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Board reviews finances, sees growing reserves and plans fee audit
Summary
Assistant Executive Officer Mark Ito told the board the BVNPT projects about $24.96 million in revenue vs. $19.25 million in expenditures and rising months-in-reserve; staff said a fee audit will be done to align fees with actual program costs.
During the Nov. 22 meeting, Assistant Executive Officer Mark Ito presented the board’s fiscal position and urged prudence despite a growing reserve balance.
Ito said the board’s current-year budget is $18,080,000 (a decrease of roughly $318,000 from the prior year). Based on revenues through fiscal month 3, the board projects roughly $24,960,000 in revenue — largely driven by license-renewal fees…
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