Board Minutes September 2020: Difference between revisions
Board Minutes September 2020 (view source)
Revision as of 01:58, 15 September 2020
, 15 September 2020→Financials - Chris C (10 min)
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=== Financials - Chris C (10 min) === | === Financials - Chris C (10 min) === | ||
* Budget is set up to show budget vs. average from past 3 years | * Budget is set up to show budget vs. average from past 3 years | ||
* Bike sales is projected to do better than anticipated, due to output of bike builders. Increased bike building hours by 28 hours/month, and aim to increase in winter to sell next summer. | * Revenues | ||
* Casino revenue has dropped to zero, and anticipate at least a 6-month delay in our slot. A lot of uncertainty on how the reopening of casinos is being handled. | ** Bike sales is projected to do better than anticipated, due to output of bike builders. Increased bike building hours by 28 hours/month, and aim to increase in winter to sell next summer. | ||
* Had been regularly receiving community grants, though might be impacted by City of Edmonton budget cuts; may not receive full amount. | ** Casino revenue has dropped to zero, and anticipate at least a 6-month delay in our slot. A lot of uncertainty on how the reopening of casinos is being handled. | ||
* Hoping to increase donations next year | ** Had been regularly receiving community grants, though might be impacted by City of Edmonton budget cuts; may not receive full amount. | ||
* Not expecting much from private grants | ** Hoping to increase donations next year | ||
* Rentals of tandem bike & bike racks are off the table, as this is typically tied to events. | ** Not expecting much from private grants | ||
* Shop fees are going up due to appointment bookings, and full-service rather than DIY repairs | ** Rentals of tandem bike & bike racks are off the table, as this is typically tied to events. | ||
* Used parts sales will go down due to lack of DIY bike repairs | ** Shop fees are going up due to appointment bookings, and full-service rather than DIY repairs | ||
* Expecting to pay more for new parts because it's easier to sell new parts online | ** Used parts sales will go down due to lack of DIY bike repairs | ||
** Expecting to pay more for new parts because it's easier to sell new parts online | |||
* Expenses | |||
** Hefty accounting costs this year, but hoping this will stabilize over time | |||
** | |||
'''* Financials to be included as a standing agenda item for upcoming board meetings.''' | '''* Financials to be included as a standing agenda item for upcoming board meetings.''' | ||