Board Meeting Minutes – July 12, 2018

 

Mountain School Board Meeting Minutes

July 12, 2018

12:00 PM

1899 Restaurant

 

Board Members present:  Renee Fauset, Vanessa Fitz-Kesler, Mark Neumayr, Ellen Majure and Jason Aulwes. 

Others present:  Dan Stephens (school financial consultant)

 

1. Call to Order/Welcome: The meeting was called to order at 12:02 PM.

 

Renee Fauset, President

 

2. Adoption of Agenda: Ellen Majure made a motion to adopt the agenda as presented.  Mark Neumayr seconded the motion.  The motion was approved.

 

Renee Fauset, President

 

3. Call to the Public: There was no public present.

 

Renee Fauset, President
   
4. Disclosure of Conflicts: The board discussed whether items 6, 10, 11 and 12 constituted conflicts of interest for those named in the item.  It was decided that there was not a conflict of interest, since item 6 is not an action item and board members are inherently voting for themselves by agreeing to serve in a board position.

 

Vanessa Fitz-Kesler, Board Secretary & Executive Director

 

5. Action Item:  Approval of May 8, 2018 Meeting Minutes: Renee Fauset made a motion to approve the May 8, 2018 Mountain School board meeting minutes as amended in Item 8.  Ellen Majure seconded the motion. The motion was approved. Renee Fauset, President
     
6. Agenda Item:  Bank Report: Jason Aulwes presented the board with an annual, monthly and quarterly amortization schedules to preview some options for prepayment of principal on the school’s loan through Compass BBVA.  He confirmed that our contract has a prepayment penalty written into it, but as of today and as long as interest rates are higher than our loan interest rate (3.6%), there would actually not be a prepayment penalty. He also confirmed that any principal prepayments would not be calculated into the debt service covenant ratio.

 

Jason Aulwes

Board Member

 

7. Agenda Item: Review of tax form 990: The 990 was briefly reviewed and there will be a future discussion following the audit in August.

 

Renee Fauset, President

 

8. Agenda Item: Review of 2018-2019 Mountain School Budget: The board reviewed the fiscal year 2019 Mountain School budget forms and Dan Stephens was present to answer questions.

 

Renee Fauset, President & Dan Stephens, Finance Consultant
9. Action Item:  Proposal of 2018-2019 Mountain School Budget (Fiscal year 2019).  Mark Neumayr made a motion to approve the proposed 2018-2019 (fiscal year 2019) Mountain School budget.  Jason Aulwes seconded the motion.  The motion was approved.

 

Renee Fauset, President & Dan Stephens, Finance Consultant
10. Action Item:  Approve Vanessa Fitz-Kesler as a charter representative:  Ellen Majure made a motion to approve Vanessa Fitz-Kesler as a charter representative.  Mark Neumayr seconded the motion.  The motion was approved.  Renee Fauset will remain as a charter representative during the director transition time. 

 

Renee Fauset, President

 

11. Action Item:  Appoint and approve Jason Aulwes as board treasurer:  Mark Neumayr made a motion to appoint and approved Jason Aulwes as the Mountain School board treasurer.  Ellen Majure seconded the motion.  The motion was approved. Renee Fauset, President
     
12. Action Item:  Appoint and approve Mark Neumayr as board vice-president:  Vanessa Fitz-Kesler made a motion to appoint and approve Mark Neumayr as the Mountain School board vice-president.  Jason Aulwes seconded the motion.  The motion was approved. Renee Fauset, President
     
13. Future agenda items to consider:

·       Taking action on the loan prepayment, attach amortization to minutes.

·       Cash flow statements will be brought to meetings at least quarterly.  3. Conflict of interest and duties and responsibilities of board members.

·       Add a regular treasurer’s report to the agendas which will include sharing a bank balance sheet, income statement and cash flow statement.

·       Director’s report from Vanessa will be on future agendas.

·       The next meeting will be Thursday, August 16 at 12:00 PM.  In general Thursdays were the best day for those present.

 

Vanessa Fitz-Kesler,

Executive Director

 

14. Agenda Item:  Sign vouchers: Vouchers for May and June 2018 were signed.

 

Renee Fauset, President
15. Adjourn: The meeting was adjourned at 1:33 PM.

 

  Renee Fauset, President
     

 

 

 

Dated: ______ of July, 2018

 

MOUNTAIN SCHOOL BOARD

 

 

_________________________________

Renee Fauset, President

 

 

________________________________

Vanessa Fitz-Kesler, Secretary & Executive Director