Board of Directors Meeting Minutes December 13, 2010

Board of Directors (BOD) Meeting Minutes

December 13, 2010

 

Board Members in Attendance:  Matt Parsons, Bob Young, Jennifer Crossett, Chuck Raisch, Ryan Blake, Bryon Farnsworth, Heather Day-Richter, Daniel Storch, Colleen Hackley, Rebecca Hudson, Kim Churches

Board Members Absent:  None

Staff:  Nancy James, Greg Jaworowski

Guests:  Shelly Mixon

 

  1. 1.    Welcome
    1. Parsons called the meeting to order at 6:07 PM
    2. Parsons took attendance and established quorum. Approval of the November 20, 2010 board meeting minutes was set in motion by Parsons, all in favor (8), all opposed (0), abstain (1), absent (2) - the November 20, 2010 minutes were approved.

 

  1. 2.    Financials and Finance Committee Report
    1. Nancy James reviewed the November financials with the board.

                                          i.    Positive net income in November.

                                         ii.    Financials may adjust with a complete review that is being conducted with the new accounting firm.  Need to review enrollment numbers.

                                        iii.    Payroll analysis has been complete.  Double checks were booked but not written.  Hand written checks.

                                        iv.    A number of donations have been received, classroom expenses were lower than expected and there were no audit charges in November.

  1. Bryon Farnsworth reviewed the Finance Committee Report

                                          i.    Audit, Management Letter and IRS 990 are complete.

                                         ii.    Bryon Farnsworth reviewed the Audit, Management Letter and 990 with the BOD.  All three were given a clean bill of health.

                                        iii.    Approval of the audit was set in motion by Crossett, all in favor (10), all opposed (0), abstain (0), absent (1) - the audit was approved by the BOD.

 

  1. 3.    Executive Director (ED) and Enrollment Report
    1. Nancy James reviewed the ED Report. 

                                          i.    Fundraising.  Nancy enjoys all the work that is being done.

                                         ii.    Licensing report – no further updates.

                                        iii.    Line of Credit – still in the process of investigating.  CO Enterprise fund.  Working with accounting to investigate and MAC could pay fees and use the line if needed.

                                        iv.    Audit is complete.

                                         v.    Notified families about work bond.

                                        vi.    Enrollment report to be provided after Dec 20 once it has been thoroughly reviewed by the new accounting firm.

 

  1. 4.    BOD Holiday Gift to Staff
    1. Historically the MAC BOD has provided a gift to MAC staff.  That tradition will continue.

 

  1. 5.    BOD Calendar Milestones
    1. Updated BOD meeting date schedule was provided to the BOD.  Provides a high level view of agenda items and milestones.

 

  1. 6.    Committee Updates and Reports
    1. BOD Development – No updates
    2. Fundraising – Day-Richter asked the BOD to review the drafted Gift Acceptance Policy by the next BOD meeting – Jan 24, 2011.  Policy lays out the kinds of gifts that MAC would accept and the restrictions that would be placed on those gifts.
    3. Strategic Planning – 2 activities currently taking place: 1) Parent survey – beta test sent to the BOD members.  Survey to be adjusted based on feedback and will be sent out to parent body in January.  2) Listening sessions – sessions have been conducted with assistants, leads and administrative staff.  Next steps are continuing listening sessions with administrators and with some parents via a signup.  Write ups to be provided in January.
    4. Building Committee – Focused on the historic landmark district application that is ongoing.  Application was not submitted by MAC.  Jan 18 is public hearing.  Also examining - zoning compliance, licensing questions and potential for solar.
    5. PMAC – No updates
    6. Gala – Continuing planning.  Currently under budget.  Invitations to be sent out along with response cards.  Committee is soliciting sponsorships.

 

  1. 7.    BOD Other Updates
    1. Approval of the MAC Whistleblower Policy was set in motion by Raisch, all in favor (10), all opposed (0), abstain (0), absent (1) - the Whistleblower Policy was approved by the BOD with a few minor edits to be made before presenting to MAC employees.

 

  1. 8.    Adjourn
    1. Parsons adjourned the meeting at 7:47 PM.