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Att. 2 B. Executive Committee and Officers Jack thanked Erich Hartmann for his hard work and dedication as Vice President of the NYFS Board of Directors. However, due to many demands on his time and expertise, he will end his time on the board when his term expires in June. Traditionally, the Vice Chair becomes the new board chair but in this case the board will need to designate a different chair when Jack's term also expires in June. C. Executive Search Update Desaree said the search is down to three final candidates and in -person interviews included a presentation by the candidates and in-depth questions regarding strategic planning for the agency. The Executive Search Committee has come to a unanimous consensus on a final candidate and is ready to call a special board meeting on April 6 for a full board vote to consider extending an offer of employment to the candidate. Amelia will attend the meeting and submit official minutes for approval. D. CEO Transition Tara has created a comprehensive document for the incoming President/CEO detailing duties and responsibilities that will aid in the transition. She is also working with the All In One Accounting team to have an information bank of financial documents available. She will be out of the office for three weeks due to hip surgery but if all goes according to plan, will be back the week of April 18 to help with the transition. Roberta has the authority to make financial decisions for the agency during this time and the Finance Committee will be available as a resource. Once a final candidate is officially approved, the board will need to approve a resolution making them the NYFS fiscal agent. V. Finance Committee A. Updates and Monthly Financial Reports Scott reviewed the February financials and noted that NYFS had a net operating profit and that in general revenue is increasingly outpacing expenses. While contributions are down possibly due to the lack of in - person special events while health fees and revenue from contracts for service are up. Personnel expenses are expected to level out as more staff are hired. Overall, he believes that NYFS is moving in the right direction and the agency is better able to track how individual programs are performing financially. Currently NYFS has a little over a month in operating income on hand in addition to the board -designated reserve funds. The goal is to have 3.5 months in reserve and while the agency is moving in the right direction, it will take some time to achieve this goal. 2