14:04:09 <pronovic> #startmeeting
14:04:09 <pronovic> Hmm.  Is the bot connected?
14:05:13 <unknown_lamer> keverets runs it
14:05:51 <pronovic> Ok.  I don't think he's here?  Last time this happened, we went on anyway and did the minutes manually.  I guess we'll do the same thing now.
14:05:51 <pronovic> #topic attendance
14:06:06 <unknown_lamer> works for me
14:06:07 <pronovic> If you are an hcoop member and present please write "#info $hcoop_username"
14:06:13 <unknown_lamer> #info clinton
14:06:18 <pronovic> #info pronovic
14:06:25 <smichel17> #info smichel17
14:06:27 <bkhl> #info bkhl
14:06:54 <pronovic> ok.  thanks everyone for being here.
14:06:54 <pronovic> #topic agenda
14:06:54 <pronovic> The agenda can be found here: https://wiki.hcoop.net/IrcMeetings/20200808
14:06:54 <pronovic> #info https://wiki.hcoop.net/IrcMeetings/20200808
14:06:54 <pronovic> #topic Financial Update
14:06:54 <pronovic> The first item on the agenda is a quick financial update from Clinton.
14:07:38 <unknown_lamer> $4979.22 cash on hand, $3656.69 member balances, net $1322.53 + $190 pending transfer from paypal. $553.00/mo dues, one member definitely leaving this month.
14:07:43 <pronovic> thanks
14:07:43 <pronovic> any discussion on this?
14:07:53 <unknown_lamer> doing reasonably well
14:08:02 <pronovic> yes, looks pretty good
14:08:12 <unknown_lamer> expenses are up to date on https://wiki.hcoop.net/HcoopBudget
14:08:34 <layline> #info layline
14:08:59 <pronovic> any other comments/questions/concerns about the financial update?  otherwise I'll move onto the next item on the agenda.
14:14:08 <unknown_lamer> so we're still pulling in dues above expenses, I still need to go through and enter the last several years of bills (before 2018 when they were entered regularly again), but I finally got paypal to give me the csv and I have the monthly statements from wellsfargo so can actually get that done this quarter
14:14:08 <unknown_lamer> and that's it for me
14:14:17 <pronovic> great.
14:14:36 <layline> budget looks fineq
14:10:09 <pronovic> ok.  if there's nothing else, I'll move the next item
14:10:09 <pronovic> #topic Budget & Funds on Hand
14:10:09 <pronovic> The next item on the agenda is a discussion about budget and funds on hand.
14:10:09 <pronovic> Today, our goal is to formally approve a budget and an expenses policy.
14:10:09 <pronovic> The budget can be found here: https://wiki.hcoop.net/HcoopBudget
14:10:09 <pronovic> #info https://wiki.hcoop.net/HcoopBudget
14:10:09 <pronovic> The proposed expenses policy can be found here: https://wiki.hcoop.net/ExpensesPolicy
14:10:09 <pronovic> #info https://wiki.hcoop.net/ExpensesPolicy
14:10:09 <pronovic> We will also discuss the board's recommendation for a financial reserve policy.  Our intent is to approve this as a formal policy at the next quarterly board meeting, after the membership has had a chance to discuss it.  We want to give ample time for discussion,since this is the first time we've had projected savings at the end of a fiscal year.
14:10:09 <pronovic> The proposed financial reserve policy can be found here: https://wiki.hcoop.net/FinancialReservePolicy
14:10:09 <pronovic> #info https://wiki.hcoop.net/FinancialReservePolicy
14:10:09 <pronovic> Let's start with the budget.  Thank you to Clinton for updating this earlier in the week.  Any discussion on this?
14:11:24 <unknown lamer> since I wrote it, nothing from me. It's what we've approvated with board votes in the past and are operating under currently.
14:11:24 <unknown lamer> *approved
14:11:44 <pronovic> I have also reviewed it and I have no concerns.
14:11:52 <bkhl> Same here.
14:12:05 <layline> looks good
14:12:29 <pronovic> Can I get a formal motion from someone to approve it?
