Pacifica National Board
Finance Committee Regular Meeting - March 22, 2007

MINUTES

A regular meeting of the PNB Finance Committee was called to order at 5:11 pm
PDT by Chair LaVarn Williams with Sandra Rawline serving as Secretary Pro-Tem
until the arrival of Terry Goodman. No minutes were approved.


Attendance

Present: Dave Adelson, Baruti Bediako, Brian Edwards-Tiekert, Jane Gatewood,
Terry Goodman (arrived at 6:00 pm), Lonnie Hicks, Sandra Rawline, Berthold
Reimers (left at about 8:45 pm), Thomas Ruffin, and LaVarn Williams.
Absent: Bob Sanborn.

Revised Agenda
1) Roll Call and Approval of Agenda (5 minutes)
2) Approval of Minutes - March 1, 2007 (5 minutes)
3) Next Meeting -Thursday, April 19, 2007 @ 8:00 PM EST (5 minutes)
4) CFO Report (20 minutes)
5) Unfinished Business (60 minutes)
a. Review of December and January Financials
b1. Finance Reporting Delays During Annual Audit
b2. Review the RFP and DDD Project Proposals
c. Investment Policy
d. Work in Subcommittees
6) Goals and Projects (20 minutes)
7) Adjourn
**Times are for guidance only ***

1. Roll Call and Approval of Agenda
The Agenda was revised and approved without objection.

2. Approval of Minutes
Approval of the March 1st meeting minutes was postponed.

3. Next Meeting
The proposed meeting date was changed. The next committee meeting is scheduled
for Monday, April 9, 2007 at 8pm EDT.

4. CFO Report
A CFO Report was given by Lonnie Hicks followed by Q&A from committee members.
There was some confusion regarding three upcoming finance-related meetings:

a) A finance orientation teleconference is to occur including LSB Treasurers,
Station Business Managers, and the CFO. This teleconference is scheduled to
begin at 5pm EDT on April 10, 2007.

b) A joint meeting teleconference is to occur including the members of the
PNB Finance and Audit Committees to review and approve a draft Financial
Policies and Procedures Manual. The April Audit Committee meeting just
scheduled has NOT been announced as this joint meeting, which was to occur
before the next in-person PNB meeting.

c) Discussions continue regarding a suggested in-person operations meeting in
July to include the CFO, unit General Managers, and Finance Committee
Directors. Dave Adelson may recommend to the Coordinating Committee that the
thematic discussion portion of the July PNB meeting be an interaction with
management on how to implement strategic planning, with management proposals
submitted in advance.

5a. Review of December and January Financials
The CFO answered committee member questions regarding recent financial reports.

5b1. Finance Reporting Delays During Annual Audit
(This item was removed from the agenda when approved and added back without
objection.) The KPFK LSB Treasurer complained about LSB Finance Committees not
receiving regular financial reports in the first quarter of each fiscal year.
The CFO assured the committee that first quarter financial reports from station
Business Managers will not be delayed by the National Finance Office. The
committee will check the status of station finance reports at its October
and/or November 2008 committee meetings.

5b2a. Review the DDD Project Proposal
There was discussion regarding the Digital Distribution and Licensing Proposal,
primarily focused on the financial impact statement prepared by the CFO.

Motion by Dave Adelson: that the financial impact statement shall indicate that
the $15,000 funds to be expended shall be assigned to the consultant line item
in the National Office Budget, and that the range of possible impact on the
bottom line shall indicate a maximum change in the bottom line of $15,000, with
a note that the change will likely be less.
Motion passed: Y: 7; N: 0, A: 2
Y: Adelson, Bediako, Goodman, Hicks, Rawline, Ruffin, Williams
A: Edwards-Tiekert, Gatewood

Motion by Terry Goodman (as amended by motions from Brian Edwards-Tiekert):
that the PNB Finance Committee has reviewed the CFO's financial impact summary
for the DDD project (as amended) and finds the project financially feasible and
the impact summary reasonable, but recommends that the PNB carefully ensure
compliance with the self-dealing provisions of the California Corporations Code
and IRS Tax Codes pertaining to determination of status as an employee versus a
contractor. The National Financial Committee is not reviewing or commenting
upon the merits of any particular person doing this work.
Motion passed: Y: 6; N: 3
Y: Adelson, Bediako, Gatewood, Goodman, Hicks, Rawline
N: Edwards-Tiekert, Ruffin, Williams

5b2b. Review the RFP Project Proposal
Consideration postponed by adjournment.

5c. Investment Policy
Consideration postponed by adjournment.

5d. Work in Subcommittees
Consideration postponed by adjournment.

6. Goals and Projects
Consideration postponed by adjournment.

7. Ajournment
The meeting was adjourned without objection at about 9:15 pm PDT.

Respectfully submitted,
Terry Goodman, Secretary
These minutes were approved on May 24, 2007.