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Board Meeting

August 17, 1997

"8/17/97 10:32:59 AM","Nancy","Please come to order, the board meeting will begin"
"8/17/97 10:33:17 AM","Nancy","The agenda and exhibits are on the whiteboard - 3 pages."
"8/17/97 10:33:45 AM","Nancy","The first item on the agenda is the accounting method and current balance sheet."
"8/17/97 10:33:51 AM","Nancy","I now open the floor to discussion."
"8/17/97 10:34:14 AM","Nancy","I'd like to ask Ron if the accounting method looks similar to what he has been using."
"8/17/97 10:35:12 AM","Ron","sorry, rti for the past few minutes."
"8/17/97 10:35:33 AM","Ron","updated now, yes the accounting method looks similar, but i feel we need a little more detail on the statements."
"8/17/97 10:35:56 AM","Nancy","Diane, can you comment? I think the detail is missing because we have no activity as yet!"
"8/17/97 10:36:21 AM","Ron","In particular I think that the income statement should show"
"8/17/97 10:36:39 AM","Diana","simce we have no current expenses--this is what shows as income, and capital--i hae to scan in the accounts statements yet --"
"8/17/97 10:36:44 AM","Ron","the catatories revenued, and expenses, not revenue / liabilities and equity, but i thought the one posted on the web had that"
"8/17/97 10:37:21 AM","Ron","and, the revenue section is not itemized (as the asset section is) we need have a title (REVENUE) then item (GIFTS) like this"
"8/17/97 10:37:25 AM","Nancy","Ron, the one posted on the web is the same one I have on the whiteboard."
"8/17/97 10:37:37 AM","Diana","some of the numbers are in the wrong place. that probally happened when i mailed it tot you guys"
"8/17/97 10:37:38 AM","Diana","to"
"8/17/97 10:38:09 AM","Diana","yes--i should ad gifts in there--"
"8/17/97 10:38:31 AM","Ron","as you said, it will fill out with activitiy."
"8/17/97 10:38:36 AM","Diana","like i said--that was just a prelim to see where we stood--i already am working on another sheet "
"8/17/97 10:38:43 AM","Nancy","Diane, the 3rd item on the agenda discusses electronic sharing, and this is important because indeed, all the numbers ran to the left side on what you sent, so I took a guess."
"8/17/97 10:38:50 AM","Ron","i figured you were. :) "
"8/17/97 10:39:24 AM","Diana","the nect one i send i will put in html format so it looks liek it is supposed to :)"
"8/17/97 10:39:32 AM","Ron","I think this is a wonderful step toward what we need. next month I am sure I will have more comments."
"8/17/97 10:39:35 AM","Nancy","So, Diane and Ron are in agreement on the accounting method, with changes mentioned and the items as she SENT them, not as I interpreted them?"
"8/17/97 10:39:36 AM","Ron","Coool."
"8/17/97 10:39:57 AM","Ron","Yup"
"8/17/97 10:40:13 AM","Diana","yeppers"
"8/17/97 10:40:22 AM","Nancy","Gerard, are Pat or Brand online via IRC? If so, you need to update them on the discussion as we are probably nearing a vote call."
"8/17/97 10:40:33 AM","Gerard","No they aren't online via IRC"
"8/17/97 10:41:01 AM","Nancy","Are we done discussing the accounting method? Does someone want to move for a vote to accept, etc.?"
"8/17/97 10:41:16 AM","Clipper","I move for a vote"
"8/17/97 10:41:33 AM","Nancy","Clipper, please restate the issue in your move."
"8/17/97 10:41:57 AM","Clipper","I move for a vote to accept"
"8/17/97 10:42:32 AM","Ron","Am iI eligible to make a motion on this issue nancy?"
"8/17/97 10:42:34 AM","Nancy","Clipper, please state something like ""I move we accept the accounting method presented"""
"8/17/97 10:42:40 AM","Nancy","Ron, sure!"
"8/17/97 10:43:07 AM","Clipper","I move we accept the accounting method presented."
"8/17/97 10:43:19 AM","Nancy","Does someone second the motion?"
"8/17/97 10:43:24 AM","Ron","I second that"
"8/17/97 10:44:11 AM","Nancy","A motion had been made and seconded to accept the accounting method presented by the Treasurer, Diane. All in favor say YES, opposed say NO."
