Minutes for Finance Meeting - 12 Jun 2023
OIAA FINANCE COMMITTEE
Open with the Serenity Prayer, Meeting called to order at 6 pm, EDT.
List of Those in Attendance – Jennifer B, Susan R, Mark M, Jeff B, David L, Barry M, Gwen M, and Amelia L.
Approval of Agenda, no additions.
Approval of Prior Month’s Minutes – Gwen motioned to accept the minutes; Susan seconded.
Review of Financial Reports
- Budget Variance – See attached. Of note are the translation costs. They are a bit up this time because of the town hall that was not budgeted. The only translation costs that were budgeted were for the 2023 assemblies, nothing for forums or other events. Thus, the board and the committees need to propose to the assembly in September all budget change needs for 2023. Now, the board can only approve Budget requests up to $500.
- Balance Sheet – See attached. OIAA has assets of a little over $89,000. Group agreed that the report format is much cleaner and comprehensible.
- Contributions – See attached. Contributions of $9,800 are our highest month. We need to continue to identify groups connected to the individuals, finding ways to link the individual or the Treasurer to a particular group.
Review of Finance Charter – See current draft attached. Members reviewed the charter and made many suggestions. It was agreed that Jennifer would place the content of the document in the Charter template, and we will review it again in July.
Closed 5:35 pm EDT with the Responsibility Statement