Board Minutes March 2023: Difference between revisions
→Executive Director's Report (5 min)
Jason.wang (talk | contribs) |
|||
| (4 intermediate revisions by 2 users not shown) | |||
| Line 33: | Line 33: | ||
=== President's Report === | === President's Report === | ||
*[https://docs.google.com/document/d/ | *[https://docs.google.com/document/d/1pk0JxTnFXt7nwILekLw4M5K0ZKBLLwYRth2nS-P_p6Y/edit?usp=share_link President's report] | ||
=== Treasurer's Report === | === Treasurer's Report === | ||
*[https://docs.google.com/document/d/ | *[https://docs.google.com/document/d/1tgXYvhfz4Sm0i8bVH9hyR7A4n0IluqRIShahwFW89qk/edit?usp=share_link Treasurer's report] | ||
=== H.R. Committee Report === | === H.R. Committee Report === | ||
| Line 45: | Line 45: | ||
=== Treasurer's Report – Continuation (5 min)=== | === Treasurer's Report – Continuation (5 min)=== | ||
* Comparative Statement until end of January 2023 was not attached earlier and so reviewed with the entire board. | * Comparative Statement until end of January 2023 was not attached earlier and so reviewed with the entire board. | ||
** Note: the | ** Note: part of the larger donation recorded in January 2023 includes the donation that will be used to pay for the audit fees upon the audit's completion. | ||
* For clarification: | * For clarification: | ||
** The $60,000 loan from the Federal government | ** The $60,000 loan from the Federal government is due at the end of December 2023. If $40,000 is paid by then, the remaining $20,000 should be cancelled (i.e., written off or forgiven) by the government. Note: This deadline is within the next board term's cycle. | ||
** The deferred Casino revenue listed under non-current liabilities is an accounting practice to keep track of casino money | ** The deferred Casino revenue listed under non-current liabilities is an accounting practice to keep track of casino money received and accrued over 24 months. These casino funds are used to pay the rent for the shops. The casino funds have now been fully used up. As such, the deferred casino revenue could be reduced to $nil ($0) and be removed as a liability off of the balance sheet. Therefore, with the ~$73k of current assets, means that at the moment, if the $40k federal loan needed to be paid off, there would still be $33k in current assets. | ||
=== Governance Committee Report (5 min)=== | === Governance Committee Report (5 min)=== | ||
| Line 54: | Line 54: | ||
=== Executive Director's Report (5 min) === | === Executive Director's Report (5 min) === | ||
* [https://docs.google.com/document/d/ | * [https://docs.google.com/document/d/19hzte5bsyteyIxMrZ--gnQC88Fb4-uBkxXP84CIl4DE/edit?usp=share_link Executive Director's report] | ||
* Greg (ED) is seeking feedback on the usefulness of these reports as they are incredibly time-intensive. | * Greg (ED) is seeking feedback on the usefulness of these reports as they are incredibly time-intensive. | ||
** Board feedback is generally that the level detail is great, but can be reduced. | ** Board feedback is generally that the level detail is great, but can be reduced. | ||
| Line 162: | Line 162: | ||
*** Andi can source one and there is also one at the Stanley Milner library. | *** Andi can source one and there is also one at the Stanley Milner library. | ||
*** Kelly likes the website because it is visible and donations incentivize other donations | *** Kelly likes the website because it is visible and donations incentivize other donations | ||
*** Governance Committee will | *** Governance Committee will return to the Board with a draft donor recognition policy for consideration in two (2) months | ||
=== Vélo Canada Bikes Membership Renewal (10 min) === | === Vélo Canada Bikes Membership Renewal (10 min) === | ||