Minutes for the regular National Finance Committee meeting November 18, 2015.
Meeting convened at 8:36 PM (ET) a quorum being present, the Chair and
Secretary being present.
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Attending: Lydia Brazon, Adriana Casenave, Bill Crosier, Brian Edwards-Tiekert
(Chair), R. Paul Martin (Secretary), Tony Norman, Cerene Roberts, Nancy Sorden,
Barbara Whipperman, also attending was WBAI General Manager Berthold Reimers.
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Agenda:
Call to Order (5 minutes)
Agenda Approval (5 minutes)
Minutes Approval (5 minutes)
Minutes of September 29, 2015
Minutes of October 13, 2015
Minutes of October 19, 2015
Minutes of October 27, 2015
Minutes of November 3, 2015
Budget Review and Approval
KPFT Budget - third review (15 minutes)
WBAI Budget - fourth review (30 minutes)
Cash Flow / Liquidity (5 minutes)
Audit Progress (5 minutes)
Scheduling of upcoming meetings (5 minutes)
What happens when we can't get realistic budgets for a unit? (15 minutes)
Adjourn 10:20 PM (ET)
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Motion: (Adriana Casenave) "To approve the agenda." (Passed without objection
as amended)
Amendment: (R. Paul Martin) "To swap the order of items 4a WBAI Budget - fourth
review and 4b KPFT Budget - third review." (Passed without objection)
Minutes Approval 8:39 PM (ET)
Motion: (Adriana Casenave) "To approve the minutes of the September 29, 2015
meeting." (Passed without objection)
Budget Review and Approval 8:40 PM (ET)
KPFT Budget - third review 8:40 PM (ET)
The committee discussed the KPFT draft FY16 budget proposal. It was noted that
the FY15 fulfillment rate is higher than what's in the budget spreadsheet. KPFT
is looking to hold a large Spring Music Festival off-air fund raiser next year
that will help to raise revenue and it will have low expenses. They are playing
the car donation carts more.
Motion: (Brian Edwards-Tiekert) "The National Finance Committee Recommends
approval of the KPFT budget, with the following proviso:
That KPFT, prior to submitting this budget for final PNB approval, adjust its
budget to accommodate cash payments totaling $13,694.16 to catch up on past-due
pension obligations."
The committee discussed the motion.
Amendment: (Adriana Casenave) "To add, '$1,500 per month catch-up payments for
the inter-company payables that KPFT owes.' and, '$10,000 per year reduction in
salaries under "tbd."'."
The committee discussed the amendment.
Motion: (Brian Edwards-Tiekert) "To divide." (passed automatically)
Point of Order: (R. Paul Martin) Call for the orders of the day. 9:17 PM (ET)
Amendment: "To add, '$1,500 per month catch-up payments for the inter-company
payables that KPFT owes.'" (Passed 4 for, 2 against, 2 abstentions)
Amendment: "To add, '$10,000 per year reduction in salaries under "tbd."'."
(Fails 2 for, 4 against, 2 abstentions)
Motion as amended: "The National Finance Committee Recommends approval of the
KPFT budget, with the following proviso:
That KPFT, prior to submitting this budget for final PNB approval, adjust its
budget to accommodate cash payments totaling $13,694.16 to catch up on past-due
pension obligations. And add $1,500 per month catch-up payments for inter-
company payables that KPFT owes." (Passed without objection)
WBAI Budget - fourth review 9:23 PM (ET)
The WBAI General Manager joined the call. The committee discussed the WBAI
draft FY16 budget proposal. The WBAI General Manager said that WBAI has been
paying the Empire State Building (ESB) $12,000 per month for 15 months now and
the General Manager has told them that's what we're paying them because there
is no other way. He said that the numbers in the draft budget were based on
actuals, but this past year was not good. The General Manager said that there
will be actual outstanding payables and this will be a budget with a negative
bottom line.
The interim Executive Director asked that the NFC hold an executive session
meting.
Motion: (Adriana Casenave) "To postpone all discussion of WBAI's FY16 budget
till after the PNB discusses this issue in executive session." (Fails 3 for, 6
against)
Motion: (Brian Edwards-Tiekert) "That the NFC hold a 45 minute executive
session to start the November 24, 2015, meeting."
The committee discussed the motion.
Amendment: (Bill Crosier) "To make executive session 20 minutes." (passed 6
for, 2 against, 1 abstention)
The committee discussed the amendment.
Motion as amended: "That the NFC hold a 20 minute executive session to start
the November 24, 2015, meeting." (Passed 5 for, 2 against, 2 abstentions)
The committee discussed the motion.
The committee continued to discuss the WBAI draft fy126 budget proposal. The
WBAI General Manager said that the station would be getting a bequest from the
Bolton Family Trust very soon, he did not know how much it would amount to. The
WBAI General Manager said that the Fall on-air fund raiser shortfall would be
made up by Community Events, including one on December 10, that should raise
about $20,000 and a retreat that should raise between $50,000 and $100,000. The
WBAI General Manager said that the increase in Web revenue was based on the new
Web site that has been worked on for two years. He said that some producers are
raising more via social media efforts than during on-air fund raisers. The
General Manager said that some numbers have not been entered correctly for WBAI
in FY15. He said he would send the NFC a PowerPoint presentation with line by
line details by Friday. There was a discussion of WBAI's daily tally going from
about $11,000 in FY15 to about $7,800 in the most recent on-air fund raiser.
The budget projects larger daily tally amounts than WBAI has been achieving.
The fulfillment rate in this draft budget proposal may also be too optimistic.
Non-shipment of premiums may impact Listener Support. The WBAI General Manager
said he would have a conference call with the National Office Financial
Planning and Analysis Manager about some of these issues.
Point of Order: (R. Paul Martin) "Call for the orders of the day" 10:33 PM (ET)
Motion: (Barbara Whipperman) "To extend the time of the meeting by 10 minutes
to set meeting dates." (Passed without objection) 10:34 PM (ET)
Scheduling of upcoming meetings 10:35 PM (ET)
Motion: (Brian Edwards-Tiekert) "To meet on November 30, 2015." (Passed without
objection)
Motion: (Bill Crosier) "To extend the time of the meeting by five minutes for a
report on audit status." (Passed without objection)
The Chair read an E-mail from the National Office Financial Planning and
Analysis Manager regarding the submission of audit schedules for the FY14
audit.
Adjourned 10:49 PM (ET)
Submitted by R. Paul Martin, Secretary.