Board Minutes Jan 16 2020

Board Meeting Minutes

Jan 16, 2020

6:30 PM – 8:00 PM

Facilitators: Paul Martin

Minutes: Tyler Currie

Timekeeper: Beth Coleman

Process Observer: Teran Sittner

Call to Order:  6:00pm

Present: Alex Osias (by phone), Beth Coleman, Julie Cohen, Karen Wolfer, Lucas Ketzer, Paul Martin, Teran Sittner, Tyler Currie

Guests: None present

Quorum established

Presentation of Revised FY 2020 Budget (Lucas Ketzer)

• Adjustment of beginning fund balance to reconcile with audited figure
• Discussion of revenues and expenses year-to-date
• Projected FY 2020 operating deficit increased by approximately $10K
• Discussion of current fund balance reserve policy in relation to best practices and recommendations of outside CPA

Motion, Beth Colemen – Approve Revised FY 2020 Budget as Presented, with no changes to fund balance reserve policy.

Motion 2nd, Karen Wolfer

Concordance Achieved, Motion Carries

Adjournment: 6:30