"8/17/97 10:44:22 AM","Ron","yes"
"8/17/97 10:44:24 AM","Diana","yes"
"8/17/97 10:44:24 AM","Gerard","yes"
"8/17/97 10:44:25 AM","Clipper","Yes"
"8/17/97 10:44:42 AM","Nancy","Yes"
"8/17/97 10:44:54 AM","Nancy","The motion passes."
"8/17/97 10:45:10 AM","Nancy","The second item on the agenda is the 2 Year Budget, which is page 2 on the whiteboard."
"8/17/97 10:45:43 AM","Gerard","btw Diana will be right back"
"8/17/97 10:45:44 AM","Clipper","What about the bank choice?"
"8/17/97 10:46:02 AM","Nancy","Please note that our fiscal year ends in December, and that other than $100 for InterNIC registration of a domain name and $50 for petty cash, all the funds have been spent already"
"8/17/97 10:46:20 AM","Nancy","Well, not spent but committed. "
"8/17/97 10:46:27 AM","Nancy","The receipt have yet to come into Diane."
"8/17/97 10:47:03 AM","Nancy","We're in good shape on Year 1, with over $100 to spare."
"8/17/97 10:47:27 AM","Gerard","Yes we are."
"8/17/97 10:47:28 AM","Nancy","Year 2 has recurring expenses related to incorporation, the TCC agent fees, the PO box fees, etc."
"8/17/97 10:48:13 AM","Ron","so this is a contingency budget, to be revised upon reciept of future grants?"
"8/17/97 10:48:42 AM","Nancy","I put in entirely hypothetical swag on D&O insurance and CPA fee for review of tax returns and attorney retainer."
"8/17/97 10:48:52 AM","Nancy","I have no idea if these are high or low!"
"8/17/97 10:48:55 AM","Ron","just checking, as our motion should include information."
"8/17/97 10:49:19 AM","Nancy","Ron, correct. Budget are the best guess, if actual figures are not known, and then get revised with actual."
"8/17/97 10:49:28 AM","Nancy","Any revisions would, of course, come before the board."
"8/17/97 10:49:31 AM","Diana","nancy--i think there are places where you an get domain name cheaper--"
"8/17/97 10:49:55 AM","Nancy","The projects I listed have all been mentioned at one time or another."
"8/17/97 10:50:01 AM","Nancy","The costs are just a swag."
"8/17/97 10:50:17 AM","Nancy","I anticipate our budget to change a great deal as we become active."
"8/17/97 10:50:31 AM","Gerard","yup"
"8/17/97 10:50:38 AM","Ron","takes board approval to revise after we accept. this is a mistake that I made once. we should decide to check budget quarterly or semi annually to see if revisions are needed. but variances cannot be calculated if you revise budget with each espenxe, and then it is difficult to see if a firm has followed its budget."
"8/17/97 10:50:53 AM","Nancy","Diane, up to date with InterNIC it is a fixed $100 for new domains, but this covers 2 years. It's $50/year"
"8/17/97 10:51:15 AM","Diana","ok"
"8/17/97 10:51:26 AM","Nancy","Ron, perhaps we should agree to review quarterly?"
"8/17/97 10:51:47 AM","Clipper","Sounds like a good idea"
"8/17/97 10:51:47 AM","Nancy","Oh, and if we get a grant we accept, THEN review the budget also!"
"8/17/97 10:51:47 AM","Ron","i would be willing to do that, or semi-annually, whatever the consensus is."
"8/17/97 10:52:08 AM","Gerard","Good thinking"
"8/17/97 10:52:24 AM","Ron","at first mor often will probably be necessary, due to our inexperience with our actual expenses. :)"
"8/17/97 10:52:30 AM","Nancy","I think quarterly, and then upon acceptance of a new grant. This is good coverage. If we feel less review is needed later, we can change it with a board vote :-)"
"8/17/97 10:52:49 AM","Diana","quartery is probaly the best bet to review also"
"8/17/97 10:52:57 AM","Clipper","So reveiw quartely and when we get a grant."
"8/17/97 10:53:00 AM","Ron","any other circumstances we need to require a budget review for, 1: quarterly"
"8/17/97 10:53:04 AM","Ron","2: upon grant reception"
"8/17/97 10:53:16 AM","Ron","any others?"