14:12:54 <unknown_lamer> Sure, I move to approve the budget for 2020 as written on https://wiki.hcoop.net/HcoopBudget
14:13:01 <pronovic> I second
14:13:01 <layline> second
14:13:17 <smichel17> How much of our dues come from members paying over the minimum?
14:14:04 <pronovic> I don't know for sure.  unknown_lamer?
14:14:10 <unknown_lamer> we have 12 pledges above the minimum, $144/mo in pledges
14:14:39 <pronovic> any other questions or discussions before we vote?
14:14:39 <pronovic> ok
14:14:39 <pronovic> #vote approve the budget for 2020 as written on https://wiki.hcoop.net/HcoopBudget
14:14:39 <pronovic> #info +1
14:15:09 <unknown_lamer> #info +1
14:15:14 <bkhl> #info +1
14:15:27 <layline> #info +1
14:15:33 <pronovic> ok, the resolution passes
14:15:33 <pronovic> next, let's discuss the expenses policy.  I wrote up the wiki article, based on our email discussion over the last few weeks.
14:15:33 <pronovic> it basically reflects current practice
14:15:33 <pronovic> any questions/concerns/comments about what I've written?
14:16:46 <unknown_lamer> I think it's fine as-is, just formally codified what we've been doing so far, without any onerous burdens
14:17:47 <pronovic> Yes, no onerous burdens.  Simple, and gives the treasurer some flexibility so we don't need a board meeting for every little decision.
14:17:47 <pronovic> If no one has any concerns, I'm looking for a motion to formally approve this policy
14:19:09 <unknown_lamer> I move to approve the expenses policy as a formal hcoop policy as written at https://wiki.hcoop.net/ExpensesPolicy
14:19:17 <bkhl> I second
14:19:27 <pronovic> #vote approve the expenses policy as a formal hcoop policy as written at https://wiki.hcoop.net/ExpensesPolicy
14:19:27 <pronovic> #info +1
14:19:38 <unknown_lamer> #info +1
14:19:40 <bkhl> #info +1
14:20:02 <layline> #info =1
14:20:02 <layline> #info +1
14:20:15 <pronovic> :)
14:20:15 <pronovic> The motion passes
14:20:28 <layline> (spoiled ballot)
14:20:40 <pronovic> I think the intent is clear?
14:20:56 <layline> #info +1
14:21:57 <pronovic> Ok, the next thing to discuss is the recommendation for a financial reserve policy.   here, we're not looking to formally approve a policy, just make a recommendation to the members
14:21:57 <pronovic> the wiki article linked to above is the result of an email discussion over the last few weeks.  I'm planning to send an announce email to publicize the budget, expense policy, and recommended financial reserve policy and ask members to join -discuss to discuss it.
14:22:57 <unknown_lamer> I think what we hashed out on the list works fine, actual wiki page should just be updated s/4500/4715/ since that's the actual budget
14:23:09 <pronovic> yes, that's fine - good correction
14:23:09 <pronovic> does anyone outside the board have any questions about the proposed reserve policy?
14:23:52 <unknown_lamer> and this seems like a good opportunity to notify people that list subscriptions work again, and a reason for people to join
14:24:08 <pronovic> agreed
14:24:26 <layline> what happens to the reseve should the coop disband?
14:24:39 <pronovic> I'd have to go back to the bylaws to be sure.
14:25:05 <unknown_lamer> per the terms of our incorporation, funds would be split between members in proportion to the amount of business done with the coop
14:25:14 <layline> That may be a good point to mention in the announcement to the members
14:25:21 <unknown_lamer> after paying all final bills and refunding dues balances
14:25:33 <pronovic> I'll add that to the wiki article.
14:25:51 <bkhl> "amount of business" would basically be the amount of dues you paid over the duration of the membership?
14:26:34 <layline> amount of business is paid dues * length_of_mebership ?
