February 25, 2020 Finance Minutes

March 2, 2020

Date:               Tuesday, February 25th, 2020

Time:              11:30 AM

Location:        THINC Board Room

Present:          Bill Stump, Ted Arnold, John Asbell, Leonard Phillips, Jamey Jackson

Others:           Gerald Wyatt, Kim Burgess

The meeting began at 11:52 AM.

  • Contributions- Gerald Wyatt
    • Lanier Family: $5,000.00
    • KIA Employees: $750.00
    • Synovus: $10,000.00 toward SLAM
    • WP Development Authority: $25,000.00
    • Mando: $20,000.00 (pending arrival)
    • Scott Family: $150.00
  • Financials- Gerald Wyatt
    • Accounts are limited as to what we can charge from and there is trouble at time identifying proper accounts.
    • Budget of $600,000 and a goal of 1,000 students in THINC’s 5th year.
    • THINC is not over budget.
    • Sponsorship table purchased for SHRM Leadership conference, which 8 THINC students have been handpicked per instructor recommendations to attend, for $1,000.00.
  • Randy Jackson fund- Jamey Jackson
    • Plans to send a THINC student on an International Business trip.
  • Approval of transfer of assets to TCSS to be presented to Board in today’s meeting- Gerald Wyatt
  • Financial audit is approaching. Cost for audit is $12,500 and $2,000 for financial statements.

Meeting Adjourned.