Board of Directors Meeting
June 18, 2014
Present: Mark Fedorchak, Bill Gearhart, Debbie Kaplan, Paul LeValley, Tom Petty, Adam Thocher, Bill Trahant, and Peter Wilson; also present, Executive Director Matt Hussmann.
Not present: Michael Giles, Jon Hoffmeyer, Diane Jamison, Jon Kinney, Ashley Naiman, Khalil Minor.
The meeting was held in the meeting room of Lyon Place Apartments and was called to order by Board President Adam Thocher at 6:30 pm, with a quorum present.
Board President Adam Thocher said that the principal purpose of the meeting was to finalize the Alliance’s work plan and budget so that they could be forwarded to the County and the Alliance could receive its first draw on fiscal 2014-2015 funding. The Board had before it a draft work plan and budget.
With regard to work plan, it was agreed that certain wording would be deleted, and that the plan should be approved subject to minor edits, including correction of typographical errors. It was agreed that the revised plan should be recirculated to the Board for a final review and that Board members should circulate any such further edits and corrections to other Board members, with Tom Petty to review and incorporate them.
With regard to the draft budget, it was agreed that the draft circulated fairly reflected the likely income and expenses of the Alliance for the coming fiscal year. In discussion it was noted that the proposed budget showed a $14,000 surplus but no expenditure for office rent. It was explained that the office rent item was budgeted at zero due of the lack of a good number. Following a discussion, it was agreed that we should include $10,000 under the office rent category and and the title of the “surplus” line item changed to “contingencies/reserves.” The change in title reflected both a desire to retain flexibility in case of revenue shortfalls or expense overages in some categories during the coming year and also to reflect a desire that we build up some reserves so that we will not be entering future fiscal years with virtually no funds in the bank.
The meeting was adjourned at 7 p.m., to allow a subgroup of Board members to convene to plan for the Board’s July retreat with facilitator Richard Brewster.