152 of 2011 (hard cap vs 80/20) and the District’s health care renewal rates effective January 1, 2023.
• Reviewed a cell tower proposal from TowerCo.
• Custodial update related to decision to bring back in-house.
• Reviewed elementary playground equipment concerns.
• Staff bonus being considered.

4. Adjournment

• Kath Edsall declared the meeting adjourned at 4:00 p.m.