Minutes:27 SEP 2023 Financial Planning

Meeting begins: 2030

Meeting ends: 2200

Meeting attendees: Nate Y., Joe D., James K.

• Quickbooks progress:
  • Everything is going great so far. Reports are getting made more consistently.
  • Joe has developed a monthly report for Members' Meetings.
• Grants:
  • Creative Washtenaw grant submitted.
  • Let members know that we are looking to hire help to write grants. No responses yet.
  • Do we need to expand our search beyond our membership? Is it worth the effort/legally required?
  • Related: we should hire some kind of legal help, CPA and/or lawyer, to make sure we're doing things the correct way when paying people to help.
• Budget notes:
  • Move money to another bank/credit union? Interest rate is abysmal
    • James said he'd ask a financial advisor about it
  • Loans coming due in the next several months
    • James: we should pay this back slowly since we have a great rate
    • Can we move this money into another interest-bearing account? Presumably this can't be put into a vesting account due to the rules of the loan.
  • James: We need to look into moving our server infrastructure to AWS
    • James will look into getting us a non-profit account to start
    • Nate with work with James to move over services
  • James: Let's also pick over our other expenses to find ways to save (e.g. Nest).

• Action items:
  • Add donation button for 3d printer filament? - Nate will implement button/QR code (Venmo)
  • Future SEO/Adwords discussion: we need to have a person who is interested in doing Adwords campaign stuff. When we have that person on-board, we can go ahead and get our non-profit account re-enabled. James will reach out to some potentially-interested people.

• Separate/out of scope from this meeting, but good topics to discuss later:
  • Ideas on how to spend our $25k loan (ongoing)