Here is an update on decisions from the Board meeting held last night.
It was a long meeting (just around 4 hours) and we were joined by David Pearson and Lawrence Card for part of the meeting to get finance and engineering updates. I'm grateful to everyone for making the meeting and to Mandy and Denise for interrupting their holidays to attend by call.
We approved the minutes of the previous meeting and of the general meeting held on 21st June.
David updated us on finance. To date wince 1st October, we have accumulated a surplus of around £15,000 and our cash at bank is around £46,000. The Directors feel this puts us in a good position and gives us flexibility but that we need to be thinking about how to sustainably increase our revenues to cover future costs. Unfortunately, our rent costs will be rising but we believe that our premises will still represent good value for money.
We approved new delegated authorities for people with team leader roles, and took a first look at budgets for 2018/19. These will be confirmed at our next meeting early next month. We also approved new membership applications and discussed our strategic approach to membership of the Company. The Directors believe that we should encourage the widest possible representation from our community as Members and endorsed the approach of encouraging more local people to take a stake in influencing how the station is run.
We discussed the need for the rules which govern how the Directors run the Company, our Articles, to be amended to reflect modern best practice and to help us better safeguard the Company given recent events. We will be consulting company Members later this month on our proposals, which we agreed last night.
We approved a significant piece of work by Denise, our new volunteer policies, and will be distributing these by post to all volunteers next month. Please update your address details on RV:INSIDE if you haven't already.
Lawrence updated us on the engineering team's work and plans and we approved spending and work on a replacement for our Myriad file server, a vital single point of failure which has been in service for over 3 years running continuously. We also approved some further expenditure on smaller items which are essential to our operation.
We discussed next steps on the operations manager role and agreed to defer a decision until early next month, to allow for a rapid strategic review to take place. Mandy will be leading the effort to determine based on our vision and mission our five priorities for the next year and the three things we need to achieve against each in the next 12 months. We believe that this may have an impact on how we shape the priorities of an operations manager role and so we should wait for this work to be near completion first.
As always, any questions please ask.