Difference between revisions of "Finances Working Group"

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(Created page with "=Finances Working Group Scope= ==Mission:== To ensure the continued financial health of the Omni Oakland ==The OOC Finances Working Group is tasked with:== * recording all...")
 
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==Mission:==
 
==Mission:==
To ensure the continued financial health of the Omni Oakland   
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To ensure the continued financial health of the Omni Oakland.  
  
 
==The OOC Finances Working Group is tasked with:==
 
==The OOC Finances Working Group is tasked with:==
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** rent,
 
** rent,
 
** taxes,
 
** taxes,
** insurance,
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** 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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* 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)
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= Meeting Minutes Archive =
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<DynamicPageList>
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category            = Finance
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count                = 100
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order                = descending
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Revision as of 17:42, 12 December 2017

Finances Working Group Scope

Mission:

To ensure the continued financial health of the Omni Oakland.

The OOC 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 OOC 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 OOC 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 OOC 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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