April 22, 2019 Minutes SSE Finance Committee

April 22, 2019 Minutes

SONOMA STATE ENTERPRISES, INC.
FINANCE COMMITTEE
Monday, April 22, 2019

MEMBERS PRESENT:

Megan Varnadore, Christina Gamboa, Neil Markley, Amanda Visser, Paula Lane

MEMBERS ABSENT:

None

OTHERS PRESENT:

Jill Crenshaw

I. Call to Order

The meeting was called to order at 9:38 a.m.

II. Approval of the February 20, 2019 Minutes

The minutes passed with no objections.

III. Quarterly Financial Statement Review

Ms. Visser reviewed the March 31, 2019 financial statements in detail.

IV. ACTION ITEM: 2019/2020 Budget

Mr. Markley discussed the 2019/2020, 2020/2021 SSE budget proposal. Reflected in 2019/2020 are: a modest increase of revenue primarily from price increases, partially off-set by lower meal plan participation; increased compensation commensurate with the collective bargaining agreement; lower operating costs to offset impacts of lower meal plan participation. Reflected in 2020/2021 are: an across the board increase to 2019/2020 revenue and expense of an anticipated CPI of 3%.

Motion to approve: Christina Gamboa
Seconded: Megan Varnadore
All approved

V. Other Non-Action Items

Meeting was adjourned at 10:21 a.m.