Meeting Details
January 11, 2021
5:15pm - 5:30pm
15 min
Mt. Vernon Administrative Service Center
Purpose
N/A
1.
Call to Order
Minutes
The Finance Meeting convened at 5:21 p.m.
2.
Adoption of Agenda
3.
Board of Finance
3.1
Action Item: Resolution 2021-01 Authorizing a Board of Finance for 2021
Minutes
Mr. May made a motion to approve Resolution 2021-01 Authorizing the entire Board of Trustees to serve as the Board of Finance for the calendar year 2021 and that officers serve in the same capacities on both boards. Mr. Edwards seconded, and the motion carried 4-0.
3.2
2020 Interest Earning Report
Minutes
Mr. Elkins presented a statement of interest earnings for the period of January 1, 2020 to December 31, 2020 for a total of $65,439.11 in interest and credit card awards, which were deposited into the corporation’s Rainy Day Fund. No Action was needed.
3.3
Action Item: Resolution 2021-02 Investments for 2021
Minutes
Mr. Edwards made a motion to approve Resolution 2021-02 Investments for 2021 as presented. Mr. Gray seconded, and the motion carried 4-0.
3.4
Presentation of DUAB Fiscal and Qualitative Indicators Report
Minutes
Mr. Elkins presented the DUAB (Distressed Units Appeal Board) Report, which is the School Corporation’s Fiscal Indicators. He feels we are trending in the right direction with an increase in revenue as shown on the Annual Deficit/Surplus graph. Our fund balances are increasing as well relative to expenses. Mrs. Freeman mentioned her appreciation for the provided visuals. No Action was needed.
4.
Adjournment
Minutes
Mr. May made a motion to adjourn the Finance Meeting at 5: 26 p.m. and return to the Mt. Vernon Board of School Trustees Reorganization Meeting, Mr. Gray seconded the motion, and the motion carried 4-0.
