Draft Minutes for the regular National Finance Committee meeting November 29, 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, Marcus Jetter, Campbell Johnson, Kim Kaufman, R. Paul Martin, Tracy Rosenberg, Alex Steinberg, Barbara Whipperman, Lavarn Williams.
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Agenda:

1. Role Call and Approve Agenda (10 minutes)

2. Approve Public Session Minutes (10 minutes)

3. Station Reviews - Fiscal Year Budgets to Actual and Overall Results (90 minutes)
	a) KPFT - Jim Boyd
	b) KPFK - Kim Kaufman
	c) Archives - Lavarn Williams

3.1 Executive session no later than 10:30 PM (ET)

4. Draft Motion by Ken Aaron (15 minutes)

5. Pending Discussion Items (as possible) (30 minutes - 45 minutes)
	a) Central File Servers
	b) File Naming Protocol
	c) On-Air Fundraiser Receipts
	d) Training Update
	e) Accounting Platforms

6. Adjourn
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Motion: “To adopt the agenda.” (Passed as amended without objection)

Amendment: (Tracy Rosenberg) “Add item 3.1 executive session no later than 2230.” (Passed without objection)

Approve Public Session Minutes 8:52 PM (ET)

Motion: (Bill Crosier) “To approve the minutes of the October 11, 2011, meeting.” (Passed without objection)

Station Reviews - Fiscal Year Budgets to Actual and Overall Results 8:56 PM (ET)

KPFT 8:58 PM (ET)

The KPFT Treasurer reported that the station’s biggest problem is revenue. They had a snow storm during one on-air fund raiser which significantly lowered their listener support revenue. They have come in about $110,000 short of the budgeted FY11 revenue. They have also seen a drop off of revenue from pitches in the Democracy Now! time slot. The station has gotten a $50,000 restricted marketing grant, but the costs associated with it are high. They are hiring a firm to help them market the station.

The committee discussed the report. If the station hadn’t signed a contract to provide HD channels for Rice University the station would have had a worse revenue situation. A fund raising event also did not raise as much as projected due to unexpected costs.

KPFK 9:18 PM (ET)

The KPFK Treasurer reported that the Income Statement spreadsheet shows Listener Support to be $3,140,174, but she has issues with that and other numbers. On another sheet there are $349,000 of receivables. She thinks that there appears to be about a $200,000 spread between what’s in the Income Statement and her calculations.

It was noted that the Income Statement is based on preliminary numbers and that the audit will settle the issues. The CFO said that the numbers in the Income Statement are correct. The KPFK Treasurer said that the CFO’s numbers were different from the numbers she’s getting from the KPFK Business Manager.

The CFO said that there wouldn’t be any cash flow statements sent out for most stations until after the audit is done, and that after that there will be cash flows issued on a monthly basis. The KPFK Treasurer said that it was disconcerting that different spreadsheets appeared to have different numbers. Committee members said that in the future the formulas in the spreadsheet should be used and that numbers should not be typed in for results as that makes for differences in the spreadsheet and the numbers won’t add up right.

The CFO said that KPFK ended FY11 with a $224,000 surplus, which was almost $400,000 better than FY10. Committee members discussed this and noted that although Listener Support was up so were premium costs, they are associated. The Chair said that the committee should revisit the KPFK compliance with the FY11 budget in a future meeting.

Archives 9:47 PM (ET)

The CFO reported that the Pacifica Radio Archives (PRA) had run an unplanned deficit in FY11. The main reason for this was that a grant from the CPB that had been budgeted was unexpectedly cancelled by the CPB. The PRA had already hired personnel to fulfill the grant. One of those people had to be let go, the other two stayed on and that produced the deficit. Grants were not included in the FY12 budget. The health benefits budget was based on assumptions that turned out not to be correct.

The committee discussed the report. The details of the stations’ funding of PRA was discussed. Some issues were slated for discussion in executive session.

Motion: (Campbell Johnson) “To adjourn to executive session.” (Passed without objection)

Adjourned 10:11 PM (ET)

Submitted by R. Paul Martin, Secretary.