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CCRPC committee reviews mid‑year finances, notes healthy cash but cautions about FY23 capacity
Summary
Committee reviewed FY22 second‑quarter results showing $217,330 in checking and $305,702 in reserves; operations revenues and expenses were each about half of year-to-date budgets. Members flagged a large grant-related journal entry (Racial Justice Alliance) and discussed FY23 staffing and inflationary risks.
The Chittenden County Regional Planning Commission’s Joint Finance & Executive Committee reviewed its FY22 second‑quarter financials on March 2, 2022, finding operations roughly on pace through December while noting cash balances strengthened after a delayed VTrans payment.
Forest Cohen, senior business manager, led the review and reported $217,330 in the operating checking account, $305,702 in the money market reserve, current assets over liabilities totaling $893,547, and deferred income for communities-match of $153,284. Forest said operations support revenues were at 49.5% of budget and expenses at 49.4% through December, and that historically the second half of the fiscal year produces stronger operating results.
Jeff Carr questioned a sizable journal entry labeled “RJA” (noted as more than $80,000). Forest explained the entry recognized revenue and expenses associated with a Vermont Department of Health grant administered on behalf of the Vermont Racial Justice Alliance.
Committee discussion noted FY22 cash flows improved after the delayed VTrans payment posted and the business office focused on collections. Forest said, if current trends continue, staff may recommend transferring funds from checking to the money market reserve.
Members asked about longer‑term pressure on FY23 from inflation and higher operating costs. Charlie Baker, executive director, and Forest said the FY22 budget remained stable but cautioned that inflation and higher costs could affect planning for FY23, and that staff capacity will influence which FY23 projects can be accommodated.
The committee voted to approve the quarterly journal entries for October through December 2021; the motion carried unanimously.
