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Finance director reports strong cash position; board accepts financial statements
Summary
EPIC’s finance director told the board the organization is running modestly ahead of budget on revenue, holds roughly $26 million in cash, and is tracking expenses below budget. The board voted to accept the financial statements as presented.
Finance Director (reported) briefed the board on Oct. 9 that EPIC’s year-to-date actual revenue was roughly $47,000,000 and that approximately $26,000,000 was on hand in the bank. The director reported revenue was running about $2,700,000 ahead of budget and that actual year‑to‑date expenses were approximately $51,900,000.
The director described new, more granular cash‑flow dashboards and said finance staff are moving from monthly to weekly tracking to improve insight. Committee members noted contingency planning for potential federal government shutdown scenarios.
A board member moved to accept the financial statements as presented; the motion was seconded and the board adopted the financial statements by roll-call vote with all present voting yes.
No amendments or follow-up assignments were recorded in the open meeting.