"8/17/97 10:53:17 AM","Nancy","Do I need to state that the expenses in Year 2 are not planned as yet, just put forth, no action planned"
"8/17/97 10:53:49 AM","Gerard","I think it's a good idea to review quartely"
"8/17/97 10:53:51 AM","Diana","put them in as a projected statement nancy"
"8/17/97 10:53:59 AM","Ron","I think what we have is sufficient, would rather see columns "
"8/17/97 10:54:27 AM","Nancy","If we move to accept this budget, we should include the fact that project and professional services are not actual plans, just hypothetical. I guess I don't know the word."
"8/17/97 10:54:43 AM","Diana","i'll take the currrent numbers a post the statements "
"8/17/97 10:54:50 AM","Ron","it is easier to do comparisons when labels are on left, with a column for each year in the budget."
"8/17/97 10:54:52 AM","Nancy","OK, Diane, projected statement it is!"
"8/17/97 10:55:16 AM","Nancy","Please consider that the 2 Year Budget has professional services and project expenses as a projected statement."
"8/17/97 10:55:30 AM","Ron","A budget is totally theoretical.. it is a tool to see how good you are at theorizing, and improving the accuracy."
"8/17/97 10:56:03 AM","Nancy","OK, Ron has asked that I modify the published budget to have columns for Year 1 and Year 2."
"8/17/97 10:56:30 AM","Nancy","Gerard, are Pat and Brand online via IRC?"
"8/17/97 10:56:34 AM","Clipper","That sounds good"
"8/17/97 10:56:39 AM","Diana","allrighty"
"8/17/97 10:56:42 AM","Clipper","Easy to look at"
"8/17/97 10:56:55 AM","Ron","yes, and check to see if costs are expected to rise or fall."
"8/17/97 10:56:57 AM","Gerard","no they aren't "
"8/17/97 10:57:27 AM","Nancy","I think we're about done discussin this and ready for a motion to accept with changes as discussed (year columns and projected statement title)"
"8/17/97 10:57:37 AM","Nancy","Ron, this would be a good motion for YOU to make :-)"
"8/17/97 10:58:17 AM","Ron","I move that we accept the budget presented to the board. It will be reviewed quarterly for needed adjustments. "
"8/17/97 10:58:21 AM","Ron","Motion #1"
"8/17/97 10:58:36 AM","Clipper","I second the motion"
"8/17/97 10:59:09 AM","Nancy","A motion has been made and seconded to accept the budget presented to the board, with quarterly review. All in favor say YES opposed say NO."
"8/17/97 10:59:11 AM","Nancy","Yes"
"8/17/97 10:59:16 AM","Diana","yes"
"8/17/97 10:59:17 AM","Gerard","yes"
"8/17/97 10:59:20 AM","Ron","YES"
"8/17/97 10:59:20 AM","Clipper","yes"
"8/17/97 10:59:25 AM","Nancy","The motion passes."
"8/17/97 10:59:43 AM","Nancy","The third item on the agenda is electronic sharing."
"8/17/97 10:59:51 AM","Nancy","This is on page 3 of the whiteboard."
"8/17/97 10:59:58 AM","Ron","I further move that a review will be required whenever an additional grant is accepted."
"8/17/97 11:00:05 AM","Nancy","Diane has mentioned that she uses Quicken SE."
"8/17/97 11:00:30 AM","Diana","yup-"
"8/17/97 11:00:31 AM","Nancy","I have a question. Can electronic sharing be done by others who DO NOT have Quicken SE?"
"8/17/97 11:00:40 AM","Ron","OK."
"8/17/97 11:00:42 AM","Nancy","If not, how expensive is this application?"
"8/17/97 11:01:01 AM","Nancy","Does someone second Ron"
"8/17/97 11:01:05 AM","Nancy","second motion?"
"8/17/97 11:01:25 AM","Diana","i secone that"
"8/17/97 11:01:30 AM","Clipper","I second ron's motion"
"8/17/97 11:01:37 AM","Ron","thanks"
"8/17/97 11:01:43 AM","Nancy","A motion has been made and seconded to review the budget whenever a grant is accepted."
"8/17/97 11:01:54 AM","Nancy","All those in favor say YES, opposed say NO"
"8/17/97 11:01:56 AM","Nancy","Yes"
"8/17/97 11:02:01 AM","Diana","yes"
"8/17/97 11:02:02 AM","Clipper","yes"
"8/17/97 11:02:02 AM","Ron","yes"
"8/17/97 11:02:05 AM","Gerard","yes"
"8/17/97 11:02:10 AM","Nancy","The motion passes."
