September 22, 2020 Executive/Finance Minutes

September 25, 2020

Date:               Tuesday, September 22th, 2020

Time:              11:30 AM

Location:        THINC Board Room

Present:          Bill Stump, Ted Arnold, Jamey Jackson, Dr. Penny Johnson

Others:           Gerald Wyatt, Regan Mock

The meeting began at 11:35 AM.

  • Welcome- Gerald Wyatt, THINC CEO
  • P&L- Gerald Wyatt, CEO
    • Reviewed August reports.
    • Disbursements: $2,246
    • Sustainability: $1.162 mil
    • Future Sustainability: Interest gained on Money Market and Checking
    • Designated Funds received: $55,000 from KMMG for replacement of 3-D printers and Tooling-U Program
    • Cash Flow: $1.674 mil cash balance
  • Motion to approve August financials & minutes- Bill Stump
    • 1st Ted Arnold, 2nd Dr. Penny Johnson
  • Grant- Gerald Wyatt
    • Still plan to reach out to Dr. Jane Robinson regarding assistance with grant writing, but she just had surgery this past week.

Meeting Adjourned