Oct 10, 2015 – WSOB Minutes

MINUTES OF MEETING OF WORLD SERVICE OFFICE BOARD
October 10,2015

OPEN MEETING @ 9:30AM SERENITY PRAYER TRADITION 11 – Read by Jennifer CONCEPT 11 – Read Chris

BIRTHDAYS – Laurie 21 Yrs (10/10/15), Chris 21 Yrs (10/18/15)

ROLL CALL & QUORUM DETERMINATION

Scott A. (Chair), Tim A. (Vice-Chair), Linda F. (DOO), Laurie R. (Treasurer), Jennifer M. (Secretary), Frank P. (WSOT), Chris J. (DAL), Guest: Randy

CHAIR ANNOUNCEMENT(s)- Rec’d report on insurance matters with Richard L. Linda celebrated her belly button birthday!

APPROVE THE MINUTES OF THE PREVIOUS MEETING(s) -08/15/2015 and 09/19/2015 Motion to table the minutes until later in the meeting: Chris, 2^nd by Frank

• MOTION: by Laurie to approve 8/15 minutes with corrections. 2^nd by Linda. Motion passes unanimously.
• MOTION: by Laurie to approve 9/19 minutes as submitted. 2^nd by Tim. Motion passes unanimously.

SEVENTH TRADITION: Basket passed

OFFICE DIRECTOR REPORTS

Director of Operations- Linda (Report Submitted)

Highlights for consideration:

• Bring to the board the possibility to give a gift of $500 to give Cynthia, for all her work with the book.
• Regarding the HFC 1 book, it’s not as big as a seller as first thought. When ready to order do we want to have it delivered before December and have it in our end of the year inventory or wait until January and have it on 2016 inventory.
  • Question: Jennifer – What is the impact on ordering them in December vs. January?
    • There is no financial impact on having it in December or January. The only impact would be on the inventory.
  • We did receive a royalty payment rec’d from UK totaling $ 1,750.32. Do we have the ability to track where the royalties came from?
    • No
  • Reached out to landlord to see what’s available in the area.
  • Specialty chips are selling quickly, over 89 sold so far. Kudo’s to Chris for bringing us such a great idea.
  • Making a proposal to lower the price on the hardcover books to match the price of the soft cover book and the cost of a case of books. Run the sale through December 31, 2015. If it’s generating sales extend the sale.
  • Conference committee would like us to look at purchasing another projector and two (2) large screens.

pg 1

• The WSO would like the committee to look into the cost and how much space it would take to store the items. Would like response by November board meeting.

DIRECTOR REPORTS

Chair – Scott S (Report Submitted)

Highlights

• Met with Laurie, worked on QB with her. Read Insurance report Vice Chair- Tim – Report submitted

Treasurer – Laurie R – Report submitted

• Highlights:
  • Total Assets: $303,889.35
  • Total Liabilities: $31,238.30
  • Total Equity: $272,651.05
  • Total Gross Profit (Quarterly): $111,790.73
  • Total Expenses (Quarterly): $129,763.73
  • Quarterly Net Income: -$17,973.00
• Secretary – Jennifer – Report submitted
• Director at Large – Chris – Report submitted
  • Looked into custom CA jewelry for online sales and to have an conference and conventions. Showed us artist rendering of Dog Tags, rings, earrings. Costs: Dog Tags $150, Earrings $90, Rings $150.
  • Questions/Comments
    • Can sobriety info be added to Dog Tags (Yes)
    • Investment to keep inventory on hand. Have to consider theft and keeping it locked.
    • If there is interest to have at conference/convention we would need to work with memorabilia.
    • Is it possible to find a vendor/jeweler to get price down?
    • Idea to put concept on online store to see if people have an interest in these items. Or create a hill page flyer with options.
  • Have Chris go back to vendor to see if we can to work with cheaper metals (i.e. sterling silver, etc.) also to understand how shipping and orders would be handled.
  • Director at Large – Morgan T – Absent No Report
  • Director at Large- Open

TRUSTEE REPORTS

WSO Trustee – Frank P – Report Submitted

WS Trustee – Ira L. – Absent, Report {Submitted

COMMITTEE REPORTS –

Finance -Laurie, Scott – Prudent reserve policy presentation

• Report Submitted:
• Highlights:
  • Working on timeline to get Quickbooks setup for the new fiscal year,
  • Wants board to review the Prudent Reserve Policy (attached with report), propose any comments or questions to be posted on line to be discussed next BOD meeting.
    • The finance committee will be calculating what thee prudent reserve should be, they will have that next month.

