Finance Committee Meeting - August 8th, 2021

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Finance Committee Meetings
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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 We will propose a VOTE for $300 to pay for this engagement. The engagement objectives are described here 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.