Board Minutes August 2012: Difference between revisions

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=== Treasurer's Report ===

Currently sitting on a $17,000 loss, though several grants will be recognised in August, as we'll bill the Police for Spoke-related reno costs, receive funding from MEC for the rental program and file the reimbursement request for STEP funding towards Justin's wages. Still expect a year end loss of approximately $8k. Have spent $15k this year renovating the North Shop. We need to stop now and work with it as is.

[[media:July_2012_financial_report.xls | July Financials]]

[[media:June_2012_financial_report.xls | June Financials]]

=== Executive Director's Report ===

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-I don't necessarily have a problem with this idea, but do we need a broader discussion (within the board, advocacy committee, or members) before something becomes a de facto position of EBC? -Adam

===2013 Budget===

Our financial year ends at the end of August, and we need to establish a budget for 2013. Neil has put together a starting point which includes a planned loss of $20,000, after a loss in the $8k range during 2012 (Based on preliminary estimates for August). While we have reserves to cover this kind of loss in the short term, it isn't a good plan, and takes us below a prudent reserve level. Action should be taken to increase revenue or cut expenses in some way.

Raising revenue is generally the path of least resistance, as the deficiency could be covered by one or receiving just one or two grants, depending on size. Much of the expenses are salaries and rent, which - while not entirely immovable - would be a major change of direction to cut.

The 2014 casino is scheduled for the 3rd quarter, a full two years from the last one, so casino revenue must be stretched over a longer time period than previously.

===AGM planning===

@@ Line 33: / Line 33: @@
 === Treasurer's Report ===
+Currently sitting on a $17,000 loss, though several grants will be recognised in August, as we'll bill the Police for Spoke-related reno costs, receive funding from MEC for the rental program and file the reimbursement request for STEP funding towards Justin's wages.  Still expect a year end loss of approximately $8k.  Have spent $15k this year renovating the North Shop.  We need to stop now and work with it as is.
+[[media:July_2012_financial_report.xls | July Financials]]
+[[media:June_2012_financial_report.xls | June Financials]]
 === Executive Director's Report ===
@@ Line 76: / Line 79: @@
 -I don't necessarily have a problem with this idea, but do we need a broader discussion (within the board, advocacy committee, or members) before something becomes a de facto position of EBC? -Adam
+===2013 Budget===
+Our financial year ends at the end of August, and we need to establish a budget for 2013.  Neil has put together a starting point which includes a planned loss of $20,000, after a loss in the $8k range during 2012 (Based on preliminary estimates for August).  While we have reserves to cover this kind of loss in the short term, it isn't a good plan, and takes us below a prudent reserve level.  Action should be taken to increase revenue or cut expenses in some way.
+Raising revenue is generally the path of least resistance, as the deficiency could be covered by one or receiving just one or two grants, depending on size.  Much of the expenses are salaries and rent, which - while not entirely immovable - would be a major change of direction to cut.
+The 2014 casino is scheduled for the 3rd quarter, a full two years from the last one, so casino revenue must be stretched over a longer time period than previously.
 ===AGM planning===

Board Minutes August 2012: Difference between revisions

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