Meeting Notes/20110524

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General Meeting of the Membership
- 5/24/2011, 7:30PM

Finances

Almost everyone paid.

We have taken in ~$2200 this month. We have spent $1780. Expenses went up because of the A/C (summer is here!) and insurance expenses (for new stakeholder members). We expect to have $5000 in the bank at the end of the month. That will make our three month buffer!

Laser Cutter

The committee (Weston Jeff, Martin, Danny and Matt Mancuso) met today to discuss options. Conclusion:

Universal Laser Systems will rent us a laser cutter valued at $22,000 for $300/month for a 12-month committment. Specs: up to 2400 dpi, 32" x 18" cutting area (bigger than any other option being considered), 44" x 39" by 36", weighs 300lbs. It would live upstairs. We would not have to worry about maintenance or repairs.

The fine print: If we want to terminate the lease, we have to find someone to take over payments, or we are responsible for payments until they find a new renter. We will only have to cover it with insurance for negligence. Rest assured that the LLC members will be going over the rental agreement with a fine tooth comb.

The vote is to ask the board to decide on whether or not to rent the laser cutter. The quorum of members present voted unanimously in favor of this. The board will meet within the next 24 hours for a final decision.