So we'll talk about oral communications at this point as anyone that wishes to address the board Seeing none We'll move on to consideration of late additions to the agenda our addition and deletions to the consent and regular agenda And we are going to move item four Approved minutes to the regular agenda will be the first item on the regular agenda will keep the number four and That leaves the two items five and six on the consent agenda They are the finance committee minutes from last Monday and the finance committee recommendation to accept the March 2018 financial reports Tom could you talk a little bit about that? We reviewed the financial reports and Our revenues are up a little bit for the satellite services this past month, which is good going in the right direction And I think that's really all we need to say about that I'll make a motion to I'll go ahead and second that Great, we have a motion in a second all those in favor say aye. Aye. Aye. Opposed? Abstention see man. Let's move to item four minutes and Tom Yeah, I want to actually amend the minutes for item nine Which was considerable? Just to clarify Contingent upon the landlord agreeing to some Changes for the future. So let me read how that would Executive director read reported that there will be security patrols in addition to the cameras Not sure if cost will be one time ongoing director man time wanted to make sure that Reimbursement of security cost to the landlord is contingent upon landlords Executing changes to the master lease that ensure future capital improvements are only made after consulting with tenant Do you have that I didn't write it in written Or I can hand that to you with thank you very much And then continuing on I Guess actually that would be the end of so from the point where where it says make sure that All of the following the remaining language there at the last of that sentence will be replaced with what I just And it should say motion to approve as Amended yes, my motion all that's right my motion on that item Was to approve the item as amended? So we have a motion and a second on approving the amendment proving the minutes as amended For extension Seeing none we'll go on to the report of the executive director Well And as Tom said we are up this month we're up about all our offices are full and We have one office that we have for people that have buckets of hours, but that's more than And there's a lot of activity in the cafe, so we're really excited about that There comes the report on closed captioning So we're providing live captions now the board of supervisors meetings are going out live and Good They're raw captions though there can be errors and so we'll be cleaning them up But and we have got that part of the work flow going as well the guys have a chart that's Really fun to look at about where all this stuff goes as it flows through our various channels and And the ways that whether it's live or a stream or on cable or on our website Or on your phone. It's a whole deal. So right now most of it's happening We are captioning the live meetings, which is good. We have we are captioning we're fixing the captions And so when they're rebroadcast they're captioned correctly When they stream live Our player doesn't allow as it stands now our player doesn't allow closed captions And we've always been sort of mystified by that because you know, it's the law So how could anybody use that player if they don't have captions? And we've discovered today that it might be Victor thinks it's a switch in the elemental that we need to turn on and once the Captions once the player sees the captions come it'll a Switch will appear there so we can turn you can turn on or off closed captioning So we think it's a two days away from being finished And that would be our last hurdle once we can get captions on the live stream We're good. So we're almost there So We are also streaming live now a couple of our channels we're We can't stream 25 sadly. We can't stream our public access channel because Well, we stream it on our player, but we want to stream it with captions and We so we had moved of all our streams were live on YouTube, which is pretty cool They look great and the player is easy and you can search for things But they won't allow us to play our regular one of our streams the public access stream because Democracy now is commercials independently or something that YouTube thinks are commercials So we're having a little trouble with that So two channels are being streamed live on YouTube and the other one is just in our player, but we'll work that out We just it just happened Over the weekend they're booted us off. So we'll we'll figure out why and we'll get that fixed We did 15 government meetings in April or we will by the time April was over and We did some work in the in the co-working center. We under the equipment and facilities heading We painted the trim on all of the doors on this side of the building. We changed it from braid around and Next Thursday Muralist will come in well Not a muralist actually is a wallpaper hanger who will come and put this beautiful mural on the wall there That will look like Ivy and it'll go floor to ceiling in a building. So then it's gonna look very nice over there and We're also getting blinds for the windows in the offices because some of the we have some doctors who come and They need privacy those are the interior windows Yeah, some of them we have a couple psychologists to come and use the offices and they would rather close the blinds so we're getting bids on blinds we can use on the inside of those offices and We are working I'm still working on the kitchen. I got a design for peninsula and it looks it looks very nice And I just it just that they don't have the right their wood colors don't match the colors that are in the kitchen So they have a maple and we have the lawn wood. So we're working now on maybe a painted version. So I'll keep you posted Let's see we bought Some new equipment this month for professionals We have we got them from a friend of Matreas a very nice camera dolly So and it's a real it's a nice easy one the camera dollies that I'm used to working with have actually metal tracks like trains We can come all together and they're really heavy to store and this just has kind of a round Like rubber tube that it rolls on and it's very quiet and smooth And it'll do two things that'll do on it'll go on the tracks Or you can just it has wheels and you can just roll it around in a studio like ours with a nice black floor We can do that