Sandra Prince Banker

The Board discussed the financial status of the loan program, including current loan portfolio metrics and FY 2026 performance. A key decision was made to adjust the interest rate for loans. The Director provided an update on loan applications, agency administration, and legislative activities. The Board also reviewed the 2025 Annual Report and established a schedule for upcoming meetings. During a closed session, the Board addressed personnel matters, reviewed loan delinquency reports, and approved specific actions regarding delinquent accounts, including repossession orders and loan term adjustments.

The board reviewed financial reports, including loan portfolio activity and budget projections for the upcoming fiscal year. Discussions included updates on loan program projects, special initiatives, and legislative monitoring. The board approved amendments to the Governance Manual and Bylaws regarding term limits for officers and reviewed the Strategic Plan for the fiscal year. A compensation committee was established to evaluate employee salary and benefits, and the board approved an adjustment to the interest rate for loans effective in March.

The Assistive Technology Loan Fund Authority Board of Directors convened for a regular business meeting. The board discussed the loan program's financial status, including the direct loan portfolio, loan activity for FY 2026, and the default rate. They also reviewed graphs showing loans issued and repayments made, as well as projected cash flow. The board discussed and approved an adjustment to the interest rate, effective November 1, 2025. Updates were provided on loan program projects, special initiatives, and legislative activity. The board also discussed and decided to move the March board meeting to February 25, 2026. The 2025 Annual Report was submitted to the Governor and General Assembly and will be posted on the ATLFA website. The board went into closed session to discuss personnel issues, loan approvals, and other board matters. After reconvening, they certified that only business lawfully exempted from open meeting requirements was discussed. A motion was made to repossess a delinquent account if not paid by October 15, 2025, and another motion was made to add a past due amount to the end of a loan to bring the account current. The board reviewed the current delinquency report and the board detail activity report for loan decisions by the Loan Committee.

The Assistive Technology Loan Fund Authority Board of Directors convened for a regular business meeting. The board reviewed and approved the minutes from the previous meeting. The financial director presented a report, highlighting the loan portfolio's performance, new loan activity, and default rates. The executive director provided updates on loan program projects, special initiatives, and legislative activities. The board discussed and approved the Fiscal Year 2026 budget, including modifications to the interest income projection. A slate of officers for the upcoming year was elected. The board also accepted guidelines for collections as an internal document. A closed session was held to discuss personnel issues and loan approvals, followed by a review of the delinquency report and loan decisions.

The Board discussed the state budget finalization and its impact on staff salary increases, and accepted the draft Strategic Plan as the final 2022-2023 Strategic Plan. The financial report highlighted the direct loan portfolio's performance, including loan activity, balance, and default rate. Updates were provided on the development of a new cloud-based loan program database and the migration of QuickBooks and Down Home Solutions to the cloud. The Board also discussed strategies for additional marketing to increase loan applications. An interest rate adjustment was made, increasing the ceiling rate and setting a specific rate for new vehicles. The election of officers for the upcoming term was conducted, and the draft 2023 budget, incorporating staff salary increases and database development costs, was approved. A closed session was held to discuss personnel issues and loan approvals, followed by a review of the delinquency report and loan decisions by the Loan Committee.