No, the bank error saved the space. It worked out to a $5000 intrest free loan. We did not know there was a deficit until the new board took over and the bank noticed their mistake. Luckly we had already raised enough funds to cover the shortfall.
Was that deficit due to the bank error?
I am looking into the discrepancy. There may have been a difference in how memberships are reported as there was a change in treasurer and software used for tracking memberships. I think Family Memberships were being broken out.
We are in a need to increase membership revenue despite a recent uptick in new members as motioned in my report.
The finances have been steadily improved from three years ago when the Makerspace was in deficit.
The majority of revenue in 2020 if my memory serves me was from COVID programming as membership revenue was very low during the shutdown. Average membership across both years is up.
From the meeting:
● We’ve seen an increase in usage of the makerspace
● Bringing on new members at a decent rate.
● 34 memberships
● Finances have improved from 3 years ago
Just wondering what the source of the improvements are?
In 2020's AGM the membership was at 71 (December is typically a peak) and average membership was 35.5.
Revenue in 2020 was $56,400 with both Covid related revenue and expenses.
Is average membership (and by extension total yearly membership income) up?
AGM Meeting Minutes December 13, 2021Board Meeting Minutes Dec 13, 2021
Hey guys! Here are the meeting minutes for the member and board meetings.
Also, is there a constant zoom link we can use for the meetings? I'd like to make a post asap in the forum with the zoom link for the next meeting. I also think I'm going to create a new forum category in the members sections just for meetings, similar to how we have here in the board section.
I was also absent and would like an update! Especially re: increasing membership fees. Thanks!
Was tied up last night and unfortunately could not make it.
How did the AGM go? Is there a new board?
Can someone please post this as an event to the Facebook page? At the very least it's a convenient secondary place for people to find the zoom link.
The cost of running the Makerspace has increased steadily over the passed few years. Now, with the rate of inflation in Canada increasing substantially, it feels right to increase propose an increase in our membership costs. I'm suggesting that in the new year, we raise our monthly membership prices to $80/month for an individual and $110/month for a family. This seems fair as it is a small increase in cost that could have a significant impact on our monthly fees.
Here is the Zoom link for this meeting. Hopefully, we can do an in-person/hybrid meeting. However, we are planning for online-only until closer to the event.
Join Zoom Meeting
13 December 2021
Call to Order:
Approval of Agenda / New Items
Approval of 2020 AGM Minutes
Election of Directors
Comments and Announcements