Board of Directors Agenda

1. Call to Order of the Meeting of the Finance Committee

The Committee Chair will call the meeting to order if a quorum is present. Announcements may be made at this time.

2. Public Comments

Opportunity for members of the public to address the committee.

3. Approval of the minutes

The Committee Chair will request approval of the minutes of the December 2, 2015 Finance Committee meeting.

Download the December 2, 2015 Minutes (PDF, 123 KB)

4. Endowment accounts update

Philip Burger of T. Rowe Price will present the 2015 performance report for the Conservancy’s endowment accounts.

5.Groundwater exchange program revenue

Conservancy management has met with Gilbert Associates, the firm that prepares the Conservancy’s IRS Form 990, regarding whether revenue generated from the groundwater exchange program constitutes unrelated business income tax (UBIT).

It is Gilberts’ opinion that the Conservancy’s participation in the groundwater exchange program does not meet the standard for unrelated trade or business and would not be subject to UBIT on revenue from the groundwater exchange program.

The committee, at its December meeting, requested legal counsel also provide an opinion. This item follows up on that request.

6. Public Comments

Opportunity for members of the public to address the Committee.

7. Adjournment

Official adjournment of the meeting.