November 20, 2023 at 12:00 PM - Finance Committee Meeting
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1. CALL TO ORDER (2 minutes)
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2. PRAYER (3 minutes)
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3. PLEDGE OF ALLEGIANCE/TEXAS PLEDGE (2 minutes)
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4. ROLL CALL (3 minutes)
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5. PUBLIC COMMENT (7-10 minutes) Any individual wishing to address the Board of Directors of Tejano Center for Community Concerns must sign in with Jessica Villarreal, Board Services, by emailing a request to speak, at least 72-hours prior to scheduled meeting. The request must include the name of speaker, telephone, number and email address of the speaker, and the topic of the intended comments, to Jessica.villarreal@tejanocenter.org. Those doing so will be allowed to address the board for a maximum of three minutes. Individuals will address the board in the order that they have signed in. Alternatively, the individual may email comments to the above email address.
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6. PRESENTATIONS/UPDATES
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6.a. RYSS expansion financing recommendation - move forward with MTI structure in which EFF and Raza are the first lender members.
Speaker(s):
Dr. Adriana Tamez, President/CEO & Superintendent of Schools; Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
Description:
Update: EFF has declined to lend up to $45M for existing schools, Pasadena and Brownsville, but they can do two of those three things. Since we already have NMTC termsheets that are more financially favorable for Pasadena (save TCCC $1.7M over 7 years), we told EFF that they should move forward with credit greenlighting for $35M for existing schools (taking over Sunflower loans) and Brownsville. EFF’s structure actually results in lower annual payments than Sunflower.
Lenders Approached/Comparisons: Rationale: Why Raza Development and EFF? Why recommended structure? Question: Why refinance the Sunflower loan as part of this structure? |
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7. INFORMATION ITEMS
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8. DISCUSSION ITEMS
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8.a. Report on August 2023 Unaudited Financials for Raul Yzaguirre School for Success and Tejano Center for Community Concerns_Non-School
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
Description:
The Raul Yzaguirre Schools for Success 2022-2023 General Fund and Child Nutrition Fund activity as of August 2023. The TCCC-Non School Activity as of August 31, 2023, is presented.
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8.b. Discussion on contract with Harris County Department of Education for four staff members to provide business support services for the period of July 1, 2023, to December 31, 2023, in the amount of $160,700.
Speaker(s):
Dr. Jesus Amezcua, Interim CFO Consultant
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8.c. Discussion on Disbursement Report/Vendor cumulative payments for November 2023 to include procurement processes and expenditure approvals.
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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8.d. Discussion on adding Antonio Zambrano, new Chief Financial Officer, to the bank accounts and deleting Dr. Jesus Amezcua, Interim CFO, Adam Dominguez, Business Manager from the bank accounts.
Speaker(s):
Dr. Adriana Tamez, President/CEO & Superintendent of Schools; Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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8.e. Discussion on Level Field Partner’s Professional Service Agreement for the BRYSS Expansion (Brownsville).
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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8.f. Discussion on Budget Amendment #4 in the amount of $60,000 to pay for extra duty pay for High School Organization 001. This is a transfer from other funds and will not affect net assets.
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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8.g. Discussion on Budget Amendment #5 in the amount of $11,700 to move funds to Object 6299 contracted services in the Early College STEM Academy (High School). This is a transfer between functions with no effect on net assets.
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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8.h. Discussion on Budget Amendment # 6 for the Food Service program in the amount of $150,000 due to increase enrollment.
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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8.i. Discussion on Budget Amendment #7 in the amount of $75,000 to set up various budget by organization code in Fund 420. This is a transfers with no effect on net reserves.
Speaker(s):
Dr. Jesus Amezcua, HCDE Chief Financial Officer Consultant
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9. EXECUTIVE SESSION UNDER TEXAS GOVERNMENT CODE §§ 551.071, 551.072, 551.074, AND 551.082, TO ADDRESS:
a. Private consultation with attorney concerning privileged issues from agenda matters and pending or threatened litigations. b. Deliberations concerning the purchase of real property c. Deliberations concerning the duties of the CEO and CFO regarding supervision of personnel d. Consider complaints against directors and senior staff e. Discussion of duties and evaluation of administrative personnel, including complaints regarding school staffing, academic and organizational changes for the 2022-2023 school year |