STARK COUNTY EDUCATION FOUNDATION
JUNE 6, 2017
Stark County Elementary
Wyoming, Illinois
6:00 PM
Reminder: A Quorum is 4 voting members.
In Attendance:
Judy Taylor Jerry Klooster Jenna Bibb
Angie Roark Angie McGrath Diana Gilles
Lynne Paxson Rob Finney Doug Hampton
II. Call to Order
At 6:00 PM, President Jerry Klooster called the meeting to order and noted a quorum was present. Secretary J.Taylor took roll.
II. Secretary’s Report
Secretary J.Taylor had previously emailed the minutes of the March 7, 2017, regular meeting and the minutes of the May 1, 2017, special meeting to all Foundation Board Directors. L.Paxson moved to approve the minutes as presented. A.McGrath seconded the motion. The motion carried unanimously.
III. Treasurer’s Report
Treasurer J.Bibb presented the Treasurer’s report.
Balances as of June 5, 2017
General Checking 18,005.63
General Savings 4,576.42
Poe Checking 95,166.79
Poe Savings 4,755.83
Elsie Mueller Investment Fund 159,800.00 (Baird Investment Group)
Margaret Poe Investment Fund 966,576.12 (Hilltop Wealth Management)
Boarman CD 13,000.00 (State Bank of Toulon)
Buchert CD 8,504.63 (State Bank of Speer)
Total 1,270,385.42
J.Bibb also presented a breakdown on the Foundation savings account. It indicated balances in current reserved funds and estimated projections for December 31, 2017. Anticipated needs will guide fundraising and spending decisions for 2017.
A recommended Foundation budget with projected fund balances on December 31, 2017, was also presented.
J.Bibb also noted that the Foundation has not yet received reimbursement from the Stark County Education Association for their 2017 scholarship.
A.Roark moved to accept the Treasurer’s report as presented. R.Finney seconded the motion. The motion carried unanimously.
IV. Approval to Pay Upcoming Bills
L.Paxson moved to authorize the Treasurer to pay current and upcoming bills. D.Gilles seconded the motion. The motion carried unanimously. At the next meeting, the Treasurer will report any such payments for final approval by the Directors.
V. President’s Report
President J.Klooster had no new information to report.
VI. Committee Reports
A. Scholarship Committee (B.Rennick, R.Nowlan, A.McGrath, B.Lamb, D.Hampton)
n Twenty-four graduates in the Stark County Class of 2017 completed the application process for awards. This year, the names of award winners were not included in the program.
n D.Hampton will provide Treasurer J.Bibb with information for the second, third, and fourth installments of previous Poe awards.
n A.McGrath reported speaking with 2014 graduate, Ryne Daum, with respect to forfeited Poe funds. 2014 Margaret K. Poe Scholarship awardee, Jacob Foster, is no longer attending college so is ineligible for the remaining installments of his award. In that year, Ryne Daum was named as the alternate for Toulon. He is still eligible and has agreed to accept the award. A.McGrath moved to send the remaining $5000 to Ryne Daum. J.Bibb seconded the motion. The motion carried unanimously. The Treasurer will send a check to Ryne Daum.
n J.Taylor reported that she had contacted Nancy Trainor to advise her that there were no qualified applicants for the Dave Trainor Memorial Endowment for Foreign Language in the Class of 2017. N.Trainor would like to leave the funds with the Foundation until there is a qualified candidate.
B. Fundraising/Special Events Committee (A.Roark, B.Lamb)
n J.Klooster reported progress on the golf outing scheduled on June 24 at Lake Calhoun. He has publicized the event. To date, he has 10 hole sponsors and expects more. Four teams have registered. Tee-time is 9 AM. It will be an 18 hole Texas Scramble. The cost is $40 per person. There will be a lunch. Mulligans will be available for purchase. Helpers should arrive by 8 AM.
C. Investment Committee (B.West, B.Rewerts, J.Hampton)
The committee had not met. No action was necessary
D. Teacher Grants/Student Special Needs Committee (J.Bibb, L.Paxson, D.Gilles)
The committee had not met. No action was necessary.
VII. Old Business
Annual June meeting topics
1. Approve Scholarship Recommendations
These were approved at the special meeting on May 1, 2017. No further action was necessary.
2. Update on Kenneth Ebert Scholarship
J.Klooster reported that he and J.Taylor had met with Doug Parrott at the State Bank of Toulon. D.Parrott and the Ebert Family want the Foundation to assume management of the Kenneth Ebert Scholarship. The parties are working on clarification of responsibilities for the Foundation. The goal is to have these determined for the Class of 2018.
3. Identify and Recommend Foundation Directors
n Doug Hampton reported that he and Jackie Hampton would be stepping down from the Board of Directors for personal and work reasons. A.McGrath moved to accept with regret the resignations of Doug and Jackie Hampton. A.Roark seconded the motion. The motion carried unanimously. The resignations will be effective June 30, 2017.
All Directors expressed appreciation for both Doug and Jackie’s years of service.
n The previous resignations and an earlier resignation left three empty seats on the Foundation Board of Directors. The members present brainstormed the names of possible replacements. J.Taylor will contact these people. She will invite those who are interested to the September meeting.
VIII. New Business
A. Action Relative to Golf Outing
No action was necessary.
B. Action Relative to Recommendation for Developing Annual Budget
J.Bibb moved to approve the recommended annual budget as presented. A.McGrath seconded the motion. The motion carried unanimously.
C. Agenda Items for Next Meeting
1. Officer elections
2. Approve Teacher grants
3. Approve Directors
D. The next regular meeting date will be Tuesday, September 5, 2017, at 6 PM in the Unit Office.
IX. Adjournment
The meeting was adjourned at 7:10 PM.