Sonoma State University

December 3, 2021 Minutes SSE Finance Committee

Minutes

SONOMA STATE ENTERPRISES, INC. FINANCE COMMITTEE
December 3, 2021

MEMBERS PRESENT:

Mr. Justin Arenson, Mr. Neil Markley, Ms. Amanda Visser

MEMBERS ABSENT:

Ms. Ashley Blaylock, Ms. Anastasia Tosouni

OTHERS PRESENT:

Ms. Jill Crenshaw

Meeting was adjourned at 3:45pm.

  1. Call to Order
    The meeting was called to order at 2:39pm.
  2. Approval of the April 29, 2021 Finance Committee Minutes
    The minutes passed with no objections.
  3. Financial Statement Review
    Ms. Visser reviewed the October 31, 2021 statement of activity and statement of net position.
  4. Investment Update
    Ms. Visser reviewed the cash and short-term investment position of the organization and that led into discussion of the board designated reserve allocations and the SSE Reserve Policy.
  5. ACTION ITEM: Approval of the Reserve Allocation
    The reserve allocation was unanimously approved.
  6. ACTION ITEM: Budget Revision
    The revised budget based on updated student numbers was presented. It was unanimously approved.
  7. Other Non-Action Items
    None.