FY19: July 1, 2018 – June 30, 2019

The Alliance for Maine’s Marine Econo- the $45 million in bond funds with an additional my conducted the review and evaluations of the $1,063,836 to further maximize the impact of proposals and made recommendations to the the awards. [...] The Chancellor of the University of Maine MTI President is employed by the System, the President of the Maine Maine Department of Economic and Community College System and the Community Development. [...] The Director of the Institute is appointed by the Governor, is an employee of the Department of Economic and Community Development, and is President of the Institute as elected by the Board of Directors. [...] Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. [...] Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.