hi @reef-finance
We haven’t met tonight, but here was the agenda
Could you please have a look and see whether we can agree online to advance certain things, like sending questions to notary or fixing a meeting with Triodos (if we are ready). An update on the confesseurs process is that whoever went through the process, got A, so nothing to report.
If need be, will reschedule the meeting.
Let’s talk soon.
Cheers
1 Like
Notary: the questions make sense. I am sure more questions will come, but that’s no reason to hold offon these ones. Let’s send them.
Triodos: I have not seen summarized information about who’s going with them and who is not. It should be easy to do a poll, though, again, this is not going to be complete since the group itself is not complete.
1 Like
Hi @reef-finance
Thanks, @alberto for the answers. In this case, will send the questions to the notary as they stand here
Triodos questions - lets wait & ok for the poll.
Something important came up yesterday during the coordination meeting:
- Next Wed, 10 April during the plenary - we need to present the quarterly budget update (January -March 2024). I can look at what was foreseen, but could somebody do the extract of what was spent by team? see the presentation i have started here.
Thanks
There is still Lie‘s question on the qualified majority of SocSim‘s general assembly that we need to include in the questions to the notary. I had agreed with Sarah to translate it into French this weekend if you can wait until then.
1 Like
I have inserted a profit loss statement for Q1 on slide 3, please have a look and let me know if any comments.
1 Like
Hello @ugne
I’ve now inserted the final question for the notary on the qualified majority of SocSim. Thx!
1 Like
Thank you, perfect. Just sent the questions!
Organization-wide:
Accounting => Reports => Profit and loss => Quarterly (direct link)
Team by team:
Work => Projects => Select the project => Expenses
For example, Finance: Log in to your FreeAgent account.
1 Like
ok, got it
There is something i don’t understand. Is it possible that some of the expenses are not allocated to the teams? I have reviewed all the teams and all the expenses and the summary is here in our presentation
However, if you look at Richard’s slide - nr 3, only some of the expenses are reflected on my slides 4 & 5. However, there are quite many items that are not included. We need to put show them somehow. I meanly refer to those highlighted (example: rental is not under logistics…)
Hello @ugne , according to Freeagent, the consultancy fees are linked to team coordination. Rental of venues hasn’t been linked yet and I would think this should be Team logistics. Insurance also hasn’t been linked and I think it falls either within Team Finance or Team Building, perhaps sth. to discuss during the plenary?
1 Like
Yes, very possible. Easy to fix, though.
This is a long-standing discussion. So-called “general expenses” are, well, general, and do not fit neatly into a structure by teams. Insurance (a legal obligation, we cannot not have it) is a great example. Also, there is no reason for every single expenditure to be allocated to a team. We do budgets for reasons of team accountability; but still, as members, we remain accountable for the whole ASBL’s financial equilibrium. In fact, formal obligations concern solely the whole, rather than the teams. Why not start the presentation with the organization-wide numbers, then move to teams presentations?
I think it’s a luxury to bring this to the plenary. We can say this is under discussion and simply agree with the teambuilding. I think it should probably fall under team finance & legal.
Totally agree. Could we have a bucket called “general expenses”, then? If i understand correcty, what is important for the group is
- understand the status of the general spending and whether we are within the limits we drew (yearly budget estimation)
- give some clarity to teams whether they are not overspending
Hello @reef-finance and @ugne,
There’s a lot of things going on, and there will be a lot of proposals that need to be presented and then consented to. As we can no longer afford to lose any time, I was wondering whether you’d be willing to put an indicative estimate on when you’ll be proposing which topics.
The topics that I think we need to cover shortly:
-
The missing money (site & architects bill): bank loan or intra-group lending => proposal: what will we do, how will the cost of capital be covered?
-
Newcomers buying in their share: how much will newcomers pay for the site, and to whom?
-
The 2-4% mark-up: which percentage, starting when, plus how will the extra money be linked to the cost of capital of the missing money?
-
Société simple: final tweaks to the statutes
-
Société simple: Board selection
-
Valuation method for the units
-
Financial risk mitigation contract
The options for the dates are in the agenda document (saved in Team Reef: Login – Nextcloud), in a nutshell it’s 29/08, 15/09, 19/09, 30/09 and 15/10.
Can you please let me know when you could be presenting which topics? TIA!
1 Like
Hello Lee, below my humble thoughts, to be completed by Ugne and Alberto 
:
- The missing money (site & architects bill): bank loan or intra-group lending => proposal: what will we do, how will the cost of capital be covered?
We are currently exploring this within our team - mid September seems doable. - Newcomers buying in their share: how much will newcomers pay for the site, and to whom?
TBD within team finance - The 2-4% mark-up: which percentage, starting when, plus how will the extra money be linked to the cost of capital of the missing money?
If my memory serves me well, we concluded that this is best treated during a full members meeting. We could base the discussion on the existing proposal, it could therefore happen rather soon. - Société simple: final tweaks to the statutes
If I haven’t missed something then we are still waiting for a return from the lawyer and can then discuss. - Société simple: Board selection
There was a process put in place by Chris and yourself: SoSim board selection process - #11 by Lee I am not sure to what extend results from the first round are useable. Perhaps best to treat this upon Chris’ return from holidays? - Valuation method for the units
According to 2.2. of the contract with the architects, they will propose prices for each unit. I think we can only get involved once we receive their input (avant-projet). - Financial risk mitigation contract
I am not aware of this topic but perhaps Ugne and Alberto can jump in
1 Like
Thanks Richard, great update. Nothing to add, except:
I don’t even understand this. Does it mean the accord préalable?
Ok, so live chat caught up with this topic. The most up-to-date conclusions are in the “bilateral with Ugne” document.
On another topic: the mighty @Christian would like to join Team Finance & Legal, so I added him to your group tag.
1 Like