STAFF MEMBERS PRESENT: Jill Hall GUESTS: Betty Ball, Lois Brown, John Austin and Cindy Caswell Motion to approve the minutes from May 16, 2006 was made by Betty H. Louise G. seconded the motion. Motion carried. SPECIAL GUEST: John Austin from the Financial Network and Cindy Caswell from Suburban Bank introduced themselves. John said that he had been asked to take over RSI’s financial portfolio since Steve Chappell has left the company. John indicated he usually only takes clients with $250,000 or more to invest, but would make an exception because we are an existing client with the Financial Network. He cannot honor the fee rates set by Steve Chappell. He indicated RSI could go with his rates (approximately 1.85% annually) or select to work with Cindy at Suburban. The difference with the two is that John has a fiduciary responsibility and he will review the account quarterly and send reports on its progress. Cindy does not have the fiduciary responsibility to conduct quarterly reviews. Cindy receives a commission for transactions made and she will send us the monthly bank statements of the funds progress. John is a fee for service agent but will send quarterly financial updates. The Board decided to meet on Thursday June 22, 2006 at 2:45 to discuss and decide how their investments should be handled. TREASURER'S REPORT: A report for the month of May was presented. The Spring Bazaar netted $3,206.69. A revised April report was also distributed. Copies will be forwarded to the city's Mayor and Council and to all board members. All members present voted to accept the treasurer’s report.
STANDING COMMITTEES: A. Budget: The 2006-2007 draft budget was reviewed. Jill asked that funds be added to pay for the 25th Anniversary celebrations. B. Ways & Means: Betty Briscoe stated that we need to find replacement for managing the kitchen and raffle tickets for the Holiday Bazaar. She would like the help of the Board. She also sent thank you letters to all the people who donated baskets for the Spring Bazaar. C. Bingo: We are still looking for a new Bingo Manager to supervise the game while Ron is off after his knee surgery. D. Correspondence/Memorial: Thank you to Louise Gregory for doing such a great job with the Memorial Books during her tenure on the RSI Board. Betty Ball has agreed to take over this responsibility. E. Gift Shop: In the Month of April the Gift Shop made $1,525.61. The consignors were paid $390.84. Gift Shop netted $1,063.36. F. Thrift Shop: The Thrift Shop netted $770.44. G. Publicity: No Report. H. Senior Citizens Commission: No report. I. Hispanic Services Report: No Report. J. Asian Services Report: No Report.
NEW BUSINESS: New Board pictures will be taken at the next meeting on July 18. There needs to an active recruitment for a person to manage and instruct people to use the Wood Shop. It is a well-equipped shop but needs a volunteer to be there at specific times. It has been advertised in the newsletter and Karen is offering woodworking programs this Fall. Board members are encouraged to spread the word. Ron announced that he is having knee replacement in September and George will be acting president for September and October. Ron on behalf of the members bid a fond farewell and a special thank-you to Louise Gregory for all her dedication to the Board and the Center. Louise was presented with a Lifetime Membership at the Volunteer Appreciation Party in May.
STAFF REPORT: The FY07 City of Rockville budget includes the following Capital Improvement Projects: - More parking spaces to the added to the Center
- Exercise floor bubbles to be repaired.
As of July 1, 2006 Karina has been promoted to full-time. The center will be closed on July 4th. RSI needs to send Mayor and Council a list of its FY06 accomplishments and FY07 goals – a special meeting was set to determine the goals. At 3:30 on June 22 there will be a meeting to plan the Center's 25th Anniversary events. All Board members are encouraged to attend.
The Meeting was adjourned at 3:45. The next regular board meeting will be held on July 18.
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