Difference between revisions of "O&D Meeting 08/18/2024"

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(Created page with "= Agenda = == Old Action Items == * Talk to Sean (and Raj) about "LG&E Bill Leveling" allowance process for budget. - Charles * Trifolds Jim & Adam. * Forward MemStim info...")
 
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== Treasurer Report ==
 
== Treasurer Report ==
−
 
+
*The month of July results were OK to slightly negative:
−
 
+
**July Revenue [$5,014.80] improved somewhat, recovering make-up missed payments from prior months.
 +
**July Expense [$5,154.78] includes the Bambu 3D-printer FAP expense at [$1,596.45].
 +
**July Net (Revenue minus Expense) was negative at (-$139.98).
 +
***However, excluding the Bambu FAP expense turns the July Net positive at [$1,456.45].
 +
*The Year-To-Date results are tight and somewhat unfavorable:
 +
**Actual YTD Revenue [$30,938.36] is below budget YTD revenue [$35,000].  We need to grow membership.
 +
**Actual YTD Expense [$28,822.45] (including the Bambu FAP) roughly equals the budget YTD Expense [$28,000]
 +
**Actual YTD Net (Revenue minus Expense) is somewhat positive at [$2,115.91] but below the target at [$7,000].
 +
*The take-away MESSAGE remains the same.  LVL1 still needs to urgently improve REVENUE by increasing MEMBERSHIP.
 +
*Other minor details worth mentioning include the following:"
 +
**The Tim VanSant Makership fund at [$1,668.80] is trending downward due to less donations and increased makership usage.
 +
**The Pizza Pot Luck fund is up YTD at [$322.97] due to generous donations by some.
 +
**The Vending fund is up YTD at [$429.69] due to steady use and discount-value soda purchases by Tiffany.   
 +
* Here is the link to the 5-page July Financial Summary Report [https://drive.google.com/file/d/1ykTSnI40JncoUUb4acp8IYgTAgN8x3IV/view?usp=sharing LVL1-FinancialSummary-202407.pdf]
 +
*Unfortunately, the effort to open the Live Oak Bank business savings account in order to earn interest on financial reserves is underway, but has been delayed due to this treasurer's other-life obligations during the month.  It will be accomplished during August.
 +
*Unfortunately, the effort to move this current spreadsheet accounting to QuickBooks Online Plus, also remains delayed due to this treasurer's other-life obligations during the month.  It remains a long-term goal.
 
== New Business ==
 
== New Business ==
  

Revision as of 11:40, 17 August 2024

Agenda

Old Action Items

  • Talk to Sean (and Raj) about "LG&E Bill Leveling" allowance process for budget. - Charles
  • Trifolds Jim & Adam.
  • Forward MemStim info to Danielle - Tif
  • Talk to MemStim - Danielle
  • Revision the Wavier Stuff - Raj
  • Get Lock-a-dock Lawyer Questions - Raj
  • Business Savings Account - Jim
  • Start a fap on the Air Compressor - Adam
  • Message Landlord about having a face to face conversation to go over issues that we have with the lease. - Kevin
  • Meet and update membership numbers in minutes - Danielle, Tiff, Jim.
  • Contact Paul about parts to fix the CR10 - Jim
  • Contact the "Contacting Members" Committee - Danielle
  • Set a date for a purge of the boneyard. - Kevin
  • Draft a letter to members about the dues increase/ brainstorm solutions. - Jim and Tiff.

Old Business

  • Lease
  • Soda Machine Stuff - Lock-a-doc
  • Lawyer Stuff / Wavier
  • Mural discussion - Adam
  • Promotional Materials - Adam
  • OOPS
  • Hand Rail - Pete
  • Faps - Bamboo and Sewing
  • Dues increase - Lay out a timeline

Membership Report

Treasurer Report

  • The month of July results were OK to slightly negative:
    • July Revenue [$5,014.80] improved somewhat, recovering make-up missed payments from prior months.
    • July Expense [$5,154.78] includes the Bambu 3D-printer FAP expense at [$1,596.45].
    • July Net (Revenue minus Expense) was negative at (-$139.98).
      • However, excluding the Bambu FAP expense turns the July Net positive at [$1,456.45].
  • The Year-To-Date results are tight and somewhat unfavorable:
    • Actual YTD Revenue [$30,938.36] is below budget YTD revenue [$35,000]. We need to grow membership.
    • Actual YTD Expense [$28,822.45] (including the Bambu FAP) roughly equals the budget YTD Expense [$28,000]
    • Actual YTD Net (Revenue minus Expense) is somewhat positive at [$2,115.91] but below the target at [$7,000].
  • The take-away MESSAGE remains the same. LVL1 still needs to urgently improve REVENUE by increasing MEMBERSHIP.
  • Other minor details worth mentioning include the following:"
    • The Tim VanSant Makership fund at [$1,668.80] is trending downward due to less donations and increased makership usage.
    • The Pizza Pot Luck fund is up YTD at [$322.97] due to generous donations by some.
    • The Vending fund is up YTD at [$429.69] due to steady use and discount-value soda purchases by Tiffany.
  • Here is the link to the 5-page July Financial Summary Report LVL1-FinancialSummary-202407.pdf
  • Unfortunately, the effort to open the Live Oak Bank business savings account in order to earn interest on financial reserves is underway, but has been delayed due to this treasurer's other-life obligations during the month. It will be accomplished during August.
  • Unfortunately, the effort to move this current spreadsheet accounting to QuickBooks Online Plus, also remains delayed due to this treasurer's other-life obligations during the month. It remains a long-term goal.

New Business

  • Faps - Air Compressor and Dumpster


Round Table

Action Items for Next Meeting

Minutes

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