Pacifica National Board
Finance Committee Meeting - August 23, 2007

MINUTES

A meeting of the PNB Finance Committee was called to order at 5:15 pm PDT by
Chair LaVarn Williams with Terry Goodman serving as Secretary. No minutes were
approved.


Attendance

Present: Dave Adelson, Baruti Bediako, Brian Edwards-Tiekert, Jane Gatewood,
Terry Goodman (arrived at 5:46 pm), Lonnie Hicks, Sandra Rawline (arrived at
5:34 pm), Berthold Reimers (arrived at 7:09 pm), Thomas Ruffin (arrived at 6:50
pm), and LaVarn Williams.
Absent: Mike Martin.

Agenda
1) Roll Call (5 minutes)
2) Approval of Minutes (5 minutes)
3) Next Meeting Thursday, September 13, 2007 @ 8:00 PM EDT (5 minutes)
4) CFO Report and Approved 2008 Budgets (90 minutes)
a. Motions to Approve Budgets
b. Motions Approved in July PNB Meeting
c. Motions forwarded to NFC by PNB
5) Financial Policies & Procedures Manual (5 minutes)
6) New Business (5 minutes)
7) Adjournment
** Times are for guidance only **

1. Roll Call and Approval of Agenda
The proposed agenda was approved without objection at 5:19 pm on the motion of
Jane Gatewood.

2. Approval of Minutes
Approval of the July 19th minutes was postponed without objection on the motion
of LaVarn Williams at 5:19 pm.

3. Next Meeting
Motion from LaVarn Williams that the Finance Committee schedule a regular
meeting for Thursday, September 13, 2007 at 8:00 pm EDT.
Motion passed without objection at 5:20 pm.

Motion from LaVarn Williams that the Finance Committee schedule an adjourned
meeting for Wednesday, August 29, 2007 at 8:30 pm EDT.
Motion passed without objection at 5:20 pm.

4. CFO Report & 2008 Budget Status
The CFO's report began at about 6:00 pm and included a summary of concerns
regarding budget drafts and submissions. Detailed examination of budgets by
the committee is expected at its next meeting in a week. The CFO recommends
compliance with the PNB resolution on holding expenses to FY'07 levels with
specific waivers required and allowed only where the expense can be justified
by a resulting increase in revenue. The CFO recommends budget approvals only
for the first quarter, and notes that the current budgets do not reflect the
PNB recommendation to establish contingency funds. The CFO recommends waivers
this year such that each station is only required to show a month reserve,
but notes that the PNB policy is for each station to have a 1 month reserve and
to increase that reserve by month annually until a 3 month reserve has been
accumulated.

4a. Motions to Approve Budgets

4a(1). WBAI Budget Consideration
Discussion of WBAI finances began at 5:50 pm. The WBAI LSB Finance Committee
has had difficulty obtaining the data required for financial planning and needs
more time to craft a balanced budget. The WBAI LSB Finance Committee
recommends no staff layoffs or pay cuts and an additional $10,000 advertising
investment. Bartuti Bediako will forward to the Committee the text of the WBAI
LSB Finance Committee motion. Further discussion of this item was postponed to
the next meeting. Committee members are to send questions to Bediako in
preparation for that discussion.

4a(2). KPFT Budget Consideration
Discussion of this item was postponed to the next meeting.

4a(3). KPFK Budget Consideration
There was discussion of KPFK financials. The LSB-approved budget would
seriously reduce the station's reserves. The CFO recommends a budget
adjustment to include 40 to 100 thousand dollars of contingency funding plus
advice from counsel on potential legal expenses. The station may need to defer
proposed capital improvements. Further discussion of this item was postponed
to the next meeting.

4a(4). KPFA Budget Consideration
Discussion of this item was postponed to the next meeting.

4a(5). WPFW Budget Consideration
WPFW is showing a significant cash surplus. The WPFW budget is scheduled for
LSB approval on September 10, 2007. The expenses for the WPFW Anniversary Gala
are not yet incorporated into the draft. The CFO will contact the WPFW
Business Manager and LSB Treasurer tomorrow by telephone to assist in
finalizing the draft. Further discussion of this item was postponed to the next
meeting.

4a(6). National Office Budget Consideration
The National Office budget is bad and getting worse, as it depends upon revenue
from stations and sometimes covers station expenses. The proposed FY'08
expense for Free Speech Radio News is 500 thousand dollars. Democracy Now!
Productions is proposing to continue a 4% increase per year. Some CPB grants
applied for by the National Office have been declined. Board meeting costs are
high. Staff reductions at the National Office are planned. The Pacifica Radio
Archives is going forward with a 1968 Project and a BBC Project that should
build audience and increase income, if carried forward with strategic
utilization of web resources, which need some infrastructure capacity building.
Further discussion of this item was postponed to the next meeting.

4b. Motions Approved in July PNB Meeting
Consideration of this item was postponed by meeting adjournment.

4c. Motions forwarded to NFC by PNB
Consideration of this item was postponed by meeting adjournment.

5. Financial Policies & Procedures Manual
Consideration of this item was postponed by meeting adjournment.

6. New Business
Consideration of this item was postponed by meeting adjournment.

7. Adjournment
The public meeting was adjourned (to an immediate closed session) at 7:11 pm
PDT without objection to a time certain of 8:30 pm EDT on Wednesday, August 29,
2007 on the motion of Dave Adelson.

Terry Goodman, Secretary
These minutes were approved on 9/13/07.