Meeting 27/03/2020

Working groups Finance Working Group
1

Meeting minutes:
https://pad.riseup.net/p/iE4TbPErAEI6MIjBNl4n

Finance WG meeting 27/3/20
Attendance: Ben, Nzinga, Nina

Agenda

  1. Check in
  2. Bank account
  3. Budget
  • Expenses
    – Already ongoing
    – Wages
  • Income

https://testing.forum.cooperationbirmingham.org.uk/c/working-groups/finance-working-group/16

BANK ACCOUNT

  • Right now Ben is the one having access to the bank account (Punch Up one). Should we share the details?
  • Donations through bank account is not that good idea in order to avoid confusion to the concept/name
  • Paypal account / go cardless “subscription”,…
  • Cafe bank account? for Punch Up transactions for instance. It should be solved right now. Stripe account set up (Sean?)
    There is a saving’s cafe bank account that could be useful.

BUDGET

Expenses

Spreadsheet: https://docs.google.com/spreadsheets/d/1gVx51I483pSmkpOJDHrLDkLvqfWJsw4ymy-lvtMCKwI/edit?usp=sharing

  • £4200 operational
  • cash (we’ll lack in the beginning) although we can support if for now
  • Expenses: chefs would have a better idea on this /cost of delivery services associated / how much a meal costs?
  • Create a forecast with (1) meal cost + cost average for utility bills/delivery fuel/any extra cost to find out how many meals would we be able to deliver without more funding, so for how long.
  • Receipts “platform” where people can upload and pay them. Receipts should be fine, no claim form for now.

Wages

  • Agreement with cafe staff what do they expect to receive from their contributions to the solidarity kitchen
  • If they need extra 20 making up from the funding of solidarity kitchen we need to add it to the accounts
  • Other ways of funding in mind?

Income

  • gofundme the main one
  • we should promote the fundraiser page to get more money.
  • To show transparency, to public presentation of our finances. Rolling bases of the project, like to show breakdown.
  • Keep an eye on the limits of gofundme
  • Talk about it with SM group
  • Share projects’ finances will support other organizations/provide evidence of other running projects about main finances issues and how to support a mutual aid network.

ACTION POINTS

  • Nina talk to Leo - paypal account for bank transfer payments
  • Nzinga find out meal cost and any expenses related to the kitchen team
  • Nzinga talk with cafe staff about wages
  • Ben talk to Leo about reicepts “platform”
  • Raise kitchen forecast topic for next week in the next project meeting
  • Social Media group talk about (1) to make contacts and get more money through promotion and (2) showing finances breakdown
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