Structure & Bylaws -Scott – Update on WSM

• Report Submitted
• As of yesterday has not received daily’s or motions.

pg 2

• Linda responded: Daily’s have been forwarded to conference to be reviewed. Has not been signed off and will be in the delegate mailings once signed off.

Convention – Linda, Ira – updated guidelines

• Have we received updated guidelines
• Planning first conference call within the next 2 weeks. New chair has been setting up and getting ready for the CC.

Conference -Linda, Ira

• Next conference call next Sunday. Laurie would like to be in the call.
• Laurie: How often does the committee members and chairs meet to review the guidelines?

Unity -Jennifer

• No Report

Literature, Chips & Formats – Chris – HFC – revisions and Update on potential for chip sales to outside vendors.

• Group working on the 12 step workbook.
• Linda has printed out a report on the chip sales and they are doing well. Chris and Frank went to a local shop to and she expressed interest and that she could produce epoxy chips at a lower cost.

Hospitals & Institutions – Tim –

• First conference call October 4, looking at page 63. When is the last mailing for an SR14 for next conference? (May 2016).
• All subcommittees are getting involved and excited about the new chair.

Public Information – Morgan

• No Report
• Scott has been reviewing the website and has discovered that the language is outdated on page 1 and needs to be updated to reflect current information.

IT -Linda & Scott

• It has their CC the first Sunday of the month.

Archives -Frank P. & Linda

• Will meet next week and will be cataloging archive items.
• Working on a digital archive
• Need an archive room that provides temperature control and more space.
• Linda will confirm with Watson that if we chose to extend and we want to make an improvement to the back area and we want to use our own contractor what would the requirements be? See if we can get that information to the next archive meeting and put together a budget to get it done and have that by December so we can plan accordingly.

CAWS CONVENTION REPORTS:

1. CAWS 2016-Chicago
2. CAWS 2017_Seattle
3. CAWS 2018-Montreal
4. CAWS 2019-Sweden

GUEST REPORTS

Motion to have Guest Reports out of order: Linda, Chris 2^nd

EXECUTIVE SESSION –

11:35 am Went into Execute Session.

12:05 pm Completed ES heard report from Richard Levy regarding EPLI Insurance.

pg 3

ONLINE BUSINESS- None UNFINISHED BUSINESS-

A. WSOB Director(s): Openings = one vacancy.

a. Resume from Randy

B. CA.ORG website Current and New (Linda and Scott)

a. Linda has asked Cameron to make sure links reflect updated information.

b. Go into the test site (https://caworld.test-server.ca/) and check the links. Everything that doesn’t work or isn’t right, send a report to Linda and she will pass it on to Cameron.

C. European Fulfillment Center -Morgan and Scott – Update on Yahoo! Group.

a. Google group to discuss

b. In work

c. Doesn’t agree to remove from minutes, until we are sure that this is another viable option.

D. Meditation Book – Status update & 35th Anniversary Edition (Ira)

a. Linda – they are still getting in samples and quotes. Will be produced in China. Will have Satin cover and Onion page will have volume and # book printed. Should have prices to consider by next meeting.

F. e-booklets (Keith – Morgan)

a. On hold until we have updates

F. Meeting Formats in a Pocket – Linda-

a. Waiting for changes to be agreed upon

G. Copier lease expiration (April 2016) –

a. Received new quote from Ricoh for lease or purchase. Also have another quote from Diego and wanting another quote from Xerox.

b. Do we buy a least robust for color copier.

H. Office Lease (February 2016) – Ira. Linda

a. Covered in Linda’s DOO report

I. 800 number – – Jennifer

a. Setting up meeting with Linda, Earl and TW to discuss.

J. Trademark/ We’re here and we’re free – Ira-Bernie

a. Linda found some errors that need to be fixed. She will go to the Secretary of State website to make sure how we are incorporated. Take it to our attorneys and ask how this should be handled.