"8/17/97 11:02:22 AM","Nancy","Diane, how much does Quicken SE cost, approximately?"
"8/17/97 11:02:24 AM","Ron","diana, can you explain a little about the sharing capability of this software?"
"8/17/97 11:03:14 AM","Diana","i got quicken se with my puter--it was already installed--but i'm sure that I could try and send the program to you guys"
"8/17/97 11:03:29 AM","Nancy","Most apps can share a file produced by the same app, like .doc .xls .ppt, but another app can't open it."
"8/17/97 11:03:52 AM","Gerard","that's right... "
"8/17/97 11:03:54 AM","Nancy","Diane, installed apps don't work that way, for sure!"
"8/17/97 11:03:55 AM","Diana","let me check what the extentions are on my files--brb"
"8/17/97 11:04:12 AM","Nancy","I think we may need to table this item until the next meeting."
"8/17/97 11:04:47 AM","Clipper","Quicken -Pro has the ability to forcast."
"8/17/97 11:05:02 AM","Ron","i may have access to quicken se, if not i beleive it is around $100 most times i see advertised"
"8/17/97 11:05:34 AM","Ron","I also would be happy to donate my version of peachtree to the organization, i dont use it, but own it."
"8/17/97 11:05:49 AM","Clipper","Is not Quicken Se, basquicken?"
"8/17/97 11:05:50 AM","Diana","i have microsoft money too--does anyone have that?"
"8/17/97 11:06:02 AM","Ron","yes, i have that also"
"8/17/97 11:06:16 AM","Gerard","I don't have it.. I know it's for sale in the Netherlands but i don't have it"
"8/17/97 11:06:26 AM","Diana","the extentions are *QDT"
"8/17/97 11:06:31 AM","Nancy","If Qicken SE is $100, then we can include this in the budget for Ron if he can't read Diane's files."
"8/17/97 11:06:31 AM","Clipper","I beleive I have it"
"8/17/97 11:07:10 AM","Nancy","It looks like we should test the abillity to send and electronic statement to Ron and Clipper!"
"8/17/97 11:07:12 AM","Ron","we should actually check into a couple of programs made specifically for not for profits, I would reccomend ""American Fundware"" and ""MIP Fund Accounting"". probably something for a future year budget though, unless we do get a grant soon."
"8/17/97 11:07:12 AM","Clipper","Sounds like the best way to go."
"8/17/97 11:07:27 AM","Diana","what i can do--is do a capture of the quicken screens, make them images and send them"
"8/17/97 11:07:29 AM","Nancy","Any other officer that needs a copy can expense this, I would think."
"8/17/97 11:07:55 AM","Ron","Diana, if all we need is reports, you can check your programs export capablilites most programs will export to MS Office Apps, like excel, word, etc."
"8/17/97 11:07:59 AM","Nancy","Diane, see if Quicken SE has the ability to EXPORT to .xls EXCEL or some other such universal app."
"8/17/97 11:08:11 AM","Diana","ok--let me check "
"8/17/97 11:08:13 AM","Nancy","Many programs do, and EXCEL is on everyone's computers."
"8/17/97 11:08:21 AM","Ron","yup"
"8/17/97 11:08:23 AM","Gerard","yup"
"8/17/97 11:08:40 AM","Nancy","Should we table this item until the next meeting? Seems we have some research to do."
"8/17/97 11:08:40 AM","Ron","just installed office 97 last month. :)"
"8/17/97 11:08:50 AM","Clipper","Have Exell"
"8/17/97 11:08:52 AM","Ron","yup, we sure do, "
"8/17/97 11:09:00 AM","Clipper","yes"
"8/17/97 11:09:15 AM","Nancy","Gerard, do we have Pat or Brand online yet? If so, let them know our discussion to this point on this last agenda item."
"8/17/97 11:09:21 AM","Diana","yup--i can export"
"8/17/97 11:09:25 AM","Ron","nancy is your budget in excel?"
"8/17/97 11:09:33 AM","Gerard","they aren't oline"
"8/17/97 11:09:33 AM","Nancy","YEA! Exporting may be the answer!"
"8/17/97 11:09:44 AM","Nancy","Does the export include EXCEL, and .xls format??"
"8/17/97 11:09:52 AM","Ron","yup, she can set up a packet, zip it, and e-mail it to us."
"8/17/97 11:10:00 AM","Diana","it includes gif, jpg, and xls"
"8/17/97 11:10:07 AM","Nancy","We're HOME!"
