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LNC Treasurer Calls For Emergency Financial Meeting

With a tip of the hat to Sean ‘0 for telling us about this:

From: Todd Hagopian

Subject: Need Emergency Meeting On Financials

I would like to call for a meeting, of the entire LNC, at 8pm CST on Saturday, March 30th with the sole topic being financials and budgeting. Executive Session topics expected. Looking for co-sponsors.


In a separate message, Hagopian explained the situation:

Folks,

My request for a meeting is based on a major decrease in cash reserve adequacy month over month, which I think we need to develop contingency plans for.

I have sent a number of questions to the accountants this evening. I will work with them tomorrow and I will work to publish a report to the list by Saturday, if that is what folks would rather see. It will list out trends, challenges, root causes, and next steps to consider, which we can discuss at the 4/7 meeting.

I am fine doing it that way, if people would like. I know we all have too many meetings. I have had multiple meetings in the past few days where I have expressed sincere, and severe, concerns about financials. I do not feel that those concerns are being met with the proper amount of urgency, which is why I called for the meeting.

That is not a criticism of anyone. There are a lot of nuances about how the LNC handles our finances, including restricted funds, cash, cash reserve adequacy, etc. I just need to make sure I am putting the facts in front of everyone so that we are all on the same page about the current situation. I am not adamant that a meeting, where you are seeing the numbers for the first time, will be more effective than letting you read a report and us speaking about it more intelligently a week later.

Again, I am fine with submitting a report to the list, letting you all digest it, and discussing at our April meeting, so long as we are ready to act at that time, if necessary.

Let me know what you folks think. Thank you.


There was also background parliamentary discussion:

Enough co-sponsors were acquired. Secretary (unable to attend) objected, said meeting was out of order because there was insufficient notice, and quoted the policy manual. Chair agreed.


Malagon appealed the decision of the Chair, saying

“I appeal the ruling of the Chair.

I’m going to say this one time:

The Treasurer, out of nowhere, just called for a meeting with the subject line reading, “Need Emergency Meeting On Financials.” I’m willing to miss Easter Vigil Mass because this is very clearly important. If this could wait until the 7th, it wouldn’t be an emergency.

If we’re going to let procedure or general nonsense take precedent over things that actually matter, this Board deserves everything coming its way.”


Yeniscavich seconded: “I second the motion to appeal.

I too have plans this weekend. However, as Chair of the Audit Committee, I would like to hear the Treasurer’s concerns that caused him to request an emergency meeting. If this could wait until the 4/7 meeting, I believe the Treasurer would have done so.

I could call an Ex Comm meeting, but prefer for the Treasurer’s concerns to be heard by the full board, at this point.

I will await the ruling of the chair.”


Chair: An appeal needs 4 sponsors and will go to an email ballot and take up to 7 days. Alternatively, someone could just call for an excom meeting on the same night and invite the LNC to attend.


Hays: “I echo the sentiments of Mr. Malagon and Ms. Yeniscavich. I am now extremely concerned. I fear there is no wisdom in delaying this and I’d have the meeting tomorrow night if we could.”


Hagopian: “I have most of the report together. Need some numbers from the accountants to get the trend lines right. I will try to send the report out by tomorrow evening.”


Harlos: “Todd your plan sounds fantastic. Much more so than a rushed meeting on Easter weekend.

Use the confidential list, we can start to have the discussion, and be prepared for next week intelligently.

It’s not wise to have a rushed meeting, sprung on the list, to which at least on officer cannot go. It’s never wise to spring a meeting on everyone and a bunch then rush in to co-sponsor without anyone asking how is that date for everyone, I hope there were some lessons learned. This was done wrongly.

Anything super urgent can be done sparingly by EC, which reading the PM has no formal notice requirements.”


Hagopian Responded:

I understand it was uncomfortable, but I do want to reiterate that a meeting on five days notice about urgent party finances was not an unreasonable ask versus some meetings that have been requested on shorter notice recently and others that have been requested on shorter notice throughout this term.

I intend to publish the document on the public list as it has only public information. It will both dispel some of the misinformation out there to the negative, but also show some of the urgent things that we do need to consider and discuss.

3 Comments

  1. Darryl W Perry Darryl W Perry March 27, 2024

    Malagon has called for an Executive Committee Meeting ” for Friday, March 29, 2024 at 7:30 p.m. EDT which any LNC Member who wishes is welcome to attend.”

  2. George Phillies George Phillies Post author | March 27, 2024

    Hagopian has now stated that his report will be public.

    • George Phillies George Phillies Post author | March 27, 2024

      Hagopian’s two reports, covering January and February, are now public.

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