September 18th, 2003 Minutes
Foundation Minutes- Board Meeting
Call to order- 3:35PM
Roll call- Lorna Frahm, Bill Zollmann, Jim Ottomeyer, Warlene Reed, Mark Rudolph, Joe Krebs, Floyd Hoffman, Marla Pundmann, Bob Houck, Carl Sandstedt,
Motion by Jim Ottomeyer to accept minutes from July 17, 2003 Foundation Board Meeting as presented
Second Bill Zollmann
Motion Passed
Public comments- none
Financial Report given by Bob Houck
Bob circulated balance sheet. Bob Houck supplied all information related to investments. The summary indicates current assets of 197,400.37. Assets are being transferred from U.S. Bank to Midwest. The process has been slow, but only two mutual funds, and part of the money market fund remain at U.S. Bank. The transfer should be complete within a week to ten days.
Motion by Mark Rudolph to accept financial report
Second Bill Zollmann
Motion Passed
Comments from the Foundation Board-
Lorna thanked the Board members for attending, and invited the members to visit the Library Express at WingHaven immediately after the Board Meeting.
Staff Liaison's report-
NPDC is now under District supervision in cooperation with the Community Council. Library Express opened on September 8 to good response. People still discovering the branch and usage will increase.
Working with Andy McKown, City Manger of Wentzville, to find property in the northwest part of the county.
Director's report- Carl Sandstedt
The District is anxious to land bank some property for development in eight to ten years. Cannot afford a full service branch unless technological efficiency allows reallocation of staff and resources. With western growth, the District may have to have two facilities, one north, and one south of I-70.
The District is also working with Whittaker toward the possible location of a library express operation in New Town.
Old Business-
04-02 Financial Report for FY03 (unaudited)
Bob presented the report for second review. The Board had requested time to review the report when first presented in July. The formal audit by Schowalter and Jabouri will be available at the November meeting. There were no questions at this time. This was informational and did not require a vote.
04-03 Appointment of Schowalter and Jabouri as independent auditors of Foundation
Bob presented the update that the audit was underway and Schowalter and Jabouri had accepted the Foundation as a client within the Library District’s audit.
New Business-
04-06 Authorization to Register the Foundation with the Missouri Attorney General as a bonifide charitable organization.
Bob presented information referred to him from the District’s Nonprofit Services Information Resource Manager. The Attorney General’s Office is seeking to register nonprofit organizations as bonifide charities. Reporting includes general information, and further detail on how much money is consumed for non-mission functions. Registration may cost $35.00 but the fee can be waived.
Mr. Zollmann recommended that the Foundation request that waiver.
Motion by Jim Ottomeyer to register the Foundation with the Missouri Attorney General’s Office.
Second: Mark Rudolph
Motion Passed
Motion made by Bill Zollmann to adjourn at 4:10pm
Second Marla Pundmann
Meeting Adjourned
Next Meeting set for November 20th at 3:30pm in Foundation Meeting Room. (Administration Building)
