Board Minutes December 2015: Difference between revisions
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* Minute-taker: Derek | * Minute-taker: Derek | ||
* Food by: Karl | * Food by: Karl | ||
* Jasmine has regular commitment on 3rd Wed of month. | |||
* <span style="background: lime;">Action Items:</span> '''Anna''' to book January meeting space at UofA. '''Geoff''' to create 2016 availability survey for all board to see if diff monthly date works better for Feb-Dec. | |||
== Current & Completed Business == | == Current & Completed Business == | ||
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* May 2015: '''Geoff, Nancy''' will draw up an Executive Director performance plan by June 30 2015. | * May 2015: '''Geoff, Nancy''' will draw up an Executive Director performance plan by June 30 2015. | ||
* May 2015: '''Dan, Anna, Rachel''' will review existing TOR and draft new TOR and Policies to clarify responsibilities and accountabilities for committees and board members by September 30 2015. | * May 2015: '''Dan, Anna, Rachel''' will review existing TOR and draft new TOR and Policies to clarify responsibilities and accountabilities for committees and board members by September 30 2015. | ||
* Jul 2015: '''Jon, Nancy, Anna, Geoff, Chris Chan''' will meet to get an orientation and see if Asana can be used for board tasks/to do list too | * Jul 2015: '''Jon, Nancy, Anna, Geoff, Chris Chan''' will meet to get an orientation and see if Asana can be used for board tasks/to do list too | ||
** <span style="background: lime;">Action Items:</span> '''Anna''' to add 30 min meeting for exec and Chris prior to Jan board meeting to do Asana orientation. | |||
* Sep 2015: '''Anna''' to post final financial policy to wiki. | * Sep 2015: '''Anna''' to post final financial policy to wiki. | ||
* Oct 2015: '''Anna''' will post the board vacancy (Alexey/Rachel) to website. | * Oct 2015: '''Anna''' will post the board vacancy (Alexey/Rachel) to website. | ||
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* Oct 2015: '''Anna''' will follow up with Chris to complete final edits to Annual Report and post publicly. | * Oct 2015: '''Anna''' will follow up with Chris to complete final edits to Annual Report and post publicly. | ||
* Nov 2015: '''Jon, Geoff''' will update Servus bank account signing authorities (remove Neil, add Geoff & Gemma). | * Nov 2015: '''Jon, Geoff''' will update Servus bank account signing authorities (remove Neil, add Geoff & Gemma). | ||
~ Karl left for ABBCC conference call 8:00pm ~ | |||
=== Charitable Status Update (2 min)=== | |||
* Our application was rejected, as we need to file a number of papers with the original stamp from corporate registry | |||
* Jonathon will collect the appropriate papers and resubmit | |||
=== Rusty's Rules 101 (10 min) Anna === | === Rusty's Rules 101 (10 min) Anna === | ||
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** Strategic: | ** Strategic: | ||
* Discussion notes: | * Discussion notes: | ||
* <span style="background: lime;">Action Items:</span> '''Jasmine''' will type up Board Retreat notes. | |||
~ ~ Break 8:12-8:25 ~ ~ | |||
== New Business == | == New Business == | ||
=== Board Resignation (2 min) === | |||
* Nathan is moving to Calgary, and is resigning from the board effective Dec 17th, 2015 | |||
* <span style="background: yellow;">Motion:</span> To acknowledge Nathan Treloar's resignation from the EBC board, effective Dec 31, 2015. Moved by Jon, seconded by Anna. '''Motion Carried.''' | |||
=== Paths For People Seed Funds === | |||
* <span style="background: yellow;">Motion:</span> EBC donate $500 to Paths For People. Made by: Kathy. Seconded: Derek. '''Motion Carried.''' 8 for, 0 against | |||
* <span style="background: lime;">Action Items:</span> '''Chris''' will contact P4P to send cheque (who to write to?), discuss EBC recognition, and ask for outline for a budget going forward. | |||
~ Rachel departed 8:30pm ~ | |||
=== Financials 101 (20 min) Jon === | === Financials 101 (20 min) Jon === | ||
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* Neil's board retreat presentation from 2013 - see [https://docs.google.com/document/d/1RUUDzcemfgDYY8jC_Qdet8Chux0zcz9W4eag7PuwsHo/edit page 5-6 here] | * Neil's board retreat presentation from 2013 - see [https://docs.google.com/document/d/1RUUDzcemfgDYY8jC_Qdet8Chux0zcz9W4eag7PuwsHo/edit page 5-6 here] | ||
* Balance Sheet | * Balance Sheet | ||
