Alma del Mar
Minutes
Finance Committee Meeting
Date and Time
Thursday June 13, 2024 at 9:00 AM
Christine Fisher is inviting you to a scheduled Zoom meeting.
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Meeting ID: 881 9417 1144
Passcode: 870527
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Meeting ID: 881 9417 1144
Passcode: 870527
Find your local number: https://us02web.zoom.us/u/kkXYc3C4A
Committee Members Present
C. Fisher (remote), C. Holley (remote), P. Ditchfield (remote)
Committee Members Absent
J. McDonough, T. DeLoach
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
FY24 May Financials
B.
Transfer Funds to Replacement & Renewal Fund
C.
5 Year Capital Plan
Committee reviewed 5 year capital. C. Fisher noted that many of the projects are from the Campus replacement & renewal studies and that not all projects on the plan will need to be done. The plan will be updated annually as needed. Plan will be added to Board of Trustees agenda for approval.
III. Other Business
A.
FY25 Meeting Schedule
Board meetings are not finalized for FY25. Fincom will schedule their meetings to align with the Board's schedule.
C. Fisher presented the FY24 May financials noting a significant projected surplus of $1.8million. This surplus would result in a 2.14 DSCR, well above the required 1.2.