ID 672 – Proposal to Approve 9,000 Dollar Loan from Green Party Members

[Ryan Jones]

http://green.gpus.org/cgi-bin/vote/propdetail?pid=672Proposal DetailsProposal ID 672Proposal Proposal to Approve 9,000 Dollar Loan from Green Party MembersPresenter Steering CommitteeFloor Manager Susan ChuncoPhase VotingDiscussion 05/28/2012 - 06/03/2012Voting 06/04/2012 - 06/10/2012Presens Quorum 0.6666Consens Quorum A Majority of Yes and No VotesBackgroundThe GPUS Fiscal Policy, Article X Loans, 10-1 Reasons for Loans, states that GPUS may take out loans to cover seed funds for special projects. The funds sought in this loan proposal loans are seed funds for ballot access work.The GPUS Fiscal Policy, Article X Loans, 10-2 Approval, states that loans in excess of a cumulative 1% of the Annual Budget (for 2012 $3270) must be approved by a vote of the National CommitteeThe National Committee has previously approved five proposals for interest-free loans from Greens:Proposal 262, March 2007, for $9,900; repaid within four months.http://green.gpus.org/cgi-bin/vote/propdetail?pid=262Proposal 334, January 2008, for $9,600; repaid within two months.http://green.gpus.org/cgi-bin/vote/propdetail?pid=334Proposal 353, June 2008, for $15,000; repaid within six monthsexcept in eighteen months by permission of the last two loaners.http://green.gpus.org/cgi-bin/vote/propdetail?pid=353Proposal 398, June 2009, for $25,000; repaid within six months.http://green.gpus.org/cgi-bin/vote/propdetail?pid=398Proposal 431, December 2009, for $30,000; repaid within thirteen months.http://gp.org/cgi-bin/vote/propdetail?pid=431The Steering Committee requests approval for interest-free loans from GreenParty members totaling no more than $9,000. This amount added to the loans of $3,000 authorized by the SC as provided for in Article X Loans, 10-2 will bea total of $12,000 in loans to be used for funding ballot access work.Proposal1. The National Committee agrees to accept interest-free loans from Green Party members not to exceed $9,000 to be added to the $3,000 in loans approved by the SC for a total not to exceed $12,000. These loans will be used for funding ballot access efforts.2. Loan repayment will be coordinated with repayment of State Sharing amounts still owing as follows: first the balance of 2008 state sharing, then alternating amount to loans and 2009 state sharing according to the debt repayment plan for state sharing passed in 2010.3. It is our expectation that loans can be repaid over the course of the next twelve to twenty four months, or as quickly as fundraising permits.ResourcesLoan FundsReferencesGPUS Fiscal Policy http://www.gp.org/documents/fiscal-policy.shtmlINTERNAL DEBT REDUCTION SCHEDULE - approved by SC late May 2010.The First Phase of Internal Debt Reduction will be triggered when there is $3k in hand after a month's expenses are covered. The First Phase will put all earmarked funds for caucuses (currently $2565) into the reserve account and notify the caucuses that they are encouraged to forward requests for funding to the Finance Committee for recommendation to the Steering Committee. (COMPLETED)The Second Phase of Internal Debt Reduction will be triggered when there is $4k in hand after a month's expenses are covered. The Second Phase will put all earmarked funds for committees (currently $3900) into the reserve account and notify the committees that they are encouraged to forward requests for funding to the Finance Committee for recommendation to theSteering Committee. (COMPLETED)The Third Phase of Internal Debt Reduction will be triggered when there is $7k in hand after a month's expenses are covered. The Third Phase will pay out 2008 national-driven state sharing not forgiven. (NEARLY COMPLETED)Future phases of debt reduction are envisioned to be:1. 2009 ND state sharing - payments to states that forgave 2008 ND state sharing ($5.5k)2. 2009 ND state sharing - payment to states that didn't forgive 2008 ND state sharing ($5.5k)3. Reserves - begin building (up to total of $40k)4. Loan #431 - repay $17k (use Juoni Trust in Jan 2011 if not already repaid) now reduced to about $14k because of loan forgiveness (COMPLETED)

[Ryan Jones]

I have voted yes on this proposal.  While I am concerned about the National Party using state sharing funds for loans, I feel that ballot access is a very urgent matter and that ballot access campaigns do great work for growing the party.  The GPUS also has a very good reputation of repaying loans like this in a timely manner.My vote can be changed but only up to the close of the vote this evening.

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