Event:2015/07/22 Finance Working Group

Members present

 * Barrett
 * Julio
 * Matt
 * Helen
 * Sarah

Agenda

 * Update on Quickbooks
 * Financial updates
 * Matt update on stripe transactions
 * Barrett update on events from Commons WG
 * Discussion on miscalleneous finance stuff
 * Update to delegates
 * Next meeting is Aug 5

Update on QB

 * Almost done reconciling the past bank statements with Quickbooks
 * Once we have the detail, we will have a better idea of the financial history and have more accurate projections in the future
 * Meeting with accountant (Mary)
 * Once that activity is finished, another task: twice a month reconcile to ensure automatic trasactions are accurate

Financial update

 * Some insurance did not get paid (at least 5 policies)
 * Insurance to come up to date $4182.32
 * Rent for August (due Aug 1) $14,149
 * Total for August is $18,3331.32
 * Questions for State Farm
 * Can we do a monthly payment for now?
 * Automation
 * If not monthly payment, and we succeed (buy building) or fail (lose the building)

Matt update on stripe transactions

 * Stripe is the credit card transaction company we used while using Wave App (before QB)
 * some Stripe transactions are missing?

Barrett update on events updates on commons WG

 * Meetings are chaotic
 * Barrett is creating invoices on the fly
 * Barrett can only attend one more meeting
 * Hopefully, process will be more streamlined and we'll have fewer invoices that take in more money each
 * Juilo and/or Matt can take over after Barrett leaves early August

Miscellaneous Finance discussion

 * What is the Omni's relationship with money?
 * Discussion on history with money, conflicts around money, and current state of realism vs. the anti-capitalist nature of this project


 * What is the state of fundraising?
 * Buy the Omni effort is trying to figure out
 * Other efforts have been successful but caused burnout


 * Liaison with Building WG
 * Helen volunteers to do this


 * Phat Beets clarification
 * agreed to pay $750
 * paying the rent and not shared expenses

Finance Updates to Delegates

 * Every delegates meeting should have a brief update
 * Sarah will update tomorrow 23 July, 30 July
 * Who will update the delegates on 13 August?
 * Decide on 5 August

Action Items

 * Sarah to send Julio spreadsheet with all financial obligations
 * Sarah will check Federal Western CU for missing money from Stripe transactions
 * Matt will fill in the rest of Wave app info
 * Sarah will set up meeting with State Farm Tuesday (after 3pm)
 * Julio can do btw 3-5pm
 * Matt can do after 5pm
 * Sarah will set up a meeting with Phat Beets