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Minutes of the Archives Partnership Trust Board Meeting
3:00 pm, March 24, 2011
The New York State Archives, Cultural Education Center, 11th Floor Seminar Room, Albany, NY

Board Members Present    

 

John Hanna, Jr., Chair; Barbara A. Brinkley, Secretary; and Gary Smith.

By Telephone

George R. Hearst III, Vice Chair; Kathy Ahearn, Nedda Allbray, Tom Birdsey, Kimberly Gilmore, Bronwyn Hannon, Harold Holzer, Harold Iselin, Stephen Pagano, Celine Racine Paquette, Lauren Rachlin, and Rosemary Vietor.

Staff Present

Christine Ward, Chief Executive Officer; Robert Bullock, President;  Jill Rydberg, Assistant Treasurer and Administrative Officer/Director of Prospect Research; and Grazia Yaeger, Manager, Membership and Special Initiatives.

Board Members Excused

John J. McEneny, Avi Schick, and Jay Summerson.

Call to Order

Mr. Hanna called the meeting to order at 3:05pm.  He welcomed Board members and staff to the meeting, noting the presence of a quorum.

Administrative Items (Item 2)

Proposed Resolution for Approval of the Minutes of the February 3, 2011, Board Meeting (Item 2.1)

The next item was a resolution to approve the minutes of the February 3, 2011, Board meeting.  The motion to approve the minutes was made by Mr. Birdsey, seconded by Mr. Smith, and unanimously passed.

Resolved, That the minutes of the February 3, 2011, Board meeting are hereby approved.

Financial Reports (Item 2.2)

Mr. Hanna explained to the Board that the Endowment Investment Account report will now break down the net equity value of the Endowment to show the operations and project funds that are temporarily deposited there until needed. This will give the Board a clear picture of the actual value of the Endowment.  It will also avoid surprise at a drop in value when Operations and Project money is withdrawn.

Ms. Rydberg reported that, as of February 28, 2011, the Endowment Investment Account’s net equity value was $3,349,768, with $30,607 representing Operations and Projects funds, and leaving the actual Endowment value as $3,319,161.  The account for processing credit card transactions (established to keep such transactions apart from the main endowment account for security purposes) had a balance of $3,982.  The Operations Account cash balance was $197,523 and the Projects Account cash balance, after income of $527,056 and expenses of $350,656 was $176,397.  It was noted that the Financial Reports were presented for the Board’s information and no action is required.

Ms. Brinkley asked Ms. Rydberg if there are multiple projects under the Public Program-Statewide budget line item. Ms. Rydberg said yes and explained that the line included projects such as Archives Month poster, the Student Research Award Luncheon, Chautauqua lecture, Empire State Archives and History Award program, Cooper Union, and Power of Words among others.  Ms. Brinkley further asked what would happen if the project does not transpire within a fiscal year. Is the money carried to the next fiscal year? Ms. Ward responded affirmatively and additionally assured the Board that the Trust will not do a project if the money is not raised.

Development Report (Item 3)

Mr. Bullock presented his report which is attached as Appendix I. Mr. Rachlin asked if the Trust was sponsoring any projects and/or programs for the War of 1812.  Mr. Bullock reported that the Trust has an aggressive program of work, including two major lectures by Pulitzer Prize-winning author Alan Taylor, speaking about his critically acclaimed new book entitled the “Civil War of 1812: American Citizens, British Subjects, Irish Rebels & Indian Allies.”  One lecture will be held at SUNY Plattsburgh (date to be determined) and the other at the June 2012 Conference on New York State History at Niagara University.  In addition, Mr. Taylor is slated to receive the 2012 Empire State History Book Award from the Trust.  The Trust is also working with the Office of the State Historian to coordinate War of 1812 related activities in western and central New York, as well as on Lake Champlain.  Through the efforts of the Trust, WCNY Television (PBS-Syracuse) is proposing the development of “War of 1812 Minutes” for broadcast use by all NYS PBS stations.

