Finance Work Group Meeting Minutes 11/6/2011

Agenda; receipts, donation jar, 501c3, bank account, EIN, protocol on handling cash donations, food, warehouse

 

Discussion Topics

1. Receipts to be kept in ledger (red notebook).

2. Donation jar is now the toolbox to be kept on food table. We need to find a way to secure it to the table.

3. 501c3 discussion tabled until we have a speaker come out for q&a.

4. Bank account still not decided on. This is due to a lack of legal name for organization and lack of confidence for one person to put name on account.

5. EIN- also requires one person to take responsibility for EIN number.

6. Do we need a budget for food? We do need a report back from the Food Work Group so we can get an inventory and see what items might be lacking through donations.

7. Same thing goes with Warehouse. What items are needed? Inventory needed. What donations are coming in? Are we lacking essential items?

8. Political Action Work Group is in need of phone to conduct Occupy business. Several work groups are in need of phones. Artem will check into phone plans that might work for all groups in need.

9. We need to talk to legal over the issues of 501c3, EIN, and DBA.

 

 

Proposals Passed

 

1. Any financial transaction must first go through the General Assembly, after checking first with Warehouse to see if items are already available. The one exception is money given to buy ice for the kitchen.

2. The donation jar is to be emptied and counted daily, then put into the petty cash box.

3. Petty cash is to be refurbished daily so that there is always $100 present for emergency need, to be given only after approval through the GA.

4. What is left over, after the petty cash box is refurbished to $100, will then go into the savings box.

5. Savings box is to be stored at (intentionally leaving out name for security reasons. If you feel the need to know, ask finance.)’s house (easily accessible on short notice, but not kept in the park so as not to loose it to theft), with the keys staying on sight at all times. (as discussed in previous meeting)

6.  The extra funds (after refurbishing petty cash) are then moved into savings box on the agreed upon day. (Also intentionally omitted for security reasons. Feel free to ask.)

 

Next meeting scheduled for 11/9/2011

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