Athlos Jefferson Parish
Minutes
Finance Committee Meeting
Committee Members Present
J. Holmes, M. Caparotta, N. Anthony
Committee Members Absent
None
Guests Present
B. Bressler (remote), C. Brooks (remote), S. Dominguez-Pannell, T. Tate (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
N. Anthony called a meeting of the Finance Committee Committee of Athlos Jefferson Parish to order on Wednesday Jan 8, 2025 at 5:09 PM.
C.
Approve Minutes
M. Caparotta made a motion to approve the minutes from Finance Committee Meeting on 11-06-24.
N. Anthony seconded the motion.
The committee VOTED to approve the motion.
II. Finance Committee
A.
Review November 2024 Financials
M. Caparotta made a motion to accept the November financials.
N. Anthony seconded the motion.
The committee VOTED to approve the motion.
B.
Audit Review
Mr. Brooks shared the audit financial statements and procedures. The financial audit came back clean with no findings. There was only one finding on the procedures in that one individual's education didn't match the report. There were no exceptions on the state procedures.
M. Caparotta made a motion to recommend we present the audit to the full board for approval.
N. Anthony seconded the motion.
The committee VOTED to approve the motion.
C.
Working Budget Discussion
The committee discussed current needs and where we could make adjustments in the budget to cover the current requests.
M. Caparotta made a motion to approve hiring of a Dean.
N. Anthony seconded the motion.
The committee VOTED to approve the motion.
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 5:45 PM.
Respectfully Submitted,
N. Anthony
Mr. Brooks shared the current financials. He stated that we are in good standing for cash. He said we will be receiving our true up payment in March for the additional roughly 15 students that have enrolled since the October 1 count. We are still working through details with the state on our SuperApp and then will be able to draw down on our grants. Enrollment is about 50 students short of the adopted budget, so we have been operating off the reduced working budget.
Mr. Brooks also shared an enrollment comparison from last year to this year along with a cash position comparison from last year to this year and days cash on hand. We are required to have 45 days cash on hand and are currently at 147 days.