CALL TO ORDER
The meeting was called to order by President Jane Callahan. Also attending were Randy Demmer, Ed Hruska, John Hunziker, Judy Kereakos, Lois Marris, Mike McNeill, Elizabeth Ritman, and Harry Swedlund.
Jane welcomed Lois Marris to the Board, replacing Dave Marris.
MINUTES
Motion by Mike McNeil, seconded by Elizabeth Ritman, to approve the meeting minutes from June 27, 2007, as submitted. Motion carried.
SECOND QUARTER TREASURER'S REPORT
Kathy Olson reviewed the report. Major sources of revenue were from the direct mail campaign and Amuzing Race. Jerry Balm, a member of the Library Board passed away and a number of donations were received in his memory. We received $1,000 from the International Film Group in support of the iFilm series and $2,000 from the Judy and Jim Sloan Foundation for the purchase of a digital sign. These last two donations were passed through to the Library.
Major expenses included the costs of the direct mail mailing, printing and postage for the Winter Foundation Builder newsletter and Annual Report, and expenses for the Amuzing Race. We have not yet received a bill for the t-shirts, but anticipate the final expenses for Amuzing Race will be around $1,000.
Carrie reviewed the overview of revenue sources and uses.
Motion by Judy Kereakos, seconded by Mike O'Neil, to accept the second quarter Treasurer's Report as submitted. Motion carried.
LIBRARY BOARD AND DIRECTOR'S REPORT
Carrie Farrow reported that at the last Library Board meeting Phil Wheeler gave a presentation on population growth in Rochester. We have a culturally diverse and aging population, so the library needs to be sensitive to the needs of seniors and serving many different cultures.
As reported at the last meeting, staff has been actively pursuing an automated materials handling project which was funded with Capital Improvements Program (CIP) dollars. Such a system will automatically discharge and rough sort materials as soon as they are returned, which will enable staff to get items back on shelves sooner. We anticipate that the equipment will be installed in March 2008.
COMMITTEE REPORTS
Advocacy: A key issue is on-going dialogue with SELCO regarding services received by the library.
An item will be going before the City Council to make the transfer of bequests from the library to the Foundation easier.
Finance: Kathy has put together an overview of revenue sources and uses to make it easier for the Board to understand the different sources of revenue and how they are used or disbursed.
Development: We have received the proceeds from the Ruth Polzin estate of roughly $60,000. We have also received a bequest of $550,000 from the Karen Moxness estate. We may receive more funds once the estate is finalized. The funds from these two bequests have been deposited in the Endowment Fund.
Mark Neville was designated to work with library staff to determine the most appropriate recognition and stewardship for the bequests. After substantial discussion, it was determined that, due to the size of the Moxness gift, it would be best recognized by naming the New Fiction Reading area in her memory. Both gifts will be added to the Endowment Fund and will not have income restricted to a specific purpose since neither bequest was restricted. The gifts will be referred to as Legacy Gifts. It is recommended that the Development Committee provide language that can be used in library materials that would promote Legacy commitments. Mark agreed to work on a first draft of this language.
Special Events: A Donor Recognition and Dedication Ceremony will be held September 21, to acknowledge both estate gifts and Mayo's matching gifts over the years. The event will start at 5:15 p.m., with a short program starting at 5:45.
Wit, Wisdom & Wine: The committee met to begin planning for 2008. The date has been moved to Saturday, January 12, to avoid a conflict with the Art Center. The committee has identified ten potential speakers to approach.
We are in need of items for the silent auction and ideas for sponsorships. Benefits of sponsorship include acknowledgement on the invitation and all posters and publicity, newsletter articles and annual report, acknowledged on the Wit, Wisdom & Wine web page, and a plaque on the donor wall for sponsorships over $500.
PRESIDENT'S REPORT
If you have not yet submitted a signed Conflict of Interest statement, please do so.
The next meeting is scheduled for October 24, 2007, at 4:45 p.m.
There being no further business, the meeting adjourned at 5:30 p.m.
Respectfully submitted,
Kathy Shimek Olson
Secretary Pro Tem