FICRA BUILDING TRUST BOARD MEETING MINUTES (DRAFT)
Thursday, March 12, 2020
Board Attendees: Howard Stapleton, President; Naomi Grant, Vice-President; Gina Olson, Secretary; Hal Goodell, Treasurer; Jim Braden, Director.
Meeting called to order at: 7:50 PM. Howard thanks those in attendance and requests that all volunteers sign in to properly document volunteer hours.
Minutes from the February, 2020 Trust Board Meeting were approved.
Treasurer’s Report: Hal Goodell
Trust Checking account: Feb 1 Balance: $ 158,594.28, Feb 29 Balance: $ 27,004.17
Trust Capital Checking: Feb 1 Balance: $ 4,053.37, Feb 29 Balance: $ 3,925.45
Trust Reserve Checking: Feb 1 Balance: $ 1,541.00, Feb 29 Balance: $ 1,541.00
Trust Money Market: Feb 1 Balance: $ 40,610.13, Feb 29 Balance: $ 184,638.55
Trust Savings: Feb 1 Balance: $ 208.02, Feb 29 Balance $ 226.92
Trust PayPal: Feb 1 Balance: $ 3,703.46, Feb 29 Balance $ 3,751.71
Funds have been transferred to the Money Market account. After reviewing options, it may be possible that only one PayPal account is required for both the Trust and FICRA because Hal typically needs to move money that comes in to different accounts. Jim noted that a Capital Reserve Account Report will be added in the future. Hal has updated the Trust P&L to align with the 2020 budget, but the numbers still need to be verified. Property taxes will be $3700 this year, which is an increase. Internet expenses (for proposed WiFi) have been added. Hal and Howard to review and make necessary revisions and present at later date for approval.
Standing Committee Reports:
- Audit Committee: Tony Moore reported that letters requesting verification of financial information have been signed. The Audit Committee made up of the newly elected (in the FICRA election of this date) will now begin with the 2019 audit. The names of the members elected in the March FICRA Elections (Joan Broughton, Tony Moore, Jennifer Beard and Diane Abney) will be on the ballot for the next FICRA Building Trust election.
- Emergency Preparedness (EP), Citizens’ Patrol (CP), and the radio club (FIARC): Jim reports that things are going well. Emergency Communication discussions have been interesting. FIARC has been great at investigating options for improvements to the emergency communications systems that will ultimately need approval from the FIEP Committee. Hal reports that the Ham Radio class that was supposed to happen this weekend will be postponed due to COVID-19 virus recommended restrictions/precautions.
- Building & Grounds Committee: Jim reports that work is continuing on projects to repaint the NCC and replace windows. There is a painter on the island who will repaint for $6,500, however we will need a crew of volunteers to assist in scraping off the old paint to obtain this reduced cost. The current plan is to replace, not repair, the windows at an estimated cost of $68,000. The windows to be replaced are the entire back, the front and 3 on south side. Jim will be working with the Building Committee to help preserve the historic aspects of the structure.
- Nominating Committee: Jim provided a list of nominees for the next FICRA Building Trust election.
- FICRA Trust Board Nominees: (5 positions)
- Audit Committee Nominees (minimum three w/maximum one Board member):
Unfinished Business: None
New Business: The FICRA Trust Annual Meeting (Elections) and Board Meeting normally scheduled for April have been cancelled in compliance with Federal, State and local guidance regarding the Coronavirus Response (COVID-19). Future meetings will be scheduled when appropriate and properly noticed in accordance with the FICRA Building Trust Bylaws.
The meeting adjourned at 8:15pm.
Respectfully submitted by Gina Olson, Secretary.