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Foundation reviews finances, projects $1.1M year‑end balance and debates scholarship award levels
Summary
The foundation reviewed a financial report showing a roughly $862,000 current fund balance (scholarships comprising about $540,000), projected revenues and expenditures for the year, and discussed raising scholarship minimums to attract more applicants.
The board reviewed a financial report presented by the meeting's finance presenter (identified in discussion as "Neil") who outlined starting balances and projections across restricted, unrestricted and scholarship accounts.
Key figures presented included starting restricted funds of about $122,000, student wellness designated funds of roughly $47,000, and a scholarship fund reported at about $445,000 early in the year. The presenter said the board’s fund balance…
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