Event:2014/08/19 Finance Meeting

=Agenda=

Quarterly Reporting from Collectives

 * Sign new subleases (should they be quarterly?)
 * Should include requirements for:
 * Report of past quarter's finances
 * Revenue
 * Rental Costs
 * Non-Rental Costs
 * Investment in Capital Improvements
 * Hol to investigate depreciation schedules / Repayment on a Case by case basis to be approved w/in 30 days of expenditure
 * Financial projection for next quarter
 * Collectives should provide quarterly update of their projected solvency

Rent Commitment

 * 6 month check-in?
 * How to handle collectives who fail to meet their commitments? (Legal / Governance should address)

Loan Protocol

 * All loans (no-interest only) over 10k w/a monthly repayment amount over $1,000/mo to be brought before the collective for approval.
 * Debt cap of $100k

Fundraising?

 * Danny will continue to spearhead fundraising proposals

Event Space Rental

 * Maryanna to spearhead group to draft proposal for renting ballroom.

Build Out Costs

 * We will tracks investments made by individual collectives.

Accounting

 * Judy to ask friend for accounting help
 * Setting up books
 * Annual taxes

Monthly Expenses

 * We would like to work towards having 3 months of reserve in the bank at all times.
 * Costs which will be invoiced w/out consensus (all collectives will split these expenses equally unless otherwise agreed upon at the General Meeting)
 * Rent
 * Utilities
 * Internet
 * Insurance
 * Taxes
 * Basic Supplies (not to exceed $50/mo - tbd by facilities working group)
 * Costs which require consensus from the collectives
 * Invoicing John?

Action Items:

 * Hol will translate Cere's build out costs email into a beautiful Gant chart
 * Maryanna will draft proposal for rental of ballroom
 * Niki will request a quote from Jesse for preparing 1023
 * Niki will set up a Finance Committee email