Minutes for the regular National Finance Committee meeting April 26, 2011.<br />
<br />
Meeting convened at 8:36 PM (ET) a quorum being present, the Chair and<br />
Secretary being present.<br />
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Attending: Ken Aaron, Jim Boyd, Bill Crosier, Campbell Johnson, Kim<br />
Kaufman, R. Paul Martin, Tracy Rosenberg, Alex Steinberg, Barbara<br />
Whipperman, Lavarn Williams, Bruce Wolf, also attending was Executive<br />
Director Arlene Englehardt.<br />
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Agenda:<br />
<br />
1. Approve Draft Agenda (10 minutes) <br />
2. Approve April 12 Minutes (10 minutes) <br />
3. Updates on Treasurers Meeting, PNB re: timeline and underwriting (15<br />
minutes) <br />
4. Midyear Budget Review (1-2 Stations) (45 minutes) <br />
5. New Business (15 minutes) <br />
<br />
Motion : That a spreadsheet be maintained on the NFC Yahoo Group<br />
documenting the status of the different business units In compliance with<br />
the Budget Time Line.  This to be maintained by the secretary based on<br />
emails he receives from the committee members.<br />
<br />
Motion from Tracy Rosenberg<br />
Motion: That station financial statements include a list of grants held in<br />
restricted funds that cite the name of the provider and the named<br />
restrictions on the use of the funds.<br />
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<br />
Motion: (Tracy Rosenberg) "To approve the agenda." (Passed without<br />
objection)<br />
<br />
Approve April 12 Minutes 8:42 PM (ET)<br />
<br />
Motion: "To approve the minutes of the April 12, 2011, meeting." (Passed<br />
without objection)<br />
<br />
Updates on Treasurers Meeting, PNB re: timeline and underwriting 8:43 PM<br />
(ET)<br />
<br />
Treasurers Meeting 8:43 PM (ET)<br />
<br />
The CFO reported that the Treasurers, Business Managers and she had met on<br />
April 19 and had discussed the internal timeline for the FY12 budget.<br />
<br />
PNB re: timeline 8:45 PM (ET)<br />
<br />
The Chair reported that the April 7, PNB meeting hadn't gotten to the NFC<br />
report. She sent the schedule to the PNB and it will be gotten to at a<br />
future PNB meeting.<br />
<br />
Underwriting 8:45 PM (ET)<br />
The Chair noted that allegations had been made that WBAI and Pacifica had<br />
accepted underwriting of programs from the corporation Goldman Sachs. She<br />
has researched these allegations and has issued a written report on them.<br />
Her research revealed that WBAI had been given two donations, one for<br />
$5,000 and one for $10,000. These donations were a donor advised gift from<br />
an individual given to the station through Goldman Sachs Gives, a<br />
charitable institution. The donor had recommended that the funds be used<br />
for the WBAI News Department and for a series on hydro-fracking, but that<br />
there were no restrictions on the funds. She recommended that the money be<br />
reclassified as an unrestricted gift from a major donor and not as grants.<br />
<br />
The committee discussed this topic. It was noted that the claims of<br />
underwriting had come from two individuals and not from the WBAI LSB. It<br />
was also noted that the KPFA News had reported that WBAI had taken<br />
underwriting from a corporation.<br />
<br />
Midyear Budget Review 9:11 PM (ET)<br />
<br />
The committee heard a report on KPFT's compliance with its FY11 budget for<br />
the first half of the year. The station had weather and transmitter<br />
problems during an on-air fund raiser which resulted in missing it's<br />
listener support goal by about 12 to 13%. With KTRU using KPFT's HD-2<br />
channel they are getting some younger listeners.<br />
<br />
The committee discussed the report.<br />
<br />
The committee discussed what the format of the formal, written reports<br />
should be.<br />
<br />
It was reported that the Business Manager of WPFW is having a hard time<br />
getting reports from the National Office due to being locked out of the<br />
server due to the audit. WPFW is doing a little better than goal with more<br />
realistic goals for listeners support. The station is using "soft sell"<br />
reminders to listeners that they need money for rent, etc. This has gotten<br />
an additional $12,000. A LSB fund raiser raised about $6,500. They are near<br />
or approaching goal with car donations. Old bills are being paid off. Some<br />
FY11 income went to pay bills from FY10. There are some unexpected legal<br />
fees that will cost $5,000 a month for a while longer. The station's<br />
antenna location will have to be moved a year sooner than expected because<br />
of a changed schedule for lead abatement in the building. There was a<br />
saving on salaries for the first quarter because there was no General<br />
Manager. The station expects to have a new, improved Web site by May 1. A<br />
major donor committee has been formed.<br />
<br />
The committee discussed the report. The decision by Staff to cut salaries<br />
by 50% has helped a lot.<br />
<br />
New Business 10:04 PM (ET)<br />
<br />
Motion: (Ken Aaron) "That a spreadsheet be maintained on the NFC Yahoo<br />
Group documenting the status of the different business units in compliance<br />
with the Budget Time Line. This to be maintained by the Secretary based on<br />
E-mails he receives from the committee members." (Passed without<br />
objection)<br />
<br />
The committee discussed the motion.<br />
<br />
Motion: (Tracy Rosenberg) "That station income statements include a list<br />
of grants held in restricted funds that cite the name of the provider and<br />
the named restrictions on the use of the funds."<br />
<br />
Amendment: (Ken Aaron) "To add 'at donor discretion.' after 'provider.'"<br />
(passed without objection)<br />
<br />
The committee debated the motion and amendment.<br />
<br />
Motion as amended: "That the station income statements include a list of<br />
grants held in restricted funds that cite the name of the provider, at<br />
donor discretion, and the named restrictions on the use of the funds."<br />
(passed as amended 10 for, 1 against)<br />
<br />
Adjourned 10:36 PM (ET)<br />
<br />
Submitted by R. Paul Martin, Secretary<br />
<br />