Page 21 - April JSF Report

EXECUTIVE & FINANCE COMMITTEE MINUTES (DRAFT) March 19, 2023
Members Present: Malcolm Macleod, Sherry Salway Black, Bill Corwin, Bea Awoniyi, Robert Krause Other Present: Dick Krause, Sharon Wood
Malcolm chaired the meeting.
1. Approval of Minutes of February 6, 2023 meeting
Malcolm asked that the Minutes reflect that he had expressed his regret for not being at the meeting. Minutes were approved with the sentence “Bobby explained that Malcolm expressed his regret at not being able to attend this meeting so soon after his surgery” added.
2. Matters arising from the Minutes
There were no matters arising from the Minutes.
3. Draft 2023 budget
Dick explained that items highlighted in blue were amounts that had changed since the Committee reviewed the budget in February.
The proposed budget is an 11.07% increase over the 2022 budget. Over 1⁄2 of the $302,738 increase is in travel. Bobby noted that actual travel expenses in 2022 had exceed the budget not only because of more travel, but also because of travel to the west coast, and the substantial increase in the cost of travel.
The new Financial Controller has been hired with a start date of June 19th. With the Board’s approval, Bobby is proposing that Dick remain the CFO through July 31st, then be retained as a Financial Consultant. There would be a five week overlap of salaries. The pay for a Financial Consultant is reflected on Line 55, pending Board approval.
Line 65 is for a potential new Indigenous Programs Consultant with the intention of Rick remaining for a period of time.
When asked, Sharon explained that Line 131 is for the platform that publishes our Newsletters.
Line 146 (Total Grants) had not been updated to the most recent minimum grant distribution requirement which had been approved by the Grant Program Committee.
The Committee discussed potential issues surrounding an employee (Dick) being moved to a consultant position, noting that the IRS might take issue depending on the language of the job description or engagement letter. Bobby said that the exact terms of Dick’s consulting agreement, including what benefits, has not yet been negotiated, pending Board approval of the consulting position. It was agreed that pending Board approval of Dick’s consulting position, the terms and language of Dick’s agreement would reflect these considerations.
The Executive Committee agreed to recommend the approval of the proposed 2023 Budget.
4. Upcoming meetings:
September 11, 2023 – Chicago, Illinois
There being no other business, the meeting was adjourned at 1:55 p.m. Respectfully submitted this 27th day of March, 2023.
Sharon Wood R. Malcolm Macleod Office Manager Committee Chair
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