September 20th, 2001 Minutes
Foundation Minutes- Board Meeting
Call to order- 3:37PM
Roll call- Debbie Tomich, Rose Mack, Floyd Hoffman, Lorna Frahm, Bill Zollman, Tim DeGhelder, Jim Koetting, Bob Houck, Carl Sandstedt. (Guests Brad Smith & John Spears)
Motion by Jim Koetting to accept minutes from July 19th meeting.
Second Tim DeGhelder
Motion Passed
Report of Financial Advisor- Bill Armstrong (Firstar) gave presentation, market outlook for 2002 looks strong. Hard to tell after 9/11 attack. Market should bounce back. Gave information about America and market with war going on.
Financial Report given by Bob Houck
Bob circulated balance sheet. (market and assets down).
Motion by Rose Mack to accept financial report
Second Jim Koetting
Motion Passed
Current portfolio asset allocation- 45% equities, 35% cash, 20 % fixed income.
Motion by Jim Ottomeyer to balance our portfolio to our maximum 65% equities.
Second Jim Koetting
Motion Passed
Comments from the Foundation Board- by Tim De Ghelder
Bookmark Return Slips- given to all customers who check out materials.
Will provide general information about the St. Charles City-County Library Foundation-
90,000 slips will be printed-
These slips will be given out at all library branches.
Depending upon current national funding interests- target date for distribution is set for November 1, 2001.
Staff Liaison's report
Bob Houck introduce new
Business Information Resource Manager- John Spears
Nonprofit Information Resource Manager- Brad Smith
New board members- Rose Mack & Floyd Hoffman
Director's report- Carl Sandstedt
Bids for BT exceptional response- about 17 bids came in.
New AD building plans design close to complete.
Winghaven still to be determined.
Use of old AD building- possible nonprofit space.
Old Business
Periodical Sponsorship Program-
Program ready to accept sponsors.
Householder Scholarship-
Motion by Jim Ottomeyer to expand scholarship fund to $565, which includes giving $100 to five recipients and $65 to one recipient.
Second by Lorna Frahm
Motion Passed
New Business-
Board Recruitment-
Rose Mack & Floyd Hoffman accepted their board positions.
New Business-
Foundation Policy for general donations- Policy #02-01 (General Donations)
Motion by Bill Zollman to accept Policy #02-01
Second by Jim Ottomeyer
Motion Passed
New Business-
Board Contact list-
Tim De Ghelder had all board members update current contact information.
New Business-
Reminder: St. Charles City-County Library Foundation Audit will occur when the Library District has their annual audit.
Motion made by Jim Koetting to adjourn at 4:40pm
Second Lorna Frahm
Meeting Adjourned
Next Meeting set for November 15th at 3:30pm. (Administration Building)
