Minutes
Alaska State Fair Board of Directors
Meeting Held on the Fairgrounds
June 9, 2011
Consent Agenda
1. Call to Order: President Harkey called meeting to order at 7:06pm.
Roll Call: Harkey, Kenley, Quill, Bush, Tracy, Erickson & Consenstein present.
2. Consent Agenda
a. Regular Meeting May 12, 2011
b. Operations Committee Minutes – May 12, 2011
e. Election Committee Minutes – May 17, 2011
Kenley/Consenstein/MCU: To approve Consent Agenda with addition of Replace Treasurer under Action Items and amendment to May 17, 2011 Election Committee Minutes.
Reports and Information Items
1. Finance Report–Treasurer Erickson reported balance sheet of reflected total current assets of $1,978,237.49, total fixed assets of $4,009,866.53, with total assets amounting to $5,988,104.02, total current liabilities of $58,717.97, total long term liabilities of $0.00, total equity of $5,929,386.05 with liabilities and equity totaling $5,988,104.02. He reported total income of $224,703.15 and total expenses of $189,958.75 for May, YTD income of $1,234,141.62 and YTD expenses of $998,618.98, resulting in a YTD net income of $235,522.64.Kenley/Tracy/MCU Accept the Finance Report as presented.
2. General Manager’s Report– Ritari reported we are waiting for final word from the Fire Marshall on log cabin food booths and from Rasmuson Foundation about funding for replacement of the Sheldon Building roof; grant request for sewer upgrade has gone to Mat-Su Health Foundation, and $150,000 request to State Legislature to help fund the Alaska Native Culture program at this year’s fair is still pending. He said approximately 1,400 Girl Scouts and leaders attended the encampment on the grounds; consideration is being given to hosting a Legislative reception in addition to the traditional Director’s Reception; Tom Cohenaur, Palmer City Public Works Director, offered to renovate Rebarchek buildings while living in them; concert ticket sales to date are over $140,000 and the Borough rescinded their Resolution supporting Fair enter into 25 year lease with Mat-Su Miner’s.
3. Co-Gen Update – Randy Kaer reported Alpine is preparing their project information to submit to the state regulatory commission and natural gas to run the plant has been contracted.
4. Margaret Adsit, Farmland Trust – Introduced Todd Pettit and Ben Vanderweele; board members of Farmland Trust and said they wanted to reopen discussion to protect the 40 acres of the Hamilton farm the Fair purchased. Discussion ensued regarding land being purchased as a buffer from industrial or residential development, and that sale of land could also be used to repurchase the Rebarchek gravel pit after it has been filled and reclaimed, and how and whether parcel would meet different Trusts criteria.
5. BOD Replacement Candidates
President Harkey passed out director candidate applications received to date.
Action Items
1. Director Erickson resignation: Director Erickson submitted his resignation effective June 10, 2011 due to acceptance of employment outside of Alaska and it was accepted. Director Erickson was thanked for his many contributions to the Fair and his continuing work with IAFE.
2. Approve Directors Responsibility Form: Kenley/Bush/MCU: Accept as draft and send to Board.
3. Approve Directors Code of Conduct Form: Consenstein/Kenley/MC, 1 Dissent: Suspend rules to discuss.
Tracy/Quill/MC/1 dissent: Consider Code of Conduct and send recommendations in over the next four weeks.
4. Elect New Treasurer: Bonnie/Tracy/MCU: Elect Director Kenley as Treasurer.
Member Comments
Arlene Cohen requested financial information on a service contract for personal use. President Harkey said the request would be taken under advisement.
President Harkey adjourned meeting at 9:38 pm.