April 24, 2023 Minutes SSE FINANCE COMMITTEE
Minutes
SONOMA STATE ENTERPRISES, INC.
FINANCE COMMITTEE
April 24, 2023MEMBERS PRESENT: Mr. Clayton Trent, Ms. Ashley Blaylock, Mr. Neil Markley, Ms. Anastasia Tosouni, Ms. Amanda Visser
MEMBERS ABSENT: None
OTHERS PRESENT: None
- Call to Order
The meeting was called to order at 3:02pm.
- Approval of the December 1, 2022 Finance Committee Minutes
The minutes passed with no objections.
- Financial Statement Review
Ms. Visser went over the March financial statements. It was noted that the Organization is accruing rent for GMC space and Student Center space at the negotiated rates but if there is a surplus at the end of the year the University may ask for some support, if our reserves are appropriately funded.
Mr. Markley commented on the budget process and we are working on the FY23/24 budget with hopes to bring to the board at the September meeting. We are using the CPI of 5.6% but are waiting for the housing numbers to solidify before we make revenue projections. We aren’t anticipating any other venues opening next fiscal year but Charlie Brown is the next one that will open, once we have the numbers to support it.
- Other Non-Action Items
Next board meeting is May 5th
The meeting was called to order at 3:02pm.
The minutes passed with no objections.
Ms. Visser went over the March financial statements. It was noted that the Organization is accruing rent for GMC space and Student Center space at the negotiated rates but if there is a surplus at the end of the year the University may ask for some support, if our reserves are appropriately funded.
Mr. Markley commented on the budget process and we are working on the FY23/24 budget with hopes to bring to the board at the September meeting. We are using the CPI of 5.6% but are waiting for the housing numbers to solidify before we make revenue projections. We aren’t anticipating any other venues opening next fiscal year but Charlie Brown is the next one that will open, once we have the numbers to support it.
Next board meeting is May 5th
Meeting was adjourned at 3:40pm.