Board Minutes Special Budget Meeting September 2024

Editing Board Agenda Template These minutes are not yet approved. They are scheduled for review and approval at the upcoming board meeting.

• Location: Google Meet
• Start Time: 7pm

Attendance

• Meeting Chair: Keith
• Minute-taker: Adam
• Board attendance: Marcel, Keith, Adam, Colin, Heather, Sarah, Matt, Derek
• Staff attendance: Coreen, Vaughan
• Regrets:
• Absent:
• Guests:

Call to Order

• Meeting called to order by Keith at 7:05 pm.

Budget Discussion

Review of scenarios:

1. Almost-balanced budget, keeping staffing costs the same. 2. Same as #1, with 10% increased staffing costs and a $13,000 shortfall. 3. Reducing staffing costs by 20%, revenue by 10%. 4. Update to #2 with increased revenue estimates per Coreen, resulting in $4-6k shortfall. (There was a request for a similar options, with slightly smaller increase in staffing costs to make it balanced-- this was deemed to be equivalent.) 5. No bike builders, reducing new bike sales by 95%, creating quite a shortfall.

Initial poll: 1. Derek 2. no one 3. Sarah, Keith, Matt, Heather 4. Adam, Marcel, Colin 5. no one

Derek was put on the spot to choose, and 3 vs 4, preferred #3.

MOTION

To accept budget scenario #3.
Moved:	Keith
Seconded:	Matt

Aye	No	Abstain
Sarah, Keith, Matt, Heather, Derek	Colin, Adam, Marcel
Passed

Adjournment

MOTION

To adjourn the meeting at 7:26 pm.
Moved:	Keith
Seconded:	Derek

Aye	No	Abstain