Election Updates
1. Items of Business updates: delivered by Kenny
#4. Member Participation in Governance [Kenny Rowe]
- Governance Committee scheduled to meet the week of 21st
#5. Monetary Policy [@ysgjay]
- No update
#6. RChain Improvement Process [Working Group]
- Draft Charter
- No update
2. Governance Committee
- Charter and members approved
- The first meeting to be the week of Jan 21st
3. Board Meetings from
- Meeting held on 1/10: no minutes available yet
- Approved minutes from the previous meeting
- Approved Governance committee charter and members
4. Initial Work from the Audit and Finance Committee
Status of the external audit
- Begin the process for appointing for appointing an external auditor
Draft financial statements
- Review copies of the historical internally-prepared financial statements To understand changes between periods
- Review financial statements that the external auditor will be
tasked / is being tasked to perform an audit upon
Tax computations and tax reporting
- Review tax computations and any draft tax reporting prepared by the appointed tax consultants
Bank statements
- Review month-end bank statements and any bank reconciliations performed, in relation to the monthly balance sheet
Accounting policies & procedures
- Review all accounting policies
- Review current reporting procedures. To understand the preparation and reporting cycle, and any approvals or checkpoints in such preparation and reporting
Accounting systems
- What accounting system does the Co-op use? We need to find out about the reports we can currently generate out of the system (and any limitations)
- In relation to this, we would like to subsequently get a copy of the latest reports generated out of the accounting system (raw report)
Budget preparation & updating
- Review a copy of the budget preparation procedures
- How is the budget constructed and what approval process does it go through?
- What is the process for reviewing & approving updates / edits to the budget?
Internal controls
- Review internal control policies and limits of authority (if any)?
- Review whistleblower policy (if any)?
Upcoming Dates
- Q4 financial report due Jan 2019