Finance Committee Meeting Minutes

September 4, 2024, 5:00-5:45 PM

Wednesday September 4, 2024 at 5:00 PM

C. Martin, M. Caparotta, N. Anthony

None

B. Bressler, C. Brooks (remote), J. Holmes, J. Ogden (remote)

N. Anthony called a meeting of the Finance Committee Committee of Athlos Jefferson Parish to order on Wednesday Sep 4, 2024 at 5:11 PM.

M. Caparotta made a motion to approve the minutes from Finance Committee Meeting on 05-01-24.

N. Anthony seconded the motion.

The committee VOTED to approve the motion.

Chris presented the Financials for FY24
Audit for FY24 has started
Current cash balance discussion
- Not too much Grant receivables accrued in FY24
Questions
- Nakeveya question - What was done differently from prior year as far as grant reimbursements?
  - Answer - Chris started late with in FY23 and this finance has done a better job tracking and managing the reimbursements monthly
- Nakeveya question - Long term debt question?
  - Still needs to be recorded for FY24
Comparison - Revenues & Expenses Prior Year to Current Year
- Expenses have been more conservative in current year
- Change in Lease amortization to Bond
Budget vs Actual QTRLY
- Increase in Local revenues due to interest income
- Over budget in Federal Revenue
  - DCC and other additional Grants made available
- Expense lower than budget in salary & benefits
- Transportation over budget
Overall over budget on revenue and under budget on Expense
No questions

Opportunities to gain additional income
- Hosting - Crescent city league and other sports
  - Charging at the door and concession
Grant writer opportunity
- Possible position available

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 5:42 PM.

Respectfully Submitted,

N. Anthony