Members present: Peggy Littrell, Mike Bagley, Keith Batchelor, Griffe Baute, Bill Fortune, Jessica Sutherland, Patrick Wesolosky, Dwayne Edwards, Shawn Hokanson, Sandy Duff, Mindy Taylor, Jaime Bagley, Malcolm Barrett, Christian Erickson
Minutes from last month approved
National Report- National Summit coming up in late September, organized by Ray La Hood on distracted driving.
VP- MBTF met with the Mayor, Keith Lovan, and Kenzie Gleason from LFUCG, discussed having a link to Bike Lexington on the LFUCG website. Bike Valet effort may be continued at 2nd Sunday and Bike Prom.
$56,487.53 in the bank.
Financial oversight committee- report of the committees work was presented by Mindy Taylor, and is included below:
BCC Financial Review Committee Report September 2009
Meetings of August 26 and Sept. 8 2009
Members present: Mindy Taylor, Sandy Duff, Jane Shropshire, Jeffrey Pearson
This committee is meeting at this point to accomplish several goals. First, to set up periodic reviews of the financial records of the BCC as kept by the current Treasurer including but not limited to the bank statements, canceled checks, and receipts from which reimbursements or bills were paid. Reviews will help this committee formulate guidelines for Board approval which will make reimbursements consistent, fair, and accountable.
Second, this committee has used the report RECOMMENDATIONS FOR PUBLIC AND NONPROFIT BOARDS produced by Crit Luallen (the Auditor of Public Accounts for Kentucky) as a starting point for further recommendations for the BCC Board to consider concerning such things as inventory, monitoring fixed assets, conflict of interest, and gift policies.
The following are the recommendations this committee believes will maintain and in some cases improve the financial well being of the Bluegrass Cycling Club.
1) A financial review of all documents pertaining to BCC finances should be done quarterly by the financial review committee. We recommend such reviews for April/July/October/January. The results of that review should be presented to the Executive Board and placed into the minutes of the meeting. The Board should vote to accept or deviate from any committee recommendations with the results of that vote being placed into the meeting minutes. (terms and service on the Financial Review Committee are being considered in the new By-Laws so we leave discussion of that to the By-Laws Committee)
2) A written, website-published reimbursement policy should be implemented whereby ride leaders, Board members, Officers, or general members will be reimbursed for expenses related to Club activities only if the activity potentially benefits the Club rather than the individual, and only if they submit the proper documentation for reimbursement. This committee would like to see a simple form created which could be downloaded and printed or filled out online to be submitted to the Treasurer. It would detail the particulars of what activity required the expenditure, what member incurred the expense, and include all receipts pertaining to the expenditure. (this committee will work on creation of the form if the Board so desires) Perhaps any reimbursement over a certain amount would need to be reviewed by the Finance Committee before being paid. (this need not wait until a quarterly meeting-brief reviews could be done via e-mail as frequently as necessary)
Reimbursements could include such things as snacks/drinks/ice purchased by ride leaders or paper/ink used by them on maps, mileage driven to a summit or activity at the Board’s request (and reimbursed at the Federal rate), gifts to individuals who have in some way aided the club (helped render aid during an accident, etc.), fees for LCI training for the individual who is the Club Education Chairperson, flowers for a deceased with close club ties, etc. All of these examples would be covered by submission of the “Reimbursement/Gift Form” mentioned earlier along with pertinent receipts.
A written policy on all of the aforementioned maintains a clear, consistent approach for all members and it gets the Treasurer “off the hook” by giving them the ability to say “look, here is the written policy.” Until the Reimbursement/Gift form and proper receipts are filed the request cannot be sent to the finance committee for review.
3) Any real or perceived conflict of interest by a Board member or Officer should be duly noted in the minutes and that person should refrain from voting or influencing voting on any subject related to the conflict. This could arise from individuals who serve on multiple boards, etc.
4) A stated minimum cash reserve might be prudent. Historically the treasury has reserved enough cash on hand to produce the Horsey and pay for it without dependence on entries to do so. This has been $25,000 for several years. A stated reserve could be established and require an override by majority Board vote to change it.
5) We highly recommend the purchase of initially one cash register to be used as a trial run at the RRR and then expanded to 2 or 3 for HH. It is unwieldy and unsafe to handle all of the cash at HH in “tackle boxes”. A cash register that is pre-set for each retail item and each HH option will automatically track total sales of each item and charge tax as needed. We will no longer have folks telling Pete they paid for a dorm when they did not. We will have an easier time tracking inventory of items we sell.
