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)