Finance Committee Meeting - August 8th, 2021
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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.
- 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.
- Dave V. is assigned the task of documenting the process for Sale of Assets based on what we did to retire the Gigabot.