Meeting Notes/20121204

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OUR FIRST MEETING IN OUR NEW LOACTION!

12/04/2012

Called to Order at 7:30 PM

Budget for 2012 Q4 Oct-Dec

This budget was amended during the Quarterly Board meeting for Q4.

tl;dr for November

$5270 billed, $4480 paid

There are $105 of unpaid hackerspace dues from October. The members who have not paid are:

  • Jared Tennant
  • Vincent Musgrove

There are $790 of unpaid hackerspace dues and Co-Op dues from November. The members who have not paid are:

  • Jared Tennant
  • Vincent Musgrove
  • Aaron Reed
  • Matt Mancuso
  • Chris McLaughlin
  • Andy Howell
  • John Berlakovich
  • Richard Clark
  • Tom Davidson
  • Matt Ludlum

We have taken in our first batch of C1 round funding! As of December 1st, we will have received $18,600 which is going into the general fund.

Subtracting the minimal buffer leaves $8731 in the General Fund for expenses related to moving into a new space ( 10-15-2012 )

Monthly Income

The current member rates are as follows, as we have completed our Co-Op conversion:

  • To join the ATX Hackerspace co-op, you will need to purchase a $100 share. There are three ways to do so:
    • Pay in full, receive your voting rights and hackerspace membership benefits immediately
    • Pay in 12 monthly installments by signing up for a yearly hackerspace plan, and receive voting rights and benefits immediately.
    • Pay in 2, 5, or 10 monthly installments as a layaway, and receive voting rights and benefits when you complete your payments.
  • $75/mo will be the Standard hackerspace month-to-month rate
  • $50/mo ($25 discount/mo) is applied if a member signs on for Automatic Payments
  • $30/mo are the Reduced Rate hackerspace dues, which requires the consent of the Board.
  • $150/mo is the Standard rate for a Co-Working desk add-on
  • $10/mo is the Standard rate for a 2'x3'x3' storage area add-on
  • $50/mo is the Standard rate for a 4'x4'x4' pallet storage area add-on

As of Nov 27th, we have billed $5270 of which $790 is owed.

Members

Total Membership

We have 81 members for November

Co-Op Members

We have signed up 34 Co-Op members for November

Patrons

We have 48 Patrons in November

To meet our Q4 (end of Dec) budget goals, we need to have the equivalent of 135 standard rate members on the books.

Expenses

ALL FUNDS ARE FROZEN UNTIL WE HAVE MOVED INTO A NEW SPACE

Our monthly basic operating expenses while we're looking for a new space are $1650.

Our 3 month buffer is defined as "rent + insurance + utilities" which comes to $1300/mo and totals $3900.

We do not yet have an accurate estimate of monthly costs at a new location.

  • $400 ULS Laser Cutter lease, ongoing
  • $200 Advertising fund
  • $400 Uncle Bob's Storage
  • $160 Bank Fees
  • $150 Furnishings fund
  • $120 insurance policy till Dec
  • $65 Clear Wireless Internet
  • $60 FreshBooks Invoicing
  • $50 ADT security system
  • $45 Authorize.net

  • $1650 Current Expenses Total

Expenses starting Dec 1st

For moving into a new location, with the minimum contracted obligations, it is estimated our expenses will be as follows. This means all funds would be frozen, until more income becomes available to add money to them, but we could continue to raise funds via the C-1 investment round shares.

  • $3950 Rent until Aug 2013
  • $550 Austin Energy Estimated
  • $500 Time Warner Business Internet ( 50/5 )
  • $400 Laser Cutter Lease
  • $160 Bank Fees
  • $130 Insurance Policy
  • $85 Garbage and Recycling
  • $167 12-month amortized ADT Pulse Security System
  • $65 Clear Wireless Internet
  • $70 FreshBooks Invoicing
  • $50 ADT Security System Service Fee
  • $45 Authorize.net

  • $6172 Expenses + Rent

One Time Expenses

Nov - $15561

  • Leslie Pearson LLC for $750, for the October tax preparation
  • $49 in November, to cover the insurance for Das Pflugerhaus
  • refund to the Co-Op members of $2100, to return money advanced for Dessau Co-Working
  • $750.18 which was used to purchase 1000 blinkenbat boards for unobtanium
  • $1309 charged to our credit card, for the ADT Pulse Pro alarm system
  • $10,603 from our checking account, for our first month's rent and deposit on Dessau

