20190711 BOD Notes

Attendees:

BOD: Joshua M., Tanju B

Members: Alex B., Mike R,

Board of Directors status update

Both Jay and Christine have resigned this year leaving a gap on the Board and Officers
Need to define and separate Board Governance vs Operational Leadership like an Exec Director, Operations/Maintenance, Equipment Champions i.e. Lasercutter, woodworking, 3D printers
- Lively discussion about defining Board member responsibilities in writing. Joshua voiced concern that we have always struggled to get Board members. Alex indicated has expressed interested in being a Board member for a while now, but Board meetings stopped happening. All agree on the need to define roles and need to change/improve on previous practices
Need to finalize organizational Bylaws. Tanju confirmed that Bylaws have never been defined/put in place... until then rules and governance default on to the Articles Of Incorporation
Business insurance requirements per the lease
- There are multiple requirements. We have coverage for liability, but for "Damage to Premise" the lease requires $250K coverage while insurance company maxes out at $100K
- We need to get quotes from additional companies. Alex will provide contact for insurer of his family business. Tanju also got reference from Decatur Makers and will request quotes to resolve the issue.

Financial Update

Monthly electric power bill update

HVAC Cost have trended down since installing lockbox over the thermostat. The most recent bill for June was $355
- The cost is down 38% compared to June 2018.
- June 2019 = $355 vs June 2018 = $569

Financial update, income vs expenses, bank checking account status

Tanju got bank and records handoff from Christine on May 9
Tanju updated the Finance spreadsheet for May after handoff from Christine, but June is still pending
Tanju has paid all of June's bills, and July's. Everything is on bank Auto-Pay except for the Electric Bill. Waiting on new checking account debit card to be issued to Tanju to setup autopay for Electric
Tanju wants to push for hiring a bookkeeper/accountant rather than rely on a volunteer for bookkeeping
Current status of checking account is ~$2000 after bills paid. Monthly operating expenses are ~$3200
Approx $500 in cash YTD pulled from the 3D printer dropbox and deposited into account. People are paying on the honor system is working. Alex has been donating printer filament.

Membership & Maintenance update

We're back up to 58 members which is great, but we're still below the December high of 61.
New member on-boarding procedure and member retention
Makerspace maintenance, storage, clean-up

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