Minutes for the regular National Finance Committee meeting January 7, 2014.<br><br>Meeting convened at 8:41 PM (ET) a<br />
quorum being present, the Chair and Secretary being<br />
present.<br>----------------------------------------------------------------------------------------------------<br>Attending:<br />
Jim Boyd, John Cromshow, Marcus Jetter, R. Paul Martin (Secretary), Tony Norman, Michael Novick, Tracy Rosenberg<br />
(Chair), Manijeh Saba, Richard<br />
Uzzell.<br>----------------------------------------------------------------------------------------------------<br>Agenda:<br><br>1.<br />
Roll Call<br>2. Approve Agenda<br>3. Next meeting date<br>4. Approve Minutes<br>5. Budget to Actual Reports - KPFA,<br />
KPFT, WPFW<br>6. Chair’s Notes re: Management Letter/Audit, Committee Realignment, WBAI<br />
Lease<br><br>----------------------------------------------------------------------------------------------------<br><br>Motion:<br />
(Tracy Rosenberg) “To approve the agenda.” (Passed without objection)<br><br>Previous notice was given by the WBAI<br />
Treasurer to bring a motion at the next meeting regarding SCA fees related to WBAI’s transmitter.<br><br>Next meeting<br />
date 8:49 PM (ET)<br><br>The committee discussed changing the next meeting date. Not enough members wanted to change it<br />
so the committee’s next meeting date remains January 14, 2014.<br><br>Approve Minutes 8:55 PM (ET)<br><br>Motion:<br />
(Michael Novick) “To approve the minutes of the November 26, 2013, meeting.” (Passed without<br />
objection)<br><br>Motion: (R. Paul Martin) “To approve the minutes of the December 10, 2013, meeting” (Passed<br />
without objection)<br><br>Budget to Actual Reports - KPFA, KPFT, WPFW 8:56 PM (ET)<br><br>KPFA and WPFW were not ready<br />
to make reports at this meeting. They will report at the next meeting.<br><br>KPFT - The station’s first on-air fund<br />
raiser of FY13 came up short, and they did not recover from that. In Q4 they had a Summer drive and tried to compensate<br />
for the lack of CPB money, and for not receiving their real property tax refund. They added $53,000 for CPB and $30,000<br />
for the tax refund to the budgeted goal, and come in severely short. They matched the amount in the FY13 budget but<br />
didn’t make up for the CPB grant and the tax refund. Listener Support came in about $90,000 short. In Q4 their golf<br />
tourney came in lower than expected. In total the station came in about $120,000 short for FY13. They still haven’t<br />
gotten the tax refund. There were also transmitter problems. The station shares a Business Manager with WBAI and last<br />
year they were paying the Business Manager’s entire salary. This will be partially corrected going forward. The<br />
station needs to make adjustments for FY14.<br><br>The committee discussed the report. The Chair said that she’d been<br />
told that the CPB money should arrive in January.<br><br>Chair’s Notes re: Management Letter/Audit, Committee<br />
Realignment, WBAI Lease 9:10 PM (ET)<br><br>The Chair reported that a two year lease at 388 Atlantic Ave. in Brooklyn,<br />
NY is in the hands of the WBAI LSB. If the LSB consents to the lease it’ll likely be signed.<br><br>The committee<br />
discussed it’s membership for 2014. The Chair will term out and will not be on the committee after the PNB in-person<br />
meting in February.<br><br>Motion: (Manijeh Saba) “That Tracy Rosenberg continue as Chair of the NFC until the PNB<br />
elects new Directors to the NFC for 2014, and the committee elects a new Chair at the first meeting of the new NFC.”<br />
(Passed without objection)<br><br>The Chair reported that the Management letter was delivered to the Audit Committee, it<br />
should be delivered to the NFC too. She suggested that the NFC review it and have cross committee dialogue with the<br />
Audit Committee about who does what with it. The committee discussed this.<br><br>The KPFK Treasurer wanted to amend his<br />
report from the last meeting. The balance sheet he was given was incorrect. The equipment purchases were given as<br />
positive figures instead of as expenses. Correcting this results in a $200,000 deficit for FY13. The KPFK Fall on-air<br />
fund raiser brought in a nice amount of money but a lot of that went right to premiums. Most of KPFK’s FY14 premiums<br />
budget has been spent. Ongoing problems of the payroll and transmitter are still there.<br><br>The committee discussed<br />
the issue of premiums and the need to strengthen programming.<br><br>The committee discussed the lack of financial<br />
reports and having General Managers attend the NFC meetings.<br><br>Motion: (Richard Uzzell) “The NFC requests that<br />
the PNB direct that all station General Managers shall report to the NFC quarterly about the performance of their<br />
station’s current Budget, and if the Budget becomes unbalanced into the ‘red’ that the General Manager shall<br />
propose immediate changes that will bring the Budget back into balance.” (Passed without objection)<br><br>The<br />
committee discussed getting someone from the National Office to attend the next NFC meeting, since the CFO probably will<br />
not attend.<br><br>Adjourned 10:37 PM (ET)<br><br>Submitted by R. Paul Martin, Secretary.