Finance Committee Notes:

Draft

October 13, 2004

Minutes of GPUS Finance Committee teleconference, 7 PM EST

Appoint facilitator - Jake, timer - Jeff, and notetaker - Bill

Approval of minutes not done.

Present: Jake, Jeff, Bill, Jo, Emily, Doug, Laverne

1. Meeting date changed to Mondays, 7:30 P.M. EST. Next meeting October 18th.

2. 2005 Budget.

Jeff discussed fundraising side. Income cost accounting needs to be more accurate.

Jake wants to use portfolio setup from last year and put in different numbers.

Doug would like to see the chart of accounts stay the same. Expenses are under committees rather than "phone" or "travel".

Jeff thinks the layout is basically okay, but thinks some smaller changes are needed.

From now until it is ready, budget will be at the top of the agenda.

Fundraising budget will be separate from remainder of budget.

Bill suggested committees getting smaller amounts won't have to be itemized.

Some discussion was had of the magnitude of direct mail we will do next year.

3. GPUS Fundraising Policy

Question of separate bank accounts (for Black Caucus and etc.).

Separate accounting for the money. For instance, donation envelopes can be coded.

Basically, we are ready to start doing this for the groups.

Income cost accounting system needs to be fixed for this. We will focus on this system next time.