Finance minutes July 11,2018

Publish Date
Committees

MAPE Finance Committee Meeting Minutes
July 11, 2018

A regular meeting of the MAPE finance committee convened at 12:00pm on July 11, 2018.
Members present (at the MAPE office and via Adobe Connect / conference call): Todd Maki (Chair), Ken Jackson, Marcia Beukelman, Scott Rood and Paul Schweizer. Also present, Todd Utecht our investment advisor from Affinity Plus.

MSP (consensus) to approve minutes from our last finance committee meeting on June 13, 2018.

Discussed investment distribution and performance with Todd U. Funds are invested according to our crisis fund investment policy. CD’s have maturity dates timed to our contract negotiation cycle so we will be able to access the funds without penalty if needed for a contract action. Our consensus is to continue the current strategy and review each quarter. Election results in November will be an early indicator of how the next round of contract negotiations may go and give us time to plan and move funds if needed. Todd U will provide a one page summary that can be distributed at the BOD meeting.

We continued working on the 2019 budget proposal. Todd and Paul will meet in the next few days to work on the budget narrative and presentation, incorporating suggestions from today’s meeting.

We also began working though resolutions for the Delegate Assembly, looking for those with potential impacts to the budget. Consensus was to take some time to review individually and be ready to discuss them at our next meeting.

Meeting adjourned at 2:50pm.

Next meeting scheduled for Monday July 16 from noon to 3pm via Adobe Connect. Topics include review of 2019 budget narrative and review of resolutions for the Delegate Assembly.

Respectfully submitted,
Todd Maki