Work Plan and Budget (Item 4)

Proposed Resolution for Approval of the Fiscal Year 2011-12 Work Plan and Budget (Items 4.1.a, 4.1.b and 4.1.c)

Ms. Ward noted the proposed FY2011-12 budget presented is the same budget discussed at the February 3, 2011, meeting with some minor changes. She added that the corresponding Work Plan had not changed from what was presented at the February 3, 2011, meeting. The budget represents six years (as required by the Office of the State Comptroller and Public Authorities Budget Office): the actual budget from the most recently completed fiscal year, both the current fiscal year’s approved and revised forecast budget, the budget proposed for the upcoming fiscal year, and projections for the subsequent 3 fiscal years. Ms. Ward said proposed projects will be undertaken once the needed funds are obtained.  This will ensure that the Trust always maintains a balanced budget.

Ms. Ward reported:

  • The estimated starting balance for the Operations FY2011-12 proposed budget is $187,989. The Operations funds are under the control of the Division of Budget (DOB) requiring the Trust to get approvals on expenditures in excess of $500. Therefore, some expenditures planned for FY2010-11 for which approval was not received during the last year (such as the purchase of the Financial Edge accounting software) have been carried over to the FY2011-12 budget.
  • Also, the proposed budget presented at the last meeting showed a revenue line representing  20% of Mr. Bullock’s salary to be reimbursed by the Office of Cultural Education (OCE). However, a different and improved process will allow that part of his salary to be directly billed to OCE resulting in a reduction to the payroll expense line item.  The Trust’s proposed budget for 2011/12 now shows Mr. Bullock’s salary at 80% and the other 20% is being picked up directly by the Office of Cultural Education.
  • The Projects budget proposes only taking a 4.5% draw down from the Endowment. Even though the Board has approved using up to 5.0%, the Trust is committed to preserving the endowment by taking only 4.5% or less. 
  • The $20,000 in the Sponsorship of Conferences income line represents the Executive Records Symposium (held last fiscal year in May 2010) member item which was finally approved and will be received in FY2011- 12,

Ms. Hannon asked why there is no income for FY2012-13 under Sponsorship of Conferences, but there is $20,000 for this year?  Ms. Rydberg explained that the $20,000 was a one-time member item for the Executive Records Symposium. Mr. Bullock added that there are instances where money is requested, but then Archives staff is unable to start a project. He provided an example from the last fiscal year, the Save America’s Treasure (SAT) budget line item.  As the Archives did not receive an SAT grant, no Trust match was needed.  Ms. Ward also noted that, in some situations, the Trust might have to return to donors to ask them to redirect their donation.  (e.g. the World Trade Center Project).

Ms. Brinkley asked whether there was going to be a Cooper Union event this year. Mr. Bullock said yes and further explained details of a possible event involving the United Nations.  Details are still under discussion and will be shared with the Board once finalized

The motion to approve the FY2011-12 Work Plan and Budget as presented was made by Ms. Brinkley, seconded by Mr. Rachlin, and unanimously passed.

Resolved, That the Work Plan and Budget for Fiscal Year 2011-12, as presented and discussed at the March 24, 2011, Board meeting, are hereby approved.

Board Committees (Item 5)

Audit Committee

There was no Audit Committee report. 

Executive Committee

There was no Executive Committee report. 

Investment Committee

There was no Investment Committee report. 

Nominating Committee Discussion

Dr. Allbray reported that the Nominating committee, consisting of herself, Ms. Hannon and Mr. Smith, presents the following slate of candidates for Trust Board officers: John Hanna, Jr. for Chair; George R. Hearst III for Vice-Chair; Celine Racine-Paquette for Secretary; and Barbara A. Brinkley for Treasurer.  Ballots will be sent to Board members via e-mail, with results announced at the annual meeting in May.

Executive Officer’s Report (Item 6)

Ms. Ward presented her report which is attached as Appendix II.

Conclusion

A motion to adjourn the meeting was made by Mr. Smith, seconded by Mr. Rachlin, and unanimously passed.  Mr. Hanna adjourned the meeting at 4:15 pm and thanked all for their participation.

Respectfully submitted,

Grazia Yaeger
Assistant Secretary
April 25, 2011