Board Minutes December 2023: Difference between revisions
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**Keith: The budget that changes the ED position allows us to keep the shops, but drains the casino in 1 year. The second budget, with 1 shop, lets us use the casino revenue over two years. There's two issues: cash flow/bankruptcy, and then paying rent. | **Keith: The budget that changes the ED position allows us to keep the shops, but drains the casino in 1 year. The second budget, with 1 shop, lets us use the casino revenue over two years. There's two issues: cash flow/bankruptcy, and then paying rent. | ||
**Coreen: There's also an in-between: use casino to pay rent in winter, and then use revenue in the summer to pay the rent. Idea is to get us to spring 2025. | **Coreen: There's also an in-between: use casino to pay rent in winter, and then use revenue in the summer to pay the rent. Idea is to get us to spring 2025. | ||
**Alexandra: How is that different from these budgets? | |||
**Coreen: All the rent is being paid by the casino. In the scenario I'm proposing is we start to draw from revenue in summer. | |||
**Greg: Coreen is suggesting we only apply the casino revenue in the winter months. | |||
**Marcel: The hybrid is a definite possibility. We could extend the life of both the operating account and the casino account. | |||
**Nazz: When do the revenues start picking up? | |||
**Greg: March, April. | |||
**Nazz: What is our burn ratio? Are we running close to zero by March? | |||
**Greg: We will run out before then if we continue operating how we are operating. The fundraiser will help. | |||
**Coreen: To answer the quesiton about revenues picking up, we are planning on having our bike sale in April. | |||
**Alexandra: What happens to the ED'S work if we choose the budget that change's the ED's role? What are their responsibilites? | |||
**Greg: I will be honest, I don't think I can continue if we decide on that budget. I think you need to call it something different. I think you need to recast the role as an administrator, and redo the job description. The shop managers are very effective. It's a long discussion to recast the role, but if you go with that budget, the role would no longer be done by me. | |||
* No South Shop | * No South Shop | ||