Notes from Finance Committee Meeting –

November 9, 2009

Members Present - Becky Davidson-Neilsen, Jane Duel, Scott Dunlop

Staff Present – Angela Chadwell, Susan O’Handley

Discussion of revenues from Memberships and Area Guide ad sales. Both well short of YTD 2008-09. Important to get a realistic idea of exactly what ad sales will be in order to continue planning for 2009-10 Area Guide. If sales are predicted to be substantially below 2008-09 revisions to plans for the guide will have to be made. Susan has a list of last year’s advertisers – those who have taken out ads for this year are indicated.

Agreed that calls must be made to all those who have not yet sent in ad payment to find out if they plan to advertise, and to tell them that their payment are due. Same thing must be done for those who have not renewed.

Discussion of remaining acts. Payable. One member has not paid 2008-09 advertising, is still on web site. Asked Susan to take them off immediately (today).

Discussion of payment policy. Scott and Jane understood Andy’s e-mail of October 30 to mean that the policy drafted by Susan to be put in place immediately. This has been discussed for 3 years (or more) and needs to be implemented immediately.

Discussion of trolley advertising. Trolley group wants an ad in the Area Guide (inside cover - $4000 retail) for $1500. They also have decided to go out to bid on the selling of the advertising for 2009-10. Agreed that Susan should renegotiate the contract or answer the RFP) to increase the percentage that the Chamber gets to equal $4000 then the reduction in ad cost will be acceptable. Agreed that if the Chamber doesn’t make that much, Susan’s time better spent selling high revenue ads to others rather than the time spent selling the trolley ads.

Have received check from other outstanding member on November 6. Has not cleared bank as yet.

Susan and Angela will put together a report for the area guide ad sales and membership dues to show the total amount received – both those payments that have been processed and those that are awaiting processing for the meeting on Thursday. Need this to give the board a realistic picture of where we are as of that date.