Any news from last nights meeting

[Shannon Whitehead]

#570212

Here are the notes that I took. My interpretation may differ from others so take them with a grain of salt.

*This is what I sent my members so some of this won’t apply to your region.
Recaps of tonight’s meeting:

Regional clubs can choose to defer their portion of 2021 dues and allow the National Club to use those funds. If they choose not to defer their dues, they will be paid to the regions in the upcoming month. Please respond to this email by October 4th with your vote Yay to keep club funds or Nay to defer the dues to the National Club. Results will be sent to the region on October 5th and if the majority is to defer, the National Club will be notified. Please note that no determination of how long these will be deferred and when we could expect to see these dues. The amount currently owed to our club is $1,197.50.

Confirmed that the vote last week regarding 2022 dues will be a $55 per member (regardless of level) to the region, less the credit card fees applicable for processing payments.

Board meetings will move to a regular monthly cadence beginning in November 2021.

The Board will be establishing task forces to focus on specific areas of cost reduction and revenue increases. This will be discussed in more detail at the next meeting. It wasn’t clear if these task forces will be limited to National Board members or open to any member interested.

The national club financials will be reported under an accrual basis going forward to reduce the risk of overspending because there is cash in the bank. Quote: “The losses were masked by the NVE4 money that was in the bank.”

Regional clubs will submit financials to the Board on an annual basis. (Not an issue or concern from our club.)

The National Club is considering opening additional bank accounts to separate Operating Funds from NVE funds, at the belief this will better help recognize issues as they arise. This consideration is being challenged by many, including me. If you can’t manage a single bank account, I’m not sure how adding to that will be helpful. As of yet, the actual cash balances (or any other balance sheet balances) have not been provided.

Of the $175k loan that was taken, there has been $40k utilized as payment of the credit card balance and payment to Beth who personally funded $20k of NVE because there was no cash in the bank.

[Shannon Whitehead]

#570213

Same here, meeting started at 1.10am in the morning here in the UK. I was fast asleep at that time in the morning.

[01sapphirebob]

#570262

snopro440 said:
Here are the notes that I took. My interpretation may differ from others so take them with a grain of salt.

*This is what I sent my members so some of this won't apply to your region.
Recaps of tonight's meeting:

Regional clubs can choose to defer their portion of 2021 dues and allow the National Club to use those funds. If they choose not to defer their dues, they will be paid to the regions in the upcoming month. Please respond to this email by October 4th with your vote Yay to keep club funds or Nay to defer the dues to the National Club. Results will be sent to the region on October 5th and if the majority is to defer, the National Club will be notified. Please note that no determination of how long these will be deferred and when we could expect to see these dues. The amount currently owed to our club is $1,197.50.

Confirmed that the vote last week regarding 2022 dues will be a $55 per member (regardless of level) to the region, less the credit card fees applicable for processing payments.

Board meetings will move to a regular monthly cadence beginning in November 2021.

The Board will be establishing task forces to focus on specific areas of cost reduction and revenue increases. This will be discussed in more detail at the next meeting. It wasn't clear if these task forces will be limited to National Board members or open to any member interested.

The national club financials will be reported under an accrual basis going forward to reduce the risk of overspending because there is cash in the bank. Quote: "The losses were masked by the NVE4 money that was in the bank."

Regional clubs will submit financials to the Board on an annual basis. (Not an issue or concern from our club.)

The National Club is considering opening additional bank accounts to separate Operating Funds from NVE funds, at the belief this will better help recognize issues as they arise. This consideration is being challenged by many, including me. If you can't manage a single bank account, I'm not sure how adding to that will be helpful. As of yet, the actual cash balances (or any other balance sheet balances) have not been provided.

Of the $175k loan that was taken, there has been $40k utilized as payment of the credit card balance and payment to Beth who personally funded $20k of NVE because there was no cash in the bank.

Thanks for the insight. Interesting that National now wants to see the regions financials. What good will that do? I’m not worried about it either necessarily either because we have nothing to hide.

[VIPER BAZ UK]

#570670

Was to late for me also…. we are 5 hours ahead of NY time

[Shannon Whitehead]

#570674

01sapphirebob said:
Thanks for the insight. Interesting that National now wants to see the regions financials. What good will that do? I’m not worried about it either necessarily either because we have nothing to hide.

Good point what will that do other than deflect the issue’s ……………..

[Shannon Whitehead]

#38272

Unfortunately I was not able to make it on the last nights board meeting. Any news or info?

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