The committee discussed the QPD Proposal.  Bob provided an overview of his services and answered the committee's questions about the process and his previous work on similar projects.  The committee found the proposal to be reasonable and decided to have it reviewed by counsel.  The committee discussed creating a facility task force and the possibility of "housing" this in the finance committee.  The committee discussed adding other committee members with architectural or building experience to ensure that they could provide proper oversight of a building process. 

The committee reviewed the financials and discussed the highlights.  Revenue and expense projections were on track and there were no major issues of concern. Although we are currently showing a loss, it is due to the timing of outstanding government grants.  The committee discussed how the costs of the QPD contract would impact the budget; it was in agreement that it made sense to pay as much of QPD's costs as possible out of the FY18 operating budget. The committee asked Meghan to consult with AAF about managing a capital budget and operating expenses on two different cycles as well as financing and repaying expenses that have already been expended.