Minutes - Finance Committee

Approved Minutes Finance Committee Special Meeting Monday 9/19/16

9:30 AM Conference Room

Distributions: Draft 2017 Operating Budget, Preliminary Agenda

Attendees:  Dan Drobnis, Chair; Joseph Guiterrez, Sandy MacGregor, Sal Monaco, Members; Todd Handy, Treasurer and Board Liaison; Dag Ryen; Isabel Ugarte, ECIA Interim GM; Absent: Marti Zieg, Gale Oppenheim.

1. Meeting was called to order at 9:30 AM.  There was no Public Comment.

2. Agenda was adopted as distributed

3. Minutes of the 9/12 Regular Meeting were approved.


4. Analysis of the Draft 2017 Operating Budget

            The draft budget was discussed by each budget line item.  Discussions involved the accuracy of entries, miscoding of categories, and descriptions that were inaccurate or misleading.  Revised forecasts for 2016 and budget estimates for 2017 were made for most of the line items.  The accuracy of the August 2016 financial statement was a particular problem since that statement was used as the basis to develop year-end estimates as well as budget estimates for 2017.

            The meeting was adjourned at 1:10 PM  The Chair will provide a summary of the revisions prior to the next scheduled meeting.