25.01.12 Finance WG Meeting Summary

Finance’s Docs 25.01.12 Finance WG Meeting Summary

Date and Time: Wed, 25.01.12 10:30 am

Location: TEA Cafe

Attendees: Em & Vica

This was considered an informal meeting, as the 4 other members were not able to attend.  Nevertheless we thought it was necessary to start addressing some important issues.

Signatories meeting:

– Contact last people in doubt

– Describe current situation

– Are we ready to go ahead to open the account?

Email from donor:

– explain that we are receiving only monetary donations for individuals

– that we have a limit of £3000

– that we are more interested in receiving donations in kind (use of land, buildings,etc)

People’s supermarket:

– we suspend delivery to LSX kitchen and BOI kitchen for next week

– we ask to continue the delivery to Finsbury Sq.

– we ask for past receipts.

Autonomy of WG:

– we need to give some clear guidelines about transparency, the implications of selling and suggesting donations, and the need or not for a legal status

– we need to be informed of autonomous initiatives of raising money. Not to control them, but just so we know what is going on, and can give informed responses if asked about them.

– A few other themes were touched, but we thought they were not in the remit of the Finance Team, but rather of OccupyLondon as a whole:

– should activities be not for profit?

– should the activities reflect occupy principles?

– who decides how the money is distributed? The WG or the GA?

– it will be inevitable that certain projects attract more money, how do we make sure that we don’t create “economic inequality” within the movement?

Communication within Finance WG:

– we should set up a groupspace for the WG

– suggest to the rest of the Finance WG that we have open meetings Wednesday afternoons


– make prints of bank statements for all Finance Team

– make prints of total money in and out of the past months for Finance Team

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