Grandpa Simpson escapes from the Happy Valley Retirement Home, & ends up elected temporary Chair of the W28Dec2022 KPFK Finance Cttee

. . . Dan McCrory is also Chair of the KPFK Community Advisory Board . . . things are really looking up . . .


Audio (first few secs missing; some dead air right at the end; but it should be at within the next 24hrs): (2h09; 180MB)

[UPDATE: sure enough, there within 2hrs (add 49secs to the times below).]

GM Novick said (a) he received today the Sep monthlies (1:23:22), so not reviewed by the PNB Finance Cttee (irrelevant, given the glaring errors missed in the Aug ones); & (b) “the station needs [revenue] in the vicinity of $20 000 a week, at a bare bones budget” (1:30:40).

The Aug monthlies are a complete mess – such as ~$140k of WBAI’s Aug revenue not appearing in the totals column! See updated post on the 30Nov WBAI Finance Cttee: Once corrected, one will be surprised to learn that for the fiscal year thru Aug2022, 11mths, KPFA made a bigger loss than WBAI, not only that but a bigger loss by a whopping 61%: $282 634 compared with $175 721. They don’t tell you that at the KPFA LSB –

But KPFK needing only $20k revenue a week? That’s a material contradiction with the latest relevant public doc: $43k. Enter stage left, the draft FY2023 station budget, presented by then Treasurer Kim ‘(sigh) yes, Bella (sigh)’ Kaufman to the Su28Aug KPFK LSB. Drawn up by Kim & then CFO Julia Kennard (remember her?), of NETA (remember them?). Had FY2023 total expenses as $2 219 403 (operating, $1 718 535 + Central Services, $500 868). Per week, that’s $42 681 (operating, 33049 + CS, 9632). Nowhere near $20k, people.

Of course, no-one on the KPFK Finance Cttee pointed out the discrepancy.

And how can needing $20k a week even be plausible? According to the draft budget, weekly personnel costs alone are $21 154 ($1.1m ÷ 52), & then there’s Central Services, a weekly $9 632 (not that they’re being paid). Additionally, other costs keep coming in at ~$12k each & every week.

Two months ago, KPFK’s financial crisis was fully discussed, in the light of the drive then underway, in a 25Oct post (with a final update 9Nov):