and so that's a it's more of a it's a more advanced piece of equipment But that's what we're hoping to offer is you know We want to be the resource for producers who who want to do really high-quality work, but can't afford that equipment so we bought that and we're also working with a Local company that does a lot of photography, but and so They would like to have the right lighting for it and they can't afford to invest in the whole package But they would be able to pay rental fee So we bought it and they'll be renting it and it should arrive here Hopefully before May 1st, which is when they'd like to rent it so and they'll rent it throughout the year That'll be good for us and then it'll be available There's lots of DSLR users and these are stroke like especially for them And so we have we have three of them and some fun things that go with them to help shake the light so I like to say in the biz and With some boxes and stuff like that remote control and things so it should it's a very nice kit And it's what everybody wants to use so we should get a lot of good rentals out of that I Signed and last week I talked to you about our last minute last month I talked to you about a local ad agency that I was working with it's a Google partner to see About a marketing plan for us So they they did create a really nice marketing plan They're hardly charging us anything to do it because they just they like to work with nonprofits But usually what they have doesn't work with the Google Plan for nonprofits, but because we actually have things like equipment rentals It works so they're real excited to try it So I'm working with them on that now I signed the contract and I have to do I have to give them some language and for our websites that We want to build a more robust about page on our website that shows what we do as a nonprofit in a bigger way We have a nice mission statement, but it doesn't really show that we have you know We're giving high school kids equipment or that people can come here and learn and we need pictures and a good story so we're working on that and we have a new marketing intern who's Focuses to promote the studio and she's been in a couple of times so far only two times we've been here about she's done a great job So I expected things for her and that's kind of it. It's kind of a short report, but We are we're in profit for April, which is really good and significant me So it's not like a few hundred dollars That's time it's meaningful Just curious about the lights, so they're just for photography. They're not they're not video lights. No, they're strobe lights Yeah, they're only for photography Very cool So I think so because they told me that they'll tell everybody that they know that we should it's what everybody wants to rent It's what everyone wants to have but it's just too expensive We'll be able to help a lot of people in the community that want to do that kind of photography. It's great So that goes right into the number eight. That's the annual budget So Becca has prepared an annual budget and it's been through the finance committee for the county specifically county in the city and We will be asking According to our people at the county for a one-year extension of our contract So we won't be going in June for a new contract. It will be a one-year extension And as part of that Becca has to submit the budget and a work plan so You have in your packet budget and As what we did is you see the new numbers is the first numerical column and then last year's budget is next to it And then Becca had broken it down to how much it comes out a month and then we put in What we spent for the first nine months of this fiscal year divided by nine So I think that gives a couple of really good reality checks for what her budget looks like You'll notice some things like We found bank charges going much higher than budgeted, but that's been taken care of Five months, so I think it's a pretty good number Whereas you can see last year for this fiscal year was budgeted at sixteen hundred dollars But if you look at the financial report that was just approved You'll see that we've spent already I just wanted to pick on that one I'm familiar with to show you how that goes has adjusted her budget to match the reality of this last year If I could mention one other thing Which was a suggestion of the finance committee if you look at facilities and equipment 41 20, which is Essentially the revenue that we get Through our contract the satellite You'll see that actually we're projecting less revenue So this current budget year we projected 150,000 next year was projecting 126,000 that's not that we're expecting things to be worse It's that we asked Becca to Project the budget based on what we've been doing Versus any projected increases has a more conservative approach So a couple of changes like that I know another changes that we've folded in both the cost and the revenue we expect to get for closed caption Which is a significant new item Thank you, I just also wanted to thank Becca and our large staff of two people of keeping the costs You know every month. Yeah the costs are reasonable. I mean if they go over there's a reason there's nothing in here that's You know, I think unneeded or it's just it's been well managed this year And I want to second what Tom said so I remember I was at that discussion And I feel more comfortable with that figure and then we'll go up from there and I'll be happy Fine as you can see like Tom said for the revenues projected for next year They're essentially what we're done over the first nine months Continue to increase our revenues over nine months If you look at it eight months, it wouldn't be quite as close to her projection And if we're I include this month to date We would have been making more than her pretension because we And it's a variable business One of the most exciting things for me has been In February early March, we lost a couple of big offices I was I'm sure Becca to panicking No, and very quickly those offices were turned over and in the process the number of people using our cafe went up And instead of us looking at oh, no, we've got some vacancies We're looking at fully subscribed utility doing better than we projected So we could celebrate this month and pat a glass One of the things about this business is that you just have to have intestinal for it And a conservative assumption I was gonna just ask first is the other questions about the proposed budget. It's our April thing What is what is equipment service? We've been