Minutes:27 MAR 2024 Financial Planning

Meeting begins: 2025

Meeting ends: 2133

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

• Quickbooks progress:
  • Documentation is done!
• Grants:
  • Creative Washtenaw grant acquired.
    • Submitting this for early April - Nate Y.
    • Joe has come up with contract language for hiring staff for events:
      • https://docs.google.com/document/d/18OA91EMdhu8z5frRAwJk1RwMnnC5IJ2g/edit
      • https://docs.google.com/document/d/12WWSuxVPOOQF1H6NOyih1R9Nb4TA5SNt/edit
  • Let members know that we are looking to hire help to write grants. Sarah will work on Sustaining A2 together after being pinged by Nate. She will update at Members meetings and one time in between. - In progress!
  • The search for other grants continues. Nate is keeping his ear to the ground
    • James has info on grants.
      • Ann Arbor Area Community Foundation
        • Grant programs open - James A. and Faith Knight Foundation: https://www.aaacf.org/news/james-a-and-faith-knight-foundation, https://www.knightfoundationmi.org/funding-priorities/ - closes September 30th, possibly when money runs out
• Budget notes:
  • Move money to another bank/credit union? Interest rate is abysmal
    • someone needs to compare rates and find options. Shop it around at members meeting. Credit union is recommended
    • Call our bank to see what our interest rate really is at the moment... Seems incredibly low. - Joe D.
  • Loans coming due in the next several months - before April. make payment decision after strategic planning
    • No change in plans -- Nate will set up payments for April
  • Digital ocean Money - what should we do with it. Discuss at members meeting
    • James suggests running a TOR relay (not an exit node) -- low overhead, good value for otherwise unspent funds.
  • Joe made a budget request form: https://docs.google.com/forms/d/13_av4mDWc590PjGS8JxCuopYcyovFyUquPuVtKKFG4c/edit
    • Good to have a more formal process in place, to manage expectation
    • We can review these items at the Members' Meeting following the request, where they can be voted on
    • The wish list covers similar ground, but should be clearly listed primarily a way to get items donated from an external source, not purchased by AHA
    • We can clarify the process in the Wiki article: Wish List - Nate will add to the room description in #Operations

• Action items:
  • Future SEO/Adwords discussion: defer until after strategic planning - strategic planning still needs to be planned!
• Finances Channel needs to have non-relevant people removed/ dedicated board channel needs to be spun up
  • Ideas:
    • Spin up a new Finances Committee channel that is public, invite folks who attend this meeting
    • Rename the private Finances channel to Financial Records, have only folks who are directly involved in finances in there