Board of Directors Minutes

Foundation Board Minutes

June 13, 2013

BOARD OF TRUSTEES MINUTES – July 11, 2013

ROTARY CLUB OF ROSEVILLE FOUNDATION

Note: 1st Meeting of New Club Year

Call to Order:Meeting called to order at 11:05am by Fred Croy. Present were TrusteesFred Croy, John DeLacy, Jim Gray, Brian Gladden, Allan Bernhard, Mike Reinero, and Club President Megan Boespflug.

Reading of the Minutes: The 6/13/13Trustee meeting’s minutes were reviewed. MTA by Jim Gray and secondedby Fred Croy. Minutes unanimously approved.

Treasurer’s Report: Mike Reinero discussed several items. Highlights as follows:

Mike reviewed actual to budget for the 2012-2013 FY across Charitable Giving, Community Service, New Generations, International and Vocational service avenues. Approx. $3,800 of budgeted funds were not used in New Generations offset by a $2,100 overage in International fundings. Excess Community Services funds of $990 will be utilized for the Family Green Survival program. Overall, on a combined basis there were approximately $2,700 of net unused funds which will be carried over to the new year.

Club President Megan Boespflug presented the proposed 2013-2014 budget for the Foundation which entailed projected revenues of $59k and expenditures of $48k for a net increase of $11k. She will present that to the Club’s board for review and approval at their next meeting.

The Fireworks booth appears to have netted approximately $8k this year.

As of 6/30/13 the Foundation had $77k in checking and $295k in the Schwab account (vs. $300k at 6/13/13.

The Transfer of funds from the separate Seafood Dinner account to the Foundation general account in the amount of $38k has been made to zero out the 2013 Seafood Dinner account, which has been closed (imprest account).

MTA Treasurer’s report by John DeLacy, seconded by Jim Gray. Unanimously approved.

New Business:

Fred Croy was re-elected as a Trustee and subsequently confirmed as the President. Mike Reinero started his new term as a Trustee and will remain as Treasurer. All current officers will continue in their present positions for this new fiscal year.

Megan Boespflug is recognized by the Foundation Trustees as the current Club President and Foundation Trustee for a one-year term.

David Fiddyment was voted in as an Honorary member. MTA by Mike Reinero and seconded by Megan Boespflug. Unanimously approved.

Old Business:

The Investment Policy is being prepared by Russell Trumm and should be ready for review by the Trustees on July 16th.

Next Meeting:7/11/13 @ SVCC at 11am.

Adjournment:Meeting adjourned at 11:30 AM.

Respectfully submitted by Secretary Allan Bernhard