BOARD OF DIRECTORS MYRNA LOY CENTER October 13, 2003 MINUTES The Board of Directors of the Myrna Loy Center met October 13, 2003. President Melinda White called the meeting to order. Board members present: Melinda White. Attending the meeting were Ali Bovingdon, Melinda White, Arlene Parisot, Bob Shepard, Paul Edwards, Cindy Gaffney, and Kevin Hudson Non-Board members present: Executive Director Ed Noonan , Development Director Linda Carlson Approval of Minutes The July minutes were read. Ali Bovingdon moved to approve the minutes and Kevin Hudson seconded the motion. The motion carried. The September minutes were read and were amended with the correct spelling of Bob Shepard's name. Paul Edwards moved to approve the minutes as amended and Arlene Parisot seconded the motion. The motion carried. Executive Director's Report Ed talked about the Echo's of Discovery and the timeline for 2004,5 and 6. Bob Sheppard asked about how the funding for projects has been reported and reflected in the budget. The finance committee will meet and discuss ways to improve the format. Ed also shared information about the Charles Kuralt Memorial. The continuation of the Echo's of Discovery Project and the next few years was explained by Ed and what our responsibility is towards the funding. Executive Committee No Report Finance Committee Finance Committee: Ed and Melinda explained the cash flow problems we are facing in the next two months. Most importantly is the ability of the Board to help raise the necessary money to create a challenge grant. There was a discussion about how restricted funds are reported and it was agreed upon that we need to put a better format in place. There was also a discussion about our responsibility as a fiscal agent for special projects. There was a general discussion about the need to also raise a reserve fund for the Myrna Loy. The finance committee was meeting this week with Teri Drake. Some budget cuts were discussed and the question was raised about reporting procedures. This will also be worked on by the finance committee meeting this week. Fundraising Committee Linda gave a run down of the current strategy to raise 10,000 immediately. The first 5,000 will be raised in October and the second in November. There is currently 4,000 committed and a lot of folks left to call. Board members were given a list to choose from. The calls need to happen immediately to get our cash flow in a good place. Ed reported that the next round of grants are in front of us. Board Development Committee The board agreed to table discussions regarding board development until after the first of the year. Program and Marketing Committee No report Building Committee No report Old Business None New Business None The next meeting is scheduled for Monday, November 10 at 6:00 p.m. _______________ moved to adjourn the meeting. _____________ seconded the motion. Motion carried - meeting adjourned. Minutes approved by: