O&D Meeting 08/18/2024

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

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