Finances Working Group
From Omni Commons
- 1 Finances Working Group Scope
- 2 Meeting Minutes Archive
Finances Working Group Scope
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:
- 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)