Home Forums Live Blog Forum TFA Finance Comm, 2/14/18

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    Patrice Benard

    There is supposed to be a Finance Committee Meeting today at 4:45 pm. No Agenda has been posted and I am sitting here alone in the Foundation Conference Room. The Dean has been in, sat down, then left with her notebook. I don’t know what’s up, but I’m ready to blog!

    Patrice Benard

    Begins at 4:56 pm. Lavallee, S. Sawton, and Dean present. One student and myself are present.


    Christine working on books still so will require a couple more meetings.

    Plans on presenting both this year’s revised and next year’s proposed at the same time.

    Patrice Benard

    Needs – roof.

    YTD numbers – we are running under budget by $78K. Under in most areas except support services.
    Liability Insurance looks like it is over, but we paid for the year.
    STudent transportation we pay out, but offset by student payments typically.

    Awaiting state payments in the next few wks, then the final comes in July.

    Still have some expenses we anticipate. We do need to plan for a reserve.

    May have some HVAC expenses as well.

    Patrice Benard

    These numbers include the anticipated FR dollars.

    Internal controls that were suggested by auditors are beginning to take place. Bookkeeper in contact with software company for the reports we wanted. Next step will be to get custom budget in our software. These new internal controls are working very well thus far.

    Website now set up to have previous audits put up.

    The Draft that the auditors brought in January has been approved. Nothing changed.

    Patrice Benard

    Lawton asks about FR/Annual Fund. Yes, it will need to be pushed again. Kim brings up Matching Funds that some employers provide. We need to increase our Annual Fund donations. We are way behind and really need to increase the awareness of our needs.

    Dean brings up the President’s Club. May need to rework some of this. Kim and Susan both reiterate that EVERY gift helps, no matter how small. Put them all together and we can do great things.

    Setting up next meeting date: Feb 21st at 5 pm (before the next board mtg)

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