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Sakai Foundation Board of Directors Meeting

January 28, 2010

Present:  Josh Baron, Michael Feldstein, Chuck Severance, John Norman, Nate Angell, Ian Dolphin (ex-officio), Mary Miles (staff)

Absent: Maggie Lynch, Ian Boston

Guests for Financial Discussion:  Tamy Arthur, Jim Farmer

GENERAL BOARD BUSINESS:

  • There were no additions or changes to the agenda for this meeting.
  • December minutes were reviewed and modifications suggested.  Mary Miles will revise minutes to reflect the changes and circulate to Board members for approval via email.
  • The February Board Meeting was scheduled for its regular time on February 15.  Ian Dolphin suggested that the meeting be used to invite Alan Marks to provide a 6-month update on the OAE Project.  John Baron will send a note to the Board confirming the February meeting date.

FOUNDATION FINANCIALS AND 2011 BUDGET PROPOSAL

  • Tamy Arthur and Jim Farmer joined the call for this portion of the agenda.  Josh took this opportunity to officially welcome Jim as the Treasurer and also thanked Tamy for the remarkable services she continues to provide.
  • As a general observation, Ian noted that the last 2 or 3 weeks have been very fast-moving.  Collections of delinquent accounts have resulted in some fairly firm commitments.  February should be slightly rosier better than previously expected.  Strong positive commitments are being obtained from A/R Receivables again.  Expectations are that payments will be made within the first two weeks of February.
  • Tamy walked the Board through the narrative to the financials which were provided in advance of the meeting.  She noted that increase in use of restricted cash has declined substantially.  In support of the forecast for 2011, there will be no need to add to that use of funds.  Josh requested that the Board be informed at the point where restricted cash was needed.  John noted that procedures are in place within the OAE project so that any bridging funding of any project will come to the board.
  • The Draft of the 2011 Budget was reviewed.  Slight modifications have been made to UM labor expenses, but the most significant change was that additional projected expenditure had been included based on the renewal of current contracts.  That does not mean that a decision has been made to expend the funds, simply a prudent gesture to include that amount of potential spend.
  • Assumptions for the budget were reviewed; they are essentially the same as in previous versions.  It was noted that travel policies still need to be established.  Based on those assumptions, expecting 2011 to be positive in terms of the fund balance.  For budgeting purposes, it was assumed that the same position is maintained:  same number of members so growth is neutral.   Josh suggested that it might be useful to reflect both losses or gains in membership
  • For budget approval, John Norman suggested that a final document be prepared that does not contain the word “draft.”  Included with that document should be a very brief cover from the Executive Director indicating intent to increase revenue and any other key statements needed.  The Board will then vote on the final document.  Ian indicated that he had hoped to have a work plan to accompany this document but for a variety of reasons connected with staffing changes, that has not been possible.  That work plan will be discussed at the February meeting.  The Board asked Ian to include revenue or membership targets in the final budget, along with basic assumptions (both optimistic and less optimistic).  Chuck Severance suggested the Board give general approval to this document as submitted with the caveat that once Ian has polished and completed that Board anticipated approval.  The Board agreed to that suggestion.
  • The Board suggested that Ian prepare a cover page and present it along with the final budged one week prior to the February Board meeting.  This would allow for a quick review and approval at that time.

RELATED ED Q&A TOPICS

  • Conference planning:  There has been a slight delay in contract negotiations but a location should be announced soon.  The dates are June 13-17 in Los Angeles.  A notice is going out with “hold the date” information. There was an early meeting of Mary Miles, Kim Thanos and Ian to discuss some of the actions that needed to be taken.  Chuck Powell will serve as the Conference Chair.  A small conference organizing group has been solicited with a target for the first meeting to be the week of February 14.  Information on the European Sakai event will be forthcoming.  Those dates are likely to be end of August/start of September, but additional information will be provided to the Board once it becomes firm.
  • Connexions:  Michael Korcuska began conversation with Connexions some time ago.  Ian has continued that dialog with Joel Thierstein and will attend the Connexions Conference in 2 weeks. 

OTHER BOARD BUSINESS

Josh Baron thanked Ian for his efforts in the past couple of months and also thanked the Board members for adjusting their schedule to accommodate this special board meeting.

With no other business before the board, the call was adjourned at 1:52 p.m.

Respectfully submitted,

Mary Miles

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