SILC Finance Committee Meeting 

April 15, 2014 (2pm-3pm) 

 

Attendees are followed by an asterisk (*). 

 

Kathleen Boate * 

Kay Miley 

Kim Lambert 

Oshana Watkins * 

Ping Miller * 

Sandy McMillan * 

Will Miller * 

Rene Cummins * 

(guest) Sierra Royster * 

 

• Finance committee has reviewed March financials 
• Cumulative Spend to-date is at 43% ($82,530.36) ; monthly MAR spend is at 
6.3% 
• On Target for VR reimbursements. 
• From operations perspective, no issues with spend. 
• Detailed Meeting Minutes noted below…. 


 

Finance committee reviewed 990 form and March financial/expenditure reports 

 

• 990: Kathleen has been working on the 990 form and has details to support the 
numbers on our 990 form from an audit and paper trail perspective. We will 
submit the 990 form next week after meeting with accountants to re-review data 
since this is the first time we as a committee have filled this form out. She is 
also working to see how SILC handles this in Quick Books and how we can 
improve our entries in the future so that details between 990 forms and 
quickbooks synch-up and are visible/ transparent. 
o Meeting with accountants on April 22 9:30am meeting next week before 
sending out 990 form. 
o Making change to quickbook so that Balance Sheet and 990s synch-up 
in details; 






 

• Reviewed March finances - overall spend and reimbursements is in good 
standing 
o Expenditure report shows uptick under Utilities/telephones for March due 
to the following: 
. Utilities: increased amount due to new IT service set-up fees ; 
phone services; internet services ; IT resource services (last one 
for Nerd Herders) 



o Based on existing budget of 192,850, we are currently at 43% burn 
. If new proposed budget is approved (179,350), we would be at 
46% burn 
. We anticipate an uptick in financial spend later in year for IL 
Summit 



o Reimbursements to-date have been received and are timely from VR 





 

Committee discussed preparation for April meeting 

Committee reviewed topics for our April SILC meeting to include review and vote 
on reallocation of Part B funds. Requires contract amendments and requires a 
VOTE from the SILC. 

 

1) SILC identified $13,500 savings to be reallocated to CILs 
a. Proposed new Budget (with vote during April meeting) = take 192,500 
to 179,350 



2) The Shabazz Center is unable to contract for Part B dollars this year 
a. Recommend that these dollars be reallocated to the other CILs to fund 
SPIL goal activities ($8,358) 





 

Committee discussed what the PRESSING NEEDS are 

Per Renee….Centers need funding for networking implementation and consumer 
transition out of nursing homes 

1) Focus on goal 1 and goal 5 – put funding behind these goals 
2) Future years…ensure funding exists under goal 1 and goal 5 


Oshana wanted to make sure we are hearing the interest of all other centers. 

1) Per Sandy, Renee is the point of contact and voice for all centers. She runs 
ideas/issues to each center before bringing ideas back to finance committees 


Oshana recommended that finance committee educate whole council on where 
numbers are going during April meeting. 

Key discussion takeaways: 


o Funds are going to already existing contracts and we need to move funds to 
already existing contracts 
o Current year funding focus. Goal is to not lose Part B. 
o We can discuss during april SILC meeting how $21K to be allocated and have 
crucial discussions with facilitator to finalize allocation, votes, and ensure contracts 
are amended timely so that centers have time to spend these funds. 


 

 

Minutes by Ping Miller