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HomeMy WebLinkAbout11-11-11 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting November 11, 2011 Attending: April Gallagher,Ken Gordon,Kelly Cox,Bill Greenwood,Rob Scott,Kevin Hansen, Leah Rennhack, Zan Jones, Charlotte Ryan, Shelly Myers, Tom Brymer, and guest Debbie Piper I. K. Cox called the meeting to order at 8:35 AM.Welcomed Ange Bumgamer to the Foundation staff. 1I. Superintendent's Report • WA enrollment stands at 615 students;budgeted at 620,but have had withdrawals in G7-12. • The 2011-12 school budget includes $5.6M for general operations and $1.5M for debt servicing. Approx. $100,000 of reserve funds was used to balance budget. • Construction has begun to add third entrance to school. • Reviewing campus/grade expansion options as revenue source for building and maintenance/operations • Will move to using fiber optics to help alleviate IT issues for WA and Town. III. Board discussed following amendment to Minutes: In Superintendent's Report, add"Additional research is needed"to item regarding Texas Student Housing gift to Town. Motion to approve Minutes of October 14, 2011 meeting as amended by K. Gordon, second by B. Greenwood. Motion carried. IV. Financial Report • Gallery Night 2011 funds transferred to Administration and Deloitte endowment funds transferred to Shamrock Asset Management. • Template budget/financials format was reviewed; it will include outstanding pledges/aging report. • Staff will initiate activities to collect outstanding debt. • Motion to approve by B. Greenwood, second by A. Gallagher. Motion carried. V. Investment Committee • All endowment assets, except Merrill Lynch/Rogers Fund,have been transferred to Shamrock. • Merrill Lynch and Fidelity cash accounts have been closed and funds moved to First Financial. • L. Rennhack and K. Hansen will follow up with Rogers family to formalize their endowment fund. VI. Development Committee • Blacksmith campaign has raised $665,900 with 73% parent participation. The phonathon calls were well-received. There has been an overwhelmingly positive response to the Stoltenberg's as chairs. A letter to non-donor families will include message about having to use Fund Balance to cover school expenses ("dipped into savings") and need for their gifts to replenish the Balance. • Gallery Night 2012 has been scheduled for Saturday, March 3rd, at the Marriott-Solana with international food,wine and art theme, "The World Comes to Westlake." • R. Scott reported that the 2012 Westlake Baja has been scheduled for Tuesday, October 2, 2012. We'll continue to promote and build the great party atmosphere of the event, and perhaps moving to a golf "carnival"along with the tennis tournament(Pro-Am or Tennis Pro Tourney). • K. Gordon suggested adding a "Calendar Corner" of upcoming events to WAF website to attract early interest and event promotion. • Motion to allocate 10% of Baja's gross proceeds to Fund100 endowment by R. Scott, second by B. Greenwood.Motion carried. VII. Nomination Committee • Jeff Watson's application was reviewed and presented for service. Motion to approve nomination of J.Watson by R. Scott; second by L. Rennhack.Motion carried. VIII. Marketing Committee • The 2010-11 Year-in-Review has been printed and will be distributed at Grandparents Day and mailed to all WA constituents. • All old WAF web addresses now point to WestlakeAcademyFoundation.org. • Analyzing click rates of Constant Contact emails and website shows that videos have the most hits. As such,we'll incorporate videos whenever possible and appropriate. IX. Grants Committee • No grant applications received for this month. • Alison Schneider, PYP Coordinator, shared her experiences from the "International-Mindedness" conference in New York City about how can teachers infuse world appreciation into lessons. • S. Myers reported that the school is utilizing all 650 Rosetta Stone licenses purchased through a WAF grant. Currently,both students and faculty members are using the software. The school will be advised that students must take precedence; faculty licenses must be used in the event that additional licenses are needed for students. X. President's Report • Gracie Miller, of the HOC,will be at the December board meeting. • C. Ryan will represent the WAF at the December Board of Trustees meeting. X1. Executive Director Report • Grandparents Day plans are well-underway with over 100 RSVPs. Working with the principals on student performances. The morning will include Welcome Breakfast in the dining hall, student program in the gym, and classroom visits. X11. Other Business X1. Next Meeting: January 13, 2011 —8:30 AM in the Arts& Sciences conference room. X11. L. Rennhack moved to adjourn the Board meeting at 11:44 AM. Second by Z. Jones. Motion carried.