The meeting was called to order by Vice-President John Hunziker. Also attending were Chris Colby, Cynthia Daube, Ann Farnell, Ed Haskell, Phil Henoch, Phil Karsell, Barbara Porter, Sue Reinke, and Joanne Swenson.
Others Present: Audrey Betcher, Library Director; Tom Dyer, Communications Manager; and Kathy Olson, Administrative Assistant.
MINUTES
Phil Henoch moved, Sue Reinke second to approve the meeting minutes of April 24, 2002. Motion approved.
DIRECTOR'S REPORT
The Library Board approved the naming of the young adult area in honor of the Mayo Clinic.
The Library Board endorsed the concepts contained in the case statement. The Library Administrative Team also reviewed the case statement and endorsed the concepts, however, they would like the statement about removing barriers put back in as this refers to serving special populations.
The Library Board Policy Committee formulated a draft policy for naming opportunities and the Library Board has requested input from the Foundation Board. The draft policy will be discussed at the next meeting.
Audrey introduced Manual Thomas who has been hired as Kathy Olson's replacement for the full-time Office Services Coordinator position. Kathy will continue on a part-time basis in various capacities including staffing for the Library Foundation.
COMMITTEE REPORTS
Advocacy Committee
Has not met since the last Board meeting.
Finance Committee
The committee has met several times to interview prospective money managers: Rochester Area Foundation, US Bank/Piper Jaffrey, Wells Fargo, Salomon Smith Barney, Windsor Financial Group, and Dain Rauscher.
Following the interviews, the committee met to discuss the firms and decided to ask Windsor Financial Group and Salomon Smith Barney back for longer presentations. The committee has not decided how the follow-up will be handled.
Rochester Area Foundation has been set aside for the time being. There are significant reasons not to consider them based on the strictures of control of the money.
At the next meeting, the committee will bring a recommendation on a money manager, and an updated investment policy.
We do not have details of when the Mayo matching grant begins or how we will need to account for matching money etc. These details should be ironed out in the coming months.
Sue Reinke raised the point of whether a local firm should have top consideration since the Foundation will be soliciting the local community for further funding.
Development Committee
Board members were asked to sign thank you notes to key Mayo staff.
Frank is working on editing the case statement.
Special Events
We need to start working on Wit, Wisdom & Wine 2003.
At the next meeting, Tom will bring forth some ideas from other libraries and friends organizations for potential additional fundraisers.
The next meeting is scheduled for Wednesday, June 26, at 4:45 p.m.
There being no further business, the meeting adjourned.
Respectfully submitted,
Kathy Olson
Secretary Pro Tem