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HomeMy WebLinkAbout12-08-14 WAF MinWESTLAKE ACADEMY FOUNDATION Board Meeting December 8, 2014 Board Members in Attendance: Sean Shope, Zan Jones, Leah Rennhack, Jeff Watson, Andy Sedino, Bill Greenwood, Karen Stoltenberg, Debbie Kraska Others in Attendance: Cord Adams, with Shamrock Asset Management, Julie Kelly, Shelly Myers I. K. Stoltenberg called the meeting to order at 8:34 AM. II. Motion to approve minutes of November 10, 2014 meeting by B. Greenwood, second by J. Watson. Motion carried. III. Financial Report  Statement of financial position reviewed by S. Shope. o Baja 2014 accounts receivable total about $90k. Will continue to invoice and follow up. o Auditors are currently in the completion phase of the FY14 audit.  Motion to approve financials by A. Sedino, second by B. Greenwood. Motion carried. IV. Development Committee  Blacksmith Annual Fund o K. Stoltenberg reported that BAF total currently stands at approximately $1,066,000. o Planning year-end solicitation and targeted communication to new families.  Run the Ranch o S. Shope reported review of possible event dates underway. o Will meet with Luke’s Locker representatives to ensure no conflicts with other races in the area. o Course route will be on same side of JT Ottinger as the Academy to utilize the Fieldhouse. o Discussed partnering with the WAAC to potentially assist with event, but may also benefit from proceeds. We will meet with WAAC representatives to discuss. V. Marketing Committee  Z. Jones reported on upcoming year-end mailing that will solicit BAF donations.  Discussed creating a video to illustrate need for Blacksmith support. Images and message would emphasize the time of the school day when State dollars stop funding daily operations, and Blacksmith dollars are take effect. VI. Investment Committee  Cord Adams with Shamrock Asset Management reported on the Foundation’s portfolio and investment performance. The WAF is invested in a “balanced” portfolio.  Portfolio has annualized return of 8.1%/year, though current year-to-date performance is 2.9%.  Changes in the portfolio were made at the beginning of fourth quarter to improve returns and have resulted in an increase. The portfolio has taken a “defensive” approach recently due to the longer-than-expected bull market trend.  S. Shope asked C. Adams to confirm that current holdings are in compliance with WAF investment policy. VII. Grants Committee  L. Rennhack and S. Myers reported on a Grant for the “Procurement of Science Department Equipment, Reagents, Consumables and Software” in the amount of $27,850.00.  Discussed possible reasons why these items have not been included in annual school budget.  Motion to approve fully funding the Grant by B. Greenwood, second by A. Sedino. Motion carried and Grant approved for $27,850.00.  S. Myers will inform Academy leadership that $27,150.00 remains in the WAF granting budget for the current school year. . VIII. President’s Report  K. Stoltenberg reminded Board of tour and luncheon at Deloitte University on Friday, December 12 at 12pm. More information will be coming from Board member and Deloitte host, Andy Greiser. IX. Executive Director’s Report  S. Myers reported that Academy confirmed it will be responsible for Grandparents & Special Friends Day event beginning in 2015-16.  She will participate in an Academy affiliates meeting tomorrow.  Along with K. Stoltenberg, will present 2013-14 report to the Board of Trustees on January 12, 2015.  Regarding Baja 2015, R. Scott, former chair of event, reported to S. Myers that Mayor Laura Wheat has expressed willingness to serve as 2015 event chair, with her successor ready to assume leadership for 2016. A committee will be needed to assist with identifying, coordinating and working with new leadership and event volunteers.  Charges from Vaquero for this year’s event were approximately $33k, lower than originally budgeted. Other Business  J. Watson reported that at the most recent School Board meeting, the Academy enrollment policy was discussed, and that changes may be made soon to accommodate growth of Town. Next Meeting: Monday, January 12, 2015 at 8:30 AM, Lee Field House Conference Room, WA A. Sedino moved to adjourn the Board meeting, second by L. Rennhack. Motion carried. Meeting adjourned at 10:22 AM.