Motion to adjourn
By: Jessica Weissinger Seconded by: Keith Pettiway
There was no notable discussion on the motion.
| Name | Status | Arrival Time | Departure Time |
|---|---|---|---|
| Douglas McRae | not present member | ||
| Keith Pettiway | present secretary | On Time | At Adjournment |
| Jessica Weissinger | present chair | On Time | At Adjournment |
| Chris Tuten | present member | On Time | At Adjournment |
| Pamela Tanner | present secretary | On Time | At Adjournment |
Operations: -finished the month of April 2024 above budget expectations by 173K MTD and 525K YTD, respectively.
Why? -majority from Cares Act III, which was not included in the Operating Budget -Accrual of 21K reimbursement of Title II Grant and 21K in QBE supplement. -Received a 12K donation from the Church to go towards HVAC repairs. -Additional QBE supplement.
Title 1: -expenses eligible for the month: 17K -Total YTD: 74K -reimbursements are filed quarterly. -Total allocation for the year is 108K.
Investments: -As of April 2024, our market value on investments is 953K on a 1,000,000 base. -Loss of 18K for the month -Gain of 28K YTD
Cash Position: -As of July 2024, we are projecting a cash balance of 579K -Net of cash reserves 1M. -Cash reserves should represent approximately two months of operating expenses. -As of April 30, 2024, we have an AR of 282K outstanding. -Deposited checks totaling 210K in the month of April. -100K has been submitted to Accounts Payable by APS.
Discussion Topics: -Budget Hearing Dates and update on 24.25 operating Budget -May 2024 final Payment 729K, (50K over Budget) -Takeaways from APS Budget Commission meeting
The meeting adjourned at approximately 7:53 am
Motion to adjourn
By: Jessica Weissinger Seconded by: Keith Pettiway
There was no notable discussion on the motion.