board minutes 11 2024

Board Meeting Minutes Summary: November 2024

External Engagement and Events

• Fin Con: The board decided not to run a room at Fin Con, deeming it “too much.” This decision was influenced by the poor quality of the room provided in the previous year. The overall sentiment is that multi-day conventions are “dying a very slow death.”

• System Familiarity: A need was expressed for the rest of the board to become more familiar with the back-end systems used for signing up members. Scheduling a separate time for this is preferred, as there isn't enough time during combined meetings.

Leadership and Roles

• New Officers/Area Hosts: The agenda included discussions about the need for new officers and a new area host.

Financial Overview (August, September, October)

• August:

  • Revenue: ~$4,600 (specifically, $4,600 in change, almost $4,700).

  • Expenses: ~$3,400 (specifically, $3,400 in change).

  • Net Increase: ~$1,200.

• September:

  • Revenue: ~$7,000 (specifically, $7,003).

  • Expenses: ~$3,500 (specifically, $3,500 in change).

  • Net Increase: ~$3,500.

• October:

  • Revenue: ~$5,500.

  • Expenses: ~$3,900.

  • Net Increase: ~$1,500.

• Overall Financial Health: The organization has managed to be net cash profitable without a formal budget, indicating growth and an increase in the “nest egg” to achieve a safer financial position.

• CTO Budget Item: The CTO presented a budget item for a new internet connection at $72.95 per month, which falls within an acceptable financial boundary for this type of expenditure.