Public Page
2024-11-15 Meeting notes
- Paul Barry
Public Page
Date
Nov 15, 2024
ANTITRUST STATEMENT
As participants in this meeting, we need to be mindful of the constraints of antitrust laws. There shall be no discussions of agreements or concerted actions that may restrain competition. This prohibition includes the exchange of information concerning individual prices, rates, coverages, market practices, claims settlement practices, or any other competitive aspect of an individual company’s operation. Each participant is obligated to speak up immediately for the purpose of preventing any discussion falling outside these bounds.
Agenda
Antitrust / Minutes Approval
October Financials Update
2022 AUP Financial Audit
Draft Results
2023 AUP Financial Audit
Getting the process started
2025 Budget
Key Assumptions
Draft budget by 12/13 meeting
Meeting Minutes
October Financials were reviewed. No surprises and we are ahead of budget. No concerns with YTD financials.
Paul shared the 2022 financial review audit performed by Dean Dorton. The only finding related to a known issue that we have experienced in past years.
Paul shared an Audit Response report that documented the issue and confirmed the discrepancy was in fact the known issue.
We implemented a new procedure in June of 2024 which will hopefully prevent this issue in the future.
We should anticipate we may have the same in in the 2023 financial review which we are about to begin.
There were no other discrepancies or concerns.
2025 Budget Draft
Paul shared a first draft of the 2025 budget.
The committee reviewed the assumptions used to create the budget and confirmed that assumptions were reasonable
A decision was made to use a 5% increase for contractor fees and bonus potential for budgeting purposes.
The Executive Committee will finalize 2025 goals and contract renewals in the coming weeks.
The plan is to review the budget again at the December 13th Finance Committee meeting to finalize and approve for a vote by the full board.
Meeting adjourned
Action items
Decisions
Participants
@Paul Barry @Ashley.Denison @Mike Marlowe @Greg Best Jeff Dietrich
Participants in the meetings are noted for your information. If you have questions on the committee’s activities, please contact a recent attendee.