Treasurer

From: jcriemer@gmail.com <jcriemer@gmail.com>

Sent: Monday, July 15, 2019 12:31 PM

To: fullboard@folkproject.org

Subject: Finally, the Treasurer's Report!

Greetings, folks –

I’ve added the last bits relative to the first half (the ASCAP and BMI royalties) so I can now distribute a comprehensive view. Thanks to Mike for enhancing his database to support the expanded responsibilities of his new PRO Liaison role.

In addition to the detail in the attached P&L, I can report a checking account balance of $2,270, a Money Market balance of $37,180, petty cash of $280, PayPal receivables of $194 and an additional $475 in the Wells Fargo “secured” credit card, which is really a kind of pre-paid debit card. So that’s $40,400 in current assets, and there’s another $141,500 in the Vanguard Account.

One possible element of confusion is the $2,625 reported for Getaway net income. That number includes an anonymous donation for the Fall 2019 event, as well as income from advance sales for the two Getaway-produced concerts set for later this year: Livingston Taylor and Tom Paxton. As a standalone, the Spring weekend turned a profit of $964.32.

Traditionally, we’ve always swept everything from PayPal at month end, and have just gotten used to understanding that Getaway, UkeFest and other special concerts may show a big profit until the expenses arrive. You can see that for Concerts this month, where there’s a good chunk of UkeFest admissions and very little in the form of UkeFest expenses.

With Troubadour advance sales, we’re leaving funds in PayPal until the month the concert occurs. That’s because the dollar amounts are pretty small, and it simplifies the bookkeeping. We could theoretically do that with Getaway, but there we’re talking tens of thousands of dollars. I want that money in our accounts. So the e-payments area is a bit of a hybrid, but we’re managing OK.

I’m assuming that if you take the time to read these monthly financials you’ve figured them out. But the floor is open for questions.

Regards,

Chris

Chris Riemer

Treasurer

The Folk Project

www.folkproject.org

From: jcriemer@gmail.com <jcriemer@gmail.com>

Sent: Sunday, June 30, 2019 4:29 PM

To: fullboard@folkproject.org

Subject: Reimagining the Treasurer Position

Greetings, folks –

I’ve asked for some time on the agenda to present the attached document, and I’d appreciate it if you’d give it a once over beforehand. Revision marks are enabled, so if you want to question something just make notes in context. I’ll bring a few copies, but would ask everyone to print this document and bring it with you. Page one is the job description as currently published in the wiki. Page two and three are how I think we should spread things around.

The issue is that over the last five years, the volume of work that’s been placed on the Treasurer has grown to the point that you’d have to be a little nuts to accept the job. And the learning curve is huge since we need to find a new Treasurer every two years. I’m reimaging The Treasurer as more of a CFO, with the back office work handled by others. Others who are NOT term-limited.

Most of these divisions are dictated by natural breaks created by system handoffs and process flows. For example, PayPal has no connection to QuickBooks, other than that both of them deal with money. ASCAP and BMI have nothing to do with running a venue, but we need to send each of them a check every quarter.

Mike Agranoff has already offered to take on the PRO Liaison job, since he can generate reports somewhat automatically for any event staged at MUF. He’s also willing to chase down the details for others, and is already listed as the Folk Project contact with both entities. Gary Pratt is tentatively willing to take a shot at E-Payments, since he’s deeply engaged with PayPal because of his work on advance sales of Troubadour tickets. We have to talk about the Tax Man/Woman job. We had a paid accountant for several years, but that didn’t really work out for us. Bill Dodds has been doing it on a volunteer basis, but I want to move the performer 1099 processing and NJ Charities reports into the Tax job too. That will double or triple the work required.

The driving factor here is that there are only six months left in my term as Treasurer. Hopefully, the folks who are usually on the Nominating Committee could start scouting for a new Treasurer and Bookkeeper now. I can provide a degree of training and mentoring for those who will be taking up the reins. But the sooner we can start the transition, the less turbulence we’ll have in January.

Chris

Chris Riemer

Treasurer

The Folk Project

www.folkproject.org