Unapproved Minutes

Present: Winsor Pop, Robert, Manny, Richard, Steve, Laura, Michael, Keith, Marlaine, Mary Ann, Myron, Alan, Stuart

Staff: Bert, Shawn, Lucie, Robin

Guests: Sean, Winsor, Michael

Laura Called the meeting to order: 6:44 pm

1) Voted Sean, Winsor, and Michael

2) Elected new Officers:
    Steve Durkee, Board chair
    Sean Daly, Vice Chair
    Mary Ann Hewitt-Howe, Treasurer
    Brian Jepson, Secretary
    
Steve took over running the meeting, 6:48pm

1) Steve gave the Board chair report:
    We discussed the meeting time
        5:30 meet for food
        6:00 call to order
    
2) Fiscal Report
    Shawn Wallace gave the Fiscal report
    Shawn showed us the 2004 Budget in preview form, but it is
    not balanced now. (only off by $50k)
    Goal for next month is for Finance Committee to present a balanced budget.
    Summary: AS220 is running $30,000 in the red.
    
3) AS220 Personnel Policy
    Manny: employees will need to sign off on receipt of handbook
    Richard: Make sure it's not a contract
    Brian: asked about record retention policy
    Move to accept policy, Manny seconded
    Passed
    
4) Mortgage Refinance
    Lucie: we should close this Friday (October 17)
        Board had previously empowered Bert to sign
        The new slate requires this vote to happen again.
        Refinancing:
            5%  10 year note
            5 year fixed (refinancing) 
            $410,000
            Exclusively with Sovereign
        Current rate is 7%
    Mary Ann motioned to authorize Bert as signatory
    Manny seconded
    Manny abstained
    Passed
        Line of Credit:
            Restricted to capital improvements
            Steve: asked if there was a cap on staff discretion
    Michael motioned to authorize Bert as signatory for line of credit   
    Sean seconded
    Manny abstained
    [Note: Robert to mail wording for inclusion in the minutes]
    
    Lucie: title search showed three things:
      * Discharges needed from city on previous loans
      * When we created dark room/print shop, we didn't get all necessary permits
            It will probably be impossible to get the permits
            Inspectional services said we need to shut them,
                * Inspector will come and remove violations. Both
                  rooms and associated operations will remain closed.
                * AS220 will look at outside space, exploring partnership
                  with RISD

5) Lucie passed around the Capital Campaign booklet she is working on with Winsor
    Lucie: we are shortlisted for 75,000 through Sen. Reed's office.
    100,000 request into RI Historical Preservation

6) Fool's Ball Report
    Myron: The themes under consideration were:
        Dr. Seuss (no)
        Harlem Renaissance (this has been tentatively approved)
        Board Games (no)
        the notion of space (no)
        
    Talking about blocking off the street.
    Other organizations may showcase, but they will not be collaborating.
    22nd May.
    Think about corporate sponsorship.
    
7) Director's Report
    Bert: Lila Wallace recommending to their board a $300,000 grant
        Bert thanked Stuart, Laura, and Robert for their service.

8) Old Biz
    Robin: keep next meeting on current date? (November 11, Veteran's Day)
    Moved to following Tuesday (18th)
    
9) Adjourned at 8:07
    Steve motioned
    Myron seconded