Finances Working Group Scope

Mission:

To ensure the continued financial health of the Omni Oakland.

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.

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.

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.

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)