Balances

Our total balance assets at this time are $28014 ( 11-27-2012 )

  • ($1309) balance on the company credit card ( $2000 credit line )
  • $9294 in our Bank of America account
  • $18600 in C1 Funding
  • $120 in petty cash

Funds

The various funds we are saving have the following balances (against the total assets), all are currently frozen

  • $3005 SawStop Fund (Funded)
  • $1130 Tool Fund
  • $1100 Furnishings
  • $950 Advertising

Profit / Loss

If we subtract the pre-allocated funds and expenses from the total available balance assets, we have $21829 left.

Subtracting the buffer leaves $3313 in the General Fund.

Co-Op and a new Investment Fund

With the conversion to an LLC Co-Op, we will be entering an investment phase. We need more money to:

  • Build our new 3 month buffer, which will be ~$22,000
  • Afford more than just a basic "shell" build-out of the new space.
  • Purchase new chairs, desks, and furnishing above our $1100 budget
  • Afford events, outreach, and more!
  • Install a new machine shop, purchase better and more equipment
  • Purchase HIGH SPEED INTERNET at the new space, like fiber, or high speed business cablemodem

We're looking to raise $30-50k. The way this will be done is through sales of series of non-voting stock in the new Co-Op (Series C).

There are 314 shares left in the C1 financing round.

Permits

  • Getting permits takes several weeks. (6 to 9)
  • We don't need a sprinkler system, but we will need fire suppression in certain rooms.
  • We will be getting a certificate of occupancy as quickly as possible.

Moving and Buildout Costs/Budget

  • [VOTE] Should the membership approve $1000 for move-in costs? (Martin)
    • This vote is moot since the vote to create the Moving budget happened back in September.
    • $300 has already been spent on:
      • Approximately $150 for the moving truck
      • a few supplies for the new space (trash cans, shop brooms, mop, etc.)
      • $95 to the electrician for fixing the power.


  • [DISCUSS] Build-Out Budget (Martin)
    • [Accurate Floorplan] viable?
    • Vinyl Composite Tile ($0.73/sqft@home-depot)
    • ADT Pulse Pro alarm ($1250) - why we got this particular system
    • Open discussion about getting the floor scraped, sanded, and/or polished.
    • We are looking for somebody to head up the project of getting the floor project organized.
      • Matt Mancuso will organize and start in January


  • Marshall is working with a company that creates an accurate floor plans.
    • If the service costs more then $300

Vote Testing and Agenda Items

  • [DISCUSS] Vote Testing (resubmitted)
  • [DISCUSS] Agenda Item Organization


  • Current process
    • Person puts an item on the Agenda Page on the Wiki
    • Secretary Announces Agenda 24 hours before the meeting
    • Meeting happens


  • Proposed Process
    • Person announced their proposed item on the Members List
      • This is for items that involve something that needs a vote, not announcements, etc.
    • Somebody posts and 2nds the Agenda Item
    • The Director of Administration (Secretary) or other Board Member (if DoA is not available) and that Board member pins the Discussion
    • Item goes on the Agenda


Class Schedule Organization

Evelyn Nelson will organize the classes until we get a Director of Education


Elections

These positions are available for nominations:

  • Executive Director
  • Director of Operations
  • Director of Administration
  • Director of Education
  • Director of Facilities

Process

  • Taking in CVs and Cover Letters
  • Polling Membership for questoins
  • 1 on 1 Video Interview which will be posted
  • A meeting with the member-owners where they can answer questions from the audience and then a vote


Setting Up Temporary Class Space

We have a room in the current layout that could be used for a Class, but we need to figure out liability

Hackerspace 101 Class

  • There is a proposal to Make this class mandatory for full member privileges.
  • Class will be scheduled once a month to start
    • Emergency Sessions of the Class can and will be held if we get a new members early enough in the month
  • There will be a standard Power Point Deck and talking points
  • Instructors and Alternate-Instructors will be trained and cleared to give the class
  • Then the number of times per month the class is held will be revisited.