Board Meeting Agenda

March 17th, 2018
9:30 AM
OVF Meeting Area

  1. Move and second to accept unread the minutes of 01/10/2018 Board meeting.
     
  2. President’s Report ( 5 minutes )
    1. 2018 Elections: Pres., Tres., Rec. Sec., Ed. Chair. Lower and Middle Phase Reps
    2. Mar Vista Garden Tour - April 28
    3. Committee to formalize policy and expectations about behavior, tolerance and community
       
  3. Round Table ( 15 minutes )
    1. Treasurer’s report
    2. Garden Master’s report
    3. Membership Secretary’s report
    4. Education Secretary’s report
    5. Independent Project Monitor report
    6. Phase Rep reports
       
  4. Old Business
     
  5. New Business
    1. July 1 community hour policy enforcement - MOTION - For many years OVF has had a rule stating that unless other arrangements have been made one-half of a member's community hour requirement is to be completed by July 1 or a citation will be issued.  However, what consistutes other arangements have often been confusing and furthermore, the requiremnet itself has been interpreted differently.  In order to treat all members fairly, move to adopt the following policy when enforcing the July 1 year community hour requirement...

      "Members with agreed upon future community hour potential (gate closing, workday supervisor or workday time keeper) occurring between July 1 and December 31 may apply the balance of any future potential community hours greater than one-half of their annual community hour requirement toward their first half total."

       
    2. Trees in plots - MOTION - Although there have been rules prohibiting members from growing trees in their plots for at least the last 20 years, we have made numerous exceptions to this rule over the years for various reasons.  In order to present a more consistent governance to all members of the Ocean View Farms Community Garden, move to remove the rule prohibiting trees in members plots and form a sub-committee to present to the board at the May board meeting a list of recommendations and restrictions for growing trees in plots.
       
    3. Certificates of Deposit - MOTION - Due to lowering interest rates, a previous certificate of deposit held at PacWest Bank was closed upon maturity on January 2, 2018. A search for a new institution to maintain our savings was initiated and The First Internet Bank (FDIC insured) has been identified offering between 2.05 and 2.35 percent (APY) on business CDs.  Move to open three CDs up to $12,000.00 each (1 - one year, 1 - two year and 1 - three year, which each being rolled over into a new three year CD at maturity) at First Internet Bank with Frank, Carol and Ed as signers per the resolutions* below.  
       
  6. Future Agenda Items (2 minutes)
    1. Community hour fulfillment rate (May 2018)
  7. Next General Meeting April 14th, 2018
  8. Next Board Meeting: May 19th, 2018
  9. Request for move and second to adjourn

*First Internet Bank Resolutions:

The Corporation named on this resolution resolves that,

1. The Financial Institution is designated as a depository for the funds of the Corporation and to provide other financial accommodations indicated in this resolution.
2. This resolution shall continue to have effect until express written notice of its rescission or modification has been received and recorded by the Financial Institution. Any and all prior resolutions adopted by the Board of Directors of the Corporation and certified to the Financial Institution as governing the operation of this corporation’s account(s), are in full force and effect until the Financial Institution receives and acknowledges an express written notice of its revocation, modification or replacement. Any revocation, modification or replacement of a resolution must be accompanied by documentation, satisfactory to the Financial Institution, establishing the authority for the changes.
3. The signature of an Agent on this resolution is conclusive evidence of their authority to act on behalf of the Corporation. Any Agent, so long as they act in a representative capacity as agents of the Corporation, is authorized to make any and all other contracts, agreements, stipulations and orders which they may deem advisable for the effective exercise of the powers indicated on page one, from time to time with the Financial Institutions, subject to any restrictions on this resolution or otherwise agreed to in writing.
4. All transactions, if any, with respect to any deposits, withdrawals, rediscounts and borrowings by or on behalf of the Corporation with the Financial Institution prior to the adoption of this resolution are hereby ratified, approved and confirmed.
5. The Corporation agrees to the term and conditions of any account agreement, properly opened by any Agent of the Corporation. The Corporation authorizes the Financial Institution, at any time, to charge the Corporation for all checks, drafts, or other orders, for the payment of money, that are drawn on the Financial Institution, so long as they contain the required number of signatures for this purpose.
6. The Corporation acknowledges and agrees that the Financial Institution may furnish at its discretion automated access devices to Agents of the Corporation to facilitate those powers authorized by this resolution or other resolutions in effect at the time of issuance. The term “automated access device: includes, but is not limited to, credit cards, automated teller machines (ATM) and debit cards.
7. The Corporation acknowledges and agrees that the Financial Institution may rely on alternative signature and verification codes issued to or obtained from the Agent named on this resolution. The term “alternative signature and verification codes” includes, but is not limited to, facsimile signatures on file with the Financial Institution, personal identification numbers (PIN), and digital signatures. If a facsimile signature specimen has been provided on this resolution, (or that are filed separately by the Corporation with the Financial Institution from time to time) the Financial Institution is authorized to treat the facsimile signature as the signature of the Agent(s) regardless of by whom or by what means the facsimile signature may have been affixed so long as it resembles the facsimile signature on file. The Corporation authorizes each Agent to have custody of the Corporation’s private key used to create a digital signature and to request issuance of a certificate listing the corresponding public key. The Financial Institution shall have no responsibility or liability for unauthorized use of alternative signature and verification codes unless otherwise agreed in writing.

