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Special iPNB Financial Meeting In Progress NOW

(02 May 02 1800 UTC)

Webcast on WBIX

Meeting began at 1803 UTC. Barry, and Ferguson were not present in the conference call. Bert Lee was late, but on his best behavior.

Present: rest of iPNB, executive director and vice-director, controller.

Chair, Leslie Cagan, noted that this meeting was intended as a preliminary discussion, and votes weren't necessary, so keep comments general.

Speaking is "Ross," who has prepared a budget for FY02: Several corrections of dollar figures on a budget sheet we can't see. Salary expense line-item ($5 million plus) includes $400,000 in severances. Good news is that Pacifica is not liable for the whole $500k given in golden parachutes by the old board, and the current amount is now down to around $200k. The other $200k is from deals made in layoffs at PNN, BAI, etc.. Legal expenses are $300k. Bottom line is +$19,000 for the period, once legal and income are corrected.

In other words, says Leslie, if everyone watches their expenses, Pacifica will be solvent at the end of calendar 2002.

Dan:
Pacifica national office (as opposed to the stations) needs to raise $2 million, as its expenses are the major variables in the budget. $1.2 meg of this will come from CPB. Ross:
KPFK Transmitter Day raised $209k (yay!) and A20 had $50k in pledges, $30k of it already collected. (They had expected $40k for A20.)

Teresa Allen's legal defense fund has $4k in it, and they'll cut a check any time she needs it. Allen suggested a national fund raising day for the archives. This will happen, according to Verna. They will also add an online shopping cart for people who want to order tapes online.

Long discussion of past due bills at local stations, and how long before they become current on their debts. There will be another conference call with the executive staff and the GMs tomorrow (Friday). Carol notes that the station debts are not completely reflected in the budget, and these might force further cuts. KPFK, WPFW, and WBAI have the worst problems, and they are taking care of the most pressing debts first.

Leslie hopes that everything will be clear by the June meeting, then they can take the necessary votes. Rob comments that the finance committee has not had a formal meeting yet due to problems getting data. It can take care of much of this, and so questions, ideas, and of course the numbers, should go through them.

Dave Fertig noted that KPFK is within "weeks" of hiring a permanent GM. Leslie is still negotiating with Democracy Now!, which wants to stay an independent production.

The issue of on-air bylaw discussions will be addressed in the GM phone call. Verna also mentioned Pacifica Matters. There will probably be an iPNB retreat in sunny California, with a professional facilitator, right before the Berkeley meeting. [I think this is a great idea, if it helps the board prepare. -hugh]

Leslie thanks everyone, and at 1937 UTC, we are ADJOURNED.