February 20, 2018 Finance and Fundraising Committee Minutes

February 20, 2018

Date: February 20, 2018
Time: 12:00 p.m.
Location: THINC. Board Conference Room

One College Circle, LaGrange, Georgia 30240

Present: Renae Willis, John Radcliffe, Corinne Hodges, Frank McRae

Absent: John Asbell, Robby Burch, Kathy Tilley, Holt Redding, Byron Jones, Perrin Alford, Bill Stump

Others: Kathy Carlisle, Molly Sumner-THINC

Frank McRae called the meeting to order at 12:15 pm.

Quorum was not met, minutes not approved.

McRae covered the P&L

  • John Radcliffe suggested Carlisle and Williams meet with Dr. Johnson to discuss a budget
    line for professional development

    • Carlisle stated she wasn’t aware if that discussion was happening already
    • Radcliffe said he would discuss with Dr. Johnson

McRae went over the P&L

  • Carlisle discussed the marketing funds
    • Open house mailings and digital media included
  • Radcliffe suggested to look over competition funds, BOE covers most of cost
  • Radcliffe advised asking for $20K in professional development funds from BOE
  • Radcliffe asked if $10K in technology would be needed next year.
    • Carlisle stated that needs would change without pledged donations
      • Radcliffe suggested replacing parts not equipment
      • Radcliffe suggested setting up a reserve for technology
    • Carlisle revised the use of the Wellstar Grant funds, informed the committee that a Chromecart was purchased with the funds.

Carlisle gave an update on the financial audit

  • Corinne Hodges asked if the audit findings effected the total.
    • Carlisle stated that the funds where not received in the year it was logged
  • McRae suggested moving the Randy Jackson funds to a Donor Advised account since the Board does not manage the account.
    • Carlisle and Hodges agreed to look into the change
      • McRae will get more information on the account and provide to the
        committee.
  • Carlisle said that a meeting with Abbott & Assoc. and McRae would be made to cover the
    audit findings.

Carlisle gave information on the “Maintain the Momentum” campaign

  • Hodges will follow-up with Mel Haas
  • Callaway Foundation would be better for a bigger campaign
  • Carlisle stated the only risk would be asking too low.
  • Hodges said to ask non-pledged again and not to wait until 2019.
    • Carlisle agreed that it would create too much distance and look as funds were not needed.
  • Carlisle asked the committee for a strategy for the campaign.
    • McRae suggested having a conversation with municipalities.
      • Divide industries and small business into 2 groups.
        • McRae and Hodges will visit municipalities.
    • Carlisle said the Expeditions Program could be used for a ROI for donors.
    • Renae Willis said that industries that had not donated needed to be contacted

Carlisle stated that Holt Redding has stepped-down from the committee.

  • Hodges stated that Tilley would need to be taken off committee.

The meeting ended at 1:15 pm.
Next meeting date: March 19, 2018 at 12pm in the THINC. Board Room, One College Circle,
LaGrange, GA 30240.
______________________________________________ Approval