K. New Reg on-line Laurie-Marius

a. Laurie has been working with Marius and Linda and its coming along beautifully. Waiting on Bridge (Security Certificate) with BOA and once that’s completed he will begin work on the online store and donate button.

b. Testing to begin shortly and go live is in January 2016.

NEW BUSINESS-

MOTION to approve invoice submitted by Chris J. 2^nd Linda

Amended Motions “Motion to approve invoice payable to Chris Jacque for artwork and renderings for new product development for $250”. 2^nd by Linda. Passed Unanimously. Chris will go back to artist and ask for more renderings at artist expense.

MOTION by Linda to create an internal guideline to use alpha numerical numbers on chips for consistency. 2^nd by Tim

Friendly amendment to add “all international chips” (by member)

pg 4

FINAL MOTION by Linda “to create an internal guideline to use alpha numerical numbers on all international chips for consistency whenever possible.”

DISCUSSION: where ever possible this would keep from errors in sending out orders on confusion with translating language.

Discussion: Strike “Internal Guideline” and add “World Service Office Policy”

FINAL MOTION WITH CHANGES: to create a World Service Office Policy to use alpha numerical numbers on all international chips for consistency whenever possible. Motion passes unanimously.

MOTION by Linda to gift $500 to Cynthia Cronkite for her work on HFC. 2^nd None. Motion fails for lack of second.

MOTION by Linda to reduce the cost of HFC 2 (Hardcover) to match the price of the soft cover to $9.95 (a savings of $5) and the cost of a case of 28 books to $195 (taking the book to $6.95 and a case savings of $50). We can run this sale ending December 31, 2015 and hen extend if it is generating sales. 2^nd by Tim.

FRIENDLY AMENDMENT “Sell the books at $7.95 per book and $170 per case. $6.07 per book”

FINAL MOTION: By Linda to reduce the cost of HFC 2 (Hardcover) to $6.95 and the cost of a case of 28 books to $170 (taking the book to $6.07). We can run this sale ending December 31, 2015 and then extend if it is generating sales. 2^nd by Tim.

FRIENDLY AMENDMENT by Frank to reduce to $5 per book. Not accepted by Linda

FRIENDLY AMENDMENT by Chris to have the sale until gone. Not accepted by Linda

She refused the 2 friendly amendments because she wants to see if we can sell them at this price first.

Jennifer – donate them to Marathons or treatment facility Tim – he likes the $5.95 for cost as marketing.

Laurie – likes the motion but would want to address donations perhaps separately.

Richard L – Basically they are defective books and likes the idea of donating them. So we can move forward to get the updated HFC 3 book.

Frank – Why can’t we sell to Europe? Because we have How It Works in that edition. Even though its public domain in the US it is not in Europe. What about donating this to South Africa, who needs the books? We will run into risk.

Frank called for the vote. Tim 2^nd. Motion passes unanimously.

MOTION by Linda to order 500 HFC Hardcover and 3000 Softcover books. (Point of Information: How many have we been selling? Until we are out of all books). 2^nd by Frank. MOTION passed unanimously.

MOTION by Jennifer to donate excess HFC 2 hardcover to our local marathons to give to newcomers. 2^nd by Chris

Friendly amendment by Linda to not just limit it to local. Linda feels that it’s unfair, that we have meetings all over this country that don’t have money to buy this book. Laurie disagrees with friendly amendment because there is a cost that is associated with shipping books out to other states. If there is a meeting in need in the outlying areas then we can address that as the need arises.

Linda: are their guidelines on quantities?

FRIENDLY AMENDMENT by Frank: If outside area pays for shipping we can send books. Friendly amendment accepted.

FRIENDLY AMENDMENT by Laurie: to be implemented in 2016. Friendly amendment accepted FRIENDLY AMENDMENT by Chris: to add “special events”

pg 5

FINAL MOTION: by Jennifer to donate excess HFC 2 hardcover books to our local marathons and special events to give to newcomers. If an outside area pays for shipping we can send books to them. This to be implemented in 2016. Motion passes unanimously.

MOTION TO adjourn: 1:40 p.m. Laurie, 2^nd by Tim.

NEXT MEETING(s) – 11/14/2015, 9:00 a.m.

