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HomeMy WebLinkAboutMINUTES_05-03-2018 �,` �� „i Minutes of the May 3, 2018 Board Meeting 11 I11�`I 1 (Approved at the June 7,2018 Board Meeting.) The May meeting of the Oshkosh Public Museum Board was held Thursday, May 3, 2018, in the Lecture Room of the Oshkosh Public Museum. President Hoffman called the meeting to order at 4:00 pm. The roll was taken by Ms. Books. Present: Present: Excused: Randy Domer Becky Matzke,Vice President Stan Mack, Superintendent of Connie Drexler, Alternate Rick Rego Schools Carol Fenrich Jean Thierman, Secretary John Dinegan, Leadership Jim Hoffman, President Barb Herzog, School Board Oshkosh Gabriel Loiacono President With Mr. Mack excused,Mr. Hoffman appointed Ms. Drexler. Also in attendance: Director Brad Larson, Auxiliary President Barbara Shirtz, and Administrative Assistant Theresa Books recording the minutes. There were no citizen statements to the Board. Consent Agenda items included the following: A. Minutes of the April Board meeting B. May Bill List C. Receipt and Filing of 1St Quarter Reports from the Oshkosh Area Community Foundation Mr. Rego moved that the Consent Agenda be approved. Second by Ms. Fenrich. The vote went as follows: In Favor: In Favor: Against: Mr. Domer Mr. Loiacono None Ms. Drexler Ms. Matzke Ms. Fenrich Mr. Rego Ms. Herzog Ms. Thierman Mr. Hoffman The vote was unanimous in favor and the Consent Agenda items were passed. Minutes of the May 2018 Museum Board Meeting Oshkosh Public Museum■ 1331 Algoma Boulevard■Oshkosh,Wisconsin 54901 Page 1 of 4 Mr. Larson then presented the phasing of the upcoming Capital Improvement Projects. He reviewed each of the projects and noted that emerging as the number one priority, as mentioned in past memos, is the water situation in the basement. There are three basic steps to that project: assessment recommendations by an engineer,bid specification prepared,and then bidding and the work to fix the problems. Board discussion followed. Ms. Matzke moved that the Board approve the Capital Improvement Projects as presented. Ms. Thierman seconded the motion. The vote went as follows: In Favor: In Favor: Against: Mr. Domer Mr. Loiacono None Ms. Drexler Ms. Matzke Ms. Fenrich Mr. Rego Ms. Herzog Ms. Thierman Mr. Hoffman The vote was unanimous in favor, the Board approve the Capital Improvement Projects as presented. Mr. Hoffman requested that Mr. Larson present the monthly Director's Report. Mr.Larson began reporting that City Finance Director Trena Larson,City Attorney Lynn Lorenson, and Mr. Larson met with Mike Hochholzer of Associated Bank on April 23 to discuss the process of transitioning the Durow Trust investments to conform to State Statutes. Mr. Hochholzer was instructed to begin selling Durow Trust investments when the market is favorable, and to do so in three phases or stages. The target for completing this conversion is August 31. The Durow Trust investment policy,which also guides expenditures,is being revised and will come before the Board later this year. Mr.Larson explained that the impact of the reinvestment will be felt in two principle areas: staffing and exhibition projects. While the Durow bonds will be safe from market fluctuations, the Trust will not see much growth and so there will be no increase in value to compensate for annual inflation. As this was discussed, it seemed prudent to assume annual interest income of$60,000 for 2019,after fees. Low interest affects the Museum's ability to rely only on the Durow Trust to fully fund the Curator of Collections position.To provide a specific example, the position cost for 2018 is$73,500 (including benefits). The surplus of accumulated Durow Trust earnings can provide the balance needed to support the position going forward ($13,500 in this example),but that is a short-term solution.Long-term solutions for some Museum funds and trusts Minutes of the May 2018 Museum Board Meeting Oshkosh Public Museum■ 1331 Algoma Boulevard■Oshkosh,Wisconsin 54901 Page 2 of 4 were again discussed, however, no steps were taken and it seems likely that a Foundation will be several years away. Mr.Larson noted that with the Durow Trust changes,he is planning ahead for