Finance Committee Minutes

10 February 2003

 

Members Present:  Ephraim Miller, Roger Edwards, Sally Alworth, Kathleen Benz, Bruce Abrahamson

 

 

 

Minutes approved via email.

 

Finance Committee Goals for 2003

            Our 2002 Goals were reviewed and revised for 2003.  We discussed the need to limit goals that are tied to dates to those areas where we have control and/or the information we need in order to follow through..  Next we discussed long range planning and what purpose it might serve at KCC.

            We also discussed the need to recruit members on a regular basis so there is an ongoing transition plan.  We added as a goal for 2003 the need to recruit a new member from the Board to replace Roger who is coming off the Board.

Action:

Roger will give the Goals to Jeff Alworth, for the annual Board Retreat.

 

 

Financial Reports

            Balance Sheet and Income Statements for 2002 were reviewed, now that the 2002 books have been closed.  Some questions were raised, and Sally said she would look into the answers. 

Action:

Sally will check some details and run final reports including the Fund Balances.

 

 

Treasurer's Report

            We finally received the reconveyance document for Ser Cho Osel Ling, after some inquiries from Ephraim.

            We have submitted a credit applications, signed by the Treasurer, for a vendor for the Riparian Project.  Apparently at some point the application had been presented as if it were a contract, which is why the Treasurer had signed it.  It was agreed that it was not necessary for the Treasurer to sign credit applications to vendors.

 

 

Capital Campaign Update

            A piece of property for sale near KCC is being looked at.  This is only a very initial exploration.

            The CCLC is in the process of developing a communication plan.  They will be reducing their meetings with JS May to once a month.

 

 

Bookkeeper's Report

            All necessary end of year reports to government and insurance agencies have been filed.  Donation tax letters, fulfilling IRS requirements, have been sent to all donors.   As of this year, the process has been automated from the KCC books.

            CCLC books have been set up and are now functional.  Historical information is still being entered.

            The initial Draft Operating Budget was presented for review.

 

 

Members List

            Maintenance of the KCC Members List is critical to keep us in compliance with our bylaws.  As we have no membership coordinator or committee, the Finance Committee feels a responsibility  because of the fiscal and legal ramifications.

            It was decided to ask the Board and ED for approval, and for possible committee members, to form a disappearing task force to draft policies and procedures. so a membership list could be created and maintained in accordance with the KCC bylaws, and we could track and project revenue from dues.  We realize that not all members pay dues and will account for that in the policies and procedures.

Action:

Roger will make the request to the Board.

Kathleen will make the request to the ED, and will spearhead the committee.

 

 

Next Meetings:

Feb. 10 @ 6:30 pm

Mar 10 @ 6:30 pm

Apr 14 @ 6:30 pm

 

Submitted by

Kathleen Benz