Motion to adjourn
By: Douglas McRae Seconded by: Jessica Weissinger
There was no notable discussion on the motion.
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Douglas McRae | present member | On Time | At Adjournment |
| Jessica Weissinger | present member | On Time | At Adjournment |
| Keith Pettiway | present secretary | On Time | At Adjournment |
October 2020 Highlights: Operations: MTD we finished 70K better than budget. 57K cares fund reimbursement filed as well as 47K unrealized gain on investment, (due to audit entry). These pluses are offset by 26K overage in Constructual Expenses, (26K purchase in laptops). It should be noted that without the investment gain will still finish 20K better than budget MTD. YTD we finished 153K better than budget. 60K in annual fund donations and 57K in cares act reimbursement, (timing). Update on forgiveness: Portal to apply for forgiveness just opened. Will start the forgiveness process next week. Title 1 5k submitted for reimbursement MTD; 15K YTD Investments: Gain for the month 47K, (audit entry). Total market value as October 2020 903k on 900K investment. Reclassed cash equivalents of 29K to separate account on GL per audit. Cash Position: As of July 2021 we are projecting a cash balance of 752K, net of cash reserves of 1 million. Cash reserves represent approximately two months of operating expenses.
*executive session regarding William*
The meeting adjourned at approximately 7:37 am
Motion to adjourn
By: Douglas McRae Seconded by: Jessica Weissinger
There was no notable discussion on the motion.