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12-17-18 WAF MinWESTLAKE ACADEMY FOUNDATION Board Meeting December 17, 2018 Board Members in Attendance: Sean Shope, Laura Luckett, Zan Jones, Debbie Kraska, Ahu Sieg, Michael Colby, Leah Rennhack, Karen Stoltenberg, Christine Ross and Leigh Sansone Others in Attendance: Debbie Piper, Marlene Rutledge, John DeBurro, Assurance Services with Weaver, Mechelle Bryson, Shelly Myers and Julie Kelly I. D. Kraska called the meeting to order at 8:38AM. II. Motion to approve minutes of November 12, 2018 meeting by L. Sansone, second by M. Colby. Motion carried. III. Financial Report  John DeBurro with Weaver (auditor) presented results from this past year’s audit. Audit was performed in accordance with Generally Accepted Auditing Standards (GAAS), and resulted in an unmodified opinion with no significant deficiencies or material weaknesses noted.  He reported that due to changes in auditing requirements, WAF may need to change financial coding to comply. Financial department will work with the WAF office to determine any changes needed.  S. Shope reviewed Financial Reports with Board, and reported that an unrestricted external grant of $125k was received from the Baugh Foundation. Grant is currently undesignated until Board determines use.  S. Myers requested Board’s direction regarding covering the cost of credit card charges for events other than the Blacksmith Annual Fund. Board discussed and agreed that each event’s proceeds would cover its associated credit card expenses.  K. Stoltenberg moved to approve Financials, second by A. Sieg. Motion carried and Financials approved. IV. Marketing Committee  No report. V. Grants Review  M. Bryson presented grant request for Cyber Safety & Digital Citizenship speakers. Motion to approve fully funding request up to $4,000.00 by C. Ross, second by K. Stoltenberg. Motion carried.  M. Bryson presented grant request for IMES2019 conference attendance for keynote speakers and event supplies. Motion to approve fully funding request up to $3,000.00 by L. Sansone, second by K. Stoltenberg. Motion carried.  M. Bryson presented grant request for Performing and Fine Arts equipment and resources. Motion to approve fully funding request up to $36,970.00 by M. Colby, second by Z. Jones. Motion carried.  M. Bryson presented grant request for Professional Development Opportunities Aligned to the Mission and Vision of WA. Motion to approve fully funding request up to $10,223.00 by K. Stoltenberg, second by L. Rennhack. Motion carried.  M. Bryson presented grant request for Chaperone travel expenses of Quebec trip for French Honor Society members. Motion to approve fully funding request up to $4,500.00 by L. Sansone, second by K. Stoltenberg. Motion carried. VI. Development Committee  Purpose of $125,000 grant from Baugh Foundation o S. Myers reported on grant received from this private foundation, which has a current WA parent on its board. Board discussed potential options. Decision will be made at a later date.  Gallery Night Fund an Item o Discussed possibilities for this year’s GN Fund an Item. o M. Bryson stated that currently there is a need for a mid-size bus. A. Burt is researching options. Other stated need could be start of capital campaign. VII. President’s Report  None VIII. Executive Director’s Report  None Other Business None K. Stoltenberg moved to adjourn the Board meeting, second by L. Sansone. Motion carried. Meeting adjourned at 9:43 AM. Next Meeting: Monday, January 14, 2019 at 8:30 AM, Lee Fieldhouse, WA