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Finance Committee Meeting

October 12 @ 11:00 am - 12:00 pm

REGIONAL ACCESS PROJECT FOUNDATION FINANCE/INVESTMENT COMMITTEE MEETING
Monday October 12, 2020 at 11:00 AM
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https://us02web.zoom.us/j/87468796012
CALL-IN Information 1 669 900 6833 Meeting ID: 874 6879 6012

This meeting is being conducted utilizing teleconferencing and electronic means only. There will not be a physical location. Members of the public may be able to participate by telephone, using the following dial-in information:1 669 900 6833 Meeting ID: 874 6879 6012 Reasonable accommodation: Any individual with a disability who requires reasonable accommodation to attend or participate in this meeting may request assistance by emailing MReyes@RAPFoundation.org. Notification at least 48 hours prior to the meeting start time will enable us to make reasonable arrangements to ensure accessibility to the meeting.

I. CALL TO ORDER

II. APPROVAL OF THE AGENDA
In order to meet Brown Act requirements, items may be added to the agenda only upon a decision by a majority of the Board of Directors to add the item because of a need for immediate action.

Motion:         Second:              Yes____ No____ Abstain

III. PUBLIC COMMENTS/PRESENTATIONS:
Public Comments: All persons wishing to speak are requested to provide their name so they may be recognized at the appropriate time. General comments regarding non- agenda items will be called at this time. Specific comments regarding agenda items will be called for during discussion of each item. Please be prepared to limit your remarks to 3 minutes.

IV. Approve the Finance-Investment Committee September 14, 2020 Draft Minutes. (attach. 1)

Motion:          Second:             Yes____ No____ Abstain

V. Review the Financial Statements for period ending August 31, 2020 and make recommendation to the RAP Board at the October 28 meeting (attach. 2A, 2B, 2C).

Motion:          Second:          Yes____ No____ Abstain

VI. Closure of the First Foundation Bank Account, leaving only the Money Market Account open until the next Maturity Date for redetermination.

Motion:         Second:         Yes____ No____ Abstain

VII. Open Six New Bank Accounts at First Republic Bank to be used as needed in the future.

Motion:         Second:          Yes____ No____ Abstain

VIII. Review and Revise the Reserve Funds Policy (attach. 3)

Motion:       Second:       Yes____ No____ Abstain

lX. Redesignation or the Desert Fast Pitch allocated amount of $60,00 for CNA staffing and development.

The Finance-Investment Committee assigned the CNA Committee to consider and return with a recommendation. CNA Staff is expected to address the following: 1) Explain to CNA Committee to consider creating a “nest egg” with any Grants intended for CNA. This balance will not impact the RAP contribution, unless the Board decides otherwise. 2) Create a proposed budget 3) Describe the Scope of services 4) Address long-term sustainability

Motion:      Second:         Yes____ No____ Abstain

X. Board Comments or future actions. Quarterly Investments Review of WF and IECF Accounts. Next tentative meeting set at 11:00 AM. on Monday Nov. 16

XI. ADJOURNMENT: Agendas will be posted on the Foundation website – www.rapfoundation.org – a minimum of 72 hours prior to the meeting date. All public record documents for matters on the open session of the Agenda are available for inspection at the meeting listed in this Agenda, and at the following location three (3) days prior to the meeting date: Regional Access Project Foundation, 41550 Eclectic St. Palm Desert, CA 92260. If a public record document that relates to a matter on the open session of the Agenda is distributed less than 72 hours prior to the meeting date, the public record document shall be available for inspection, at the same time it is distributed, at the address listed above. Upon request, this agenda will be made available in appropriate alternative formats to persons with disabilities, as required by Section 202 of the Americans with Disabilities Act of 1990.

Details

Date:
October 12
Time:
11:00 am - 12:00 pm