** | **financial position of the position at a point in time | ||
** tells us what we have in cash, assets, owing (accounts payable), other liabilities, net position (equity) at a single point in time (vs over a period of time) | |||
** 3 parts: assets, liabilities, equity | |||
** Assets = | |||
*** Current assets = cash on hand, accounts receivable (square, paypal, etc), unrestricted cash, restricted cash (casino funds can only be paid for specific things), | |||
*** Non-current assets ($ tied up somewhere, not likely to convert to cash in short term) = safe, trailers, etc | |||
** Liabilities = accounts payable (things that we are expecting to receive invoices for), wages payable (eg vacation accrued), adapted bike deposits (YCR2), bike rental deposits, deferred grant revenue ($ committed to specific things approved by grant), deferred casino revenue | |||
** Equity = retained earnings and current earnings (connection to Income Statement), total equity | |||
* Month To Date Income Statement | * Month To Date Income Statement | ||
** | ** Revenues and expenses for a period of time. | ||
**EBC revenues = memberships, donations, shop fees, part sales, bikes sales, rentals, course fees, mobile mechanic fees, casino revenue (spread out over 18 months from our lump sum from each casino), interest | |||
** EBC expenses = wages, EI, payroll services, benefits, board/staff development, rent, utilities, building repairs and maintenance, shop costs, amortization (trailers), instructor fees, volunteer honoraria, program materials, etc. | |||
** Bottom line of Income Statement connects to the Balance Sheet. Net profit or loss is on Income Statement will be Equity on Balance Sheet. | |||
** As board members, we review the Month To Date against the Budget that we created for the fiscal year (Sept 1 2015 to August 31, 2016). Should consider why and where there are variances in the actuals vs budget. | |||
** We should be looking at why and where we are under or over budget each month. How close are we to budget? If relatively close to budget, that is a pretty good thing. Next, look at absolute numbers. | |||
* Year To Date Income Statement | * Year To Date Income Statement | ||
** | ** | ||
* Discussion: | * Discussion: | ||
** | ** Geoff will make a motion in Jan about increase of 10 hr added for each Coordinator. | ||
** | ** Must update bank charges = $500 for professional fees | ||
** Derek: How do we generate a budget each year? Jon: In June-Aug, board and bookkeeper and ED look at previous year, current projects, changes to overhead costs such as rent/utilities/etc, inflation (wage costs), staff costs, etc. | |||
** Jon: deferred casino revenue does not balance with what we have in casino account… must ask Neil why there is a discrepancy. | |||
** Jon: each month on the financial reports, please review these type of details prior to the meetings and ask questions about discrepancies, ideas to apply more efficient use of resources | |||
* <span style="background: lime;">Action Items:</span> '''Anna''' add Geoff's motion to Jan agenda. '''Geoff''' update budget line item for prof fees. | |||
~ Dan departed 9:00pm ~ | |||
=== Budget Amendment re: contract staff start date (10 min) Anna === | === Budget Amendment re: contract staff start date (10 min) Anna === | ||
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* See [https://docs.google.com/spreadsheets/d/1dXEDcWDAGtb1tt3iaTUP0bW3d_Tv0cNy9ItoVl6oVhQ/edit#gid=2029837467 FY2016 Budget] | * See [https://docs.google.com/spreadsheets/d/1dXEDcWDAGtb1tt3iaTUP0bW3d_Tv0cNy9ItoVl6oVhQ/edit#gid=2029837467 FY2016 Budget] | ||
* Discussion: | * Discussion: | ||
** Chris suggests not changing the budget, but just shifting the dates from Feb 2016 to end of June 2016. | ** Chris suggests not changing the budget, but just shifting the dates from Feb 2016 to end of June 2016. Can apply for further funding in spring if deemed necessary. | ||
* <span style="background: lime;">Action Items:</span> '''Anna''' update budget doc. | |||
~ Karl returned 9:10pm ~ | |||
=== GST Tax Exemption (5 min) Jon === | === GST Tax Exemption (5 min) Jon === | ||
* Chris will apply for a GST number and contact the CRA for clarification on our GST status. | * Chris will apply for a GST number and contact the CRA for clarification on our GST status. | ||
~ Kathy departed 9:15pm ~ | |||
=== | === ABBCC report (1 min) Karl === | ||
* | * Alberta Bicycle Commuters Conference is tentatively scheduled for Sept 16-18 2016. Would be timed with the [http://www.pps.org/training/ Project For Public Spaces conference] in Vancouver Sept 12-15. | ||
* Last year, ABBCC budget was $11,000. Hoping to double for 2016. Would like to hire a Coordinator | |||
* Looking to apply for Jan 31 AB traffic safety grant. | |||
* | |||
~ Nathan departed 9:20pm ~ | |||
== <i>In Camera</i> Session (15 min)== | == <i>In Camera</i> Session (15 min)== | ||
* <span style="background: yellow;">Motion:</span> To go <i>[https://en.wikipedia.org/wiki/In_camera in camera]</i>. Moved by Anna, seconded by Geoff . ''' | * <span style="background: yellow;">Motion:</span> To go <i>[https://en.wikipedia.org/wiki/In_camera in camera]</i>. Moved by Anna, seconded by Geoff. '''Motion Carried.''' 6 for, 0 opposed. | ||
* Please list how long you believe your topic will take to discuss: | * Please list how long you believe your topic will take to discuss: | ||
** Geoff (10 min) | ** Geoff (10 min) | ||