Finance Committee Minutes - April 19th, 2011

 

Finance Committee Minutes (approved May 17th, 2011)
April 19, 2011
Commitments are italicized
 
In Attendence
Kurt Lauer
Andrew Geller
Bob Crow
Sun Lee
Azure
Paula Small
Debbie Rabidue
Mel Reslor
Alex Roberts
 
Meeting starts at 6:10pm
 
Check-in/intro
 
Approve March Meeting Minutes
Match minutes are approved.
 
March 2011 Financial Statements Review
Debbie will email March Financial Summary and Financials for Board meeting.
 
Finance and Membership need to do some reconciliation on the year to date actual Membership revenues. Also Development and Finance will do this for Mid-Year projections.
 
Discussion on why Membership is $49,000 over budget. Increased giving by members, not increased membership.
 
Sun comments on increased fulfillment, more EFT’s and larger gifts.
 
Erin wonders if there is a way to track success of major giving, if certain donors are giving more because of Development Director. Andrew discusses creating a report for the entire fiscal year, over 5 years, and amounts given, much like he makes a report for specific drives.
 
Debbie wonders if we just under budgeted we should get a better idea after the next pledge drive.
 
Sun discusses Development projects and Events coming up to raise money. KBrew beer and coffee, summer raffle, book and record sale, etc. Sun will probably be taking some Grant classes after the Strategic Plan gets approved.
 
Debbie asks if Sun can draft up a Development projection list.
 
Paula comments that we should come up with ideas for events/appreciations/etc. for major donors but also continue to have events that include all donor levels.
 
Kurt has development ideas that he will send to Sun.
 
Mel is going to research why Broadcast Equipment and Purchases is over budget.
 
Sun is going to talk to Ras Danny about Reggae Rising tickets.
Upcoming Mid-Year Budget Projections
Debbie will send out Mid-Year Budget Projections.
 
Strategic Plan Draft
Strategic Plan draft and survey regarding draft are on the KBOO website. Finance Committee members are encouraged to review draft and fill out survey.
 
Photo Copier
Andrew is going to look into leasing and servicing a new photocopier because our current one is on the fritz.
 
Safety Deposit Box Update
Judy and Mel opened the safety deposit box at KeyBank and changed it to Bank of the Cascades.
 
The Board President and Board Treasurer will have access to the safety deposit box, at staff it will be Chris Merrick and Mel. Finance will be in charge of handling changing names on access when there is turnover on the Board. Keys will be kept at the station and would be checked out from Finance when needed.
 
Finance Department Update
Debbie will be contacting Kris from Kern & Thompson to be getting preliminary paperwork to start work on the year end prep for the audit.
 
Debbie will be scheduling Linda Barkus of Wilken & Co. to come in and do the Mid-Year Controllership.
 
Erin will be out of town for the May Finance and Board meeting. Paula will handle minutes at the next Finance meeting and relay finance information to the Board at the May Board meeting.
 
Debbie is continuing to train Mel so that she can focus on the year-end prep for the audit, updated desk manual and revamping the chart of accounts.
 
Finance Computer Update
Debbie is asking staff to look at buying a new finance computer during the Mid-Year Budget projection.
Before that Mel, Debbie and Tom will look at a computer in the engineering department that may be able to be used for finance. They will try to get information to the Board by the Monday Board meeting in the event that money would need to be approved for a new computer.
It would be good for all Department computers to be assessed as far as health and replacement of computers. Board members on Finance will bring this up at the Board meeting in a discussion of IT needs at the station.
Items from Staff Meeting
Debbie and Mel talked to staff about the Finance Coordinator position. Staff is leaning towards having Mel do the Finance Assistant position as detailed in that job description. In 60 days the staff would like to look at the position and potentially open up a hire for Finance Coordinator. The benefits of doing this are that it keeps the staff from being overloaded on personnel issues right now. The other benefit is that Mel can train deeper into the position while Debbie is still around.
Paula will work on drafting job descriptions for Finance positions, specifically for internal controls.
Debbie will check in with Linda Barkus to see how she feels about having check logging done within the finance department.
Finance recommends that during supervisor training for membership drive that we have phone answerers write credit card numbers only on the carbon copies.
Staff Salary and Structure
 
Meeting ends at 8:40pm
Next Finance Meeting will be May 17th, 6pm at KBOO.

 

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