investigating it's sort of like the the thing that I did with the company that needs those lights We buy them and they're able to rent them and that that comes under actually facilities and equipment But what we'd like to do is maybe find a place that makes video or that could Make content for the channel that would be appropriate and install the whole Equipment there for them to use and they they would be it would be there in their place and they would lease it from us So it'd be something like a like, you know Like one of the chambers a city government might do that Maybe loud Nelson would do that just a place that might need equipment more often depend if you it depends on the I guess the Price break on how many times would you use it a year? Is it better to rent or to lease and if it's better to lease and if they get if that's tax Advantages to them to lease then that's what's going in there. I haven't put a whole bunch of money in there Right. No, I just how many I'll find that can do it, but I think I'll find one or two Okay. Yeah, I think equipment service is on the expense side. Yeah It's basically offering it as a as a service. Okay. Yeah If you can come up with a better name I noticed the SWAS is that software as a service So I'm just curious how many adobe licenses Yeah It's the full creative And we teach classes, you know, people want to take a class in Photoshop and premiere After effects, you know, I maybe at some point we'll do Audition, you know Yeah, there's so much $306 a month Oh, yeah, yeah, plus we sometimes rent those laptops people use them and to edit projects just out in the cafe space Yeah I remember An hour and then a couple hours and then I have a nicely edited Program Spend 50 bucks a month to get the whole wall of wax and you're not going to use it for a couple hours So it's very very handy, you know, when I did the program I think I edited one of them and You get a better program and so I had it recommended to all the producers Also good for like a local graphic artist who'd like a certain version of those pieces and don't want to upgrade But they have a client that uses the upgraded version They can come here just change a file and take off They don't have to pay that monthly fee. They use when they need it. There's one more piece of equipment I forgot to tell you guys about we got a new Mac editor for one of the edit suites And it is the big new Mac 10 core system. So it's very speedy. It's black and sleek and fancy And it really it's a great. It's a great machine to edit on it's really speedy and Connected to the great of clouds. It's got everything and it's a big It's a big thing. It's if they call it the Mac Pro And it's like a space heater or something like that. Oh, no, it's not around No, but that sounds cool It's a square black.  That's like the thing that's a piece of paper and it's beautiful And I'm speedy so and it's people can come in and use it and it's one of those things That's really pricey, but it's a good thing So if you want to experiment with it before you buy one week If you want to try to edit some 4k video at you can edit 60 frames per second or something like that And you can do that you can hold it can keep up with that. Yeah Okay Questions about the budget I will second that motion Okay, we have a motion and a second all those in favor say aye Opposed abstentions seeing none. We're gonna go on to the oil report from the wrong here advisory committee Thank you. I don't have much this month. I mean, I'm very pleased that Some of the producers that We're doing a specifically music shows that they have come back I mean, it's very hard for them and sometimes they have people come from in the Bay area and they want to play And be recorded. It's really I mean, it's it's those programs are probably one of the hardest programs to do and They do them And Just wanted to let you know that again, we will be doing our community service by Inviting in a journalism class from Cabrillo College. They'll be doing two programs this year Based on the quality that we want to get They'll only do one time which means two groups will do a half-hour program and they'll be on Monday May 14th, and so they already have their Topics selected and they have to do background Somebody does the hosting so it's quite an experience for them And so I hope in the future that we'll get some of the people that we gave computers to like people from Apples High, Watsonville High That they come in and you know being Cabrillo and then do the programs here So we need to build on all the things that we're doing so that's exciting to me And that's really all I want to say Leave it up to you to talk about the Spotlight All right, I'll move to the oral report of board chair I just wanted to mention this Matilda did that we did a non-profit spotlight on the new capital library And we had quite a quite a cast here who Did an outstanding job of being extremely positive made a great show that I could have lots of positive feedback on Really appreciated those who came along the program and what a great job they did and I just spoke with the chair of the The umbrella organization the friends of the whole Santa Cruz Public Library They want to do a very similar thing for the whole system because While the capital a branch is just finishing the private fund raising phase and moving into the public phase So it's a good time for them to publicize that the public phase is starting System is just starting the private phase. So that's probably going to be the next program great Similar crew for the whole system We're very positive about libraries Community-minded yes and ready with the story Lots of experience It's really You remind me I did I was at the capital library on Saturday Taking testimonials from anyone who was willing to stand in front of the camera and just say five or ten seconds Why they left the library and I should You are you know this Janice but without exception they all kept saying how wonderful the staff is and how much they appreciate How much they help them And then I was surprised about it's the constant traffic of people in and out And they've been in a temporary facility for 17 years Schools that's just halfway there So that's what I had to report on are there any staff requests for items appear on the next meeting agenda Or board Maybe Becca it's June going to be when you take your extension of the contract to the board supervisors So then maybe just follow up with us on what happens there, I don't think it needs to be an item But just in your report. Yeah So as we mentioned, we're gonna go for a contract extension, so no changes to the contract The budget So any announcements about anything I think we've been announcing I'd like to thank the volunteers that helped produce tonight's board meeting on TV So Rousseau Richard to sell Linda Janakis Karen Scott Jean Kratzer and Sherry Ross Thank you for producing tonight's program. And with that, I'll take a motion for adjournment to adjourn a meeting Let's say approved Okay, so the meeting is adjourned


