Nina, Jeff, Jan, Jen, Peter, Jeremy, Bill, and Karl are in attendance

We will approve at next meeting - the Feb meeting

The group reviewed the February financial information.  Karl discussed some of the prior period minor adjustments and how to track and report those changes prospectively..
The group discussed some of the specific line items and highlights to the budget to actual analysis,

Some of the unfavorable variance areas were reviewed in more detail including maintenance and audit expense.  It was agreed that in building the budget for 2017-2018 year additional consideration will be given to these areas and increased where possible.

Jeff indicated that the work on the updated loan facility for the building with the re-worded guarantor are proceeding without any complications to date.
Other general discussion ensued.

It was agreed that the Finance Committee would begin to construct the budget for 2017-2018 using the 10 year projections.  The goal is to have a draft finalized by the next meeting to review and approve for presentation to the Board at the April meeting.
As always the primary focus will be on the staff.and related benefits.  The increases experienced with the SPED needs were noted and asked to be fully considered when developing the required salary line items. 
For the revenue side, it was discussed that the current funding rate would be added with a modest increase. 
Karl mentioned the possibility to add a board designated reserve (restricted funds) to the budget which would be specifically designated to fund larger capital items, ideally included within documented plan..
Additiaonal plans and their creation were also discussed.
 

For the policies, it was agreed that the FinCom would review the first 21 pages for the next meeting.
Jeff - will update the links and appendicies.

Jen questioned if there were any updates at the state level.  Nina and Jeff will investigate.

Jen lead the discussion on the presentation created by Paul McCarthy and was reviewing the assumptions and major points to the "plan".
General discussion ensued on priorities and concurrent needs.to be considered.
Nina and Jeff mentioned the prior efforts taken the "Blue ribbon expansion task force" in prior years.  If available, Nina and Jeff will provide access to some of the information gathered.