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 2007.12.21
Category: Budget
Category: Finance