Minutes for the regular National Finance Committee meeting August 23, 2011.

Meeting convened at 8:36 PM (ET) a quorum being present, the Chair and Secretary being present.
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Attending: Ken Aaron, Jim Boyd, Bill Crosier, Campbell Johnson, Kim Kaufman, R. Paul Martin, Tracy Rosenberg, Alex Steinberg, Barbara Whipperman, Lavarn Williams, Bruce Wolf.
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Agenda:

1. Approve Draft Agenda
2. Approve Minutes of 8-9 Meeting Closed and Open
3. Chair’s Report from the August 9, 2011, executive session
4. Update on DC Budget Review - with contingency plans from WPFW and National
5. Status of WBAI Waiver
6. Initial Questions/Review KPFA
7. Set next meeting date
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Motion: (Tracy Rosenberg) “To approve the agenda.” (Passed without objection)

Approve Minutes of 8-9 Meeting Closed and Open 8:43 PM (ET)

Motion: (Bruce Wolf) “To approve the minutes of the August 9, 2011, meeting.” (Passed without objection)

Chair’s Report from the August 9, 2011, executive session 8:44 PM (ET)

The Chair reported that at the executive session portion of the August 9, 2011, meeting the committee discussed personnel matters and cash flow issues.

Update on DC Budget Review - with contingency plans from WPFW and National 8:45 PM (ET)

The Chair noted that the committee has not received the contingency plans it had requested with regard to ways to address challenges that WPFW will face if they can’t raise all of the money they plan to raise. It was reported that the General Manager and Business Manager of WPFW were under the correct impression that the contingency plan was not due today, they are working on it. The CFO said that the plan was not final yet and would have to be discussed in executive session. The Chair asked that the contingency plans be ready for the next NFC meeting.

Status of WBAI Waiver 8:56 PM (ET)

It was reported that the WBAI LSB has not yet met to vote on the station’s FY12 budget. Space for a meeting is being sought. An extension of the waiver was requested. The timing of the KPFK LSB meeting was also discussed.

Motion: (Jim Boyd) “That the WBAI LSB be given an extension to September 15, to pass a budget for FY12, to be sent to the NFC for its approval as long as the agenda and notice for the LSB meeting specifically states that the NFC will impose a budget for WBAI if a budget is not presented to the NFC for its approval.”

Amendment: (R. Paul Martin) “To strike all after ‘NFC for its approval.’” (Passed without objection as amended)

Amendment: (Alex Steinberg) “To add instead ‘The NFC will not grant any further waivers to the WBAI LSB after September 14.’” (Passed without objection)

Motion as amended: “That the WBAI LSB be given an extension to September 15, to pass a budget for FY12, to be sent to the NFC for its approval. The NFC will not grant any further waivers to the WBAI LSB after September 14." (Passed without objection as amended)

The WBAI Treasurer agreed to send a copy of the motion to the WBAI LSB’s mailing list and to let the LSB know that if the WBAI LSB doesn’t approve an FY12 budget by the deadline that the NFC would take over the budget process from the LSB.

Initial Questions/Review KPFA 9:39 PM (ET)

The KPFA Treasurer announced that KPFA Staff had found about $300,000 more in revenue than had been shown on the previously submitted budget documents. She submitted a new draft FY12 budget which reflected about $300,000 more in revenues than the KPFA draft FY12 budget which had been passed by the KPFA LSB on August 20, 2011.

The committee discussed at length and in detail the proposed addition of about $300,000 in projected revenue to the KPFA draft FY12 budget proposal.

Motion: (Tracy Rosenberg) “That the NFC consider the KPFA LSB approved budget of August 20, and at the next NFC meeting invite the KPFA General Manager and Business manager to discuss this document.” (Passed 10-0-0)

The Secretary agreed to send the above motion to the PNB.

Set next meeting date 10:19 PM (ET)

The committee discussed whether to have an extra meeting before the next scheduled NFC meeting on September 6. It was decided that the Chair would pencil in an extra NFC meeting for September 15, 2011.

Motion: (R. Paul Martin) “To adjourn.” (Passed without objection)

Adjourned 10:26 PM (ET)

Submitted by R. Paul Martin, Secretary.