Respectfully Submitted,

Jennifer Molina

WSOB Secretary

pg 6

CAWSO
Chair Report

Report for October 10,2015

Tasks

1. Met with Linda on two occasions and Treasurer (once) to go over matters affecting the WSO & WSOB:

a. Setup Quickbooks (done) and server access (to do).
b. Request lease and other contract documents, (done)
c. General discussion with DOO regarding staffing. Had her prepare a payroll analysis of current staffing plus adding additional hours and compensation for one individual.
d. Review with her the status of various projects she has been working on.
e. Had her pull out insurance policies available. Reviewed contracts and leases for hotels in for CAWS Conventions and WSC.

2. Telephone calls with Chair WSBT (two) to review how things are progressing. Telephone calls with WSOT, DOO and Treasurer regarding various issues.

3. Received and reviewed multiple emails from Linda, WSOT, WST, and Treasurer.

4. Setup new posting method and files on Yahoo! Group.

4. Received general liability & D&O policies from agent (via DOO) and reviewed. Posted questions to agent. Met with agent this week to review coverages, issues with CAWS being legal party to contracts, and potential lack of coverage.

6. Reviewed the issues in regard to the contracts and insurance. Sent an email to Frank P. to be forwarded to Trustees (in his role as WSOT) that discusses the potential problems with CAWS being the legal party to all contracts and the insurance covering CAWSO instead. Made a suggestion as an individual member (not a WSOB suggestion) that the liability on all contracts, is moved back to CAWSO.

7. Received an email from our insurance agent (forwarded to Frank P.) where the agent agreed that from an insurance standpoint the liabilities should be transferred back to CAWSO and additional insurance, not as robust or costly, be acquired by CAWS.

8. At the behest of the Treasurer I reviewed certain pages of WSM (pages 38 – 39), Conference Committee WSC approved guidelines (specifically page 3 – general guidelines), and Convention Committee WSC approved guidelines (specifically page 32) to determine what, if any, procedures and guidelines were not being followed in the last few years. Unfortunately, found that many of the guidelines and procedures have not been followed. Will be discussing these in detail with WST upon his return from Florida. Hope to have presentation of solution(s) at next Board meeting.

9. Worked with Treasurer to prepare the WSO Finance Committee report.

10. Stayed in touch with Linda and Marius with regard to IT issues and also continued to review the new website. Continued to review status on new registration system. Teleconference with Marius regarding changing method of remote access to CAWSO.

pg 7

11. Ordered Linda to “scrub” the “Inc.” after CAWSO. Requested that we get a couple of bids (three if possible) on getting a DBA. Still finding many instances of “CAWSO, Inc.” – such as Convention Committee Guidelines. So more to do on this front. The window on our office will be changed.

12. Stayed in contact with Linda regarding potential new lease on building or continuing old one.

13. Checked the warehouse area and discussed with Linda potential changes that will have to be done for both efficiency and safety. Also reviewed office layout and, should we stay, potential for reorganizing it to better handle the work flow.

Events:

1. Linda celebrated her 65^th birthday this last week. Congratulations. Lunch at local Italian

restaurant attended by Chair, DOO and staff. Not quite the food posted by Frank P. (talk about a heart attack inducing sandwich) on his Facebook account but nice nevertheless.

To Do:

1. Work on project examining CAWSO minutes and procedures to collect for Board review. Started on this project by reviewing hard copies in office.
2. Work with DOO on policies and procedures.
3. Check employee handbook.
4. Quickbooks new database setup with Treasurer, DOO and office bookkeeper. Process begun. Timeline established – see WSO Finance Committee report for 10/10/2015.
5. Work with DOO to establish a “punch list” on what has to be done with regard to all contracts and when.
6. Set a meeting with member to go over Spanish chips and literature. Translations. Waiting to find out if he can make it this Saturday.
7. Continue review of back room safety issues, shelving, possible reorganization of existing space if we stay.

Sincerely,

Scott W Stevenson

10/10/2015

pg 8

WSOB- Vice Chair

October 9,2015

The following are the activities I have performed since our last meeting

• I participated with H & I on the phone conference and discussed the different sub-committees work.
• Kept in Communication with the WSOB- DAL (Chris)

Thank you for letting me, be of service

Gratefully,

Tim Andre

 pg 9

WSOB

Secretary Report October 9,2015

The following are the activities I have performed since our last meeting.

Completed draft minutes, and uploaded them into the share drive.

