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Finance Committee Notes: Monday Feb 14 7:30- 8:30 PM EST Approval of minutes of Feb 7 meeting - nicely done by Brent 1. Database and Income reporting systems Update - Doug : income statements show income broken down due to Emily not making a bank deposit without first breaking down income on the deposit report. Everyone please review the minutes from last week and take a look at the Jan. financial statements. Emily: David not done yet with his work on the db income reporting work. 2. Just Coffee - Emily: In touch with Co-ops and neither are corporations. Therefore we can accept checks from them. Emily needs to work things out with Just Coffee still for the order processing - whether they order directly from us or directly from Just Coffee - fair trade coffee distributer - Café Verde is our brand. Jeff suggests we sell Kona Coffee because it's made in the USA. 3. 2005 Budgeted Reserve - Jake: Policy calls for a target of 3 months reserve. We have $23,300 per month in expenses. 3 months would be $69k. Discussion of how to fund that. Discussion of having between 1 to 3 months reserve. Proposal to take reserve up to 1 month this month. Twinkle on it. 4. 2005 Budget Committee, Caucus & Network Tier 1 Proposals- Jake sent to Fincom list the first draft of request for proposals to committees to start the process to authorize tier 1 money. Jake doing a draft 2 and will send to fincom. Total maximum in tier 1 is $8,700. Suggestions include making a form for the committees to fill out, listing out what information is required, contact person, detail of expenses, and that the request include the timing of the proposed expenses. Parameters of what expenses are allowed would be judged on a case by case basis. 5. GPUS Sharing Policy with Committees, Caucuses and Networks- Issue still not decided as to a policy of what percentages to share and in what situations. Sustainers, states, direct mail, events, DIA, etc. DIA has sharing checkoff box as of last week for caucuses but percentage not decided. Discussion of 50% sharing off of DIA main page and 100% sharing on a caucus or committee page or dedicated source. Discussion of whether there will be an overhead allocation or not for 100% donations to caucus or committees. No decision on this yet. Question for next week: Are we going to have sustainers who share with caucus or committees? 6. Strategic Plan Committee Update- Jeff is Fincoms nominee. Jeff did not make it on the committee though. 7. Fin Com List serve Update- Jake working on people that are not receiving from the list. Please respond to Jake if you are on the committee. Jake sending it out again to the list. 8. Large $25,000 donor in 2004: Jake had a conversation
with donor. Even though donor has interest in specific programs he will
leave it at the
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