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Finance Committee Meeting Minutes
18 October 2020 @ 1500-1540 (zoom meeting)
Submitted by Jennie Werner, Treasurer, CALMOAA
– Jennie Werner (CALMOAA Treasurer) – Meeting Host
– Dave Yorck (CALMOAA 4th VP Membership)
– Neal Schneider (CALMOAA AVP, Area 4)
– Gunnar Schalin (Miramar Chapter Treasurer)
Unsuccessful attempts to join on zoom:
- Fred Green
- Patty Wernet
- Gil Borgardt
- Mike O’Hara
- Meeting was called to order at 1505.
- The FY2020 Budget and FY2020 Actuals (thru 30 Sep 2020) were shown on the screen (see attachment 2). Treasurer’s meeting comments:
- The FY2020 budget was created prior to the COVID-19 pandemic and assumed that we would be hosting our annual meeting in person, rather than on zoom.
- We therefore didn’t have either the expenses or income related to an in-person annual meeting.
- It was noted that our miscellaneous admin costs were very high due to a lot of printing (with printer ink purchases), purchase of envelopes, and a lot of USPS costs for sending these documents; we will make a concerted effort to use email (including scanning documents or sending them as attachments in future years).
- This FY2020 info had been sent out prior to the meeting so there wasn’t much need for discussion.
- We discussed the FY2021 budget in much more depth. The Treasurer wanted to get input from participants on many of the line items. Items of discussion follow:
- Projected FY2020 Income
- CALMOAA Chapter Dues – with input from our CALMOAA 4th VP of Membership, we decided to project dues with only a small increase due to pandemic-related lack of chapter growth; we adjusted FY2021 dues projection from $5k up to $5,200.
- Council Annual Meeting Support & Fees – we did not have an attendee from the annual meeting planning committee, but I spoke with Patty Wernet, chair of that committee afterward, and we both agreed that I would chat with our 1st VP Fred Green to get a feel for next year’s plans before we come up with a figure for Annual meeting income & expenses.
- Coin sales were discussed. Coins were just purchased and we decided to budget for sales of 300 in FY2021—price needs to be determined before we can confirm a figure for the budget. Treasurer will follow up with CALMOAA leadership.
- All other income line items were determined to be fine as proposed in attachment 2.
- Projected FY2020 Expenses
- Annual Meeting expenses – see above income discussion regarding annual meeting
- Coins – we decided to budget for the purchase of 300 additional coins, but it was agreed that CALMOAA will only buy more coins if current coins sell.
- Miscellaneous expenses – these are mostly admin related and as discussed during the FY2020 budget review, it was agreed that we can greatly reduce our expenses for this line item by using email whenever possible, which will reduce printing and postal costs. It was suggested I chat with Fred Green, 1st VP and tech guru extraordinaire, to help project a realistic figure for FY2021.
- All other expense line items were determined to be fine as proposed in attachment 2.
- Other comments suggestions made during our meeting:
- Neal S. mentioned that when he was on the Florida Council, they got sponsors in their monthly newsletter with lots of advertising income; we don’t have a monthly newsletter as a council but that could be a possibility if we had someone willing to take that on
- Chapter websites can also get advertising income
- Projected FY2020 Income
Meeting adjourned at 1540. I very much appreciate those who attended (or tried to attend!) on zoom on a Sunday afternoon. We accomplished a lot and I hope everyone feels like we are moving forward together to keep CALMOAA operating in a productive direction.
- CALMOAA Finance Committee Agenda, 18 Oct 2020
- CALMOAA FY2021 Proposed Budget (with FY2020 Budget and Actuals through 30 Sep 2020)
Finance Committee Meeting Agenda
18 October 2020 @ 1500
This meeting will be recorded for reference
- Overview of FY2020
- FY2020 Budget
- FY2020 Actuals to date
- Open for questions/discussion
- Discussion of goals for FY2021
- FY2021 budget DRAFT presented for discussion
- Open for discussion and recommendations
- Tax Compliance Discussion