Reading of the Minutes

Douglas Moore read the minutes from the 2024-05-22 meeting.

Create and Hire for the Position of Operations Specialist

Discussion

39 Alpha Research will officially create the position of Operations Specialist to support the execution of the ARPA-E GeoH2 project.

Tucker Ely will draft a hiring package, to include an hourly wage of $30 and 35% benefits, for the position and initiate the hiring search.

The Board will reconvene in two weeks time to approve the hiring package and new hire if one is so available.

Action Items

Sublet Office Space to Emily Ely of Eleos Health

Discussion

The office space currently leased from Industrious has a monthly licensing fee of $2,746.00. 39 Alpha Research has budgeted $2,500.00 for office space. To make up the difference, 39 Alpha Research will sublet a desk to Emily Ely of Eleos Health at a rate of $300/month with the option for a $107.72/month parking pass.

Conflict of Interest: Emily Ely and Tucker Ely are spouses. Tucker Ely recused himself from the vote.

The motion sublet the desk to Emily Ely was made by Tucker Ely. Cole Mathis seconded. The motion passed by unanimous amongst voting member.

Action Items

Hire Rob Paull for CPA Services

Discussion

Tucker Ely and Cole Mathis had an initial meeting with Rob Paull regarding his services as a CPA. If hired he would provide the following services:

• File 990N tax form (estimated $1500/year)
• Basic bookkeeping services (estimated $2000/year)

The motion to hire Rob Paull to provide CPA services was made by Cole Mathis. Tucker Ely seconded the motion. The motion passed by unanimous vote.

Action Items

Capital Equipment Policy

Discussion

Cole Mathis drafted an organization-wide policy for assessing the deprecation of capital equipment.

• The policy will apply to all captial equipment with purchase price exceeding $5,000 and an expected lifetime greater than 2 years.
• The value of capital equipment will be reviewed and adjusted annually by the Treasurer, or by an employee designated by the Treasurer.
• The value will be assessed based on warranty value, manufacturer trade-in value or the value for similar items available via at least three online retailers as appropriate.

The Capital Equipment Policy was read and reviewed by the board and approved by unanimous vote.

Purchasing Policy

Discussion

Cole Mathis drafted an organization-wide Purchasing Policy to facilitate financial reporting to state and federal funding agencies. The following information, at a minimum, will be recorded within 15 days for each purchase made with the 39 Alpha Research bank account:

• Item and Description of Need
• Cost
• Reciept or other record of purchase
• Payment Method (e.g. debit card, wire transfer)
• Was the purchase in direct or indirect service of a grant or contractual agreement?
• Source of the funds
• Addtional requirements are set by the Capital Equipment Policy for purchases exceeding $5,000.

The Purchasing Policy will take effect immediate. Purchases preceeding the date of enactment will be excempted.

The policy was read and reviewed by the board and approaved by unanimous vote.

Accouting and Banking System Discussion

Discussion

Cole Mathis reviewed how 39 Alpha Research is approaching the financial account management.

Action Items

Next Meeting’s Agenda (2024-07-17)

• Approve Hiring Package for Operations Specialist
• Approve new hire for Operations Specialist if available
• Approve Sublet Agreement for Eleos Health
• Approve Benefits Package if available
• Review Financial Reporting Procedure
• Confirm Hiring of Rob Paull for CPA Services