Hey all-

Will, Molly and myself had a check in about budget and accounting stuff this week, here are some notes from our convo and the tasks we agreed to take on in pursuit of healthy wholesome finances and budgeting for Icarus! Huzzah! Let me know if I missed anything Will & Molly.

Mimi

Accounting and FJC relations

*Need to clarify Jessie's role and salary- how does it fold into the budget?
keeps receipts, enters data into quickbooks, creates reports
paid $105 for May and $185 for January- roughly $50/ month

*Create master document based on new payroll agreements
reports to FJC are on openplans
get a schedule of when to send invoices
mtg with katie?

Mimi- set up a meeting with Jessie to talk about new structure and her role, in the interest of merging financial record keeping
look into problem with FJC website
get an invoice for Michael and submit payroll for May
establish good relations with FJC and make sure all paperwork submitted

Budget

over the last 3 years, roughly $5,000/ month expenses
approx. $4,200 goes to staff

in the new proposal, $3,600/ month goes to staff
approx. $1,4000/ month for publications, travel, etc.

Need to determine what percentage of operating costs go to what and streamline the process for donations and pubs sales (generating income)

Molly- Speak to Michael G. (?) potential volunteer for ad hoc budget committee

Bank Account

Pursue a bank account where funds generated by online sales of pubs could go
Use bank statements to track expenses
"Donate" profits back to FJC

Mimi will contact oryx at Collective Initiatives regarding using 501(c) 3 status for account
begin conversations with FJC about the use of an independent bank account for Icarus

Database

Use of open plans skill share to include an introduction to "salsa" database as offered by www.democracyinaction.org
Mimi signed icarus up for a 30 day trial- will be underway by mid next week!