HomeMy WebLinkAbout12.12.23 WAF MinutesWESTLAKE ACADEMY FOUNDATION
Board Meeting
December 12, 2023
Board Members in Attendance: Ahu Primeaux, Heather Kilgore, Patty Pinsonnault, Meghan Dorr, Debbie Kraska,
Christine Ross and Sean Shope
Others in Attendance: Carolyn Anderson, Shelly Myers and Julie Kelly
I. C. Ross called the meeting to order at 8:OOAM at the Westlake Fire Station.
II. Motion to approve minutes of November 14, 2023 meeting, by Ahu Primeaux, seconded by P.
Pinsonnault. Motion carried.
III. Finance & Investment
• S. Shope reviewed the FY24 Budget with emphasis on Gala and Blacksmith Annual Fund revenue
expectations and addition of contracted financial accounting expense.
• S. Shope reviewed financial statements for period ending November 30, 2023.
• The WAF bank account includes a sweep account to ensure FDIC insurance of all funds at First
Financial Bank.
• Amount collected during November for the Blacksmith Annual Fund and to be transferred to the
Academy totals $605,587.25, and total collected to date is $971,192.21 or 76.33% of goal. Prior year -
year to date amount was $1,065,572.93.
• C. Ross reported that RBC endowment account manager, Kyle Clift, was requested to attend the next
WAF Board meeting to present on investment performance.
• C. Ross and S. Myers discussed newly confirmed Finance procedures. The WAF will continue paying
for its own expenses and grants and will report to the Finance Department at the Town of Westlake
for their record -keeping as in -kind expenses and revenue.
IV. Foundation Business
• S. Myers reviewed the Westlake Academy Affiliates Policy as created in May 2012.
o It was determined that there is a need to clarify expectations and accountability for both the
Affiliates and the Town Council.
o The document is being reviewed and feedback will be given.
• S. Myers and Board discussed WAF Board independence, including potential need for a
Memorandum of Understanding to define and clarify responsibilities.
o Deliberated regarding the need to stay consistent with the other WA affiliates as well as other
public -school foundations.
o Next steps will be to draft an MOU for next WAF Board meeting to eventually submit to the
Town Council.
V. Grants Review and Report
• S. Myers presented grant request for "Math Ninja Advance Number Sense Course workbooks and
video series in the amount of $175. Grant was approved and paid for through the Gingy Quinn Fund.
VI. Development
• BAF Update
o A. Primeaux reported that Blacksmith Annual Fund has thus far raised $1,219,740 in pledges and
payments with 73% of families participating and 66% of new families.
o Grade captains are currently in the process of making phone calls to non -donor families.
• Review of December Gift Cards
o S. Myers reported that 114 staff members will receive $250 Visa gift cards prior to the winter
break.
Gala update
o P. Pinsonnault relayed that last week a tour took place of the Solana outdoor office park space as
a venue for the WA Gala.
o Possible theme is "The World at Westlake" with encouragement of involvement from families of
the various cultures represented on the WA campus.
o Proposed fundraising for this year to focus on student art (K though 12), teacher experiences,
department grant funding and Live auction.
o Gallery 19C has offered their space for a VIP area during the event.
VII. President's Report
none
VIII. Executive Director's Report
none
H. Kilgore moved to adjourn the Board meeting, seconded by M. Dorr. Motion carried. Meeting adjourned at
9:OOAM.
Next Meeting: Tuesday, January 16, 2024 at 8:00 AM, at Westlake Fire Station
Signed by:
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Christine Ross, WAF Board President
Attested by:
Witness w4ne Title