BOD Telecon Meeting of Jan 31, 2017

Activity Date: 
Tuesday, January 31, 2017

Agenda:

6:30 PM (PST)



Happy New year 
 
here is proposed agenda for Jan 31st board meeting:


Host/Moderator/Record-keeper: Ramesh, Anand, Alka
CONSENT AGENDA 5 mins                                               
Approval of the Minutes of Nov. 29th board meeting 
 
REPORTS         25 minutes                                                                                                              
R1. Fund Transfer update   to FFE (BOD input reqd)     Ramesh Y        5 mins
R2: International team meeting update (Request to process DA from EU etc) Neil5 minutes
R3. Washington DC chapter meeting report                Prabhat Sinha/Brij                 5 minutes
R4: Financial Report                                                  Anil Singh                                  10 minutes

DISCUSSION ITEMS                                                                                            30 minutes                                                                                           
 
D0: Put Resolution to put the membership fund utilization effective Jan 1st 2017  5 minutes
1: 50% of the membership dues should go towards Scholarship Funds (US and Campus)
2: 40% of the membership dues should go towards expenses as approved by board
3: 5%  of the membership dues should go towards the reserve funds
4: 5%  of the membership dues should go towards special projects
 
D1: North America Alumni children education - Divy                                              5 minutes
 
D2: Our Past President put a question that for FFE why only three donors   5 minutes
 If bard members believe in it then why they are not supporting it.
 
D2: Organization SustainingRamesh15 minutes
 
       Start monthly auto pay of $ 5 per month for membership process
       Suggestion: Start this implementation with each each board member contributing.
 
Source of funds: Membership and Donation
  • Organizational Expense (Alumni Meet self supporting etc)
  • Reserve Funds 
  • Scholarship Alumni Children US / BIT Campus
  • Special projects including Infrastructure support (at Campus)
  • Projects out side of Campus (Toilet, India Chapters support etc)
 
D3: What’s high on your mind   - all                                       10 minutes
 
UPDATES and new Business                                                                               10 minutes                                                                                                
 
New Business, if any                                                            
 Next Meeting: Tuesday, Feb. 28th. 2017


ADJOURN hopefully by 11:00pm ET
 
 
 
 
 
 
Information:
 
The endowment at FFE for BIT Sindri will start with: 
1:  13 Lacs (To be transferred from BIT Sindri Sweta Kumari)
2:  $2500 donated by Dr. Vijay Kapoor
3:  $700/year donated by Mr Ranjit Sinha (One girl Chemical Engineering)
4: $3000 donated by Ramesh Y
 
We have  to increase this list from three donors to thirty and to 300 and more. With all of us working together we can make it.
 
 
Input: 
 
1: Mr Ranjit Sinha: The Infrastructure % amount should be higher
At this time all the infrastructure expenses are supported by Jharkhand Government. So the suggestion is to support projects which are not in the list of government eg Special Lab equipment based on need defined by individual labs at campus.
 
2: Dr Neil Pundit: Currently all the alumni meet run in deficit, create program that they are self sustaining. 
 
FYI Only Presented in last board meeting:
Let us keep on discussing the fund sources and distribution
1: 50% of the membership dues should go towards Scholarship Funds (US and Campus)
2: 25 % of the membership dues should go towards infrastructure support at campus
3: 5%  of the membership dues should go towards the reserve funds
4: 5%  of the membership dues should go towards special projects
5: 15%  of the membership dues should go towards expenses 
 
In addition a scholarship donation button should be added for members to donate. 
 
With above proposal every member becomes a donor for scholarship/Campus Infrastructure/special projects etc.
 
Based on this and historical membership collection over last 3 years come up with budget of organization.
 
Your inputs are most welcome