The New College Institute Finance & Resource Development Committee met to review a detailed budget package and heard that year‑to‑date expenditures are running at roughly 30% of the annual budget.

Speaker 4 summarized the package, saying the organization has "only spent About 30%" of its total budget so far, and noted that timing of large projects can cause big swings in month‑to‑month percentages. The presenter (Speaker 1) walked members through the summary page and the supporting schedules that show individual account expenses, revenue summaries and maintenance‑reserve estimates tied to planned projects.

Committee members asked about specific categories. Speaker 1 said payroll was under budget in the report because November included one payroll cycle while December will include three; that timing, not permanent cuts, explains that variance. Speaker 3 and others noted supplies and travel are currently under budget because several program purchases and travel events are scheduled later in the fiscal year and reimbursements can post after the reporting period.

On audits and external reviews, Speaker 2 said the annual GWO audit shifted toward a March rotation this year and estimated the current review at about $3,700 compared with up to $10,000 in some prior years. The committee was told the organization has intentionally held some projects while monitoring the fiscal outlook.

The committee discussed last‑quarter strategies for prepaying leases, memberships and other items to manage carryover and to keep the agency in alignment with June 30 funding windows. Speaker 2 also highlighted an energy‑savings plan prepared by the in‑house facilities director that is under review and expected to be implemented next quarter, with the potential for long‑term utility savings.

The committee received the presentation and indicated plans to continue refining the budget, to prioritize planned maintenance and security projects, and to return any items that require formal board approval to a future meeting.