Thank you for letting me be of service.

Gratefully,

Jennifer

 pg 10

CAWSO – Director of Operations Report
October 10,2015

• I meet and/or communicate with the WSOB Chair, WSBT Chair, Treasurer, and Paid Bookkeeper daily, weekly and/or when necessary.
• I will continue to work with the Archive, IT, Convention, and Conference committees – via conference calls.
• Office Update:
  • Keith and I continue to work with RR Donnelly on making the Conference Approved changes to HFC
  • Conference call with Cynthia and Rob W. on Thursday, October 08,2015 brought everyone up to date on progress to date.
  • Cynthia has made all the conference changes and is helping us to be able to have the complete book in word
  • It was asked if we could give Cynthia a “gift” of $500 in appreciation for all her help on this project as well as others she had given the fellowship over the years.
  • We will need a couple of proof readers to be sure that we have caught all the changes that happen from converting PDF to word.
  • Our goal is to have books ordered in November (The Trustees were under the impression that this book was a better seller than it is – do we want to have delivered in December pre end of year inventory? Or not until January?
    • My recommendations would be to order 3000 soft covers and only 500 Hard Cover.
    • This book will be available on Kindle and Nook also
  • Royalty Payment received from UK totaling $1750.32
    • I am working with LCF to get updated Meeting Format info for the new Format Booklet
  • I have reached out to our Landlord and Realtor Brandan to gather information regarding expanding or moving to a larger office. Working with Ira and Chair on this and we will have a complete report at the next meeting,
  • In working with Laurie, we have reached out to two of the Copier representatives gathering information regarding changing out our current copier at the end of the contract.
  • To date 37 EBooks have been sold in the US, 5 EBooks have been sold in the UK and one (1) EBook has been sold in Europe. – We should begin receiving checks for these sales in the next 30 days (or sooner)
  • The New Specialty chips have been selling like “Hot Cakes” with over 89 being sold to date. We have put them on the online store and received our first order the same day.
  • HFC II soft cover and hard cover.
    • Currently 2960 soft cover books in stock (at current rate of sales will last approx. 2 years.)
    • Currently 7581 hard cover books in stock (at current rate of sale will last approx. 11 years.)
    • I would like to make a motion to reduce the cost of the hard cover books to match the price of the soft cover book to $9.95 (a savings of $5) and the cost of a case of 28 books to $195 (taking the book to $6.95 and a case savings of $50). We can run this sale ending December 31, 2015 and then extend it if it is generating sales.
  • Peter is working with Cameron by taking photos for the new Online Store
  • Working with Marius to work on the new Registration Website in preparation to replace RegOnline
  • If anyone is in the area next Thursday, October 15^th – stop in between 11:30 am to 1 pm for an In & Out lunch provided by Watson in appreciation to their tenants.
• CAWS 2015 Conference
• Registrations: 144 Revenue: $4282
• Conference Committee would like us to purchase another projector and two large screens.
  • If we stay at our new venue – adding another projector and screen will allow everyone in the room the opportunity to read the meeting minutes as they happen.
  • After working out the distribution of the voting clickers.Jt was determined that this improvement did save time and offered immediate results.
  • Moving all the reports to the Box has also helped the conference in saving money and allowing everyone to easy access to all reports.
    • By leasing less equipment and using some of our office equipment we have lowered the Conference Office Rental costs by over $700

pg 11

• We have also saved money by lowering paper use from approx. 15 cases of paper to only using 5- 1/2 cases this year
• Laurie R and I had a very successful conference call with Sheraton Gateway working on settling the final Conference Bill
• CAWS 2016 – Chicago –
  • Registrations: 11 Revenue: $2395
  • Additional A La Carte items added to RegOnline
• CAWS 2017 – Seattle – Minutes downloaded to Yahoo Group
• CAWS 2018 – Montreal – No report at this time
• CAWS 2019 – Sweden – No report at this time.

