March 20th, 2003 Minutes

Foundation Minutes- Board Meeting

Call to order- 3:36PM

Roll call- Lorna Frahm, Bill Zollmann, Tim DeGhelder, Warlene Reed, Bob Houck, Carl Sandstedt.

Motion by Bill Zollmann to accept minutes from January 16th, 2003  meeting.

Second Tim De Ghelder

Motion Passed

Public comments- none

Financial Report given by Bob Houck  

Bob circulated balance sheet.  Bob Houck supplied all information related to investments summary dated 03/20//2003.   Bob also gave information on all Foundation investments.  Noted we are keeping within our investment policy. 

Bob is also interested at looking at other investment groups and proposals. (part of new business)

Comment from Carl Sandstedt: "I am not a voting board member, but I have one grave question and concern,"- The advisor's reliance on bank captive mutual funds, especially index funds, when lower cost options are available."  Just keep in mind there are always other options.

Motion by Mark Rudolph to accept financial report

Second Bill Zollmann

Motion Passed

Comments from the Foundation Board- 

Welcome of Warlene Reed to the foundation board.

Staff Liaison's report- Bob noted WIN would be moving into the old administration building, earlier than June 2003.

Director's report- Carl Sandstedt

• Development of "New Town" like Winghaven in 500 year flood plain.  This is not a priority for the library district.  We will take advantage of all negotiation tactics.  However, it might be feasible to create a Library Express in this area to replace the North County Branch.

• Winghaven finishing bids accepted by Paric.

• Library District still looking for a rental tenant for the other half of Winghaven.

Old Business-

Householder Scholarships-

Applications are being received for our meeting on May 15th.

Old Business-

Trivia Night Fundraiser April 2003

We are getting some good sponsors- Dirt Cheap, Target, (possible Dierbergs, Shop-n-Save) Eberhardt Music will donate a sound system for the night.  Noted we should give recognition to donors during the entire evening.

Room for 25 table- 18 are currently accounted for.

Old  Business-

Discussion- Capital Campaign for Expansion of the Physical Plant.

Potential sponsorships of areas at Winghaven Library Express.  

Bob Houck and Brad Smith are putting together a potential donor/sponsor list  More details to come at a later meeting date.

New  Business-

Financial Advisor- Status of Agreement

Motion by Bill Zollmann to allow development officer to solicit other financial advisor management offers.

Second by Warlene Reed

Motion passed

New Business-

Board Expansion, FY2004

Foundation will be in need of new board members for FY2004.  Be aware of community members who want to make a difference in our library district.

Motion made by Bill Zollmann to adjourn at 4:31pm

Second  Tim De Ghelder

Meeting Adjourned 

Next Meeting set for May 15th at 3:30pm in Foundation Meeting Room. (Administration Building)