Board Minutes April 2020: Difference between revisions
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→Financial Report - Chris
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=== Financial Report - Chris === | === Financial Report - Chris === | ||
* [https://docs.google.com/document/d/1dT-kpHgisMuQTj5L07thsvJckO0NqLCUJePcDY-2-dE/edit?ts=5e8ac711#heading=h.aehgapnpn488 COVID-19 & Bike Edmonton Report] | * [https://docs.google.com/document/d/1dT-kpHgisMuQTj5L07thsvJckO0NqLCUJePcDY-2-dE/edit?ts=5e8ac711#heading=h.aehgapnpn488 COVID-19 & Bike Edmonton Report] | ||
* It's more of a revenue problem than an expense problem | |||
* We're quite close to missing our busy season; it's fortunate that winter has persisted | |||
* Need to make some realistic plans to ensure the organization continues on | * Need to make some realistic plans to ensure the organization continues on | ||
* May be tough to get a loan from a loan, given we are low in assets | |||
* Could look into Bike Edmonton bonds; funds from the public | |||
* What's our timeline to getting an online store? | |||
** We'll be able to start selling bikes this week. | |||
* Option might be closing one shop, if we face an existential crisis | |||
** We can't expect to maintain same revenue with only one shop open (would be less space to store bikes to sell, to have patrons come through) | |||
** Scenario in the budget would only lead to us staying afloat for an additional 3 months, and it would be harder to bounce back with only one shop | |||
=== Program Review Committee - Rachel/Matt/Annya === | === Program Review Committee - Rachel/Matt/Annya === | ||