Board Minutes April 2020: Difference between revisions
→Financial Report - Chris
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** Optimistic to say we'll have a significant revenue; might be 5% of regular revenue | ** Optimistic to say we'll have a significant revenue; might be 5% of regular revenue | ||
** In tight financial times, people might turn to more low-cost bike repair options | ** In tight financial times, people might turn to more low-cost bike repair options | ||
** Drop-off repair may be set up after online bike sales and parts sales | ** Drop-off repair may be set up after online bike sales and parts sales (going live next week) | ||
* We're quite close to missing our busy season; it's fortunate that winter has persisted | * We're quite close to missing our busy season; it's fortunate that winter has persisted | ||
* | * External Sources of $ | ||
* May be tough to get a loan from a loan, given we are low in assets | ** May be tough to get a loan from a loan, given we are low in assets | ||
* Could look into Bike Edmonton bonds; funds from the public | ** Could look into Bike Edmonton bonds; funds from the public | ||
** Subsidizing staff wages until start of June | |||
** | * Option in face of existential crisis: closing one shop | ||
* Option | |||
** We can't expect to maintain same revenue with only one shop open (would be less space to store bikes to sell, to have patrons come through) | ** We can't expect to maintain same revenue with only one shop open (would be less space to store bikes to sell, to have patrons come through) | ||
** Scenario in the budget would only lead to us staying afloat for an additional 3 months, and it would be harder to bounce back with only one shop | ** Scenario in the budget would only lead to us staying afloat for an additional 3 months, and it would be harder to bounce back with only one shop | ||
=== Program Review Committee - Rachel/Matt/Annya === | === Program Review Committee - Rachel/Matt/Annya === | ||