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CCRPC reports modest FY22 Q3 surplus; approves quarterly journal entries
Summary
Forest Cohen reported a healthy balance sheet through March 31, 2022—operating cash $390,619; reserve $306,381; unaudited year‑to‑date surplus $3,254—and the committee approved January–March journal entries unanimously.
At its June 1 meeting, the CCRPC Finance Committee reviewed FY22 third‑quarter financial results and approved quarterly journal entries for January–March 2022.
Senior Business Manager Forest Cohen presented the balance sheet and revenue/expense statements through March 31, 2022: operating cash of $390,619, money market reserves of $306,381 and current assets over liabilities of $839,654; deferred income for community match stood at $102,304. Forest reported an unaudited year‑to‑date surplus of $3,254 and noted that CCRPC is tracking close to budget (75% through FY22). He cautioned that some cash represents up‑front disbursements (for example, a $75,000 Pandemic Response payment from ACCD) and should not be booked as revenue until earned; staff warned against over‑allocating those funds to long‑term reserves.
Committee members asked about comparisons with pre‑COVID years and the potential for consultant invoices to affect the final quarter; staff said final quarter performance typically improves. Jeff Carr moved and Michael Bissonette seconded a motion to approve the quarterly journal entries; the motion carried unanimously.