the 2019 budget and considering how to best utilize financial resources. Given the new investments, Mr. Larson s primary concern is staffing. Museum trusts and funds support two full-time positions (Curator of Collections and Assistant Curator), as well as the summer internship program. The Museum has a small staff for the size of the Museum and a very aggressive schedule, so it is essential that the positions are maintained. Regarding 2019,Mr. Larson reported staff efforts will be focused on research and artifact selection related to the new second floor exhibitions, with particular attention to narratives and materials required for the media elements. Incorporating what staff learned from People of the Waters, staff have to devote more time to media materials. Although the end result of media exhibition components is amazing and exceptionally popular with visitors, it is labor-intensive. In conclusion, Mr. Larson reported that the Richard Kitz bequest, which is currently being processed by Fidelity Investments, will come before the Board later this year. The value of the bequest is about $230,000. It is an undesignated bequest, so by policy 10% has to be allocated to the Endowment. However, the Museum may have to designate some of the bequest for staffing costs not funded through the tax levy. Some budget savings are anticipated in the 2019 budget due to the February retirement of Joan Lloyd. That concluded the Director's Report. President Hoffman did not have anything to report. No Board member statements were submitted. President Hoffman requested the World War One Commemoration Committee Report. Ms. Matzke began by reporting that the next meeting of the Committee will be Monday, May 141h She then turned over the report to Mr. Loiacono who reported that he has worked with the University of Wisconsin - Oshkosh, to host a World War One Symposium at the University, October 2 and 4. He is arranging speakers and events, including an event at the Museum the evening of Oct. 41h. In conclusion, Ms. Matzke reported that Mayor Cummings sent a letter to area churches asking them to ring their church bells Sunday, November 11, in recognition of the 1001h year anniversary of the end of World War One - Armistice (Veterans) Day. That concluded the committee report. Mr. Hoffman then requested that Ms. Shirtz present the Auxiliary Report. Minutes of the May 2018 Museum Board Meeting Oshkosh Public Museum■ 1331 Algoma Boulevard■Oshkosh,Wisconsin 54901 Page 3 of 4 Auxiliary President Barb Shirtz began by thanking those Board members who were able to support the Auxiliary at Culvers the evening of May 1. She was pleased to report that the Auxiliary raised $267.00. Ms. Shirtz noted the new Auxiliary Board members are Mary Bayer, Rietta Hendrickson, and Ruth Davis. In conclusion, Ms. Shirtz thanked Museum Board and staff, stating she enjoyed coming to the meetings and learning all that goes on at the Museum. Her term as Auxiliary President is complete and she will miss participating in this way. That concluded the Auxiliary Report. Next on the agenda was the election of Board Officers for 2018-2019. Mr. Larson noted that all three officers have served one term, and therefore are eligible to serve another term. All three officers said that they would be happy to serve another term: Mr. Jim Hoffman, President; Ms. Becky Matzke,Vice President;Ms.Jean Thierman Secretary. Ms. Herzog moved that the current three officers each serve a 2nd term in their respective roles. Ms. Fenrich seconded the motion. The vote went as follows: In Favor: In Favor: Against: Mr. Domer Mr. Loiacono None Ms. Drexler Ms. Matzke Ms. Fenrich Mr. Rego Ms. Herzog Ms. Thierman Mr. Hoffman The vote was unanimous in favor, the Board approved that each officer serve for the 2018-2019 term.Mr.Jim Hoffman,President;Ms.Becky Matzke,Vice President;Ms.Jean Thierman Secretary. With no other agenda items, Mr. Hoffman asked for a motion to adjourn. Mr. Domer so moved and Mr. Rego seconded the motion. The vote was unanimous in favor and the motion was passed. The meeting adjourned at 4:47 p.m. Minutes of the May 2018 Museum Board Meeting Oshkosh Public Museum■ 1331 Algoma Boulevard■Oshkosh,Wisconsin 54901 Page 4 of 4