Treasurer's Report

Hello Everyone,

I have a few things to go over for a change.

1. Chris has informed me he wants to be out of the mix by April. He’s been talking about it for a while, I just didn’t want to believe him. He has been such an important asset for the Folk Project for many years. His leaving is forcing me to take stock of how we are going to get our Bookkeeping & accounting done.

2. Which leads me to number 2. Many years ago you voted to hire an Accountant. It hasn’t always worked out well but we need to think about hiring a new one as well as a professional Bookkeeper. I am neither. I understand a profit and loss statement but as a non-profit our primary goal is being accountable and not worrying about tax mitigation. QuickBooks is not a simple program and our accounting has gotten more complicated over the years. Expecting a volunteer to be responsible for all the work needed to keep things accurate and up to date is unrealistic. Not to mention having to teach someone the entire system every time we elect a new Treasurer every two years.

In my mind we need both. Why pay an accounts fees for something a professional Bookkeeper can do for much less. I have started the search and talked to a few people. When I have more complete information on costs and availability I will let everyone know. I am searching for someone with non-profit experience as well as being proficient in QuickBooks on both fronts.

3. Last year we voted to stop paying for Workmans Comp Insurance. We were put in an awkward position with the potential new bill S863... then Covid hit. It has been pointed out to me that now is a good time to drop the insurance. We have no venues running and it seems like a prudent time to drop it.

Respectfully submitted

Peggy Karr