DRAFT Minutes - Special Finance Committee - August 13, 2024
DRAFT MINUTES UNTIL APPROVED AND FINAL
BOARD OF TRUSTEES
SPECIAL FINANCE COMMITTEE MEETING
Tuesday, August 13, 2024
11:30 am
Virtual Meeting
Minutes
TRUSTEES PRESENT: Diana Boisclair; Chris Jewell; David Kalla; and Denise Lindell
ABSENT: DeVol Joyner
ADMINISTRATION PRESENT: Head of School, Nathan Quesnel; Director of Finance, Rich Freeman; Executive Director of Foundation, Kathy McCarthy; Controller, Sharon Lent; and Recorder, Mary Vega
1. Call to Order—D. Lindell called the meeting to order at 11:36 a.m.
2. Approval of Minutes
Motion by D. Boisclair, seconded by D. Lindell to approve the June 11, 2024 Special Finance Committee Meeting Minutes. Vote: All in favor Motion passed
3. Audit Update
M. Ballestas, from CLA, presented information about the upcoming audit. She discussed results from preliminary field work, scope & deliverables, auditor responsibilities, management responsibility, timetable, areas of concern, industry trends & operations, accounting updates and then answered questions from the committee.
4. End of Year Finance Report
R. Freeman reviewed the report. D. Lindell asked to include balance sheet in future meetings.
5. Other Topics of Interest
a. Current fiscal year – N. Quesnel shared enrollment dashboard and provided update.
b. Enrollment – N. Quesnel shared that international groups are increasing. Due to the increasing need for housing the international students NFA is exploring options. He will keep committee updated on process.
c. Transportation (Hockey & Athletics) – N. Quesnel shared that we now have 2 hockey teams. Transportation options are being investigated in order to accommodate the NHC and NFA athletic teams.
6. Adjournment of Meeting
Motion by C. Jewell, seconded by D. Kalla, to adjourn the meeting at 12:40 p.m.
Vote: All in favor Motion Passed
Respectfully submitted,
Mary E. Vega
Approved: Recorder