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 marginally 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] continues to trend below budget YTD revenue [$35,000].
  • 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
• The task has started to open the Live Oak Bank business savings account in order to earn interest on financial reserves. However, it is not yet accomplished due to this treasurer's other-life obligations during the month. It will be accomplished during August.
• Similarly, the larger effort to move this current spreadsheet accounting to QuickBooks Online Plus, is also delayed but remains a long-term goal.

New Business

• Faps - Air Compressor and Dumpster