Board Meeting Notes 2025-11-04

Board Meeting Minutes
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Meeting Start:

Attendance

• Board Members

• Other Members

Agenda

• Building purchase
  • Earnest money paid - was check cashed? (anyone with chase access)
    • Yes, $25k cashed 10/31
  • Check on status of buyer info (james/carl)
  • Do we have a closing plan? (james/carl)
  • Building insurance (nick)
    • A quote was provided - do we want to sign?
  • How much cash to be paid at closing? Do we have it? Vote to unlock contingency fund?
    • $250,000 down, minus $25,000 earnest money, plus $14,762 closing costs ~ $240k?
• Membership audit (nick, jennie, sky)
  • We need to do one. How do we do that?
• 2026 BoD Elections (nick)
• 2026 budget
  • We need a group to figure out where we stand for closing out 2025 (including remaining area budgets) and purchasing the building
  • We need to use that info to decide what's reasonable for 2026. 1-6 month budget instead of full year?
  • We need to send out budget sheets and potentially schedule meetings with area hosts soon

Minutes

Committee Reports

Reports from Committees

Financial Report

• Chase Checking: $246,511.34
• Chase Savings: $10,016.79
• PEX:
• PayPal:
• Building Fund: $225,000
• Contingency Fund: $40,000
  • note that the Building and Contingency funds are within the bank accounts, not separate from them
• Available for Votes: -8,471.87
  • note that as of 9/2/2025, this is calculated as (Checking + Savings) - (Building Fund + Contingency Fund)
  • note that due to the accelerated closing on the building 12/1, the board would not actually spend any money on votes right now

Membership Report

• Number of Members:
• Quorum:

Freshdesk

Login link: https://pumpingstationone.freshdesk.com

New Business

• Building purchase
  • Earnest money paid - yes, $25k cashed 10/31
    • There is some discussion of bank balances and our treasury team
    • Carl fired Jennie and Ian, so there is no treasury team beyond our treasurer
    • Uwe says that we never reviewed our officer appointees earlier this year, and that the board members are all neglecting our fiduciary duty
  • James and Carl are not here to ask about the buyer info/closing plan
  • Building insurance (nick)
    • A quote was provided - do we want to sign?
    • There is a monthly payment option, so we don't have to cash outlay $10k immediately
    • David (our insurance agent) shopped the quote around and says it is a good deal
    • Board votes to sign the policy
  • We have made our last lease payment
    • "Hey guess what? We made out last rent payment. I should turn off auto pay." - Carl
    • Someone should confirm that this happens
  • Our taxes are also a thing
    • Due later this month
    • We think it's either sent or ready to be sent - Nick to check with Carl and/or James
    • Discussion ensues about PEX cards/receipts, taxes, and whether we should all just do our jobs better
  • How much cash to be paid at closing? Do we have it? Vote to unlock contingency fund?
    • Nicks estimate: $250,000 down, minus $25,000 earnest money, plus $14,762 closing costs ~ $240k?
    • Wingate says January 1st, 32k property taxes, plus potentially 2.5k in property for the remainder of 2025
    • Jennie says there is a secret $11k in Paypal
      • We should ask Carl to move money from Paypal to Chase
    • Jennie suggests cost cutting measures, like putting cleaning on hold or scaling it back
    • There is much discussion of budgeting, treasury, and related topics.
    • Nick says that he has loose plans to try and figure out budgety things, but it is difficult because he is not the treasurer.
      • We need a group to figure out where we stand for closing out 2025 (including remaining area budgets) and purchasing the building
      • We need to use that info to decide what's reasonable for 2026. 1-6 month budget instead of full year?
      • We need to send out budget sheets and potentially schedule meetings with area hosts soon
• Membership audit
  • Sky says we last did one in April, she has a spreadsheet that makes it easier
    • We will find a day to do this
  • There is a bunch of conversation about volunteer management for some reason
    • Nick and James have done some work towards this.
    • Nick suggests that no one wants to play bad cop, and that perhaps this is why we have 5 directors at large, so that people can pick up the tasks that are not assigned to the officer positions.
• 2026 BoD Elections
  • Nominations will close next tuesday, the 11th
  • There are 5 accepted nominations, one that is not accepted. Donzell says he'll reach out to the non-accepted
• Jennie forwarded an email from Industrial CNC host about an expense that would exceed his budget
  • Nick will answer the email

Votes

• Board votes to sign the insurance policy with monthly payment option
  • Vote passes