LOS ANGELES SOUTHWEST COMMUNITY COLLEGE FOUNDATION
Tuesday, February 15, 2011
Los Angeles Southwest College
President’s Conference Room
6 P.M.
MINUTES OF 2.15.2011 MEETING
Members Present: Mr. Gene Hale, Dr. Sandra Cox, Mr. Samuel Bingham, Mr. Harold Dickens, Ms. Mary Nathan, Dr. Jack Daniels (Ex-officio), Jessica Martin (Staff)
I. Call to Order
- Meeting called to order 6:00pm
II. Approval of Minutes of December 8, 2010
- Minutes approved unanimously
III. Public Comment
- None
IV. Financial Report
- Dr. Daniels explained that the audit concluded that the Foundation needs to change its accounting system and recommended changing from using excel spreadsheets to Quick Books. He intends to start putting everything into Quick Books in the coming weeks.
- Funds generated from the ATM machine will no longer be directed to the Foundation because the District has a new ATM contract
- Mr. Hale asked what current balances were in accounts and Dr. Daniels said he would provide that information at next meeting.
- Need to create invoices for membership dues for Board members
V. Old Business
a. New Members
- Development Committee will provide report at next meeting
- Mr. Hale suggested that Board could develop a membership committee and a fundraising committee
- Goal to recruit more Board members in order to bring more revenue to Foundation; need to make it clear to potential new members that they will be expected to make a monetary commitment to the Foundation.
- Need to develop and/or print marketing materials for the Foundation
- Action Item: Board members to come back with names of potential new members; May send resumes to Ms. Nathan to be compiled for Board consideration.
b. Audit Report
- Recommendations from the audit included using Quick Books to keep records going forward and to be sure to file all documents in a timely manner.
- The audit cost $9,000 and covered years 2007-2010
- Going forward, an audit must be done every year
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c. Recommendation to move all Foundation funds to new financial institution
- Dr. Daniels mentioned difficulties in working with the Foundation’s bank during the audit process including lack of responsiveness, and difficulties in getting necessary documents in a timely manner.
- Recommended that the Foundation move accounts to a bank that is more accessible.
- Possible conflict with using Ms. Nathan’s bank, California Credit Union was addressed by Dr. Daniels; He stated that a conflict would only arise if an action comes up involving the bank and Foundation. Ms. Nathan would have to abstain from voting on the issue. Otherwise there is no conflict.
- Mr. Bingham moved that the Board expeditiously moves accounts to a different bank.
- The motion was seconded by Mr. Dickens.
- The motion was approved unanimously.
- Dr. Eaton and Ambassador Williams will be informed of the need to go and close current accounts.
- Mr. Bingham moved that the new accounts be established at California Credit Union.
- The motion was approved unanimously
- Two accounts will be opened at California Credit Union; one for operational funds and the other an endowment fund for scholarships.
- Mr. Bingham motioned that Dr. Eaton act as treasurer
- The motioned was approved unanimously
d. Protocol for cancelling meetings; Brown Act guidelines
- Dr. Daniels explained that because the committee is a Brown Act committee, the agenda must be posted at least 72 hours prior to meetings.
- Mr. Hale raised the question if the Foundation is indeed under the Brown Act; would like to get clarification of Brown Act guidelines.
- Dr. Daniels stated that according to LACCD legal counsel the committee is under Brown Act regulations.
VI. Update on previous meeting Action items
- Jessica Martin presented suggestions on voice recorders to be purchased for use at Board Meetings.
- Motion was made to authorize expenditure of up to $250 on recording device. Motion was approved unanimously
- Recorder will be purchased by next meeting.
VII. Announcements
- Dr. Cox made announcement about free tax preparation program for low income individuals; people making $44k and below are eligible for program. Members can contact Dr. Cox for more info if they know someone who can take advantage.
- Dr. Daniels made announcement inviting Board members to March 16th groundbreaking event for two new buildings on LASC campus.
- Ms. Nathan passed out information for scholarship offered by California Credit Union
- Dr. Cox announced that her office is offering tutoring for the SAT.
VIII. Adjournment
- Meeting adjourned at 7:05pm
IX. Next Meeting Dates: April 19th, June 21st, August 23rd, October 18th and December 20th.