Michelle presented the Q3 update explained that there were not any expected changes.  Tuition remains above budget due to favorable per pupil tuition.  Health insurance costs are above budget.  Overall we expect to come in somewhat favorable to budget but will be to draw reserves to cover the strategic plan rollout as budgeted.

The committee reviewed the fiscal policies as planned annually.  Michelle explained that TD is in compliance with the credit ratings as explained in the investment policy. There were no suggested changes included.  Nicole noted at the next review we need to change "Principal" to "Executive Director' to match the adjusted organization chart.  Michelle suggested that as part of our work next year the committee fine tune the reserve policy to create a threshold for required general reserves.

Ellen suggested a preaudit meeting with her, Michelle Sapienza (Sizer Foundation Treasurer), Brian Harrigan, Michelle McKenna and the new audit firm.  Ellen suggested a focus on the small nature of the business office as an area of audit focus.  

The committee agree that we have made progress on the stated goals.  

The committee agreed that the remote, flexibly scheduled meeting are working and that we should continue this way into next year.