Minutes for the regular National Finance Committee meeting September 24, 2013.<br><br>Meeting convened at 8:37 PM (ET) a<br />
quorum being present, the Chair and Secretary being<br />
present.<br>----------------------------------------------------------------------------------------------------<br>Attending:<br />
Jim Boyd, John Cromshow, R. Paul Martin(Secretary), Tony Norman, Michael Novick, Tracy Rosenberg (Chair), Manijeh Saba,<br />
Raul Salvador (CFO), Richard Uzzell, Barbara Whipperman, also attending was WBAI General Manager Berthold<br />
Reimers.<br>----------------------------------------------------------------------------------------------------<br>Agenda:<br><br>1.<br />
Roll Call<br>2. Approve Minutes<br>3. Complete Review and Recommendation on WBAI FY14 Budget<br>4. FSRN<br>5. Scheduling<br />
of PRA and National Office<br />
Budgets<br><br>----------------------------------------------------------------------------------------------------<br><br>Motion:<br />
(Jim Boyd) “To approve the agenda.” (Passed without objection)<br><br>Approve Minutes 8:43 PM (ET)<br><br>Motion:<br />
(Michael Novick) “To approve the minutes of the September 3, 2013, meeting.” (Passed without objection)<br><br>Motion:<br />
(Michael Novick) “To approve the minutes of the September 10, 2013, meeting.” (Passed without objection)<br><br>Complete<br />
Review and Recommendation on WBAI FY14 Budget 8:45 PM (ET)<br><br>The committee resumed its discussion of the WBAI FY14<br />
budget proposal.<br><br>The CFO said that he had no solid information on WBAI’s CPB grant yet, but his guesstimate based<br />
on previous years is that WBAI should get a total of about $302,089 in combined restricted and unrestricted CPB<br />
grants.<br><br>There was a discussion about how WBAI could avoid late fees for its transmitter at the Empire State<br />
Building.<br><br>Motion: (Tracy Rosenberg) “The NFC recommends to the PNB the adoption of the WBAI Management draft FY14<br />
budget with the following modifications: ‘Listener Support’ General Ledger #5000, Line 4 $1,566,235; ‘Grants - CPB/CSG’<br />
General Ledger #5801 Line 19 to $225,205; ‘Grants - CPB (Restricted)’ General Ledger #5802 Line 20 to $73,000;<br />
‘Professional Svc. Legal’  General Ledger #6530 Line 91 to $15,000; ‘Office Rent’ General Ledger #6610 Line 104 to<br />
$122,400; ‘Settlements - Legal’ General Ledger #6900 Line 114 to $0; ‘LSB Election’  General Ledger #6595 Line 128 to<br />
$18,000; ‘Free Speech Radio News’ General Ledger #6702 Line 149 to $73,000; ‘Total Revenue’ Line 27 to $2,405,200; total<br />
expenses before ‘Shared Expenses’ $2.010 million; ‘Central Services’ Line 47 to $305,416; surplus after capital to<br />
$9,805." (Passed without objection)<br><br>FSRN 10:58 PM (ET)<br><br>The committee discussed the FSRN layoffs and<br />
suspension of operations, along with the Pacifica financial issues related to FSRN. Pacifica owes FSRN about $190,000,<br />
about $75,000 to $85,000 of that is CPB grant money that Pacifica hasn’t received yet. About $125,000 goes back some<br />
time and was used for emergencies at stations. The FSRN fees had been more than the amount of the CPB grant but the FSRN<br />
contract has been downgraded twice since then. The latest negotiations have FSRN not being the recipient of the entire<br />
CPB grant. The reductions have caused FSRN financial stress. FSRN has been unable to develop adequate revenue streams<br />
outside of Pacifica.<br><br>Scheduling of PRA and National Office Budgets 11:12 PM (ET)<br><br>The committee discussed<br />
the scheduling of future budgets. The WPFW FY14 budget proposal will be considered on September 27. The Pacifica Radio<br />
Archives and National Office budgets should get done at the regular NFC meeting on October 8, and the Consolidated<br />
Budget after that.<br><br>Adjourned 11:20 PM (ET)<br><br>Submitted by R. Paul Martin, Secretary.