"The first step towards getting somewhere is to decide you’re not going to stay where you are." — John Pierpont (JP) Morgan

OVF 2018 Budget

Category / Description 2018 YTD 2018 Budget Over (Under) FY % YTD 2017 Budget
INCOME
 
FEES
 
    MEMBERSHIP FEE
38,650.50
38,500.00
150.50
100.4%
30,000.00
    ASSOCIATE FEE
1,176.00
1,300.00
-124.00
90.5%
800.00
OTHER INCOME
 
    RECYCLE
817.04
2,200.00
-1,382.96
37.1%
2,200.00
    DONATION RECEIVED
440.00
1,000.00
-560.00
44.0%
1,000.00
    GREENHOUSE SALES
1,474.00
1,500.00
-26.00
98.3%
0.00
INTEREST INCOME
 
    INTEREST EARNED
4.04
50.00
-45.96
8.1%
50.00
TOTAL INCOME  
$ 42,561.58 44,550.00 -1,988.42 95.5  
EXPENSE
 
SITE MANAGEMENT
 
    BEAUTIFICATION
124.28
200.00
-75.72
62.1%
150.00
    CARPENTRY
76.61
200.00
-123.39
38.3%
200.00
    COMPOST & SHREDDING
626.47
1,250.00
-623.53
50.1%
1,250.00
    INSURANCE
0.00
2,250.00
-2,250.00
-
2,200.00
    MISC. GARDEN SUPPLIES
547.14
800.00
-252.86
68.4%
800.00
    ORCHARD
308.57
400.00
-91.43
77.1%
300.00
    PEST MANAGEMENT
301.07
1,050.00
-748.93
28.7%
1,000.00
    PLUMBING
507.28
575.00
-67.72
88.2%
550.00
    PORTABLE
2,125.45
2,125.00
0.45
100.0%
2,100.00
    SECURITY
75.40
400.00
-324.60
18.9%
350.00
    TREE MAINTENANCE
100.00
3,000.00
-2,900.00
3.3%
2,800.00
    GREENHOUSE SUPPLIES
308.41
600.00
-291.59
51.4%
0.00
ADMINISTRATION
 
    CHAIR & BOARD
719.63
750.00
-30.37
96.0%
450.00
    MEMBERSHIP
969.82
750.00
219.82
129.3%
500.00
    EDUCATION & NEWSLETTER
76.47
850.00
-773.53
9.0%
850.00
    POTLUCK & WORKDAY
169.09
800.00
-630.91
21.1%
750.00
    DONATED FUNDS
2,195.95
2,500.00
-304.05
87.8%
3,500.00
UTILITIES
 
    D W P - POWER
138.34
1,000.00
-861.66
13.8%
800.00
    D W P - WATER
2,277.20
25,500.00
-23,222.80
8.9%
20,000.00
    TELEPHONE
178.40
1,050.00
-871.60
17.0%
1,000.00
TOTAL EXPENSE  
$ 11,825.58 46,050.00 -34,224.42 25.7  
RESALE INCOME
 
    KEY SALES
77.00
100.00
-23.00
77.0%
150.00
    LUMBER SALES
226.15
750.00
-523.85
30.2%
300.00
    T-SHIRT SALES
300.00
750.00
-450.00
40.0%
750.00
TOTAL RESALE INCOME  
$ 603.15 1,600.00 -996.85 37.7  
RESALE EXPENSE
 
    KEYS FOR RESALE
0.00
100.00
100.00
-
150.00
    LUMBER FOR RESALE
554.91
750.00
195.09
74.0%
300.00
    T-SHIRTS PURCHASES
0.00
750.00
750.00
-
750.00
TOTAL RESALE EXPENSE
554.91 1,600.00 -1,045.09 34.7%  
 
NET RESALE INCOME / (EXPENSE)
48.24 0.00 48.24    
NET OPERATING INCOME / (EXPENSE)
30,736.00 -1,500.00 29,236.00    
2018 ANNUAL SURPLUS / (DEFICIT)
30,784.24 -1,500.00 29,284.24    
 
 
B of A Checking
44,419.98      
B of A Savings
20,001.27      
First Internet Bank - CD1
10,000.00      
First Internet Bank - CD2
7,500.00      
First Internet Bank - CD3
7,500.00      
Budget as of: 2018-03-17