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Monte Rio board reviews July P&L showing $77,934.78 in expenses and reaffirms procurement thresholds
Summary
The board reviewed a July P&L reporting $77,934.78 in expenses and reiterated procurement/approval thresholds: Administrator approvals up to $500, Chair up to $5,000, Board over $5,000, and purchases over $10,000 require competitive bids.
The P&L report for July showed $77,934.78 in expenses, according to the board packet reviewed Aug. 12. Administrator Marina McTaggart summarized budget and procurement rules: administrators may approve budgeted expenses up to $500, the Board Chair may approve expenses up to $5,000, the full board approves expenses over $5,000, and any purchase over $10,000 requires competitive bid solicitations.
The board also noted a Budget Committee meeting will be scheduled with accountant Craig Collins in October to review FY 24–25 first-quarter performance. No budget amendments or transfers were recorded at the Aug. 12 meeting.
