Sonoma State University

January 31, 2020 Minutes SSE Finance Committee

Minutes

Sonoma State Enterprises Inc.
Finance Committee
Friday, January 31, 2020

MEMBERS PRESENT:

Arden Childers, Neil Markley, Jefferey Reeder, Megan Varnadore, Amanda Visser

MEMBERS ABSENT:

None

OTHERS PRESENT:

Olivia Tighe

I. Call to Order

This meeting was called to order at 2:07 p.m.

II. Approval of the November 20, 2019 Finance Committee Minutes

The minutes were approved without any objections

III. Financial Statement Review

Ms. Visser reviewed the Statement of Activity, explaining what makes up each budget line. Sales remain low due to drop in enrollment, a loss in revenue from fire-related closures. Investments and mutual investments were also reviewed.

IV. 5 Year Financial Plan

We have been asked to do a five year financial plan by the University which Ms. Visser and Mr. Markley developed. Ms. Visser explained that the revenue projections were based on numbers from the budget office’s enrollment projections. The financial plan is assuming no growth in 2021 and modest growth after that. The financial plan will be revisited at future meetings.

V. Other Non-Action Items

Meeting was adjourned at 2:55 p.m.