HBC Board of Directors

Meeting Minutes

September 11, 2014 @ 6:30 pm

Pearl Park Recreation Center

414 E Diamond Lake Road, Minneapolis, MN 55419

Phone (612) 370-4906

The meeting was called to order at 6:30 by President Leon Webster. In attendance:  Larry Narveson, Bob Dean, Leon Webster, Greg Swanson, Mary Wiershem, and Pat Smith Welles.

The agenda was distributed

The agenda was approved

The minutes were distributed and amended as follows:

• o   Alan Wickman, David Gepner, and a board member will recruit new board members
• o   Collette and Wilbur will check the treasury books
• o   Ride Stats are currently up on the web site

                     Ride reporting issues have been resolved

                     Thank you to John Z & Carol for all their hard work

The minutes were approved                

Treasurers Report was distributed:

• o   TDA Expenses total                    $9,461.22
• o   Receipts                                       $13,069.47

                     Jerseys                                    $590.00 (still in a state of flux)

• o   Net Profit                                        $3,018.25

                     This is ½ of what we received last year and $2,000 less than what we budgeted

                     Profits down due to lack of rider participation

• o   Cost of Advertising - we will have to talk with John Escritt about the costs for next year
• o   Merchandise receipts should be kept separate from TDA totals, as should membership dues

                     53 Jerseys were sold & we made about $10.00 per jersey

                     Sign Printing is Expensive, but signs can be reused if we do the same routes

Financial Report

• o   Big Expense $2,881 (DÁmico’s)

Food costs are $200.00 above what we paid at the end of last year and we still have the annual meeting to cover.

• o   Income

Membership dues Cash                      $130.00

Membership dues PayPal                     307.06

HBC Jerseys                                                  50.00

TDA Jerseys Cash                                     630.00

TDA Jerseys PayPal                                 453.08

Vanguard Earnings                                    19.82

Total                                                       $1,589.96

• o   Expenses

TDA post ride lunch                           $2,881.00 (DÁmicos)

Storage Locker                                            61.00

Total                                                       $2,942.00

Net Change                                        -$1,352.04

• o   Assets as of 8/31/14:

                              TCF                                                         $6,592.35

                              Pay Pal                                                     1,233.67

                              Vanguard                                             19,353.39

Cash on Hand                                               36.00                                                                     

                     Total                                                    $27,215.41

                     Net Change                                        -$1,352.04

Budget – Shift from a Calendar year to a fiscal year – November to November

• o   The Audit Committee can look into this and we will put it on hold until after the annual meeting
• o   Income generated from Movie, Membership, and sales of TDA jerseys

Treasurer’s Report was approved      

Membership Report

• o   We currently have 203 members (error last month)
• o   We removed 5 members
• o   We added 8 new members 
• o   Total of 206 members.

Membership Report was approved

Operating Calendar was distributed and amended as follows:

• o   Deleted October’s “Conduct dry run of Annual Meeting and Membership Dinner”
• o   Moved the “Budget Adopted” from October to December
• o   The annual meeting will be added to the agenda for next month’s meeting
• o   Leon will not be at the board meeting in October
• o   The church for the annual meeting is paid for
• o   We will ask John Hardy about a projector for the meeting
• o   We will send an email to all members in lieu of a postcard as a reminder of the annual meeting

                     This change has to go before the members at the Annual Meeting

Operating Calendar was approved

Old Business

• o   Alan Wichman and David Gepner agreed to be on the nominating committee, plus a board member

                     Mary Wierchem will be the board member on the committee

• o   Bylaws say we need a contract when providing volunteers to other organizations, i.e. St. Paul Classic

                     Change to: Any organization using members should be approved by the board

New Business

• o   Annual Meeting

                     Leon will be the MC and facilitate the program

                     Alan and Rita are the Hospitality Committee, arranging for plates, etc.

                     Bob and Wilbur will take care of the food

• o   Donations - We will donate a total of $2,000 as follows:

                     3 Rivers Park District                           $500.00

                     MN Bike Alliance                                    500.00

                     Midtown Greenway Coalition            500.00

                     MN High School Cycling League       500.00  (Gary - Quality Bike Parts)

The next meeting will be held October 9^th at the Pearl Park Recreation Center.

Motion to adjourn was made at 8:25 pm.

Respectfully submitted,

Pat Smith Welles