October 15,2019 Finance Minutes

October 16, 2019

Date:               Tuesday, October 15, 2019

Time:              11:20 AM

Location:        THINC Board Room

Present:          Bill Stump, Regina Ingram, John Asbell, Ted Arnold, Gerald Wyatt

Others:           Regan Mock, Dr. Chris Williams

The meeting began at 11: 20 AM.

  • Motion called for approval of August minutes- Bill Stump
    • 1st Regina Ingram, 2nd John Asbell
  • Gerald Wyatt reviewed P&L
    • 16.4% of YTD budget used thus far
    • $4,250 spent towards NCAC
    • Encumbrance:
      • $20,000.00 from GA Power
      • $1,300 transfer from LaGrange High towards FY19 Mabe Scholarship
      • $2,000 in towards SLAM
    • Sustainability:
      • Only additional funds received came from interest of Money Market and Checking
  • Motion called for approval of P&L- Bill Stump
    • 1st John Asbell, 2nd Regina Ingram
  • Gerald Wyatt shared hopes of receiving $10,000.00 for Diverse Power Grant. Application has been submitted.
  • Request to transfer $125,073 from Sustainability to the Budget for CEO Salary- Gerald Wyatt
    • Motion called for approval of the transfer- Bill Stump
      • 1st Ted Arnold, 2nd John Asbell
  • Finance chair recommendations are needed. Bill Stump will ask the Board at the next meeting for volunteers.

Meeting Adjourned.