Minutes:08 JAN 2023 Financial Planning: Difference between revisions
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(Created page with "Meeting begins: Meeting ends: Meeting attendees: Nate Y., Joe D., James K. * Quickbooks progress * Budget updates * Loan updates/issues/concerns? * Other Budget notes: ** After 6 months, we are looking good in terms of projected costs ** We see a need to add an item for outreach/events at $150/quarter (e.g. Art Fair, Tech Trek fees), bringing the total budget to $450/quarter. * Action items: ** Membership rates/requirements - James (DONE) ** Quickbook training s...") |
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Meeting begins: | Meeting begins: 1907 | ||
Meeting ends: | Meeting ends: | ||
Meeting attendees: Nate Y., Joe D., James K. | Meeting attendees: Nate Y., Joe D., James K. | ||
* Quickbooks progress | * Quickbooks progress | ||
** Financial items were imported with differing start dates, making it hard to get true year's worth of data. | |||
** Existing data there is of limited value because of the above -- would be easier to start fresh for 1/1/2023 instead of trying to fix things all the way back to August. | |||
** Freshbooks data is still good, will use that for the 2022 financial report. | |||
** Some difficulties could arise from the wide range of Quickbooks categories for transactions, and based on the person who decides which one to use. A pared-down list of categories should be created to avoid issues with Quickbooks. | |||
* Budget updates | * Budget updates | ||
* Loan updates/issues/concerns? | * Loan updates/issues/concerns? | ||
* Donations tracking/distinguishing from cash class fees | |||
** Anytime money is taken from the donation box/jar for deposit, make sure to let #Finances know about how much is for what thing. | |||
* Other Budget notes: | * Other Budget notes: | ||
| Line 16: | Line 22: | ||
* Action items: | * Action items: | ||
** Get smaller envelopes for cash donations/class fees - Nate | |||
** Make it easier to pay for things! E.g. put links to laser time/3d printer filament payment on the machines. | |||
** Payment categories on Paypal -- come up with list of Paypal buttons/links for each type of thing people tend to pay for. | |||
** Go over previous years of finances to come up with the pared-down Quickbooks categories. | |||
** Membership rates/requirements - James (DONE) | ** Membership rates/requirements - James (DONE) | ||
** Quickbook training session - Robin/Joe | ** Quickbook training session - Robin/Joe | ||
| Line 22: | Line 32: | ||
* Separate/out of scope from this meeting, but good topics to discuss later: | * Separate/out of scope from this meeting, but good topics to discuss later: | ||
** Ideas on how to spend our $25k loan | ** Ideas on how to spend our $25k loan | ||
Revision as of 20:36, 8 January 2023
Meeting begins: 1907
Meeting ends:
Meeting attendees: Nate Y., Joe D., James K.
- Quickbooks progress
- Financial items were imported with differing start dates, making it hard to get true year's worth of data.
- Existing data there is of limited value because of the above -- would be easier to start fresh for 1/1/2023 instead of trying to fix things all the way back to August.
- Freshbooks data is still good, will use that for the 2022 financial report.
- Some difficulties could arise from the wide range of Quickbooks categories for transactions, and based on the person who decides which one to use. A pared-down list of categories should be created to avoid issues with Quickbooks.
- Budget updates
- Loan updates/issues/concerns?
- Donations tracking/distinguishing from cash class fees
- Anytime money is taken from the donation box/jar for deposit, make sure to let #Finances know about how much is for what thing.
- Other Budget notes:
- After 6 months, we are looking good in terms of projected costs
- We see a need to add an item for outreach/events at $150/quarter (e.g. Art Fair, Tech Trek fees), bringing the total budget to $450/quarter.
- Action items:
- Get smaller envelopes for cash donations/class fees - Nate
- Make it easier to pay for things! E.g. put links to laser time/3d printer filament payment on the machines.
- Payment categories on Paypal -- come up with list of Paypal buttons/links for each type of thing people tend to pay for.
- Go over previous years of finances to come up with the pared-down Quickbooks categories.
- Membership rates/requirements - James (DONE)
- Quickbook training session - Robin/Joe
- Update rent auto-payments - Nate (DONE)
- Add a new budget bucket: $150/quarter for outreach-related stuff
- Separate/out of scope from this meeting, but good topics to discuss later:
- Ideas on how to spend our $25k loan