Pacifica National Board
Finance Committee Adjourned Meeting - November 29, 2007
An adjourned meeting of the PNB Finance Committee was convened at 5:47 pm PST
by LaVarn Williams on November 29, 2007 with Terry Goodman serving as
Secretary, the meeting having been scheduled on November 26, 2007 when quorum
was not achieved. Minutes were approved for the meetings of 01/11/2005,
02/04/2005, 02/18/2005, 03/04/2005, 03/28/2005, 06/03/2005, 06/10/2005,
09/18/2005, 10/13/2005, 12/01/2005, 03/20/2006, 05/04/2006, 06/18/2007 (Joint
w/Audit), and 09/26/2007.
Present: Baruti Bediako, Brian Edwards-Tiekert, Terry Goodman, Lonnie Hicks,
Sandra Rawline (left at 6:47 pm), LaVarn Williams.
Absent: Dave Adelson, Jane Gatewood, Mike Martin, Berthold Reimers
1) Roll Call & Approval of Agenda (5 minutes)
2) Approval of Minutes (15 minutes)
05/05/2004, 01/11/2005, 02/04/2005, 02/18/2005, 03/04/2005
03/28/2005, 06/03/2005, 06/10/2005, 09/18/2005, 10/13/2005
12/01/2005, 03/20/2006, 05/04/2006, 06/18/2007 (Joint w/Audit)
3) Next Meeting (5 minutes)
4) CFO Report (60 minutes)
a. Income & Expenses, YTD Actual vs. Budget - All Units
i. Fund Drive Lengths
b. WBAI Recovery Plan
i. WBAI/National Development Director
c. WBAI Recovery Monitoring
d. PNB Motions
i. Finance-Related Motions Approved by PNB
ii. Motions Referred to Finance Committee
5) Financial Policies & Procedures Manual (10 minutes)
6) New Business (5 minutes)
** Times are for guidance only **
1. Roll Call & Approval of Agenda
The agenda (as amended on the motion of Lonnie Hicks) was approved without
objection on the motion of Sandra Rawline at 5:54 pm.
2. Approval of Minutes
The minutes of the PNB Finance Committee meetings of 01/11/2005, 02/04/2005,
02/18/2005, 03/04/2005, 03/28/2005, 06/03/2005, 06/10/2005, 09/18/2005,
10/13/2005, 12/01/2005, 03/20/2006, 05/04/2006, 06/18/2007 (Joint w/Audit),
09/26/2007, and 10/25/2007 were approved without objection on the motion of
Terry Goodman, with Baruti Bediako and Brian Edwards-Tiekert abstaining.
3 Next Meeting
Meetings were scheduled for Monday, December 10, 2007 and Tuesday, January 8,
2008 without objection on the motion of Lonnie Hicks.
4. CFO Report
The CFO summarized and expanded upon a written report sent via email in advance
of the meeting.
4a. Income & Expenses, YTD Actual vs. Budget - All Units
Budgets must be updated to reflect loss of CPB funding and realistic projection
of anticipated expenses for legal, ADA compliance, and transmitter conversions.
If there is no revenue growth, a budget shortfall in the neighborhood of
$850,000 can be anticipated for FY'08 with the cash flow situation at WBAI
reaching critical in April. WPFW must relocate by November and fifteen
possible buildings have been identified by the city. Multiple strategies for
financing a relocation of WBAI studios are being explored. Staffing costs are
higher than we can afford and a structural reorganization is needed.
4a(i). Fund Drive Lengths
KPFK, KPFT, and WBAI needed 3-week fund drives to meet or get near goals.
KPFA's drive was 2-1/2 weeks. WPFW's drive was two weeks.
4b. WBAI Recovery Plan
Discussion of the WBAI recovery plan began at 6:52 pm.
Motion from Baruti Bediako that the Finance Committee establish a workgroup to
develop language for an RFP for an operational audit of WBAI.
Motion passed without objection.
Lonnie Hicks, Baruti Bediako, and LaVarn Williams were appointed without
objection to the workgroup, and a meeting via teleconference was scheduled for
11:00 am PST on Tuesday, December 4, 2007.
4b(i) WBAI/National Development Director
Consideration of this item was postponed indefinitely without objection on the
motion of LaVarn Williams at 7:54 pm. LaVarn Williams and Lonnie Hicks will
review the feasibility of this proposal in a meeting with the new Executive
Director early next month.
4c. WBAI Recovery Monitoring
This item was discussed during the CFO report. The planned 5% reduction in
salary expenses has not occurred. Negative reaction is on the agenda for a PNB
4d. PNB Motions
Discussion of finance-related motions approved by the PNB and motions referred
to the Finance Committee by the PNB was incorporated into the CFO report. As
indicated in 4b(i) above, action on some items is being held in abeyance
pending review and input from the new Executive Director.
5. Financial Policies & Procedures Manual
This item was considered during the CFO report.
Motion from Lonnie Hicks that the Finance Committee approves the draft Policies
and Procedures Manual and supports Audit Committee referral to the Board.
Motion postponed without objection on the motion of Brian Edwards-Tiekert at
Lonnie Hicks will re-send the final draft to members of the Committee.
6. New Business
There was no new business.
The meeting was adjourned without objection at 7:57 pm PST on the motion of
Terry Goodman, Secretary
These minutes were approved on 12/10/2007.