Minutes for the regular National Finance Committee meeting September 24, 2013.<br><br>Meeting convened at 8:37 PM (ET) a<br />
quorum being present, the Chair and Secretary being<br />
present.<br>----------------------------------------------------------------------------------------------------<br>Attending:<br />
Jim Boyd, John Cromshow, R. Paul Martin(Secretary), Tony Norman, Michael Novick, Tracy Rosenberg (Chair), Manijeh Saba,<br />
Raul Salvador (CFO), Richard Uzzell, Barbara Whipperman, also attending was WBAI General Manager Berthold<br />
Reimers.<br>----------------------------------------------------------------------------------------------------<br>Agenda:<br><br>1.<br />
Roll Call<br>2. Approve Minutes<br>3. Complete Review and Recommendation on WBAI FY14 Budget<br>4. FSRN<br>5. Scheduling<br />
of PRA and National Office<br />
Budgets<br><br>----------------------------------------------------------------------------------------------------<br><br>Motion:<br />
(Jim Boyd) “To approve the agenda.” (Passed without objection)<br><br>Approve Minutes 8:43 PM (ET)<br><br>Motion:<br />
(Michael Novick) “To approve the minutes of the September 3, 2013, meeting.” (Passed without<br />
objection)<br><br>Motion: (Michael Novick) “To approve the minutes of the September 10, 2013, meeting.” (Passed<br />
without objection)<br><br>Complete Review and Recommendation on WBAI FY14 Budget 8:45 PM (ET)<br><br>The committee<br />
resumed its discussion of the WBAI FY14 budget proposal.<br><br>The CFO said that he had no solid information on<br />
WBAI’s CPB grant yet, but his guesstimate based on previous years is that WBAI should get a total of about $302,089 in<br />
combined restricted and unrestricted CPB grants.<br><br>There was a discussion about how WBAI could avoid late fees for<br />
its transmitter at the Empire State Building.<br><br>Motion: (Tracy Rosenberg) “The NFC recommends to the PNB the<br />
adoption of the WBAI Management draft FY14 budget with the following modifications: ‘Listener Support’ General<br />
Ledger #5000, Line 4 $1,566,235; ‘Grants - CPB/CSG’ General Ledger #5801 Line 19 to $225,205; ‘Grants - CPB<br />
(Restricted)’ General Ledger #5802 Line 20 to $73,000; ‘Professional Svc. Legal’  General Ledger #6530 Line 91 to<br />
$15,000; ‘Office Rent’ General Ledger #6610 Line 104 to $122,400; ‘Settlements - Legal’ General Ledger #6900<br />
Line 114 to $0; ‘LSB Election’  General Ledger #6595 Line 128 to $18,000; ‘Free Speech Radio News’ General<br />
Ledger #6702 Line 149 to $73,000; ‘Total Revenue’ Line 27 to $2,405,200; total expenses before ‘Shared Expenses’<br />
$2.010 million; ‘Central Services’ Line 47 to $305,416; surplus after capital to $9,805." (Passed without<br />
objection)<br><br>FSRN 10:58 PM (ET)<br><br>The committee discussed the FSRN layoffs and suspension of operations, along<br />
with the Pacifica financial issues related to FSRN. Pacifica owes FSRN about $190,000, about $75,000 to $85,000 of that<br />
is CPB grant money that Pacifica hasn’t received yet. About $125,000 goes back some time and was used for emergencies<br />
at stations. The FSRN fees had been more than the amount of the CPB grant but the FSRN contract has been downgraded<br />
twice since then. The latest negotiations have FSRN not being the recipient of the entire CPB grant. The reductions have<br />
caused FSRN financial stress. FSRN has been unable to develop adequate revenue streams outside of<br />
Pacifica.<br><br>Scheduling of PRA and National Office Budgets 11:12 PM (ET)<br><br>The committee discussed the<br />
scheduling of future budgets. The WPFW FY14 budget proposal will be considered on September 27. The Pacifica Radio<br />
Archives and National Office budgets should get done at the regular NFC meeting on October 8, and the Consolidated<br />
Budget after that.<br><br>Adjourned 11:20 PM (ET)<br><br>Submitted by R. Paul Martin, Secretary.