Production meeting JUM 18 March 2020, 11:30 Online through skype
Present: Vincnet, Inneke, Ronny, Jesse Notes: everyone
Agenda (prov, from mail Vincent):
Ronny & Inneke propose that call Geniviève will be with Vincent & Inneke only
1/ LOAN Jubilee-MuZEE: payback - see loan agreement "191115 SIGNED loan agreement TYAGN JUBILEE.pdf": 3. TYAGN will reimburse Jubilee when it receives the first instalments of the production aid from Centre du Cinéma and from CBA, and in any case not later than 31 March 2020. Vincent: She'll not have it. -> No emergency but we need approx. Date ? Ronny: we don't have any shortage, but it's clear what the agreement is. Vincent: We'll have to define priorities. We'll have to ask her for a clear date. She should contact you (Ronny), to define these things. Her payment to me is my 2nd priority.
2/CONTRACT Muzee, VM, Jub
-Signatures digitally? -> adobe/belgian ID-> for next contracts useful to use this
Ronny adapts grey balance of pasted-in signatures and sends to Vincent & Jesse - who forwards to Geneviève. *** -Attachment 1 with budget and division of cost-handling misses from Dropbox. -> Vincent should look it up, it should be paraphed in the files.
3/BUDGET point dépenses et prévisions (je prépare une mise à jour que j'enverrai bien à temps avant la réunion) -> update tussen Inneke & Genevieve -> zij heeft eigenlijk de laaste cijfers Inneke is still waiting for G's response. She did send the agrément. Vincent thinks there's 4000 on her account to be used for the film, but he's not sure where exactly we are on the budget. (persoonlijk onkosten nota wordt gestuurd, Normal moet nog factuur sturen maar facturen zijn bij art consult , minder dringend) -> meest belangrijk volgens Vincent is om met Ronny spreken over de 25.000 * die moeten terug bij Jubilee - if not possible within contract date, then G. should make a new proposal -> Inneke send V pdf of cost-overview. Vincent doesn't know what else is needed for the technical dossier. -> Inneke makes a list of whom we need to get in contact with who's part of the budget. What type of agreements do we need to show?
-> Ratio co-producers
what needs to be clear : how do you we need to report to each different fund - different co-producers have different fundings. how do you justify ? notes de créances ? (better not invoicing each other) Vincent: that's not really the issue. It's important to know if the money I receive from Jubilee is eligible for a new tax shelter move (we might have to pay some VAF costs through her). Magellan Films is official co-producer/intermediary who enters tax shelter application.
4/ TECHNISCHE DOSSIER
- financements VAF - Q by geneviève : part à faire rentrer dans les dépenses tax shelter - comment procéder au mieux ? -> V : mijn deel voor postproductie (meest dringend) -> @ inneke : niet zeker misschien heb jij dit al gestuurd maar is het mogelijk om een PDF van de lasste versie van het VAF budget ? -> @ Julie & Inneke : technische dossier duidelijk planning in verband met contracten met muzikanten (en *updated uitgaven ?)
Contracten muzikanten (met improvisatie delen)
wouter vandenabeele email@example.com bao sissoko firstname.lastname@example.org (wouter kan misschein hem laten tekenen maar hij woont in brussel ) Li-Ling Huang email@example.com lode vercampt firstname.lastname@example.org
Bill which will arrive by Sam Bodson for "motion design" email@example.com
5/ DISTRIBUTION any other business -> distribution - online meeting with Javier (CBA) & Geneviève & Olivier to planify (who/where/when/how) - recherche proactive distributeur idéal
6/ Promotion JUM website preparation (emilie-mathieu) - dossiers promo FWB-VAF -> économie disponible - recherche & achat nom de site - official synospis (short / long) FR/ENGL/SP/wolof (mandarin ?) - official stills - dialogue with O. Marboeuf - trailer (simon & laszlo) - poster (pierre) -translations website (fr/engl/sp/wolof )
7/ MEETING WITH GENEVIEVE : 14:00
Mail Geneviève on 18/03 * detail: budget previsions vs. actual spents so far (actual spents directly drawn from "Cost report TYAGN" & "cost report Jubilee" tabs) * green columns reflect budget/money spent to date vs 150K budget (as presented to the Communauté française) * yellow columns reflect previsions for cost coming on top of green columns & money spent so far * blue columns reflect full cost previsions + full spendings to date * please note that for each colour there is always a cash and a participation column * financements 200K = ideal financing for a full coverage of all costs of the film * needs to be reassessed, especially the cells highlighted in orange * e.g. while up until a couple of weeks ago it was realistic to expect a new tax shelter financing to cover 20-25k € more, this is definitely not anymore the case - all tax shelter financing is dried up with the current sanitary and economic situation, and we shouldn't expect any upturn before many months from now
Current cash flow situation TYAGN * The "cost report TYAGN" gives you a description of costs incurred so far by TYAGN - 58k € so far, (VAT included), which is almost 100 % of the money received so far (Tax shelter 19.152 (net), CBA 12.000, loan Jubilee 25.000, = 56.152€ in total) * VAT counts for only 7000 €, will be reimbursed at the end of Q3 (and will anyway be offset against the ca. 3k € of VAT invoiced by TYAGN to MAgellan to receive the tax shelter money * I heard yesterday that the first "tranche" of money from the Centre du Cinéma will not arrive until 20 April at the earliest We'll have to discuss how best to proceed fro facing the immediate costs, and how to best allocate among us the forthcoming money from the Centre du Cinéma and from VAF.
Geneviève explains her budget and costreport
/BUDGET Needs to add the 7000€ to the budget -> ? We are at 128.000€ costs
/COST REPORT Invoice soundmix (around 4500€) will arrive soon - ED made a new quote Cobalt - around 2000€ to be invoiced Spec (1000€) - to be invoiced
so approx 7500€ still to be paid Not in the budget yet - trailer affiche and trailer - find additional money (promotion money when the film is selected) Good to knwo : if we find a distributor : they put some money normally on promo
Geneviève says that to come out of the costs we need to find 30.000€ more (ideally 50.000 €)
TAX SHELTER we are at 46.000 we need to reach 68.000
Vincent has not yet been paid Producers cannot also not be paid within the current budget
/LOAN AGREEMENT CCA only comes on 20/04, maybe 30/04 Geneviève can't reimburse on the date stated in the loan agreement she asks : Is their a way to recompensate with the VAF fund? We would then need to make an addendum on the current loan agreement Vincent will discuss Geneviève's proposition with Ronny Vincent will add the amounts in this framapad
To remount a new taxshelter budget the invoices needs to pass by Thank You & Goodnight How to do this in relationship with the Flemish expenses? -- > IMPORTANT QUESTION If it is possible that Thank you invoices JUB in order to mount the taxshelter Geneviève will summarize in a short mail