Pacifica National Board
Finance Committee Special Meeting, December 28, 2004


A special meeting via teleconference was convened at 12:40 p.m. PST by Dave
Adelson with Donna Warren serving as Secretary Pro Tem. Her meeting notes were
re-drafted into minutes on December 2, 2007 by Terry Goodman. No minutes were

Present: David Adelson, Beruti Bediako, Lonnie Hicks, Carol Spooner, Warren
Turner, Donna Warren, LaVarn Williams

Also present (guest): Max Blanchet

Absent: Henry Cooper, Alice Shields, Sandy Weinman

Pursuant to the motion from Bediako approved at the December 17th committee
meeting, the single agenda item for this meeting was the WBAI financial

CFO Lonnie Hicks discussed WBAI cash flow, budget, and balance sheet items, and
responded to questions from committee members. WBAI is short $50,000-$60,000
with no major red flags.
A potential cash flow problem was handled through early distribution of CPB
funds. If WBAI does not realize $1.4 million from its January drive (which can
be estimated through credit card receipts by the first week of February), that
will be a red flag prompting implementation of contingency plans for local
expense reduction and revenue reforecast so as to avoid impact on other units.
As of today WBAI has $328,000 in the bank with monthly expenses of $230,000.

The CFO is working on his year-end report to the PNB and will include a
discussion of WBAI issues in that document. Updated financials will be
available for committee review in two weeks.

Motion from Adelson that the committee meet via teleconference on January 11th
at 12:30 pm PST to finalize the committee's recommendations to the PNB.
Motion passed without objection.

The meeting was adjourned without objection at 2:23 pm PST.

Terry Goodman
PNB Finance Committee Secretary (2007)
These minutes were approved on 12/10/2007.