Time

Developer Initiatives: Chicago Coder Conference, Goto; Chicago, TechNexus Panel on Security, Chicago FTW Start with Security Panel
Organizational
- Staff meetings
- Hiring follow through for STC
Minimal Bill payments
1:1 with staff at AppSecEU

Vice Chair's Report - Josh Sokol

I've got nothing major to report here so let's save the time for some of the bigger discussions that we need to have.

Treasurer Report - Andrew van der Stock

From January to around at least April, OWASP had operational reserves far less than the target operational reserve target of six months. This is due to a lack of revenue, unbudgeted expenses, and a split model that favors one strategic goal over all others. Luckily, the success of AppSec EU has made a recovery possible, and provides breathing room until this is resolved.

Unfortunately, the 2016 draft budget was never finished, and it was not approved. We need to approve a revised 2016 budget. There will be a budget working party held in Rome to get through this out of cycle budgeting process that will hopefully put in a reasonable budget for the rest of the year until planning can start again at the October face to face board meeting.

I have created a set of financial motions that address revenue, such as a membership fee increase, additional membership classes, a training program, and to invest $250k of our unused earmarked funds in a structured investment program. These measures will collectively increase our membership, particularly in the developing economies, and improve our bottom line by over $100k per year, with an additional $60-75k over five years from investing the earmarked funds.

We will need to work together on structural reform that addresses the profit splitting more equitably so that future operational reserves do not go below six months, and so we can invest in all of our strategic goals, and not just one. This is not optional, because there is a risk that a future AppSec conference does not do well, as happened in 2012, this could bring OWASP down. We need to address this structural reform so that we can grow to a $5m per year organisation, which has far different issues than we do today.

Josh Comment: AppSecUSA 2012 was the highest grossing AppSec conference ever held at the time. Not sure where this comment comes from, but it is wrong.

Financial information

June financial package

- TBA

2016 Draft Budget

- TBA

Financial motions

Motion to invest a portion of unused funds in a ladder CD arrangement

- https://docs.google.com/document/d/1cZOMYzaRnWW_oQd4ON7kBNQcmlx3V4u33Szm8jH2cgU/edit#

Motion to approve changes to FY17 membership rates

- https://docs.google.com/a/owasp.org/document/d/1RBy7yRl-qVo49lDL1JeKmhwLElcazrJ7tY4OO5Wwb6U/edit?usp=sharing

Motion to add a developing nation membership class of $USD 20 annually

- https://docs.google.com/a/owasp.org/document/d/14OBSW4kcsFsuEGyGg1K8UXkuoYQAzdY49gvXmkUiYyg/edit?usp=sharing

Motion to establish a pay anything membership class, eliminate honorary membership and establish an annual Paul Ritchie Memorial Award

- https://docs.google.com/a/owasp.org/document/d/1GTcff47NFDgFCnnFTvaEehdecc-TU2PWjAqc9x470Vw/edit?usp=sharing

Motion to create an OWASP open training platform

- https://docs.google.com/document/d/1dZ-6eJyNj5iiTTo9AS5NC77PYwOF0D9aTHz8dmcJGJ0/edit#

Secretary Report - ##########

Need to assign this role to a current board member to fill vacancy - why

Updated from Members at Large - Tom Brennan, Michael Coates, and Tobias Gondrom

Coates - Chapters

Gondrom - Governance

Brennan - Projects

Reports

Executive Director/Operations Update - Rollup Report
- Financial Update - [Link| Board Summary Combined] [Link| Combined Balance Sheet]
- Director Update - Kate Hartmann - see rollup report above
- Project Coordinator Update -DRAFTClaudia Aviles Casanovas Update
- Membership Update - Membership Report Kelly Santalucia Update]
- [Link| Conference Manager Report] - Laura Grau
- IT Update - [Link| IT Status Report as of 2016-05-17] - Matt Tesauro