Alma del Mar
Minutes
Finance Committee Meeting
Date and Time
Thursday January 18, 2024 at 9:00 AM
Taylor DeLoach (she/her/hers) is inviting you to a scheduled Zoom meeting.
Join Zoom Meeting
https://almadelmar-org.zoom.us/j/6731716522?pwd=VW1mQmZzV0JyQVZrR01KbjNKRURGdz09
Meeting ID: 673 171 6522
Passcode: 12345
Committee Members Present
C. Holley (remote), J. McDonough (remote), P. Ditchfield (remote)
Committee Members Absent
None
Guests Present
E. Darrow (remote), T. DeLoach (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
| Roll Call | |
|---|---|
| J. McDonough |
Aye
|
| P. Ditchfield |
Aye
|
| C. Holley |
Aye
|
II. Finance
A.
FY24 Q2 Financials
B.
FY25 Budget Timeline
T. DeLoach presented the updated budget timeline that C. Fisher and E. Darrow have agreed upon. Note: This is a slight change in the attachment in the packet due to an update from a meeting yesterday.
C. Holley asked about updating the Board regarding the updated Budgeting Process. The Committee agreed to bring the updated timeline to the Board at the February Board Meeting.
III. Other Business
A.
Meeting Cadence
The Committee discussed meeting this spring in line with the budget process. T. DeLoach will collaborate with C. Fisher to determine if the next meeting should occur in March and the Committee can skip February.
IV. Closing Items
A.
Adjourn Meeting
- 1.FY24.December.SNP.pdf
- 2.FY24.Combined.P&L.pdf
- 3.FY24.Campus.P&L's.pdf
- 4.FY24.Q2.CashSummary.pdf
- 4.FY24.Q2.CashSummary.pdf
- FY25 Budgeting Process.pdf
T. DeLoach reviewed the Q2 Financials.
C. Holley asked if there were any restrictions. E. Darrow responded that she believes that the tuition funds are not restricted, but C. Fisher can provide a final answer.
P. Ditchfield asked if the above tuition changes would be consistent year to year. T. DeLoach responded that no, this is a number that changes year over year. However, C. Fisher does not include above foundation rates in her budget process to ensure that Alma's budget is sound.
P. Ditchfield asked about savings in contracted service providers. T. DeLoach responded that last year Alma did signifiant work to bring contracted services in house rather than paying for more expensive contractors.