Board Minutes August 2015: Difference between revisions
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* Discuss priorities for 2015-6 | * Discuss priorities for 2015-6 | ||
* Anna: Previously, we had 4 tabs on the budget - Overhead costs, BWS budget, BWN budget, and Total. Could separate out two more tabs - YCR2 budget and Spoke budget? This would allow us to give YCR2 and Spoke their annual budget that is distinct and precise. If they can track their own revenue & expenses and confirm with our monthly financial reports, I think they will have better understanding of their financial capacities. | * Anna: Previously, we had 4 tabs on the budget - Overhead costs, BWS budget, BWN budget, and Total. Could separate out two more tabs - YCR2 budget and Spoke budget? This would allow us to give YCR2 and Spoke their annual budget that is distinct and precise. If they can track their own revenue & expenses and confirm with our monthly financial reports, I think they will have better understanding of their financial capacities. | ||
** Neil: I can tell them how much they have spent. I cant tell them how much they ..... YCR2 has their own partner funding that we dont know about so I dont know a lot about their info. | |||
** JOn: one concern YCR2 has is that they cant control their expenses. Would like them to have their own account so they have signing authority to do this within their budget or their own account. | |||
*** Neil: My issue is communication. If i'm not finding out now that they're spending $ when they spend it, if they have no need to contact me to spend it, how do I find out when the cheque gets cashed what has happened. Sometimes with the main EBC acct this happens and I dont know about them until they are cashed. | |||
*** Chris CH: YCR2 has a volunteer bookkeeper that is willing to do their finances. If we give them the agency to do the finances and to submit a report... Neil: if they report to me by the 5th or 10th each month then I can integrate it. WIth the scale that they are operating they would do well as their own organization. It is important not to get their $ mixed up in our general account. This ties in to how EBC gets funded too. THe shops bring in $ and pay for themselves, Coreen's wage, Keith's wage, etc. If we bring in other orgs, how do they support our overhead costs? They bring in $ to support their programs but beyond the program what are they contributing to EBC's overhead (staffing, space, etc.) YOu could set it up as a management fee that YCR2 pays each month. What resources are they using, how much does this cost EBC, and a bit of overhead. | |||
** Nancy: If they are managing their own finances, but arent subject to the same board oversight as the rest of the organization, they should be subject to the same rules. They are part of our organization. It seems like we're giving them the best part of it ($, freedom of decision making). | |||
** Neil: THis is similar to what happened with ABBCC. They wanted the $ they brought in but they were part of EBC (being housed by EBC). | |||
** Jon: If they manage their own budget, we could ask in return some sort of mamagement fee and a report with direction on where they are going. | |||
** Geoff: When YCR2 presented to us last month, they seemed to be looking for integration with EBC. Jon: I"m only speaking about financial. Operationally would all continue to be integrated but that EBC would be compensated for the soft costs of keeping the org running. There is a lot of value in having a fully functioning board and org to help them go. But financially, they need ability to plan out how they are going to run their program, how to manage their funds, etc. Neil: They have other bank accounts with other organizations (eg. Rotary). Jon: Rotary funding was a condition because $ had to be held by charity so EBC could not do that. | |||
* CUrrently forecasting about $15k this year. First loss in last 3 years. There is space for our org to move but what is our plan for plugging this hole? | |||
* Neil: I have put together what I consider to be a 'stay the course' budget. Estimating each shop grows 6%. Employ similar staff to this year (FT ED, 35 BW, 30 Prog Coord, 20 Outreach, 20 BB. | |||
* YCR2 has huge grant funding. Dont see them needing support from EBC budget. I used the same budget as last year ($2k) for them. | |||
* Spoke. Last year we paid honorarium for coordinator. $1800 for supplies and food. | |||
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* Discussion notes: | * Discussion notes: | ||
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