Respectfully submitted:

Linda L Francisco Director of Operations

pg 12 

Frank J. Pappano -WSOT – Monthly Report to the WSOB – from August 8^th,2015 to September 19^th,2015

• The following are the activities and duties I have performed since the last WSOB board meeting September 19th, 2015:
• Communicated WSOB matters to the WSBT and vice versa.
• Participated in various WSOB & WSBT online business
• Participated in various WSOB & WSBT phone discussions
• Presented a written Overview of the WSOB September board meeting, current Reconciled Financials and Individual Board Member reports to the WSBT Board members.
• Met or spoke with DOO and WSOB Chair to discuss various business matters.
• Met with Archive committee and prepared items for next Convention and Conference also participated with online Archive business. Digital archive is now in production. Next meeting is October 17^th.
• Participate in ongoing discussions with Laurie WSO Treasurer.
• Spoke and met with my Mentor and Buddy to discuss my progress and ask questions.

Thank you for allowing me to be of service

Frank Pappano, WSOT

pg 13

World Service Office
DAL Report
October 10^l, 2015

• I read the reports on the yahoo site from my fellows and report back if need be.
• I participated in the September Board meeting.
• I have been tracking sales of new chip (looks like it’s a winner) looking into possible cheaper vendor.
• I have looked into custom CA jewelry for online sales (finfiind)
• I have been in contact with DOO and WSOBT on a regular basis.
• I have done a little work on editing HFC for transition to e-book.

ILAS Chris Jacques DAL

pg 14

CAWSO Finance Committee
Monthly report
Meeting of October 10,2015

Committee members:

Laurie Rossi – Treasurer CAWSO Scott Stevenson – Chairperson CAWSO

Tasks started since last meeting of the WSO:

1. Reviewed during teleconferences and email exchanges:

a. Accounting issues with inventory adjustments, error corrections, hotel bill issues from CAWS 2015, Hotel bill with Sheraton Hotel for 2015 WSC and QuickBooks.

b. Discussed tax issues with regard to expense advances (per diem), reporting and requirements. Changes in description will be made and chart of accounts fixed to properly account for these transactions.

c. Had discussion regarding specific duties to be added to existing position to allow for a staff person to handle certain WSO convention and conference responsibilities. Payroll analysis performed for current and next fiscal periods to determine ability to absorb the additional costs.

d. Convention & Conference responsibilities and lack of information available to meet WSO responsibilities. Reviewed Conference Committee and convention committee guidelines which will be discussed with the board committee representatives of those committees.

2. Reconciling of Sheraton hotel bill:

a. I spoke to Jay and Susan regarding some issues with the bill and asked for their input and any errors that need to be corrected on the bill.

b. Linda and I had a conference call with the hotel and were able to get all the credits due to us credited to the bill and the result was the bill went from us owing them approx. $3,300 to them owing us approx. $1,000.

c. We discussed with the hotel contact that anything to do with changes to the master account as far as credits and charges should be discussed with a CAWSO authorized representative and not conference committee members, and we will provide her with a list of those individuals before the next conference.

d. The hotel is also in the process of having credit and direct billing set up so that we do not have to max out the credit card on site such as was the case this year.

3. Met with Scott and Linda @ World Service office to and did/discussed the following:

a. New QuickBooks accounting data file. Pulled data from existing file for use in preparing new data file. Planning on start up by 12/1/15 at the latest to allow for simultaneous operations.

pg 15

b. Conference billing problems. Issues with lack of documentation of costs implemented under contract plus changes (the “BEO’s”). Problem in chain of command at conference resulting in changes to contract (and resulting financial obligations of CAWSO) without knowledge or approval of CAWSO. Reviewed CAWS 2015 Hotel billing problems, more chain of command problems at convention, and missing obligations by WSO and how to correct. Options discussed.

c. Reviewed insurance policies paid by CAWSO. Discussed meeting between Scott Stevenson and Johnny Searcy (our insurance broker) and possible ramifications. Pulled copy of additional employer practices policy which has been forwarded to our broker for analysis and possible changes to existing policy. Discussed over budget problem in last two years for insurance expense which now appears to be the cost of the employer practices policy (over $2700 last policy year).

4. Prudent Reserve Policy:

a. Reviewed the draft policy worked on at conference by Jay P. and Scott, a copy of which is attached. Will submit to the CAWSO board for review to be discussed and voted on at the November board meeting.

