[privileged]
FYI on management and revenue issues at OMF.ÂÂ
James Bryce Clark, General Counsel, OASIS Open, setting the standard for open collaborationÂ
---------- Forwarded message ---------
From: Jamie Clark <jamie.clark@oasis-open.org>
Date: Fri, Feb 17, 2023 at 9:12 AM
Subject: OMF, OOEF, viability, quick notes for our upcoming call
To: Cathie Mayo <cathie.mayo@oasis-open.org>, Scott McGrath <scott.mcgrath@oasis-open.org>
From: Jamie Clark <jamie.clark@oasis-open.org>
Date: Fri, Feb 17, 2023 at 9:12 AM
Subject: OMF, OOEF, viability, quick notes for our upcoming call
To: Cathie Mayo <cathie.mayo@oasis-open.org>, Scott McGrath <scott.mcgrath@oasis-open.org>
As a top priority I'd like to hear what Cathie needs.
From a blank slate, though, here are the questions in my head. May not get to all of them today.:
- How bad is it, projection-wise? When (if at all) does the plane run out of fuel / hit the mountainside?Â
- Are we reliably sharing financial projection and revenue data (including bad news and risks of deficit), with the entire OMF Board? I believe we are obligated to do so. (What we learned from some prior staff directors is that sometimes they choose to hide the ball to secure their own salaries.)
- Do any specific projections or adjustments need to be booked in order to address the audit conclusions, since we're consolidated?
- At OASIS as you obviously know we manage shortfalls by (a) adjusting projections every quarter if needed, and then (b) getting ahead of it by adjusting expenses to match. Naive question: are we using (more or less) the same process for OMF?
- Has this set of OMF leaders been given a clear warning that (a) OASIS is not a backstop for their debts, (b) OASIS will not authorize any expenditures or continued payments which in our reasonable judgment are unlikely to be funded by revenue; and (c) the direct effect of that on their staffing run rate? I'm thinking we need to send that in writing soon, if we have not, for culpability and oversight purposes..
- Have we offered a soft landing in the form of an OASIS OP?
- Do we know if both of OMF's substantial outside grants (Rockefeller Fdn and Knight Fdn) have been 'honorably discharged'? Each final required deliverable delivered or excused, etc? OASIS put its reputation as a grant recipient on the line, and our officer signed it, so we're required to care about tidying that up, even if OMF leadership does not.
Thanks JamieÂ
James Bryce ClarkGeneral Counsel & CPO OASIS Open |
|