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