Minutes for the regular National Finance Committee meeting November 4, 2015.

Meeting convened at 9:28 PM (ET) a quorum being present, the Chair and
Secretary being present.
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Attending: Adriana Casenave, Bill Crosier, Brian Edwards-Tiekert (Chair), R.
Paul Martin (Secretary), Tony Norman, Michael Novick, Cerene Roberts, Barbara
Whipperman.
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Agenda:

Call to Order (5 minutes)

Agenda Approval (5 minutes)

Minutes Approval (5 minutes - if available)
Minutes of September 22, 2015
Minutes of September 29, 2015
Minutes of October 13, 2015
Minutes of October 19, 2015
Minutes of October 27, 2015

Budget Review and Approval
PACIFICA NATIONAL OFFICE Budget Second Review (15 minutes)
WBAI Budget - third review (15 minutes)
KPFT Budget - third review (15 minutes)

Check-in re: Fall Fund Drive Results (5 minutes)

Cash Flow / Liquidity (5 minutes)

Scheduling of upcoming meetings (5 minutes)

Adjourn 10:30 PM (ET)
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Motion: (Barbara Whipperman) "To approve the agenda." (Passed without
objection)

Minutes Approval 9:30 PM (ET)

Motion: "To approve the minutes of the September 22, 2015 meeting." (Passed
without objection)

Budget Review and Approval 9:31 PM (ET)

PNO Budget Second Review 9:31 PM (ET)
The committee discussed the Pacifica National Office draft FY16 budget
proposal. The budget proposal includes a legal expense of $336,100 and a
capital expense of $50,000 for a software upgrade, which results in a cash
surplus of about $83,000 by the end of FY16. It was noted that this budget has
WBAI as contributing about $202,000 in Central Services payments which makes
for a serious possibility of a deficit. There is the possibility that the
National Office may need to make about $14,000 in pension plan payments, and
that is not in the current budget proposal. The payments to FSRN in this budget
are for past due debts.

Motion: (Brian Edwards-Tiekert) "The NFC recommends approval of the Pacifica
National Office FY16 budget with the following provisos:

1. The National Office shall adjust its budget's cash flow to show the payment
of past-due pension contributions to current and former National Office
employees.

2. The Pacifica National Office shall prepare a contingency plan for the event
of stations not paying Central Services per their budgets." (Passed without
objection)

The committee discussed the motion.

WBAI Budget 9:48 PM (ET)

The committee discussed the WBAI draft FY16 budget proposal. The latest version
of the draft budget from the WBAI General Manager shows an increase in revenues
of about $132,000 and an increase in operating expenses of about $100,000 and
results in a cash deficit of about $326,000, but this is with the budget
accruing the full amount for the tower rent. The WBAI General Manager has
invited the local Finance Committee to balance the budget, if it could. It was
noted that if negotiations go well with the Empire State Building (ESB) the
station's finances could be much better. Without the accrued ESB rent the FY16
budget might be able to break even. There was a short discussion regarding the
progress of the ESB negotiations. There will be a WBAI local Finance Committee
meeting tomorrow night.

Motion: (Adriana Casenave) "To extend the time for this item by 10 minutes."
(Passed without objection) 10:11 PM (ET)

Motion: (Brian Edwards-Tiekert) "The National Finance Committee notifies the
Pacifica National Board that WBAI is unable to generate a realistic budget that
does not show a large deficit."

The committee discussed the motion.

Amendment: (Brian Edwards-Tiekert) "To substitute "has been unable' for 'is
unable'" (Passed without objection)

The committee discussed the amendment.

Motionas amended: "The National Finance Committee notifies the Pacifica
National Board that WBAI has been unable to generate a realistic budget that
does not show a large deficit." (Tabled)

Motion: (Barbara Whipperman) "To extend the time for this item by 15 minutes."
(Passed without objection) 10:30 PM (ET)

The committee continued to discuss the motion.

Motion: (R. Paul Martin) "To table the motion" (Passed without objection)

The Chair announced that the time for this meeting was over, there was no
motion to extend the time for the meeting.

The Chair noted that he would be unable to attend the November 10, meeting. The
Secretary reminded the committee that he would be unable to join the meeting
until after 10:00 PM (ET).

Motion: (Adriana Casenave) "To cancel the November 10, 2015, meeting."

The committee discussed the motion.

Amendment: (R. Paul Martin) "To add, 'and meet on November 18, 2015.'" (Passed
without objection)

Motion as amended: "To cancel the November 10, 2015, meeting, and meet on
November 18, 2015." (Passed without objection as amended)

Adjourned 10:51 PM (ET)

Submitted by R. Paul Martin, Secretary.