FY17 August BOD Meeting Minutes

Cantus
Board of Directors Meeting—1201 Marquette Avenue, Suite 100
August 22, 2016



Present: Jim Dorsey, Chris Foss, Martha Graber, Wendy Holmes, Patricia Kirkpatrick, Libby Larsen, Noel McCormick, Brock Metzger, Chuck Peterson, Jeff Reed, Karl Reichert, Paul Scholtz
 
Staff: Jeff Bina, Joey Hillesheim, Carly Thornberry
 
Singers: Zac Colby, David Geist, Sam Green,
 
Community: David Ranheim
 
Absent: Katie Berg, Pete Cochrane, Liz Cutter, Craig Shulstad
 
BOARD AGENDA
5:30 - 7:00pm
 
  1. Call to order                                                                                         5:34pm
    1. Wendy Holmes presiding.
    2. Introduced personnel in attendance.
  2. Approve: Minutes of FY16 July meeting
Motion: Chuck Peterson; 2nd Paul Scholtz; approved.
  1. General Report from Jocelyn Hale, Interim Executive Director
    1. Discussed progress of contracts with Mainspring (Romeo and Juliet) and Theater Latte Da (All Is Calm).
    2. Discussed meeting with singers regarding All Is Calm and amendment to contract.
      1. The singers’ interests have been presented to Theater Latte Da and a counteroffer will be presented to singers before finalization.
    3. Plan to sign both agreements by end of the month.
    4. Discussed cash flow situation and the role of board annual fund giving.
  2. Executive Director Search Update -- David Ranheim will join us to report
    1. Discussed Search Committee personnel, process of crafting position description, and timeline.
    2. Asked board to think about their networks and potential applicants.
    3. The committee will create a shorter, marketing description that will be available to board members as they advertise the position.
    4. Discussed edits to the position description, especially pertaining to fundraising and development expectations.
  3. Approve: Authorize Search Committee to make final revisions to the Executive Director Position Description and move forward with advertising the position.
Motion: Karl Reichert; 2nd Libby Larsen; approved.
  1. Chris: Artistic Update
    1. Discussed rehearsal of “No Greater Love Than This.”
    2. Discussed completion of recording sessions earlier this summer and next steps for the album release.
    3. Discussed other possible collaborations, including with Sweet Honey in the Rock, King Singer’s, and Ladysmith Black Mambazo.
    4. Discussed outline of 2017-2018 season.
    5. Discussed chamber music series to launch next summer: “Songs of Travel.”
  2. Chuck: Treasurer’s Report
    1. FY16 Year-End Financials
      1. Explained that Cantus ended the year with approximately a $120K loss – but ended in a strong cash position.
      2. Highlighted fiscal successes from the past year, including meeting Individual Giving goal and keeping expenses low.
      3. Discussed Unrestricted Net Assets and overall deficit for the organization.
    2. Cash Flow Update
      1. Discussed tight cash flow situation in September.
      2. Though staff attempts to keep two pay rolls in the bank at all times, this will not be the case in early September.
      3. Explained that cash projection is contingent upon $10K in board giving in early September.
      4. Board members were encouraged to make gifts early.
    3. FY17 Budget Update
      1. The Finance Committee and the staff worked to budget for a surplus.
        1. The first goal will be to balance the budget. The secondary goal will be to create a surplus.
      2. Discussed the impact of increased singer salaries in FY18.
    4. Auditor Recommendation
      1. Committee placed Request for Proposal to six auditing firms.
      2. Committee recommends Mahoney Ulbrich Christiansen Russ for $8,000.
  3. Accept: FY16 July Financials
Motion: Chuck Peterson; 2nd Martha Graber; accepted.
  1. Approve FY17 Budget:
Motion: Chuck Peterson; 2nd Jim Dorsey; approved.
  1. Accept: Auditor Recommendation
Motion: Chuck Peterson; 2nd Karl Reichert; accepted.
  1. Noel/Carly: Engagement/Fundraising Update
    1. Discussed board giving and distributed individualized ask letters.
    2. Mentioned ticket sales and encouraged the board to purchase a subscription.
    3. Presented progress toward concert sponsorship goal and a need for more prospects.
    4. Committee is currently discussing how to decrease expense and increase revenue for Cantus Idol.
  2. New Business
    1. Suggested future discussion at board meetings about education.
  3. Adjourn
Motion: Jeff Reed, Libby Larsen; meeting adjourned.                                                        7:00pm
  1. Executive Session