Finance Committee Report – July 2009

Opportunities to be of service:

Contribute to GPUS
Participate in the loan program
Join the Finance Committee

GPUS is in bad shape financially. This is primarily a fundraising problem, not a expenditure problem. Costs have been cut to the bare minimum possible to remain a functioning organization. We lost $23,000 on the 2008 Annual National Meeting in Chicago and our contribution rate is down. FinCom developed the $25,000 loan proposal that was approved by the GNC in June 2009 and we are seeking loan participants to reach that maximum total amount.

FinCom has had conference calls every two weeks, with calls every week during most of the budget process from September through December. We have been a small group and are pleased to have Frank Young WV and Bill Kreml IL approved for membership by the GNC during the last few months. Sanda Everett CA has also joined the committee as preparation for asking the incoming Steering Committee to approve her to replace Budd Dickinson as co-chair. Other members are Jeff Hunter HI and Ruth Gabey ME. Brent McMillan participates as Executive Director and Doug Malkan as Accountant. The committee hopes to add more members and welcomes inquiries from delegates and non-delegates who are vetted by their state or caucus for approval by the GNC.

BRPP developed its Fiscal Policy Amendments during the budget cycle and FinCom was unable to have as much input as we would have liked. Since the defeat of that proposal, we completed and sponsored the Fiscal Policy proposal that was just entering the voting phase as this report went to press.

Throughout the past year FinCom has continued to reduce expenses. Processing of web and credit card contributions have been consolidated and are now handled through our bank at much lower costs. The treasurer handles payroll through our bank at a considerable savings over the charges by the payroll firm that had been used.