Cooperstown Chamber of Commerce

Finance Committee Minutes

December 1, 2008

Meeting opened at 8:35am

Committee members present: Jane Duel, Scott Dunlop and Becky Davidson-Neilsen

Chamber staff present: Susan O’Handley, Executive Director and Angela Chadwell, Business officer

Accounts Receivable from the Treasurers Report were discussed and the only account outstanding at this time is PumpkinFest, one non-food vendor Aryeal Coletti. Angela will continue to bill and call Aryeal to collect on the $10 fee. No one will be allowed to vend until paid in full for all future events.

Chamber membership for 2008-2009 Accounts Receivable were gone over in detail, 176 members are outstanding for a total amount due of $78,940.00. The December statements have gone out. Money seams to be coming in steadily and even more quickly than years past.

Our Tax Return for fiscal year end 9/30/07 have been completed and submitted. RFP’s were solicited for fiscal year end 9/30/08 to chamber members Judith M. Brown – C.P.A., Devaney & Associates, CPA’s and Raymond E Holohan, CPA. Tom Devaney from Devaney & Associates is the only one to have submitted a proposal. His proposal to complete our Federal 990, 990t and NY CT13 was discussed and Susan will call him to let him know that we would like him to take care of these returns for us.

It was noted that our By-Laws had been updated to state that an audit is to be done every two years not every year.

The Chamber Membership Dues and Advertising Payment Plan has been updated to reflect spreading out the payments due up to 6 months with finance charges each month and lowering the limit to $500.

The Budget versus Actual report was gone over in detail. The Insurance Commission Income line will be removed. Line 73 details will be email to the committee members.

Trades listed on the Treasurers Report were discussed.

Susan will be producing a printed newsletter this month. Included in it will be a notice that no other company will be allowed to promote themselves under the auspices of the Chamber when attempting to sell a service or product to our members.

Susan will look into the relationship with 4C’s (Cooperstown Community Christmas Committee) and Santa’s Cottage.

The next finance committee meeting will be held on 1/12/09 at 8:30am at Wilber Bank on Main Street.

Financials will be emailed to the Board of Directors before the January board meeting.

Meeting adjourned at 10:05am.

Submitted by Angela Chadwell