Apr 16, 2015 - for sending out mass emails. Actions Taken: A motion to accept the budget (keeping in mind that some items are estimates) is moved by R...
Present: Audit & Finance committee: R. Ely S. Foley R. Lane
Staff: A. Arnold, Executive Director C. Du, Assistant
Guests: None. Meeting Convened: The Foundation Audit and Finance Committee meeting was called to order at 11:31 a.m. by committee chair Rod Lane. Public Comment: No public comment. Approval of Minutes: The minutes from the Board meeting held March 19, 2015 were approved. ITEMS
I.
Item IV: Review and approval of budget for FYE 6/30/2014 Key Consideration Rod Lane inquires about the following budget line items: o Accounting and other tax preparations options. Accounting is expensive. Rod Lane asks if the foundation can request that invoices outline exact payments for services. Rod Lane suggests that there may be cheaper accounting services for both general accounting and tax services. o Online tools. Sean Foley explains that the current accounting firm is basically the foundation’s controller. Sean Foley states that he has no issue with looking at other options for tax services. Abby Arnold that the online tools item is to pay for a service that allows the foundation to create a database of contact information for alumni and interested donors. It allows Committee Name: LATTC Foundation Date: May 13, 2015
Status of Document: Final Initials: CD
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MINUTES for sending out mass emails. Actions Taken: A motion to accept the budget (keeping in mind that some items are estimates) is moved by Rod Lane and seconded by Sean Foley.
New Business
Next meeting will bescheduled for Thursday, June 18th,2015, at 11:30 a.m. in the President’s Conference room in Juniper Hall. The meeting will be to consider amendments to the financial procedures recommended by the auditor.
Actions Taken: No action required. Meeting Adjourned: A motion to adjourn the meeting was made by Rod Lane, seconded by Sean Foley. The meeting adjourned at 11:51 a.m.
Committee Name: LATTC Foundation Date: May 13, 2015
