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

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