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06-01-07 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting Minutes June 1, 2007 Attending:Rick Rennhack,President,Bill Greenwood,Becky Rogers,Julie Timmerman,and Barbara Brizuela. Lawson Associates:Missy Gale,Barbara McColm,and Ellen Ray. L Rick Rennhack called the meeting to order at 8:40 a.m. IL Minutes from the May 4, 2007 meeting were reviewed. Motion made by Bill Greenwood and seconded by Julie Timmerman to approve the minutes. Motion carried. III. The Financial Report was reviewed. A. Motion made to move $51,283 to the school account was made by Bill Greenwood and seconded by Becky Rogers. Motion carried. B. Motion to move $200,000 to the Fidelity Money Market account from First Financial was made by Bill Greenwood and seconded by Julie Timmerman. Motion carried. C. Julie Timmerman agreed to call the eight families who have not fulfilled their Blacksmith pledges which amount to $18,650 IV. Capital Campaign Report: A Missy Gale reported pledges of $542,313 including new pledges from the Hamiltons and the Joilissaints. B. Letter to Mayor Bradley and the BOA requesting a Certificate of Obligation for $2.5 million dollars was approved for presentation at the June 11"'of BOA. C. Letter to parents of WA students was approved to go out next week by US mail updating families of the progress on the capital campaign and successes achieved by the school this year. D. A reception for parents and kids who will be new to Kindergarten in Fall 2007 is planned for June 1. Dave Leiber will speak as well as Laura, Rick, and Barbara Brizuela. E. Missy reminded the group that it was important to continue the momentum through the summer as we are 6-8 months behind. Rick Rennhack announced he would make his gift today while at the Town offices. He encouraged all Board and Steering Committee to lead with their gifts now. It is important that our leadership make their gifts in order to ask others to join the building campaign. F. It is recommended to continue to work to raise the $5 million goal before considering other projects. V. Selection committee report was given by Ellen. Angie Gofredo will begin on June 4. She will meet with Ellen on Tuesday and begin an orientation process and setting priorities. She will attend the Steering Committee meeting on Wednesday and meet with Ange Bumgarner, Gallery Night 2008 Chair, and Town Employees on Thursday. The budget will need to be revised to allow for salary and benefits. Becky Rogers will invite Angie to attend the June 10"'function at her home to honor the outgoing Aldermen. Town employees, Foundation Board and Aldermen are invited. VI. President's Report: A. Three prospects will be asked to consider Board service. Julie Timmerman will talk with Margo Hundley, Rick Rennhack will talk with George Ledak, and Chris Noonan will talk with David Lee. B. By-Laws: Three Bylaws changes need to be presented to the BOA. 1. Fiscal year to coincide with the School's fiscal year, Sept. 1 —Aug. 31s` 2. Ex-officio (non-voting) members to include Head of School, HOC designee, WAAC, etc. 3. Expand the voting members of the BOD from 7 up to as many as 15. VI. Executive Director thanked Laura Wheat for underwriting the Foundation's ads in the Black Cow. VII. Next Board meeting (9:30 a.m.) shall follow the Steering Committee (8:30 a.m.) July 13, 2007, at Becky Roger's home. VIII. Meeting adjourned at 10:15 a.m. Approved: Date: