Housing Catalyst
Housing Catalyst Audit & Finance Committee - September 11, 2023
Zoom: https://us06web.zoom.us/j/88289231878?pwd=U3hkeTNZUXUxU2ZRL0VmN2dYL2p0QT09
Monday, September 11 2023
3:30pm - 5:00pm MDT
Julie Francis is inviting you to a scheduled Zoom meeting.
Topic: Housing Catalyst Audit & Finance Committee - September 11, 2023
Time: Sep 11, 2023 03:30 PM Mountain Time (US and Canada)
Join Zoom Meeting
https://us06web.zoom.us/j/88289231878?pwd=U3hkeTNZUXUxU2ZRL0VmN2dYL2p0QT09
Meeting ID: 882 8923 1878
Passcode: 188935
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Meeting ID: 882 8923 1878
Find your local number: https://us06web.zoom.us/u/keeMNOHC0n
Agenda
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Mindfulness Moment
3:30 pm MDT1-3 minute interval - bring focus to the meeting at hand. Take opportunity to arrive into the space and do good work.
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Call to Order5 mins
3:30 pm-
Approval of Minutes
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Reports3:35 pm
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Annual Comprehensive Financial Report (ACFR)20 mins
3:35 pmExternal accounting and audit firm Eide Bailly will be present to review final FY2022 financial results.
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Audit Results10 mins
3:55 pm
External accounting and audit firm Eide Bailly will be present to review final FY2022 audit results.
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Old Business
No old business for this meeting.
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New Business10 mins4:05 pm
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Board Report - DRAFT10 mins
4:05 pm
Review and discuss report to Board and determine any changes before approval for submittal.
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Comments | Announcements4:15 pm
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S&P Rating Update10 mins
4:15 pm
Final rating returned.
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Next Meeting Date | Planning Calendar5 mins4:25 pm
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SPECIAL MEETING - September 25, 2023 @ 2:00 pm
IN PERSON meeting. Housing Catalyst Mountain Office Conference Room.
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REGULAR MEETING - October 9, 2023 @ 3:30 pm
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Planning Calendar
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Adjourn Meeting
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RESOURCES
2023.08 - Audit & Finance Committee Meeting Minutes.pdf
Minutes Tab
Housing Catalyst
Housing Catalyst Audit & Finance Committee - September 11, 2023
Mon Sep 11, 2023 9:30 PM - 11:00 PM UTC
Attendance
Committee members: Jennifer Wagner-Chair, Karen Dunbar, Lizette Mill
Call to Order
Committee Chair Jennifer Wagner called the meeting to order at 3:33 pm.
Mindfulness Moment
The group engaged in a Mindful Moment as the meeting was called to order.
Approval of Minutes
Committee member Lizette Mill moved to approve the minutes of the August 14, 2023 meeting. Committee member Karen Dunbar seconded and the motion was passed unanimously.
Reports
Annual Comprehensive Financial Report (ACFR) and Audit Results
Alexis Odden and Mackinzie Wilson of Eide Bailly, Housing Catalyst's external accounting and audit firm, presented a review of the final FY2022 financial results and final audit report.
The presentation is located in Boardable for reference.
New Business
Board Report - DRAFT
Chief Financial Officer Tonya Frammolino shared the draft Audit & Finance Committee report to the Board. The report is located in Boardable for reference.
Ms. Frammolino reminded the Committee of the special budget meeting, scheduled for Monday, September 25. This will be an in-person meeting at Housing Catalyst's Mountain office. The Committee will review the final budget at the October meeting.
Comments | Announcements
S&P Rating Update
Ms. Frammolino reviewed the final completed report from Standard & Poors (S&P), noting that the rating was not downgraded and is still AA-; this is considered very healthy and stable. Discussed that there are nine key rating factors and all are ranging between strong and extremely strong except for the factor on financial performance which is rated vulnerable. The primary component that is impacting the financial performance factor is the EBITDA to revenue ratio which is below the S&P targeted 20%. The report is located in Boardable for reference.
Next Meeting Dates
SPECIAL MEETING - September 25, 2023 @ 2:00 pm
IN PERSON meeting. Housing Catalyst Mountain Office Conference Room.
REGULAR MEETING - October 9, 2023 @ 3:30 pm
Adjourn Meeting
Chair Wagner adjourned the meeting at 4:27 pm.
Attendance
Members
| Name | Attendance |
|---|---|
Jessica Born |
|
Julie Brewen |
|
Michele Christensen |
|
Justin Corey |
|
Karen Dunbar |
|
Tonya Frammolino |
|
Julie Francis |
|
Kristin Fritz |
|
Tara Gaffney |
|
Rachel Gaisford |
|
Ann Green |
|
Carly Johansson |
|
Eric Lea |
|
Traci McGraw |
|
Lizette Mill |
|
Jennifer Wagner |
Guest Members
| Name | Attendance |
|---|---|
Mackinzie Wilson,Eide Bailly |
|
Scott Moulton |
|
Alexis Odden |
Documents Tab
| Type | Name |
|---|---|
|
HC FY2023 - Rating Report |
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