Finance & Legal minutes: 2003-02-26

Minutes:

Finance & Legal
Wednesday 2/26/03
5 pm, Sunward

Attendance: Jim G, Judith, Dale, Willie, Katie


1. Budgeting

Update from JD regarding CH budget
We won't be bringing our proposal on CH completion to the first meeting in March. Notify infoco that we'll want time at the next (2nd March) meeting. Monkey-DG.
Monkey-make sure this is a topic at the next steering meeting.


Contingency fund (part of the project budget)--More discussion on prioritization

Prioritization: One idea is to deal with items that can vary in cost by having a base item and then an upgrade item that is separate (this is Becky's idea).
What is up for grabs? Are there items that folks will expect to come out of the contingency fund without any decision?
Items without argument: furnishing the CH, play structure, some landscaping?
What about items that were cost-cut?
We believe that all items (including cost-cut items, which in theory have been "approved") should be part of the prioritization. But we can "seed" the list with items that were high on the list but got cut.
Monkey-Review minutes around July of 2002, come up with a list of items from our cost-cutting as a start of our list. Jim will do this by March 5.
One suggested process: make up a list of items, with costs and descriptions, and for items with variable cost have a base cost and one or more upgrades. We take the surveys (each item ranked 1 through N) and generate the list. How to tweak? How to tweak if the people at the meeting are not the same set as the people who did the survey? We need statistics for each item, showing how much support (a graph). People can suggest an adjustment, and try to convince everyone.
We'll need a way to confirm every adult member has had input, especially those without email.
Do a kid survey?
What does the survey look like?
How to fill it out?
Willie could make an on line survey, easy to import data to a spreadsheet.
Monkey-Jim will look for the survey that Patti did in the past-this seemed to be a good form for the survey. Jim will ask Patti for any hints she has for surveys at GO.
Monkey-Dale will ask Debbi about surveys.
Willie would be happy to analyze the data for the surveys.
How do we get the dollar amounts and descriptions, including from CHOPS?
Suggestion-you can only add an item to the list if it is accompanied by a cost and a description (justification).
We need to start telling committees soon that they need to furnish us with different levels of funding.
Monkey-Willie will bring in a summary of the proposals so far, and send out by the next meeting. Continuous 2-variable, Becky's basic & upgrade, discrete 2-variable, Willie's knapsack, Willie's points.
Monkey-Dale will ask Debbi about the issue of prioritization with variable costs.


--Normal operating budget ("obligatory")
The February deadline has passed, with little input. How to get more input?
Who are we waiting from?
Monkey-for our next meeting Dale will come up with a list of what committees have reported and what we need to know yet. Send out any emails with specific names on it.
When we send out anything about the contingency, remind committees of the normal operating budget (and the discretionary).

--Discretionary budget items (special, often one-time expenses)
What process to use? Same as for contingency? Or, is allocation easier?

Some budget issues:
--automatic 3% increase in dollar amounts
--when contingency is known: close to the end
--how to add, delete, and modify various categories of budget items
--SW categories:
obligatory (taxes, utilities)
operating (per committee, including short term repair)
carryover
discretionary
long term capital reserve

2. Insurance
--Kelly--postponed.
Monkey-Dale will email Kelly about insurance.

3. Investment policy
--Notes from meeting at Sunward w/investment folks

4. Convener
Jim will take on convenership until Willie, Katie, or Dale step in or 3 months. Willie has offered to take minutes.

5. LTCRF

Cooler (future agenda items):
Set up book-keeping and billing procedures
Update charter for F&L
BoA maintenance and "publication"

Next meeting is March 12th, at Sunward, 5 pm L-room.