Finance Meeting 2007.11.21

The 1st Finance Committee meeting has been tentatively scheduled for the 21st of November at 17:00 UTC (fixedtime), by phone and IRC (#osgeo) at the same time.

Communication will use the Conference Call facilities.

Agenda

 * Appoint meeting Chair and Secretary
 * Review Finance Committee list of responsibilities
 * Overview from Ken on setup of OSGeo accounts
 * Review OSGeo 2008 Budget and prepare for presentation to Board
 * Cost of Living Allowance (2.5%) increase for Exec. Director position
 * Review Budget and Contracting for FOSS4G 2008
 * Determine regular meeting time (Monthly - third Friday of the month? In future Quarterly?)

Minutes
These are the minutes of the 1st OSGeo Finance Committee Meeting.


 * Finance Committee members present: Dave, Paul, Jo, Tyler, Ken


 * Appoint meeting Chair and Secretary
 * Dave as chair, Tyler as secretary


 * Review Finance Committee list of responsibilities
 * Discussed the role of providing oversight, recommendations, helping filter/present items for the board


 * Overview from Ken on setup of OSGeo accounts
 * Describing the role of accounts for tracking purposes over time and how they tie into the budget
 * Ken will provide workflow/process document showing what/how tasks are completed, for review at next meeting
 * Committee serves as check/balance for ED on a quarterly basis
 * Discussed providing lower-level account access to other committee members, i.e. to bank statements. Next meeting to discuss how Tyler reports and how a copy of statements are provided


 * Review OSGeo 2008 Budget and prepare for presentation to Board
 * Tyler presented the details
 * Accounting - add summary of 2008 expected costs for Payroll support costs (i.e. PEO), add 2007 actuals
 * Promotion - Marketing is ready to spend some funds in advance from this category. Request Marketing committee to provide an estimated amount to be spent this year - then it will be removed from 2008 budget, so that it remains as a 2007 expense.
 * ED - Dave proposing cost of living allowance to increase ED salary by 2.5%, all were in favour, will take to the board.
 * ED office and travel have been adequate for past year, actual costs less than 2007 budget
 * Reviewed all items


 * Review Budget and Contracting for FOSS4G 2008
 * Paul describing Cape Town related issues. Conference venue costs ~2.5x of 2007 event and requires ~2x amount of sponsorship.
 * Will need to review budget and provide clear feedback with targets and results, i.e. without full sponsorships, how will budget have to change, by a certain date. Or potentially change entrance fees if required.
 * 2007 review of actual invoices shows underspent on several items. Profit will be closer to $60k-$75k (with GST rebate).
 * Question about how to keep the right reports for conference cost/revenue to be associated to OSGeo, i.e. for 501c3
 * Paul and Tyler to iron out contract with GISSA/PeopleSA


 * Reporting frequency and process - Ken/Tyler provide materials for discussion next meeting


 * Determine regular meeting time (Monthly - third Friday of the month? In future Quarterly?)
 * Dave proposing monthly meetings for next few months, then to quarterly
 * Aim for week before the board meeting
 * Next meeting planned for: Dec 21, 07 Finance_Meeting_2007.11.21