CALL TO ORDER
The meeting was called to order by President John Hunziker. Also attending were Dan Berndt, Cynthia Daube, Ann Farnell, Cris Fischer, Ed Haskell, Phil Karsell, Jean Michaels, Sue Reinke, Joanne Swenson, and Joyce Wenz
Others Present: Audrey Betcher, Library Director; Tom Dyer, Communications Director; Kathy Olson, Administrative Assistant.
MINUTES
Ed Haskell moved, Cris Fischer second to approve the meeting minutes from June 25, 2003. Motion approved.
2ND QUARTER TREASURER'S REPORT
Kathy Olson reviewed the 2nd quarter Treasurer's Report. The majority of the income was from additional donations to Wit, Wisdom & Wine 2003, and miscellaneous donations. The expenses included a distribution to the library for the 2002 fund drive proceeds, costs for the 2003 fund drive mailing, and the maintenance agreement on the development software.
Ed Haskell moved, Sue Reinke second to approve the 2nd quarter Treasurer's Report. Motion approved.
LIBRARY BOARD AND DIRECTOR'S ITEMS
The library is in the midst of coming up on a new automation system. We went to an interim standalone system separate from the SELCO automation system in mid-July and our new system will be ready in November. Staff has had some initial training on the new system.
We have not received word from the City or County yet on the final budget for 2004, but it looks grim.
Our head automation technician has given notice that he will be leaving and taking a position with Pemstar. We have been in contact with the City Administrator and he has approved filling the position.
COMMITTEE REPORTS
Advocacy Committee: has not met.
Finance Committee: We have received an undesignated gift of $1,000 from the Rochester Host Lions Club and a gift of stock from Dr. & Mrs. Harry Swedlund. Staff is looking for direction on how to handle these gifts.
Dan Berndt stated that in his experience, stock should be sold within three days of its receipt.
The Gift Acceptance Policy states that: "In general, all gifts and bequests in-kind, shall be converted to cash upon receipt. At the discretion of the Board, the value of undirected gifts or bequests may be given to the Library immediately to be used in pursuit of the goals of the Foundation, added to the endowment, or used for Foundation operating expenses."
Sue Reinke moved, Cynthia Daube second to dispose of the stock and designate the proceeds, along with the gift from the Rochester Host Lions, to the endowment fund. Motion approved.
The Board discussed the matching grant from Mayo and whether the match is gross income or net income. Sue Reinke stated that we need to insure we are complying with Mayo's intentions so we don't risk losing the matching funds. Audrey will clarify the matter with Karel Weigel.
At the last Finance Committee meeting with David Koch, it was suggested that the Investment Policy Statement and Asset Allocation be updated to reflect how the endowment funds are actually being invested during this volatile economic environment. David Koch updated the Asset Allocation portion of the policy and it is presented for the Board's approval.
Ed Haskell moved, Jean Michaels second to approve the updated Investment Policy Statement and Asset Allocation. Motion approved.
Development Committee
Kathy reviewed the 2003 fund drive. Approximately 2,600 letters were mailed. To date we have received almost $15,000 for materials, $1,900 for programming, $4,000 for the endowment, and 3 book a year endowments. Donations continue to come in.
John Hunziker reviewed the action plan proposed by the Development Committee. The Committee will develop a list of 25-50 potential individual and business donors to visit. The idea is that one library staff member and a Board member who has a relationship with the individual will visit briefly with these prospects to make the ask.
The second approach is to target persons who have not responded to the campaign letter. We will be requesting each Board member to call 10-20 persons who have not responded.
The Board discussed the value of making calls to those who have not donated. Cris stated that in her experience phone calls make a difference and may be just the reminder needed to get a donation. As the economy changes, people's priorities in charitable giving may change. We can try it this year and if it doesn't work, try something else next year.
Dan pointed out that some Board members may be more comfortable making phone calls rather than personal calls and vice versa.
The Board also discussed what type of acknowledgment will be given for donations, such as an honor wall. One suggestion was to attach sponsorships to library programming throughout the year.
Special Events
Wit, Wisdom & Wine 2004 is scheduled for Saturday, January 17. The Committee has started reviewing possible speakers. Probably five speakers from 2003 will be invited back. If Board members have suggestions for speakers, they should contact Tom. We need to get the speakers confirmed within the next several months.
Board members are also encouraged to start thinking of items for the silent auction.
The next Board meeting will be October 22, 2003, at 4:45 p.m. in Meeting Room B at the library.
There being no further business, the meeting adjourned.
Respectfully submitted,
Jean Michaels
Secretary