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DTSTART;TZID=America/Anchorage:20160223T183000
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SUMMARY:Finance Committee meeting
DESCRIPTION:Agenda for meeting February 23\, 2016 \n Old Business \n\nAnnual Reports progress/ internal audit\nFinance and insulation project update\nFinancial plan for 2016 cabin projects\, including water\nGVEA GoodCents Program?\n\nNew business \n\n IRS 1099 Form update for Treasurer\nSafety Deposit Box\nGCI bills\nCRS 2016 grant status\nFred Meyers Community Sharing money\nProcedure for Inventorying Restricted Funds\nClausen Cabin Restricted Funds\nPick-Click-Give program fee due\nAlaska Library Association membership\nHale & Assoc. Insurance\nDraft Finance Report to the Board\n\nAdditional items for Finance Committee meeting agenda: The Alaska Community Foundation\, which manages our endowment\, will need a resolution from the board regarding fund advisors & donor central (electronic statements & other online info). I talked to Alexandra Becker\, our endowment contact\, about this\, and also got our website updated with them. I gave her your e-mail\, Mindy. I also told her we were doing an internal audit. \nMinutes\, February 23\, 2016 meeting \n Members present:  Syrilyn Tong\, Deirdre Helfferich\, Mindy Gallagher \nMembers absent: Susan Osborne\, Hal Osborne \nMeeting convened 6:35 pm \nNo minutes from February 9 or 13 meeting were available.  Will need these for next meeting. \n Old Business \nAnnual Reports progress/internal audit –Mindy has completed a preliminary audit and typed up monthly finance reports back to October 2011. \nFinance and insulation project update   \n\nInsulation supplies from Northland Wood cost $1730\, leaving $270 on account.\nOther supply expenses reimbursed to Eric Glos totaled $235.67.\nDoors\, supplies and motion sensor lights from Lowe’s cost $719.78.\n$54.04 was used from SBS account to pay for 2 x 12’s for framing doors.\nLabor cost for installing doors = $500.\nWalls will be mudded\, primed\, and painted by volunteers.  Paint will be purchased.\n\nFinancial plan for 2016 cabin projects\, including water – Additional repair work identified during recent project\, as well as confirmation of 2 x 6 stringers under the floor\, which would not support weight of books\, led us to decide we need a budget plan to present to board for prioritization.  Committee members will research costs as follows: \n\nInstall 36” pocket door and move bathroom walls\, includes insulating remaining wall – price estimated by Eric Glos as around $500.  We have leftover insulation and 2 x 4’s\, which reduces the cost.\nRewire bathroom wall\, move circuit box\, reattach wires/outlets – ST will check with an electrician.\nWhite house – lead paint and/or asbestos? – Mindy will contact Mardy Clayton.\nConfirm Golden Eagle plans to redo septic system and effect on cabin – Deirdre will contact people.\nPrice flooring options:  carpet squares vs. laminate flooring – Susan will check prices.\nCost to add joists to floor\, reinforce sagging beams to support 150 lb./sq. ft. – Hans will provide an estimate of cost.\nNon-electric drip stove\, rough estimate ~ $2000.\nFix water system – unknown at this point since we don’t know full extent yet.\nConstruction of handicapped ramp – needs pricing still.\n\nGVEA GoodCents Program will be applied for when we identify project and budget needs. \nNew business \n IRS 1099 Form update for Treasurer – tabled until Treasurer can make it\, hopefully next meeting \nSafety Deposit Box – ST found that Mt. McKinley Bank had cheaper box rents\, $25 for a 3 x 5 box\, vs. $35 at Denali State Bank for the same size. \nGCI bills – Susan and Mindy have gotten January and February bills paid\, hopefully the auto-pay will work in March. Think the problem was the routing numbers. \nCRS 2016 grant status – All the necessary paperwork has been filed. \nFred Meyers Community money – Quarterly check received for $29.08.  Three households signed up during the quarter; amount reflects 1 – 2 months rather than full 3. \nProcedure for Inventorying Restricted Funds — Next phase of internal audit will be identifying restricted funds from October 2011 forward. Mindy proposed using a ledger system for each fund so that corrections can be made\, then more formal reports created when the audit is done. A separate binder will be made for “Restricted Fund Accounts” Committee agreed this was a good plan. \nClausen Cabin Restricted Funds – Discussed some confusion about allocation of CRS funds.  Will need to bring this up at board meeting for resolution. \nPick-Click-Give program fee due – Tabled until Treasurer present.  Board needs to determine where this money will go when we receive it. \nAlaska Library Association membership –Tabled until Treasurer can report \nHale & Assoc. Insurance – Initial paperwork arrived.  Discussed concerns that the address of Passive House property is incorrect on their paperwork.  Mindy will follow up on correcting that. \nDraft Finance Report to the Board –Tabled until next week meeting.  Much of the report will be budget numbers for consideration. \nACF endowment fund advisors – Deirdre had received communication from Alaska Community Foundation\, which manages our ~ $5\,000 endowment fund.  They request a resolution from the board regarding fund advisors & their donor central system.  Discussed what this entailed\, and will present to board.  Mindy will follow up with ACF. \nMeeting adjourned at 8:35 pm. \nNext meeting will be on Tuesday\, March 1 (confirmed date with Susan\, since we want her present)\, at 6:30 pm. \n  \n  \n 
URL:https://www.esterlibrary.org/event/finance-committee-meeting-5/
CATEGORIES:Finance,Meetings
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