January 18th, 2007 Minutes
Foundation Minutes- Board Meeting
Call to order- 3:34
Roll Call- Bill Zollmann, Lorna Frahm, Kyle Gaines, Warlene Reed, Joe Krebs, Tim DeGhelder, Ralph Garzia,Cindy Ostmann, Larry Shroth Staff members- Bob Houck, Carl Sandstedt
Public comments- none
Secretary's report- Minutes from meeting-
Motion made by Bill Zollmann accept the minutes from the November 16, 2006 .
Second-Lorna Frahm
Motion- Passed
Financial Report
Market report on assets- Bob went over investment spreadsheet: Total
asset value- $364,762.96 as of
Motion by Lorna Frahm to accept the financial report as presented.
Second by Kyle Gaines
Motion passed
Comments from the Foundation Board - none
Staff Liaison's Comments- Bob Houck
BJC-SSM medical consumer sponsorship joint project- This is a potential sponsor for our new consumer health- Information Resource Manager. The sponsor will match a health organization with our informational staff department.
High visibility for sponsor with potential for book and electronic sponsorship.
Thanks to all who could attend the development meeting and to Kyle for getting the meeting place together.
The Friends Cabin Fever Book Sale will be going on for three weeks this February. This is becoming a good way to sell overstock of donations.
The big book sale in June will now have free parking. Rent may go up for the event. Books and boxes on being put on pallets for easy moving.
Director's Comments- Carl Sandstedt
What did the development meeting reveal?- The library can be an experience. Many libraries are going beyond the basics and trying new things.
Shared a map of the KL expansion plans. Gave some current trends that support new building. Customers come for multiple reasons. More than just an informational concept.
The coffee vendor at WH is gone. WH will also be expanding 1000sf for more usage.
Old Business
07-09 Trivia Night 2007- Tim DeGhelder
Reminding board members of the $25 sponsorship from each member.
Shared promotion flyers. Reminded board payments can be accepted on-line.
Asked if any board members had items for silent auction.
Old
Business
07-12 In-Branch Coffee Sponsorship Current Status
Bob handed out spreadsheet detailing income from coffee machines. The dates covered include 11/12/06 to 01/12/07. The branches include MK and DE. It was discussed for a relocation of the DE machine since the sales volume was extremely low. This may occur after the foundation looks into the moving costs for the machine.
Old
Business
07-17 On-line credit card acceptance- Paypal (demonstration)
Informed board that the Paypal account is setup and ready to go.
Links include $120 for trivia tables and an open amount for donations. This will allow potential donors to use credit cards and pay on-line.
New Business
07-18 Development Plan- Goal Setting
Moved to next meeting.
New Business
07-19 Audit and IRS Form 990, Authorization for Disbursement
Motion by Bill Zollmann to allow Bob Houck to prepare 990 for the foundation board. Once the forms are ready Bob will get the appropriate signatures needed. This also includes up to $400 to pay for annual audit.
Second by Lorna Frahm
Motion passed
New Business
07-20 Financial Oversight Policy
This will be a set of checks and balances concerning oversight of investments.
It shall be the policy of the St. Charles City-County Library Foundation that:
1. All cash receipts intended for the organization will be received, promptly deposited, recorded, reconciled, and kept under adequate security.
2. In regard to cash disbursement, it is essential that different people authorize programs, sign checks, record payments in books, and reconcile bank statements.
3. Accounts receivable will be properly recorded, tracked, and arrangements made for quick collections. Tracking, flagging, and acting upon problematic recoveries will result in prompt action.
4. In regard to accounts payable, assurances will be made that all invoices are legitimate and accurate, promptly recorded, and payment issued to the correct supplier.
5. There shall, to the fullest extent possible, be assurance that no single person independently handles any financial transaction from beginning to end.
The Foundation Board shall take appropriate measures to monitor and assure compliance with this policy.
New Business
07-21 Website Development for Foundation
Tim DeGhelder is going to attend a workshop on website development. This workshop will help gather knowledge when the foundation updates their current website.
New Business
07-22 Release of Funds
Motion by Lorna Frahm to release $1000 from the Wal-Mart Foundation Literacy Grant for "Ready to Read" materials.
Second- Cindy Ostmann
Motion Passed
Comments for the good of the foundation: None
Lorna Frahm moved
to adjourn. Cindy Ostmann seconded. Meeting adjourned at
Next Meeting set for March 15, 2007
at
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