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HomeMy WebLinkAbout11-14-08 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting Minutes November 14, 2008 Attending: Leah Rennhack, Chris Noonan, Bill Greenwood, Deborah Ziegler, George Ledak, Julie Timmerman, Colleen Hess, Kelly Cox, Mark Rosevear, Angie Gofredo L Leah Rennhack, President, called the meeting to order at 8:37 am. IL Minutes from the October 17, 2008 meetings were reviewed. Motion was made by George Ledak and seconded by Colleen Hess to approve the October 17, 2008 minutes as written. Motion carried. III. Financial Report Deborah Ziegler A. Deborah Ziegler gave the October's Financials review. (attached report) • To date $250,484 has been transferred to the school for the Blacksmith Apprentice Program • $91,773 came in for the Capital Campaign • The unrestricted cash balance is $59,101 • A meeting with Leah, Angie, Debbie Piper, and Deborah took place to talk about the budget as well as how to report the financials. Debbie Piper will be changing the format of the financials so they will be easier to read • An open discussion of expenses being taken out of the Blacksmith proceeds took place. It was asked whether or not they should be coming out of Blacksmith or unrestricted dollars. • A motion was made by Julie Timmerman and seconded by Kelly Cox that any related expenses from Blacksmith, such as credit card fees, should be taken out of unrestricted cash. Motion carried B. Deborah Ziegler also presented the budget. (attached) Discussion took place. • Motion was made by Chris Noonan and seconded by George Ledak to approve the budget with the change of moving expenses from Blacksmith to the unrestricted funds. Motion carried. IV. Liaisons Report A. Mark Rosevear, Head of School, gave a school update. • The Academy is doing well at the moment. The Senior Management Team (SMT) and Board of Trustees (BOT) will be meeting again on Dec. 1st regarding the Strategic Plan. • The BOT and SMT will also review things such as the length of the school day and other policies. • He also noted that in looking at the whole picture that he feels that we are short 6- 7 teachers for the upper grades. V. Capital Campaign A. Gifts & Pledges to date are $1,373,135 with $694,165.08 in cash. There is approximately $125,000 left to raise. B. Building Update • Angie reported that the construction is moving right along. She reported the 3 week lead report given to her by Troy Meyer. Underground building utility work will begin, to begin preparing the site to receive concrete, form and pour grade beams, and some MEP work will take place. • Angie also reported that you can find pictures on the website of the progress. VI. Leah Rennhack gave the President's Report. • Leah reported that at some point in the near future we will need to revisit the Grandparents Endowment. She noted that it might be better to call it more of a scholarship fund as there is a minimal about of money in the fund. • She also reported that Angie has been working on a gift acceptance policy that will address things such as an Endowment policy etc. VII. Angie Gofredo gave the Executive Director report. • Angie reported that Gallery Night is in full swing. Currently the committee is actively working on Sponsorships and auction items. She reported that we are down at the moment in sponsors, that two from last year have already noted that they can not do it again this year. • The committee has come up with great ideas such as possibly having an artist there painting a picture; decorations on the table will be small renditions of the real paintings in the Louvre. The committee is keeping with the theme of an Evening at the Louvre. • It was also reported that she is delivering today a Letter of Intent to the Hudson Foundation. She will know in January if we can submit a full proposal. • She advised the board that we did not get the Meadows grant but have been invited to resubmit another grant in the summer. • She also noted that she has been meeting with various staff members to come up with different options to offer the foundations grant proposals. VIII. Other Business- no other business was reported. IX. Next Meeting: December 12, 2008 in the Dining Hall at the school. X. A motion was made by Colleen Hess and seconded by Kelly Cox to adjourn the meeting at 10:00. Motion carried.