Finances Working Group

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

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