Event:2014/08/19 Finance Meeting

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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?

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

  • 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