Difference between revisions of "Finances Working Group"
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To ensure the continued financial health of the Omni Oakland. | To ensure the continued financial health of the Omni Oakland. | ||
==The | ==The Omni Finances Working Group is tasked with:== | ||
* recording all costs and revenues and monthly reporting of this information in a transparent way; | * recording all costs and revenues and monthly reporting of this information in a transparent way; | ||
* paying bills out of omni oakland collective's bank account or accounts; | * paying bills out of omni oakland collective's bank account or accounts; | ||
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* alerting OOC of any breach or other variance from agreed financial contributions by member collectives. | * alerting OOC of any breach or other variance from agreed financial contributions by member collectives. | ||
==The | ==The Omni Finances Working Group is empowered to:== | ||
* issue checks for monthly expenditures: | * issue checks for monthly expenditures: | ||
** rent, | ** rent, | ||
** taxes, | ** taxes, | ||
** insurance, | ** insurance (Liability, D&O, Building), | ||
** utilities (PG&E, EBMUD, WM, and Internet), | ** utilities (PG&E, EBMUD, WM, and Internet), | ||
** basic operating supplies (TBD by facilities wg, not to exceed a set amount); | ** basic operating supplies (TBD by facilities wg, not to exceed a set amount); | ||
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* issue invoices to each member collective for a share of all other costs as agreed by their respective consensus process. | * issue invoices to each member collective for a share of all other costs as agreed by their respective consensus process. | ||
==The | ==The Omni Finances Working Group is not empowered to:== | ||
* issue checks for any item not agreed to by OOC Delegates' Meeting; | * issue checks for any item not agreed to by OOC Delegates' Meeting; | ||
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==The | ==The Omni Finances Working Group co-operates with other working groups in ways including but not limited to the following:== | ||
* provides quantitative fundraising information to fundraising working group and communications working group to develop fundraising strategy | * provides quantitative fundraising information to fundraising working group and communications working group to develop fundraising strategy | ||
* adjusts business logic regarding member financial contributions as determined by governance working group | * adjusts business logic regarding member financial contributions as determined by governance working group | ||
* establishes operating costs and budget based on information from facilities working group and streamlines reimbursement procedures accordingly(TBD) | * establishes operating costs and budget based on information from facilities working group and streamlines reimbursement procedures accordingly(TBD) | ||
= Meeting Minutes Archive = | |||
<DPL> | |||
category = Finance | |||
count = 100 | |||
ordermethod = sortkey | |||
order = descending | |||
</DPL> | |||
Latest revision as of 04:05, 28 April 2021
Finances Working Group Scope
Mission:
To ensure the continued financial health of the Omni Oakland.
The Omni Finances Working Group is tasked with:
- recording all costs and revenues and monthly reporting of this information in a transparent way;
- paying bills out of omni oakland collective's bank account or accounts;
- collecting funds from member collectives and depositing them in omni oakland collective's account or accounts;
- forecasting the financial health of the omni oakland collective and highlighting risks and opportunities;
- filing all paperwork regarding finances as required by law;
- alerting OOC of any breach or other variance from agreed financial contributions by member collectives.
The Omni Finances Working Group is empowered to:
- issue checks for monthly expenditures:
- rent,
- taxes,
- insurance (Liability, D&O, Building),
- utilities (PG&E, EBMUD, WM, and Internet),
- basic operating supplies (TBD by facilities wg, not to exceed a set amount);
- issue invoices to each member collective for a share of the above listed monthly costs to be agreed and reviewed quarterly;
- issue checks to designated parties for all other outlays as agreed by 3/4 consensus at the Omni Delegates' meeting;
- issue invoices to each member collective for a share of all other costs as agreed by their respective consensus process.
The Omni Finances Working Group is not empowered to:
- issue checks for any item not agreed to by OOC Delegates' Meeting;
- all costs other than monthly operating costs listed above must be decided at the OOC Delegates' meeting.
- if a CPA is to be retained for annual taxes, we will seek approval of an additional line item from OOC Delegates' Meeting
- issue invoices to member collectives for costs to which they have not consented;
- member collectives are encouraged to agree to pay for costs identified as being necessary to carrying out OOC's mission.
- prescribe financial adjustments, penalties, or benefits for any party
- any variance from agreed contributions to the group will be brought to the attention of the OOC delegates for a decision.
- measure or prescribe non-financial contributions from member collectives
- any adjustments to financial contributions should come from governance working group or OOC Delegates' Meeting.
The Omni Finances Working Group co-operates with other working groups in ways including but not limited to the following:
- provides quantitative fundraising information to fundraising working group and communications working group to develop fundraising strategy
- adjusts business logic regarding member financial contributions as determined by governance working group
- establishes operating costs and budget based on information from facilities working group and streamlines reimbursement procedures accordingly(TBD)
Meeting Minutes Archive
<DPL> category = Finance count = 100 ordermethod = sortkey order = descending </DPL>