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Board accepts November financial report; approves settlements and administrative terminations
Summary
CFO Jeremy Verdito presented the November financial report showing stronger-than-expected revenues and moderated expenses; the board accepted the report and later voted to approve settlement recommendations from general counsel and administrative terminations for job abandonment after a closed-session review.
CFO Jeremy Verdito presented financial results through November, reporting higher-than-expected revenues driven by private donations, increased state revenue and federal reimbursements tied to COVID relief funding, offset in part by one-time personnel payments such as hazard pay. Verdito detailed tax collections and year-to-date balances for capital and operating millages and summarized general fund performance and transfer plans.
After the presentation the board moved, seconded and approved the financial report by voice vote.
Later in the meeting, the board entered closed session under the Michigan Open Meetings Act (MCL 15.268(h)) to consider attorney-client communications. After returning to open session, members voted to accept settlement recommendations presented by general counsel (motion carried) and then approved administrative terminations for job abandonment as recommended. The transcript records motions and voice votes carrying the actions; details of the individual settlements and administrative termination personnel were handled in closed session and not read into the open record beyond approval of the recommendations.
