Date: April 4, 2022
Time: 6:00 p.m.
The meeting of the Finance Committee of the Baltimore Children & Youth Fund, Inc. was held on April 4, 2022, via video conference.
Committee Members Attendance: John Morris, Board Treasurer; Jacqueline Caldwell; Marcus Pollock; Louis Williams
The meeting was called to order by the Board Treasurer, John Morris, at 6:15 pm.
I. Call to Order – John Morris, Board Treasurer
II. Grounding Conversation about Committee Operations – John Morris, Board Treasurer
Morris led the discussion around the Finance Committee’s consensus-based decision-making process.
Dana Cole Moulden, Lead for Operations and Finance, presented supporting documentation and a framework for consensus-based decision-making.
III. Fiscal and Internal Controls Policy Updates – Dana Cole Moulden, Lead for Operations and Finance
Cole Moulden presented operations models and best practices research on quasi-public agencies’ financial controls, spending authority, and contracting authority. Cole Moulden also provided an overview of current BCYF, Inc. operating procedures.
IV. Cash Management/Banking Recommendations – Dana Cole Moulden, Lead for Operations and Finance
Cole Moulden presented a summary of BCYF, Inc.’s current cash management/banking procedures and shared best practice recommendations for the future.
The Committee reached a consensus to present Cole Moulden’s recommendations at the next Board Meeting on April 12, 2022.
V. Financial Statements Status- Dana Cole Moulden, Lead for Operations and Finance
Cole Moulden provided an update on the status of the BCYF, Inc. third quarter financial statements.
VI. Discussion & Next Steps
The Committee discussed the following next steps:
- Cole Moulden will finalize best practice recommendations for fiscal and internal controls and review financial statements at the next Committee meeting.
- The Committee will work together to determine a regular meeting schedule.
VII. Adjournment – John Morris, Board Treasurer
Morris adjourned the meeting at 7:15 pm.
The next meeting of the Finance Committee will be April 11, 2022 at 6:00 pm via Zoom.