Board Meeting Notes 2025-11-04

Board Meeting Minutes
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Meeting Start:

Attendance

• Board Members

• Other Members

Agenda

• Building purchase
  • Earnest money paid - was check cashed? (anyone with chase access)
    • Yes, $25k cashed 10/31
  • Check on status of buyer info (james/carl)
  • Do we have a closing plan? (james/carl)
  • Building insurance (nick)
    • A quote was provided - do we want to sign?
  • How much cash to be paid at closing? Do we have it? Vote to unlock contingency fund?
    • $250,000 down, minus $25,000 earnest money, plus $14,762 closing costs ~ $240k?
• Membership audit (nick, jennie, sky)
  • We need to do one. How do we do that?
• 2026 BoD Elections (nick)
• 2026 budget
  • We need a group to figure out where we stand for closing out 2025 (including remaining area budgets) and purchasing the building
  • We need to use that info to decide what's reasonable for 2026. 1-6 month budget instead of full year?
  • We need to send out budget sheets and potentially schedule meetings with area hosts soon

Minutes

Committee Reports

Reports from Committees

Financial Report

• Chase Checking:
• Chase Savings:
• PEX:
• PayPal:
• Building Fund: $225,000
• Contingency Fund: $40,000
  • note that the Building and Contingency funds are within the bank accounts, not separate from them
• Available for Votes:
  • note that as of 9/2/2025, this is calculated as (Checking + Savings) - (Building Fund + Contingency Fund)
  • note that due to the accelerated closing on the building 12/1, the board would not actually spend any money on votes right now

Membership Report

• Number of Members:
• Quorum:

Freshdesk

Login link: https://pumpingstationone.freshdesk.com