Finance Committee Minutes
11 August 2003
Members Present: Ephraim Miller, Sally Alworth, Kathleen Benz, Bruce Abrahamson, Steve Parker
Financial Reports/Bookkeeper's Report
Reports for July were reviewed and approved. "Capital Cash Position" report has been added to aid the CCLC in their financial decisionmaking.
Monthly $3000 wires from Bokar Monastery money market account to Bokar Monastery were not included in the original Annual Operating Budget, so the figures are skewed. It was agreed that the Annual Budget should be adjusted to reflect actuals for the related income and expense accounts, beginning in July.
The new Donation Envelope has been printed and is now in use.
Special Fundraising Campaign Guidelines
After some discussion, it was agreed that we needed two documents, one for Special Campaigns Guidelines, and a more comprehensive Policy for Capital Campaign Donations. The policy document needs some more thought. The more limited document will be revised as soon as possible so it can be used for our current special campaigns.
Annual Budget 2004
Sally has requested information from the Program Council about all planned retreats, events, and program-related expenses. She should have that information by the end of August.
Annual Campaign
Roger has agreed to ask the Development Committee to consider how their work might intersect with an Annual Campaign. He will then bring the discussion back to the Finance Committee.
Goldendale Retreat Pricing
Sally will email the FC with historical information and her recommendations for future pricing.
Proposed Loan from Sangha Member
Deferred to September's meeting.
Treasurer's Report
The Riparian Project reimbursement documents have been revised, signed and submitted.
Signature papers for all bank and brokerage accounts have been completed and submitted to the banks. The new signers on all accounts are: Ephraim Miller, Julia King Tamang, Roger Edwards, and Kathleen Benz. In addition, Bill Spangle is a signer on the Task Force account
Arrangements have been made for automatic transfers of $3000/mo from the Bokar Monastery account to KCC's general fund account at Piper Jaffray. The arrangement is for one year, and will reimburse KCC's general fund for the monthly wires which have been requested by Bokar Monastery.
ACTION ITEMS:
Roger : begin discussion of Annual Campaign with the Development Committee
Sally: email Goldendale retreat info & recommendations to FC
circulate new Capital Cash Position report to CCLC for feedback
follow up with Program Council for 2004 Budget info
Ephraim: email Mary Guenther about new signers on bank accounts
Kathleen: revise Special Campaign Guidelines and email to FC
Items for future discussion
1. Registered Agent for Oregon Corporation Division
2. Volunteer Labor Donation
3. Registration as a non-profit in state of Washington
Next Meetings:
Sept 15 @ 6:30pm
Oct date TBD
Submitted by
Kathleen Benz