How (if at all?) shall we 'tier' or 'prioritise' Dignity's liabilities?
Luke Flegg
Public
Seen by 269
'liabilities' = money Dignity owes (either reimbursing expenses like train tickets, or paying for team hours)
I ask this because I recognise Dignity has no funding left at the moment and we're paying for various things out of our own pockets, as well as some of us hoping to get paid for our time invested thus far.
We've discussed some of these things being paid 'first' or 'only if we get X amount of funding' for example - now I invite us to explore the best option for prioritising these liabilities.
Test 2
Sat 16 Jun 2018 6:26PM
No
Test 2
Sat 16 Jun 2018 6:26PM
Testing
Pasco
Sun 17 Jun 2018 9:10AM
Why is Tier 2 the default on Wirke? When Tier 1 is very likely to be the most common for hours?
Pasco
Mon 18 Jun 2018 6:25PM
Tier 1 defaut Wrike, hozaar :)
Luke Flegg Fri 27 Jul 2018 5:52PM
@pasco I think we could add more clarity to this re: which is paid first: Tier 1 hours or Tier 1 expenses?
To be 100% clear, I propose when Dignity has money next, we pay liabilities in this order:
1. Tier 1 expenses - starting with the oldest recorded; same for all tiers:
2. Tier 1 hours
3. Tier 2 expenses
4. Tier 2 hours
5. Tier 3 expenses
6. Tier 3 hours (that's the time I'm logging for writing this comment right now, because I'm usually choosing 'Tier 3' when logging my hours in Wrike at the mo, and I accept that it may be a looong time or never that I get this time paid! Maybe one day when Dignity has surplus. And we would find a way of recording in the official accounts that this isn't 'debt' that puts Dignity in the red. How exactly we do that in the eyes of the law is up to our financial advisor; could be dividends/ bonuses/ shares/ etc, I don't know enough about legal/finance.)
So what would be counted as actual debt? I propose only Tier 1 expenses.
That feels like quite a significant clarification we haven't really decided yet so I am thinking this is worth a new proposal on here, just to create a clear breadcrumb we can quickly easily refer back to any time. I'll here your thoughts though first mate. And @andrewevans , and @alfredseni if you're interested in closing this loop with us! @gailbainbridge might even be up for chipping in? :heart:
Gail Bainbridge Sat 28 Jul 2018 7:31AM
So about hours. You can’t really pay yourself hours unless you have a payroll set up as ‘hours’ suggest an employee relationship. Additionally it doesn’t really become a debt (in accounting terms) until you have processed the wages with HMRC. You guys need
to sit down with a qualified accountant I think and get clear on this stuff. I’m not taking on anything while I’m travelling xx
Luke Flegg Mon 30 Jul 2018 4:02AM
Let the sitting begin
Luke Flegg · Mon 18 Jun 2018 2:48AM
Good question.. I guess if we have unrestricted funding then hours should be higher priority by default. Obviously if it is restricted grant funding then it can only be spent on expenses...
If this was a bigger amendment I'd propose I/you block this and either of us create the amended proposal, but since it's quite a small detail I suggest I just edit this one too include your amendment and we continue