Finance

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Hive13 Manual
Governance: Committees: Procedures: Membership: HOWTOS: Legal:

Chairperson

Treasurer - Jim

Responsibilities

This committee is responsible for the Hive13 finance operations under the supervision and delegation of the treasurer.

The goal of this committee is to spread knowledge of how to manage the Hive13 finances over more people and assist the treasurer in carrying out their duties.

Meetings

Finance Committee Meeting - August 8th, 2021



Minutes of 2021/08/24 meeting

  • Attending: Jim D. Dave V. John C.
  • The best use of our time is to engage a QB Pro Advisor to guide the implementation choices
  • Jim will continue to keep the 'Books' as he has done until we are satisfied with QB
    • The Finance committee has prepared a two year forward looking executive summary Budget to help make plans for CAPEX. The Budget will be updated as more is learned.
      • There was extensive discussion of what a minimum planned bank balance would be. Reasons include: Life rule: Keep 6 months of expenses in the bank And Hive13 equipment is essentially self insured.
      • CAPEX = Capital Expenses = Spending for physical assets, such as buildings, equipment, machinery, and vehicles.
  • Dave V. is assigned the task of documenting the process for Sale of Assets based on what we did to retire the Gigabot.