Tasks to be done:

1. QuickBooks setup for new fiscal (calendar) year. Started. Timeline as follows:

a. October 10 – pull chart of accounts, customer and vendor lists, (done)

b. October 20 – finish chart of accounts, customer and vendor list change/purging for inclusion in new data base. Setup new company data file. Pull items list.

c. November 1 – Continue to work on lists clean up. Import chart of accounts into new data base.

d. November 15 – import all new items, vendors, customers, and input 2016 budget.

e. November 25 – add in new balances (which will be updated) to all accounts in chart of accounts.

f. December 1 – update ail balances (where changed) and use both data files to process all transactions for the last month of 2015.

g. January 1, 2016 – use only new company file for all transaction posting. Old file to be maintained, corrected and reconciled in order to be used for short period financial statements and tax return.

2. Budget breakdowns to fit into new method of QuickBooks budget input.

3. Set up of B of A bridge cc function to new registration website. Marius and Linda are working on this. This should be completed in the next two weeks and we will then start testing it in November and December with the estimated launch time line of January 1,2016.

4. Continue review of minutes, motions, and other documents to determine what the complete finance policies are for the WSO. Note: Started on this project but quite a bit more work to finish.

Respectfully submitted:

Laurie Rossi

pg 16

The purpose of the Prudent Reserves policy for CAWSO is to ensure the stability of the mission, programs, employment, and ongoing operations of the organization. The Prudent Reserve is intended to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding, or uninsured losses. Prudent Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget gap. It is the intention of CAWSO for Prudent Reserves to be used and replenished within a reasonably short period of time. The Prudent Reserve policy will be implemented in concert with the other governance and financial polices of CAWSO and is intended to support the goals and strategies contained in these related policies and in strategic and operational plans.

DEFINITIONS AND GOALS

The Prudent Reserve Fund is defined as the designated fund set aside by action of the World Service Office Board of Directors. The minimum amount to be designated as Prudent Reserve will be established in an amount sufficient to maintain ongoing operations and programs for a set period of time, measured in months. The Prudent Reserve serves a dynamic role and will be reviewed and adjusted in response to internal and external changes. The minimum Prudent Reserve Fund is equal to three months of average operating costs, three months of inventory cost and a ten percent contingency above and beyond the operating and inventory cost. The calculation of average monthly Prudent costs includes all recurring, predictable expenses such as salaries and benefits, occupancy, office, travel, program, and ongoing professional services. Depreciation, in-kind, and other non-cash expenses are not included in the calculation. The calculation of average monthly expenses also excludes pass-through programs, one­time or unusual capital purchases. The amount of the Prudent Reserve fund minimum will be calculated each year after approval of the annual budget, reported to the Finance Committee and included in the regular financial reports.

ACCOUNTING FOR RESERVES

The Prudent Reserve Fund will be recorded in the financial records as Prudent Reserve. The Fund will be funded and available in cash or cash equivalent funds. Prudent Reserves may be maintained in a segregated bank account or investment fund, in accordance with investment policies.

FUNDING OF RESERVES

The Prudent Reserve Fund will be funded with surplus unrestricted funds. CAWSO Board of Directors and the Board of Trustees may from time to time direct that a specific source of revenue be set aside for Prudent Reserves. Examples may include one-time gifts or bequests, special grants, or special appeals.

USE OF RESERVES

Use of the Prudent Reserves requires three steps:

1. Identification of appropriate use of reserve funds. The WSOB will identify the need for access to reserve funds and confirm that the use is consistent with the purpose of the reserves as described in this Policy. This step requires analysis of the reason for the shortfall, the availability of any other sources of funds before using reserves, and evaluation of the time period that the funds will be required and replenished.

pg 17

2. Authority to use Prudent reserves

The WSOB Treasurer with a WSOB 2/3 majority vote will submit a request to use Prudent Reserves to the WSBT. The request will include the analysis and determination of the use of funds and plans for replenishment. The organization’s goal is to replenish the funds used within twelve months to restore the Prudent Reserve Fund. The WSBT will require a 2/3 majority vote to approve the request.

3. Reporting and monitoring.

The WSOB treasurer is responsible for ensuring that the Prudent Reserve Fund is maintained and used only as described in this Policy. Upon approval for the use of Prudent Reserve funds, the WSOB Treasurer will maintain records of the use of funds and plan for replenishment. He/she will provide regular reports to the Finance Committee, WSBT and the WSOB of progress to restore the fund to the minimum amount.

pg 18