Housing Catalyst

Attendees

Committee members: Jennifer Wagner-Chair, Ann Green, Lizette Mill

Call to Order

Committee Chair Jennifer Wagner called the meeting to order at 3:30 pm.

Mindfulness Moment

Chief Financial Officer Tonya Frammolino led the group in a mindful moment.

Approval of June 12, 2023 Minutes

Commissioner Lizette Mill moved to approve the minutes of the June 12, 2023 meeting. Commissioner Ann Green seconded and the motion was passed unanimously.

New Business

AFC Checklist

Ms. Frammolino noted that comments and revisions on the Checklist from the meeting with Committee Chair Wagner and Commissioner Mill have been incorporated into the document. If the revised document is approved by the Committee, Ms. Frammolino recommends reviewing and answering the questions on the Checklist at the next meeting of this Committee. She reiterated that this document is meant to prompt a review of the Committee's work, to ensure it is functioning and performing its duties, and addressing issues appropriately.

Financial Services Work Plan Review

Ms. Frammolino reviewed and discussed the Financial Services 3-Year Rolling Work Plan. She noted that each objective noted on the Work Plan is tied to the Strategic Plan goals and strategies.

Charter Review

Ms. Frammolino discussed potential edits to the Committee Charter. Currently, the Charter indicates that it will be reviewed annually. She is requesting the Committee to consider a review every three or five years. Similarly,  a Committee Evaluation is currently to be done annually. 

Following discussion, the Committee agreed to review the Charter and to perform a Committee Evaluation annually.

Both the Charter and Checklist will be discussed at the next meeting of the Committee.

New Committee Member Discussion

Chief Executive Officer Julie Brewen reported that she and Chair Wagner will meet separately with two community members regarding potential membership on the Audit & Finance Committee. Ms. Brewen noted that both have valuable knowledge that would be of benefit to this Committee.

Wellington Audit

Ms. Brewen provided an update on the Wellington audit. She has held discussions with the Town Administrator and the Mayor about the issues. 

Board Report Draft

Ms. Frammolino shared the draft Board report which will go to the full Board at its next meeting.

Commissioner Mill suggested separating accomplishments from activities in the report to differentiate between them. Ms. Frammolino will make this change.

Comments | Announcements

HAI Risk Management - Low Loss Ratio Award

Ms. Frammolino reported that Housing Catalyst received from HAI recognition of its low loss ratio which resulted from low average losses from claims within the past year.

Adjourn Meeting

Chair Wagner adjourned the meeting at 4:33 pm.

Next Meeting Date - August 14, 2023 @ 3:30 pm - Regular Meeting