Seth Rosenblum Howard Goldberg Marta Koblenz
Rabbi Beverly Magidson Guest: Rod Margolis
Sandor Schuman Deborah Beth Medows Gail Kendall
Rachel Rappaport Moshe Binyamin Laura Segal
HACD Board of Trustees May 19, 2014 Minutes
via phone: Suzanna Randall
Rabbi Benjamin Lehrfeld
1. D’var Torah – Carolyn Levine; menacing, vindictive dictums, hope stems from the covenant. Community is central...
2. Consent Agenda: includes Minutes from April meeting, HOS report Motion to accept: Laura Segal, Second: Gail Kendall; unanimously approved.
3. Finance – Discussion led by Seth Rosenblum. Distributed new audit. Four months late due to changes at the accounting firm. Will be completed in December next fiscal year so that we can use it to inform our next year’s budgeting process. Auditor’s note states that we don’t use a sophisticated accounting for depreciation. $1.86 mill endowment balance at year-end.
Current financial report: Why was tuition income reflecting as so low? We have been double counting financial assistance. This has been rectified. Need to review how we staff the accounting function of the staff. Audit is reported on an accrual basis, but for internal reporting we use cash. Do this to help inform financial expense decisions. Should have an allowance for doubtful accounts, but currently don’t do it that way. Had a large payment of an account that was in arrears. This amount is not reflected in our current income. Finance committee would like to clean up account receivable balance. Given current staffing, that may not happen soon. Current budget still reflects that we will be $14K in the red. Have not yet prioritized setting next year’s budget, expecting it to look similar to this year’s budget. School should be setting aside funds for capital improvements account. It is a budget category that we need to look into creating.
Question about increase in field trips line item. Initial budget did not reflect new cycle of middle school travel.
Rod Margolis is in attendance as a representative of the HSEC for the executive session. 4. Executive Session
5. Good and Welfare: Bev’s son Shalom is graduating from SCC.
Elana Y. Kamenir