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.