Alaska State Fair Board
Minutes
Alaska State Fair Board of Directors
Board Room on the Fairgrounds
December 11, 2008
President John Harkey called the meeting to order at 7:00 pm. Present: directors Pete Probasco, John Erickson, Carol Kenley, Bonnie Quill, and Bruce Bush via telephone. Absent: director Charlie Willis. Also present were general manager Ray Ritari, recorder Donna Tate and members Larry Longenecker, Pam Meekin, Red Secoy, Ben VanderWeele, and Jamie Allen, and non-member Roger VanderWeele.
Kenley/Erickson/MCU: To approve November 13, 2008 minutes, November 20, 2008 finance committee meeting minutes and consent agenda. Executive session was added to the consent agenda.
Manager Ritari reported total assets of $5,348,846.73, total current liabilities of $95,997.99, long-term liabilities of $428,704.80, and total equity of $4,824,143.94 as of November 30, 2008. Included in the assets was $1,373,142.21 in general checking account. Ritari also reported month and year-to-date total income, expenses, and net income, noting the improved cash position over the previous year.
Probasco/Kenley/MCU: To approve November 30, 2008 financial report.
General Manager’s Update
Ritari report included an update of the Fair’s beginning efforts toward ADA compliance, our eligibility for grants and low-interest loans for capital upgrades and historical preservation projects, entertainment scheduling, and he said a ten year carnival contract is ready for signing. He announced there are no new developments on the energy projects. The appraisals report and the NIT status will be discussed in executive session.
Action Items
- Change of Registered Agent Resolution - Kenley/Probasco/MCU: To approve. Issue will be addressed in the February annual membership meeting.
- 2009 Annual Budget – Quill/Probasco/MCU: To approve as presented.
- Amend Health Insurance Section 125 Plan To Include A HSA – Probasco/Kenley/MCU: To approve.
- Set Staff Year-end Bonus – To be considered in executive session.
Member Comments
There were no member comments.
Board Comments
Directors expressed appreciation to Ben and Roger VanderWeele for attending and their input on the future for the Hamilton Farm. Quill announced that the Mat-Su Convention & Visitors Bureau is the recipient of a National Scenic Byways grant to develop a plan for a Gateway Destination Visitors Center. Erickson is pleased the carnival contract is finalized and noted the significance of the liability clause. He is looking forward to learning things at IAFE that will better our Fair. Probasco feels working to be ADA compliant is very important. Harkey commended Ritari for his success on the carnival contract and the 2009 budget.
President Harkey recessed meeting at 8:45 pm.
President Harkey reconvened the board at 8:50 pm and entered into Executive Session to discuss personnel and contract issues. The appraisals report and NIT status were discussed. No action was taken.
Returned to regular session at 9:20. A year-end bonus was approved for staff. Meeting adjourned at 9:23 pm.
|
