Board Meeting Notes 2025-08-05: Difference between revisions

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 === Financial Report ===
-* '''Chase Checking:'''
+* '''Chase Checking:''' 124,737.65
-* '''Chase Savings:'''
+* '''Chase Savings:''' 100,012.59
-* '''PEX:'''
+* '''PEX:''' 25,581.84
-* '''PayPal:'''
+* '''PayPal:''' 6,178.06
-* '''Building Fund'''
+* '''Building Fund''' 180,000
-* '''Contingency Fund'''
+* '''Contingency Fund''' 40,000
 **''note that the Building and Contingency funds are within the bank accounts, not separate from them''
+* '''Available for votes''' 36,510.14
 === Membership Report ===
-* '''Number of Members:'''
+* '''Number of Members:''' 696
-* '''Quorum:'''
+* '''Quorum:''' 70
 === Review the PayPal and banking transactions ===
@@ Line 61: / Line 62: @@
 === New Business ===
+*Lydia wants a new volunteer authorizer - board votes yes
+*Loaned tool agreement
+**The current agreement gives PS1 almost unlimited liability
+**James is going to ask the lawyers to write a better agreement
+**Books wants us to sign the existing agreement now for the plastic shredder
+**No one calls a vote to do that, so we do not vote on that
+**Nick motions to move on after a bunch of useless talking in circles
+*Wingate and James want to check the cameras to see what the cleaning lady does
+**We talk in circles a bunch more. Books and Ron have actually seen/spoken to her.
+*ID Checks
+**David Perkins wants clarity on why we do them and how we can make them less invasive
+**We talk in circles some more with a bunch of tangents
+**Lindsay will draft a wiki page documenting the ID check process, then James and Nick will help finalize it.
+**No real changes to the process are proposed, just clarification of existing policies.
+*Building Purchase - closing moved up to 12/1/25 from May '26
+**Tony is apparently fine, but other family members are bickering (per james)
+**The question today is, can we afford to close with a $250k down payment on 12/1/25?
+***Wingate presents some numbers.
+****He projects that we will have $336k on 12/1/25 cash on hand.
+****We may or may not have a $100k LOC available through Chase. James will call Chase tomorrow to confirm.
+****We should probably ask volunteers to not spend too much cash
+***Insurance is an issue. James, Nick, and Jennie will meet on it later.
+***Lawyer had originally said 60 days after contract, James talked to lawyer and now it is 12/1 - it's unclear what is happening on the seller side.
+***Uwe wants to confirm that we will be released from the lease and get our security deposit back on the new closing date
+***The board proceeds to talk in circles some more with a bunch of hypotheticals
+***There is general consensus that if we confirm the existence of the $100k LOC, we are comfortable voting to close with current terms on 12/1/25.
 === Old Business ===
 == Votes ==
+*BoD grants WILD status to John Kennedy as an authorizer for Arts
+**Vote passes
+*BoD votes to check the cameras to see what the cleaning process is
+**Vote passes
 [[Category:Board_Meetings]]
 [[Category:2025 Board Meetings]]