Good evening navigation traders today is Thursday, December 5th Just wanted to send out a quick video to give you some thoughts on What's going on today and tomorrow? It's currently about we've got about a little less than 40 minutes till the market closes on Thursday So the markets are still open and we're looking at a chart of the S&P 500 so yes, and what I'm looking at here is We've got about you know, we like to keep a little bit of short Delta and our short Delta right now is about two and a half To one versus our theta. That's kind of the ratio. We look at and we'd like to be anywhere from one to one to five to one We're in the middle there. I have been doing a little bit more short Delta or letting some short Delta accumulate And here's what I'm looking at. I mean we've just been on this incredible run. We had the last week We had that big push down and now we're starting to Crete back up so kind of pull back up after that flush down what I'm looking at tomorrow is for a potential rollover or early next week and you know What am I why do I think that I just I like to look at these situations where we've we've had a situation where we get a Move in one direction in this case this flush down and and we are now creeping back up and and just looking for a rollover No probabilities This is this is more of just something of kind of market awareness watching the markets for 20 years and you know plays I like to make now does that mean it's absolutely gonna happen. No, of course not but You need to take an assumption on the market Of course being Delta neutral is an assumption Having a bearish assumption is an assumption having a bullish assumption is an assumption So it's okay to have a directional bias and that's what we're doing here So we're just taking a little bit of a directional bias to the short side We've got we've got quite a few different short Delta positions on with IWM XLK QQQ DIA so we're well positioned for this for this rollover if it does in fact happen Now keep in mind tomorrow morning Friday morning before the markets open at 7 30 a.m Central time they are doing the announcement of the non-farm payrolls and Unemployment so depending on how those numbers come out. I mean, that's that's what could trigger The movement in the market even before the market even before the even before the cash market open So look for that around 7 30 a.m. And you know depending on If the market likes those numbers or likes those reports, you know That's that's what I'll be looking at to see if we can get a rollover which would really help our portfolio And if the market does go down a decent amount I also think we could see a real rally in bonds So you you kind of got the opposite in bonds where you had this big push-up and now it's pulling back and And these bonds could turn around and rep hire so that's kind of the anticipation in bonds We do have a an adjusted short strangle in bonds if we take a look at that. We're well positioned for that as well So if you know bonds move higher that's gonna move as Closer into the center of our range there, which would be great And so I just I really like how our overall portfolio is positioned a couple of the things here Just wanted to cover One I posted in the community here just to reiterate. We've got a position on in Roku This is a reverse iron duck because he prices all the way up here really very tiny chance of Of it getting back into the max profit area into the duckhead these options expire tomorrow So we are just going to let these expire and collect that beak profit in this case 122 bucks Better than a sharp stick in the eye. I was trying to get out of this I've been I've had a resting order in for for some time to get out of this at $2 and 49 cents I don't want to pay more than 250 because that we're just paying up to get out of it now if you needed the capital I mean this is tying up 2,300 bucks So if you wanted that capital to redeploy and other trades by all means pay up a few cents But with toss removing those exercise and assignment fees. We're just gonna let this expire Collect that beak profit and move on. So we're just holding that until tomorrow The other thing is we had a We had a double calendar in Rutt our UT we took off for a nice $460 profit and then let's see what's the other one. Oh the other one was RH so this is kind of a normal iron duck or I should say Traditional iron duck where in this case prices moved way up the beak way up here So very similar situation. I was trying to get out of this at $2 and 49 cents Which is just a penny less than the width of the call spread the width of the call spread is $2 and 50 cents So it's trying to get out to to book that beak profit not getting filled So again, we're just gonna let this expire There is a very little chance of it getting back to the max profit area So if you needed this capital for other trades again, just by all means take that off pay up a few cents And take that money and run we're just gonna let it expire and book that beak profit Which in this case is 128 bucks and Then lastly last thing I want to mention was we put on a trade in Ulta Ulta announces earnings after the close today, I believe yeah after market close and so We have that we have on this iron duck. So price is sitting right here. And so obviously if price shoots higher We're gonna be fine. We're gonna collect that small beak profit if price moves down into this area We're gonna collect that max profit and these options expire tomorrow So we'll be holding this up near the close tomorrow And of course what we don't want it to do is we don't want price to come way down here Which is is possible. I mean, you know earnings earnings can move stock. So we'll see what happens But still a high probability trade. It's got over a $20 expected move From where it's at right now up or down. So hopefully if it moves down it stays within that expected move We'll book a really nice profit if it rips higher. We'll still book that beak profit. So Hope that was helpful. If you guys have any questions, let us know