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Old Works board approves Dec. 1 minutes and financial reports; year-to-date cash flow $400,795
Summary
The Old Works board approved minutes and financials Feb. 16, 2025. The board reviewed November and December variances and noted a year-to-date net cash flow of $400,795; Operations Subsidy and Capital Improvements fund balances were reported.
The Old Works board voted to approve minutes from the Dec. 1 meeting after a motion by Gary Carlson and a second from Ed Beaudette; the motion carried 4-0.
Board members reviewed the November and December financial reports. November showed month-end revenue of $(80,456) against a budgeted $(49,614) (variance $(39,842)); December showed month-end revenue of $(148,115) against a budgeted $(128,885) (variance $(19,229)). The board noted total net cash flow for the year of $400,795 and a year-over-year variance of $95,255. As of Feb. 1, 2026, the Operations Subsidy Funds balance was $2,295,220 and the Capital Improvements Fund balance was $67,373.
A motion to approve the financials was made by Gary Carlson, seconded by Ed Beaudette, and approved by voice vote recorded as 4-0 in favor. The board set its next meeting for April 6, 2025, at 5:30 p.m.
