Finance & Legal minutes: 2011-09-12

Minutes:

HI Katie,

No worries -- the rebate issue -- if there are funds for rebate (still not
certain until we hear from Carl) -- will definitely be brought to the
plenary!

Thanks for your other feedback.

Amy

On Mon, Sep 19, 2011 at 11:27 PM, Katie Wimsatt <gokatiedid at gmail.com>wrote:

> Hi F&L, a couple of things:
>
> > At its last meeting, F&L concluded that its proper role is to be very
> > conservative in safeguarding the community’s financial health, and we
> were
> > inclined to say that no funds should be rebated unless they exceed the
> > substantial outstanding debt to the community.
> There was a big backlash when F&L made a decision not to rebate money a few
> years ago, for the same reasons I believe. I don't disagree with this
> decision or idea - but I think it would go a long way for F&L to bring this
> as a discussion item to the plenary. Some people were very angry about it
> last time. I was upset about what I felt was a lack of community input on
> it last time. Just a suggestion.
>
> > This led to a discussion about cash vs accrual accounting, and from there
> > the idea arose to obtain some financial training both for the community
> as a
> > Board of Directors and for F&L members. See next item.
> This is a fabulous idea. I think we would all benefit from understanding
> our financial info better.
>
> > We decided to ask Work Com if we could count this as a half-day of work
> for
> > a community work day. This is something we can’t easily accomplish in
> > regular committee meetings. We think that a four-hour block will make
> the
> > difference in getting this done.
> Great idea! When I saw how much time you were going to need to work on
> this I thought, "Oh no!". You should definitely get work credit of some
> sort for this.
>
> -- Katie
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