6) We highly recommend we inventory items we sell. Jerseys, socks, hats, water bottles can be inventoried at the end of 2009 and then a master spreadsheet can track their whereabouts and if payment has been made. If we give 10 bottles to Joe to take to a ride to sell, they can be “checked out” to Joe on the master sheet and he will be responsible for them until he turns in the cash or the unsold bottles. We will know when to reorder items and know what items need a “close out sale”. This committee can assemble a sample/draft spreadsheet if the Board so desires. A review of this inventory sheet can be conducted as part of the quarterly committee meetings. Giveaway of items would still be perfectly acceptable as long as the authorizing Officer is noted on the spreadsheet as well as to whom the item was given.
7) We highly recommend a means to track assets like laptops. A master sheet of the whereabouts of IT items could be maintained by the Secretary and a yearly inventory could be done.
8) We recommend an inventory of large storage unit items soon after Horsey and at the end of the year.(tents, tables, etc.) It should be noted that several shipping cases for bicycles were purchased by the club, put in storage, and have not been seen again. Perhaps a better system for permitting access to the storage unit can be established. If large, expensive items are stored with an individual member it should be tracked on the spreadsheet as to who has possession of the items. Missing items are not necessarily stolen. They may just be in a perpetual state of forgotten storage.
9) Transparency builds trust and a dependency on volunteers makes trust in our Board and its decisions imperative. This committee recommends that whenever a Board member has a personal reimbursement request that it be presented to the Financial Review Committee before reimbursement to avoid the appearance of any inappropriate allocation of funds. We further urge the Board to include all decisions about any financial matters in the minutes of the meeting for easier referencing and “ownership” of the decision.
This committee believes this Board and Officers have gone above and beyond the call of duty to serve this Club and its members. We see greatly appreciate the leadership they have demonstrated and see our purpose as insurance that what this Board has begun is continued into the future with a secure financial foundation.
Respectfully submitted:
Mindy Howard Taylor, DVM
Sandy Duff
Jeffrey Pearson
Jane Shropshire
Motion to purchase a cash register for use by the club treasurer at club events was put up by Bill Fortune and seconded by Mike Bagley, this motion passed.
Board members will review the recommendations and vote to accept all or some of them at the next scheduled board meeting.
Reports-
Website- A motion to pay Nedim $599 for the year for his services on the website was forwarded and passed.
Race- nothing to report.
Ride- 86 rides completed in August, 86 rides scheduled or completed in September, 39 rides scheduled thus far for October, 401 rides have been led for 131,181 miles, rides are starting in Lawrenceburg. Shawn Hokanson is willing to put on a time trial series next spring. Motion to investigate time trial series for next year passed.
Nominating- None
Events-
HH- Dwayne is looking for Volunteer and Sag Coordinators, the first coordination meeting will be Oct. 6 at 7pm at Dwayne Edwards house.
RRR- Food will be provided by the same caterer as last year. Designs for the shirt are in Peggy’s possession. Patrick is still looking for volunteers. He is trying to get in touch with Cliff Cantrell to inquire about a variance for Nada tunnel. 5 people have signed up so far. Motion to give a stipend for volunteers to stay at the Park Lodge if they volunteer both days passed.
Membership- 524 members currently, compared to 526 at this time last year.
Advocacy- None
Social- Labor Day picnic went well despite the downpour of rain. The Swap meet was also a success despite the weather conditions, items sold included a complete bike, a set of Mavic wheels, a seat, and various cycling clothes.
Education- Nothing to report.
Philanthropic- Tri for Sight bike course will be sponsored by the BCC again this year, the bike giveaway effort will be continued this year and headed by Malcolm Barrett with assistance from Dwayne, a charity ride benefitting firefighters at Firehouse Subs was debated, there was discussion on the clubs intention to continue the partnership with the Fayette County Red Cross on the Ride for the Red for 2010.
By-laws- the next meeting will be 9/10 at Terio’s house at 8:00 pm
2nd Sunday- a rectangle bordered by Mill, Short, DeWeese, and Main streets will be closed from 2pm to 6pm on October 11. There will be booths from non-profit and for-profit organizations, and various activities like bike polo, cornhole etc. The BCC will man the principal water station in the main courthouse plaza, this should provide an excellent opportunity to publicize the club. The club will bring water jugs, a white hose and paper cups for the water booth.
Bluegrass Alliance Ride- see details on the ride calendar and the forum, a motion to contribute $1500 to the ride for insurance, food, and other needs passed.
Meeting adjourned at 9:20pm. Next meeting will be held on October 14, 2009 at 7pm at Russell Capital Management, 476 E. High Street.
Minutes recorded by Terio Sutherland.
| < Prev | Next > |
|---|
Overcast 34 oF
