FAI BOD Minutes: Aug 2018

In attendance – Mary, Ryan, Chad, Draven, Aly, Stabler

President’s Statement
We have a permit. Much of this meeting will be to vote on the Bylaw changes. Due to reasons, which are also executive privileged.

  • Old business 4:42
  • Ryan moves we get started. 4:42
  • 2018 Bylaw revisions vote
  • Announce the nominations and elections a few days after we announce the Alchemy ticket sales. We need an elections committee. Draven suggests Llucas, Lance, and Ghini, and maybe Michelle. Reach out to the community about running.
  • Ryan asks Draven if he will stay on as treasurer, and Draven agrees. Draven will stay as treasurer. So say we all.
  • New Business
  • Sanctioning – Move to table other than check-ins until after permitting.
  • Update all committee charters – Mary
  • Consider having a financial advisory committee
  • For 501c3 creation, and other financial advice
  • Draven can be the non-board chair
  • How do we manage the EC?
  • Define clear roles and responsibilities.
  • Anything the Board and the EL agree on is immediately policy
  • Manage expectations – EC expects same autonomy in August as they do in October. We need to have an earlier voice without overreaching.
  • Determine event plans in coordination with event leadership and then turn over to EC for carryout – do this after Alchemy
  • Encourage EC people to run for Board
  • We need to let people move around in leadership, not just up – maybe prevent some burnout.
  • Add a third “co-lead” to the Euphoria ELs
  • Need to start collecting institutional knowledge about the various EC teams
  • Debrief with CH after Alchemy to see what we need for future permits.
  • Ryan is reaching out to health department to see what, if anything, they want, besides our porta potty plan.
  • Gifts for CH officials
  • Transition PWC to Craig when Jeff’s term is up.
  • Committee submits new roster, and the Board signs off. Ratify before Alchemy so Craig can observe at Alchemy, and he can be caught up with Draven before January 1. Ask Jeff to submit notice of his intent to step down.
  • Committee updates
  • Home Committee (Ryan & Mary)
  • Ryan reaching out to health department
  • Hugh promises no issues with movie filming
  • We still need to get this in writing – Ryan will memorialize in an email.
  • We will add to the land agreement after Alchemy.
  • Ryan spoke with the mayor about opportunities for volunteering and donations – arts are a big deal there, this would be a good place to get involved.
  • Possibly have a boot drive for the FD
  • Tech-Ops (Need to get them going) table
  • PWC (Aly & Draven) – The Board does not want PWC involved in the land clearing, they are free to offer volunteers
  • “EC” (Mary & Aly) What is their plan for event borders?
  • Financial Update – Good news – $100K in ticket revenue, about $10K has posted so far.
  • Asked Jules to hold off on the art grants in order to keep the money liquid.
  • EC will receive money based on 107 per ticket regardless of trade ins
  • We have an org credit card with a $5K limit
  • Currently forecast to end the year with positive cash flow.
  • Removed the $10K possible refund from forecast
  • Request deposit back from Dalon – falls under the VP duties Chad will do.
  • Optics – get the bylaws changed within the next two weeks.
  • Move to accept the bylaw changes as drafted – Mary
  • Vote is unanimous
  • 501c3 – Update and how to move forward
  • 90K, 65K in reserves, 25K in Alchemy account, so we have about 1,600 outside the reserves
  • Draven mentioned something about a credit line – he will check into that
  • Dalon potentially has 10K of our money, follow up cordially to start
  • We need to openly report our financials, which means revealing the land expense as part of transparency.
  • Check the refund and severability clauses in the K.
  • Any other points from Members
  • What we need to be working on
  • 501c3 in the works. Stabler says to make it a separate corporation. Do we want to do a separate board of directors.
  • There are multiple ways to handle this. I need to look into them.
  • The separate boards can recommend the members of the other board.
  • Can we satisfactorily conduct ourselves as a 501c3
  • What is the usual organizational setup for entities like ours?
  • What we can do to improve
  • Closing – Move to close because Stabler and Canada. 8:22

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