"8/17/97 11:10:09 AM","Diana","i'll do that ron"
"8/17/97 11:10:09 AM","Gerard","sounds good"
"8/17/97 11:10:13 AM","Ron","excellent."
"8/17/97 11:10:29 AM","Nancy","Now all we need is a motion to electronically share either in .xls format or the Quicken format for those who have it,"
"8/17/97 11:10:37 AM","Nancy","Does someone want to make this motion?"
"8/17/97 11:10:38 AM","Ron","i will also get quicken se soon, so that you can send backups her for secondary storage."
"8/17/97 11:11:02 AM","Ron","Is a motion necessary, or is this just board discussion?"
"8/17/97 11:12:45 AM","Nancy","I think we should vote on this as the offical accounting sharing method, etc."
"8/17/97 11:13:09 AM","Diana","let me check into other programs first nancy"
"8/17/97 11:13:15 AM","Nancy","This is a universal method, and anyone including IRS can use .xls"
"8/17/97 11:13:30 AM","Nancy","What other programs do you want to check, Diane."
"8/17/97 11:13:48 AM","Ron","I move that we allow the treasurer to utilize her personal copy of quicken se for keeping the books, and will share statements with the board by exporting the statements and then e-mailing them to the audit committee and any other interested board members."
"8/17/97 11:14:02 AM","Gerard","wait a moment .. Clipper left ... i guess he is having problems with the connection "
"8/17/97 11:14:06 AM","Nancy","Beautiful motion, Ron!"
"8/17/97 11:14:17 AM","Nancy","Does someone want to second the motion?"
"8/17/97 11:14:25 AM","Ron","if you think it is necessary ;) "
"8/17/97 11:14:26 AM","Diana","i second ron's motion"
"8/17/97 11:14:40 AM","Nancy","Gerard, I still show Clipper on!"
"8/17/97 11:14:45 AM","Gerard","okay... "
"8/17/97 11:14:47 AM","Diana","me too"
"8/17/97 11:14:52 AM","Ron","he just came back"
"8/17/97 11:15:05 AM","Gerard","i thought he left.. But he is still on"
"8/17/97 11:15:26 AM","Ron","i got a request for him to re-join about 2 mins ago."
"8/17/97 11:15:28 AM","Nancy","A motion has been made and seconded to accept the electronic sharing method presented. All in favor say YES, opposed say NO."
"8/17/97 11:15:31 AM","Nancy","Yes"
"8/17/97 11:15:34 AM","Ron","yes"
"8/17/97 11:15:34 AM","Diana","yes"
"8/17/97 11:15:38 AM","Gerard","yes"
"8/17/97 11:16:14 AM","Nancy","I think Clipper may not be receiving, as he is not voting, but a quorum of 4 votes passes anyway. The motion passes."
"8/17/97 11:16:31 AM","Ron","i just icq'd him he is still online"
"8/17/97 11:16:32 AM","Gerard","just got a message on ICQ from Clipper, he can't type"
"8/17/97 11:16:41 AM","Ron","cool"
"8/17/97 11:16:56 AM","Nancy","Are there any other items to be discussed at this board meeting? Please remember that presentations must be made available to the board 3 days before a meeting, per our Bylaws."
"8/17/97 11:17:16 AM","Ron","I move that we adjourn this meeting."
"8/17/97 11:17:35 AM","Nancy","Diane, I just wanted to remind you to send my your electronic signature. If you need me to re-e-mail this to you, I will."
"8/17/97 11:17:43 AM","Nancy","Does someone second Ron"
"8/17/97 11:17:50 AM","Nancy","'s motion to adjourn"
"8/17/97 11:18:01 AM","Diana","okey nancy, will do"
"8/17/97 11:18:39 AM","Nancy","Does someone second Ron's motion to adjourn?"
"8/17/97 11:18:54 AM","Diana","i second that"
"8/17/97 11:19:32 AM","Nancy","A motion has been made and seconded to adjourn. All in favor say YES, opposed NO>"
"8/17/97 11:19:33 AM","Ron","yes"
"8/17/97 11:19:34 AM","Nancy","Yes"
"8/17/97 11:19:42 AM","Diana","yes"
"8/17/97 11:19:53 AM","Gerard","yes"
"8/17/97 11:20:03 AM","Ron","wb clip"
"8/17/97 11:20:13 AM","Nancy","The motion passes. The meeting is adjourned."