Corvallis-OSU Symphony Society Board Meeting
Tuesday, September 7, 2010
Old Mill Center for Children & Families, Corvallis
Members in attendance: Tony Ashby, John Byrne, Marlan Carlson, Jack Enbom, Ron Guenther, Janice Hardy, Kathy Heath, John Hope-Johnstone, Ken Krane, Carol Mason, Chris Rochester, Whitney Olsen, Kay Schaffer, Pam Sorensen , Lanny Zoeller
Members absent: Tina Green-Price, Karin Magnuson, Tom McClintock, Beth Ray
Also present: Betsy Rock Fudge, Project Manager
Officers Reports
The meeting was called to order at 5:41 by President Ken Krane. Ken asked for additional agenda items.
Approval of minutes:
Secretary Tony Ashby presented the minutes of the August 9, 2010 meeting, and noted that corrections were needed to the version emailed to the Board prior to the meeting. Lanny Zoeller moved for approval, with noted corrections, and the minutes were approved by acclamation.
Treasurers report:
Ken Krane reported that he and Treasurer Ron Guenther have been working on an upgraded WIMP report. A sample of the report was distributed. Chris Rochester stated that he would like to see a financial report that compares current financial activity to the same period from the previous year.
Ron presented the August Treasurer’s Report, Balance Sheet as of August 31, 2010, Profit & Loss Statement July through August 2010, and a transaction detail report showing expenses to date for the Botti concerts. Ron stated that the Botti concerts will be listed as a separate account. Lanny Zoeller asked if he should still be keeping a separate Botti concerts budget. Both Ron and Carol Mason, Botti Committee Chair, requested that he continue to maintain a separate Botti budget.
Whitney Olsen requested a transaction detail report for marketing.
Ron reported that the Citizens Bank certificate of deposit is coming due and he would like to let it roll over and hold it in reserve for another six months, until March 2011. Ken asked the board if there was any objection to letting the CD roll over for another six months. None was voiced.
The Endowment account at Oregon Community Foundation lost $2000 in value last quarter. $10, 454.44 for the endowment fund is being held in the Citizens Bank savings account until the OCF shows a better return. The goal is to build the OCF account to over $100,000. Chris Rochester asked when we could get funds from OCF. Marlan Carlson replied that he is not sure how COSUSS directed OCF to issue distributions, and it may be that they are being reinvested until a certain fund amount is reached.
John Byrne noted that the Conoco-Phillips endowment fund at the OSU Foundation is not listed with the other foundation accounts on the financial reports.
Ron Guenther presented a draft budget for 2010-2011. Ron and Marlan developed the budget. Ron noted that we are a little shy on expenses. Last season, hall rental was covered by other OSU funds, at no cost to COSUSS, but this year that is unlikely to happen. A $12,000 expense for hall rental is included in the budget. The normal operating income and expenses are based on experience, but figures for the Botti concerts are not, and are therefore not as certain.
Old Business/Committee Reports
Chris Botti:
Carol Mason reported that ten Botti DVDs were purchased for PR use. The Botti committee is recommending a VIP reception Saturday, 3:30pm to 5:00pm at Hilton Garden Inn. The committee is also considering offering pre-concert refreshments in the LaSells Stewart lobby.
On-line ticket sales:
Carol Mason reported that tickets are now online at TicketsOregon. Ten tickets have been sold so far. TicketsOregon will be printing season tickets for COSUSS.
Season ticket sales:
Betsy Rock Fudge reported season ticket sales at 373 seats (193 patrons) for an income of $39,070. This does not include online sales.
Marketing:
Whitney Olsen reported current and upcoming marketing includes:
Banner over Harrison Street through September 20th
5 x 9 color ad on back page of Fall Festival program
Two ¼ page ads in the Barometer
Ad in the Portland Youth Philharmonic program in collaboration with OSU Music Department
Participation at Farmers Markets and Fall Festival
Advertisements on pedicabs
Darkside Theater advertisements
KGAL, KWAX, OPB Radio and TV
In-trade advertisements with Chamber Music Corvallis, Chintimini Music Festival, and the Eugene Ballet (more to come)
By-laws and Policies:
Insurance:
Sponsorships:
John Byrne and Carol Mason reported that we currently have sponsorship commitments of $5,000 for the regular season and $3,000 for the Botti concerts. Jack Enbom stated that he expects to hear from Fred Meyer this week or next regarding a sponsorship. John Byrne stated that the lesson learned on sponsorships this year is when approaching sponsorship prospects you often end up with an advertisement instead.
Program advertising:
Carol Mason reported that we have twenty-one advertisers for the regular season program. Income from these advertisers will be $6,525. Twelve of the advertisers are new, but unfortunately renewal of ads from last year is lagging. Ken Krane stated that $6,000 in advertising income is needed to cover program printing costs.
New Business
Children’s Concert:
The Children’s Concert is October 12 at 1:15pm. Volunteers are needed to help direct guests. Ken Krane said a new coordinator is needed, as Sally McBride is retiring from the job. John Hope-Johnstone will help with the coordination this year, but can not do so permanently.
Fall Festival and Farmers’ Market:
Kay Schaffer will coordinate COSUSS participation at Fall Festival and Farmers Market.
Next Meeting
The next board meeting will be 5:30pm, Tuesday, October 12, 2010 at the Old Mill Center for Children and Families.
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COSUSS Board Meeting 9/7/10