November 2011 Minutes

Minutes

Alaska State Fair Board of Directors

Meeting Held on the Fairgrounds

November 17, 2011

 

Consent Agenda

  1. Call to Order 7:05– Roll Call
    1. Present: Harkey, Tracy, Kenley, Bush, Quill, Consenstein; Absent: Stryke
  2. Approval of Agenda
  3. Approval of Minutes

a.     Oct 13, 2011 Regular Meeting Minutes

b.     Nov 9, 2011 Election Committee

c.     Nov 17, 2011 Election Committee

d.     Nov 17, 2011 Rules Committee

Quill/Tracy/MCU: To approve Consent  Agenda with addition of  Election Committee Meeting Date under Reports and Information Items and  Resolution #10  under Action Items

Reports and Information Items

  1. Finance Report – Kenley reported balance sheet of reflected total current assets of $2,795,514.05 total fixed assets of $4,171,619.59, with total assets amounting to $6,967,133.64, total current liabilities of $126,343.36, total long term liabilities of $0.00, total equity of $6,840,790.28 with liabilities and equity totaling $6,967,133.64. She reported total income of $310,742.05 and total expenses of $371,070.30 for October, YTD income of $6,896,518.19 and YTD expenses of $5,749,451.60, resulting in YTD net income of $1,147,066.59.

Quill/Stryken/MCU: To accept Finance Report as presented.

2.   General Manager’s Report – Ritari reported 2012 budget being readied for Finance   Committee, Parking  program being evaluated, Fair-produced Brewfest modestly profitable-provided a good fun event for community -recommended continuing, and said placement of “plaque monument” needs to be determined.

  1.  Scholarship Program – Program received $3,600 from sale of Posters.
  2. Set Scholarship Committee Meeting – Meeting set for January 2013.
  3. IAFE programs/workshops/RT’s  – Scheduling, attendees, programs discussed.
  4. Set Finance Committee Meeting – Meeting set for Monday, Nov. 21, 2011, 9:00 a.m. at Craftsman House.
  5. Election Committee – Next meeting set for Tuesday, December 20, 2011, 8:30 a.m. at Craftsman House.

Action Items

  1. Resolution #7-2011 Holiday Ball Alcohol Permit  Kenley/Quill/MCU: To approve allowing the use of the Alaska State Fair, Inc. liquor license for the Holiday Ball, Raven Hall, December 12, 2011.
  1. Resolution #8-2011 Addition to ByLaws, Article III, Section 2 Kenley/Quill/MCU:  To approve establishment of  provision regarding replacement directors and unfinished Director terms.
  2. Resolution #9-2011 Farmland Trust Kenley/Quill/MCU : To approve entering into an agreement with Farmland Trust with certain Exceptions.
  3. Set 2012 Employee Retirement Contributions Quill/Kenley /MCU : To approve  4% contribution to Employee Retirement Fund.
  4. Purchase Sign Printing Machine via Capital Budget Reallocation Kenley/Tracy/MCU : To approve purchase of Sign Printing Machine via capital Budget Reallocation.
  5.  Fairbanks Concerts – Ritari said there is possibility of booking large band for two days at Fair and additional days at Fairbanks.
  6. Resolution #10-2011 Amendment to ByLaws, Article II Quill/Tracy/MCU – To approve amendment allowing Mail-In Voting.

 

President Harkey recessed meeting at 9:35 p.m.

Executive Session

President Harkey called Board into Executive Session at 9:51 pm and adjourned at 10:33 pm.
Kenley/Tracy/MC: To authorize General Manager Ritari to act on Fair’s behalf in resolution of pending legal issues.

Kenley/Tracy /MC: To approve personnel bonus pack for 2011.

 

President Harkey adjourned meeting at 10:40 p.m..

Comments are closed.