Financial Subcommittee - September 25, 2013
A. Roll Call
B. Call to the Public – This is the time for the public to comment. Members of the Board may not discuss items that are not specifically identified on the agenda. Therefore, pursuant to A.R.S. § 38-431.01(H), action taken as a result of public comment will be limited to directing staff to study the matter, responding to any criticism, or scheduling the matter for further consideration and decision at a later date.
C. Financial Performance Framework - Discussion and possible action on whether:
- The Unrestricted Days Cash measure should be modified to an “Unrestricted Days Liquidity” measure that would include the charter holder’s unrestricted cash and any available balances on lines of credit disclosed in the audit.
- The charter holder’s financial performance should be reviewed as part of compliance checks conducted to issue a letter of good standing.
- The Board should consider further changes to the Financial Performance Framework and Guidelines to address statements made at the Board’s August 12, 2013 meeting regarding the framework’s use by outside entities, including lenders and rating agencies.