CALL TO ORDER
The meeting was called to order by President Frank Iossi. Also attending were Chris Colby, Ed Haskell, Phil Henoch, John Hunziker, Bill Jonason, Phil Karsell, Jean Michaels, Dave Nelson, Barbara Porter, Sue Reinke, Dave Senjem, Joanne Swenson, Joyce Wenz
Others Present: Audrey Betcher, Library Director; Tom Dyer, Communications Manager; and Kathy Olson, Administrative Assistant.
Frank introduced Barbara Porter, who was recently appointed to the Board.
MINUTES
Phil Henoch moved, Ed Haskell second to approve the meeting minutes from February 27, 2002. Motion approved.
TREASURER'S REPORT
Phil presented the first quarter treasurer's report. He suggested that we discuss how to allocate the proceeds of the Hamilton Jordan event and the Wit, Wisdom & Wine 2002 event.
Jean Michaels moved, Sue Reinke second that this matter be referred to the Finance Committee for a recommendation, with possible input from the Development Committee.
The Board has determined five service initiatives by virtue of the case statement. We need to figure out what is practical to do and resist the temptation to do something in too many areas.
Is the primary purpose to get the endowment fund established and all funds be allocated for that? Should a certain percentage of funds be set aside for operating expenses? Should a percentage of other funds raised be allocated to the library immediately or set aside in some fashion?
A mechanism should be inplace for the library to report yearly that they have spent money allocated according to the foundation's mission.
The Case Statement still needs to go to the Library Board and staff for endorsement.
How much of the funds that now exist can the Board afford to give to the library, recognizing that the foundation will need some money for its operating expenses.
Motion approved.
LIBRARY BOARD AND DIRECTOR'S REPORT
Audrey reported that Kathy Olson will be resigning her position as Office Services Coordinator. Once her full-time employment is done, she will continue to be employed 50 hours per month. One of her duties will be to continue as staff for the Foundation.
The Rotary has awarded the library $2,000 to be used for young adult books on CD and young adult programming. The Optimist Club has given $400 for the young adult summer reading. We have received a Community Education grant of $1,800 for literacy materials.
COMMITTEE REPORTS
Advocacy Committee
Chris Colby reported that the committee met and reviewed several issues.
They decided there should be an advocacy piece included in the upcoming annual fund drive.
The Committee also reviewed a request for the purchase of computer software that will help with organizing the many needs for advocacy and fund raising. Staff have been looking at several software products to help with these needs and recommends the purchase of Metafile Results Plus software. Staff feel it has the features needed at a reasonable cost and has the potential for future growth.
Chris Colby moved, Ed Haskell second to approve the purchase of the Results Plus Software. Motion approved.
Finance Committee
The Committee met last week and interviewed the Rochester Area Foundation and US Bank/Piper Jaffray about investing the Foundation's funds.
If the funds are invested with Rochester Area Foundation, they would become their funds, but under current accounting rules we would still show the funds on our balance sheet.
The Committee will be interviewing several more investment firms before making a recommendation.
Development Committee
Frank reported that we anticipate a decision from Mayo next month. Once we receive official notice, we will begin working on a public announcement and will give as much information and notice to the Board as possible.
>Several times in the past, the issue of naming opportunities has been raised. At their meeting last week, the Library Board officially approved appropriate naming opportunities and the Board's Policy Committee will meet and develop guidelines for naming.
Special Events Committee
We are planning on another Wit, Wisdom & Wine event in 2003 and need to start finalizing the date and working with the committee to line up speakers.
PRESIDENT'S REPORT
Frank and Audrey will be meeting next week with a prospective Board member. Frank would still appreciate additional names for new Board members.
We are going ahead with the annual fund drive and the mailing should be sent in about a week.
It was suggest that the Advocacy Committee meet with City Council members to review the Foundation's mission.
The next meeting is scheduled for Wednesday, May 22, 2002, at 4:45 p.m.
There being no further business, the meeting adjourned.
Respectfully submitted,
Jean Michaels
Secretary