14:26:41 <unknown_lamer> I think so, take all current members, sum up all dues paid by them, issue payments in proportion to each individual contribution
14:26:53 <pronovic> ok
14:26:58 <unknown_lamer> not sure if we have to track down ex-members as well, it's all somewhere in he IRS guidelines
14:26:58 <unknown_lamer> the financial db has the info we need, if in a format that will need some manual work to determine everything were we to dissolve
14:28:05 <pronovic> any other discussion?
14:28:48 <unknown_lamer> that's it from me
14:29:05 <pronovic> I move that we recommend the financial reserve policy at https://wiki.hcoop.net/FinancialReservePolicy with a goal to formally approve it (with any necessary modifications) at the next quarterly meeting
14:29:24 <smichel17> The bylaws have, "Termination of membership for any reason shall not forfeit a member's established ownership rights and interests in the Corporation.", so I'd assume we would need to make at least a good faith effort to track down old members
14:29:35 <layline> I 2nd
14:29:44 <pronovic> thanks smichel17
14:29:44 <pronovic> #vote recommend the financial reserve policy at https://wiki.hcoop.net/FinancialReservePolicy with a goal to formally approve it (with any necessary modifications) at the next quarterly meeting
14:29:44 <pronovic> #info +1
14:30:09 <bkhl> #info +1
14:30:14 <unknown_lamer> #info +1
14:30:14 <unknown_lamer> smichel17: indeed, one of the many reasons I don't want the coop to dissolve
14:30:30 <layline> #info +1
14:30:41 <pronovic> ok, the motion passes
14:30:41 <unknown_lamer> I mean we can sum up who paid what over time but finding everyone...
14:30:52 <pronovic> yeah, I agree - that will be a real pain
14:31:03 <bkhl> We better keep it going then.
14:31:03 <unknown_lamer> hcoop will just have to never die instead :)
14:31:27 <smichel17> Would be nicer if there were a statute of limitations on that instead. Eg, once you're not a member for a decade, you forfeit any ownership rights/interests.
14:31:43 <unknown_lamer> not sure, it's bound to IRS regs
14:31:49 <layline> Dispersing the funds will be a bit of work as well.
14:32:03 <smichel17> (And maybe there is in 501c regs, I'm not that familiar with them)
14:32:11 <unknown_lamer> I skimmed through all of those again to make sure our surplus policy aligned with our legal obligiations for use of savings (what we call "profits" since we're not-for-profit)
14:32:11 <unknown_lamer> but can't recall specifically
14:32:51 <pronovic> the good news is, there is a standard, we just need to find the right documentation and understand it
14:32:51 <pronovic> if it becomes necessary
14:33:10 <unknown_lamer> yeah, and ideally we won't run out of money and have to deal with it either
14:33:10 <unknown_lamer> we have the records needed, I imagine we'd have to set up some trust for X years in case members we couldn't find appeared, etc.
14:33:43 <pronovic> yeah
14:33:45 <layline> Follow th NRA case... I seem to recall the 501c's assets are to be dispersed to another non-profit opperating in same charitable  space.
14:34:03 <bkhl> Maybe will be better to keep it running until the money is spent? :-)
14:34:13 <unknown_lamer> basically heh
14:34:13 <unknown_lamer> one of the reasons we ditched physical hardware, no assets really to divide
14:34:27 <layline> Yeh, run it till the tank is empty
14:34:46 <smichel17> d
14:34:50 <pronovic> that would simplify things...
14:34:50 <pronovic> any other discussion on this topic?   otherwise we can move onto see if there is any other business.
14:34:50 <pronovic> #topic other business
14:34:50 <pronovic> anyone in attendance is welcome to raise a topic for discussion
14:36:03 <layline> Is there a path through the member portal to these new budget and reserve pages?
14:36:13 <unknown_lamer> just the wiki
14:36:46 <pronovic> right.  there's one page in the wiki that contains links to all of the approved and proposed policies
14:37:53 <pronovic> is there any other business to discuss?  if not, I will end the meeting
14:39:02 <pronovic> ok, thank you everyone for attending - and for the really productive email discussion over the last few weeks
14:39:02 <pronovic> #endmeeting