SPR Board of Director’s Meeting

December 19, 2012

In Attendance: Cary Boyce, Christie Anderson, Paul Paroff, Jeff Fountain, Mary Alberts, Helle Jorgenson, Dave Walker, Tom Parker, Shelley Sharp, Patrick Klausen, Kathy Sackett, Jerry Olson, Linda Stowe, Doug Nadvornick, Bill Simer, Courtney Martin

Meeting called to order at 5:35.

1. Minutes from November meeting approved.

2. Audit
Bill and Courtney presented the audit. Over all, the audit went very well. The Board and Staff were very accessible. Courtney presented an overview:

-No big changes in the statement of financial position until the Capital Campaign receivables lines, which are divided into two parts. The Capital Campaign receivables show up again under other assets. The net of the discounts looks at pledges two years out. Liabilities haven’t changed, nor have net assets.

-On the Statement of Activities, grants have decreased significantly, as have contributions and other revenue. In-Kind increased, mainly in legal fees. Other income includes NPAN reimbursement and $16K from insurance reimbursement for stolen equipment. Net assets released from restrictions include Capital Campaign pledges collectable within one year. Under expenses, program fees are down due to a change in the way NPR gathers its fee and management is up due to audit fees, new software, etc. There was a net decrease of unrestricted gifts and a change in restricted gifts due to a stock investment in the trust investment fund. Net assets released included $25K for a matching grant that was returned to the donor when the grant was not received.

-The detailing of program expenses included a few changes: professional services increased, management increased, network programming was down (again due to NPR’s FY change), and depreciation increased.

-Footnotes:
Note 1 describes accounting policies. Note 2 details Capital Campaign policies. Note 3 outlines the property and equipment increase. Note 6 tells how we use fair value; level one shows the value of most assets. Note 7 outlines fundraising events’ cost and their net. Note 9, Commitments & Contingencies, includes future minimum lease payments.

-Assessment 14 letter: Auditors are required to disclose this. It also explains management responsibilities. The accounting estimate includes the uncollectable pledges allowance, allocation of functional expenses, and depreciable lives of property and equipment. There were no difficulties encountered during the audit or disagreements with management. One adjustment made for program fees paid in the wrong year and depreciation expense.

-Thank you to Bill, Courtney, and McDirmid, Mikkelson, and Secrest as well as Linda Stowe and the business office for their help in the audit process.

3. GM Update
The staff retreat was very good. We compiled strengths, weaknesses, opportunities, and threats, which allowed us to create strategies to go forward. Cary will send the BOD notes from the first session. The second session established tactics to move forward in a strategic fashion. Our goals are sustainability, balance, growth, and a better product. Every three or so months we will reexamine our progress and make adjustments. This will help to create a strategic plan going forward, which Cary will submit to the BOD. Thank you to the staff for their help and support!

4. Grants
-Applause to Christie, Kat, and Jocelyn on their work which led to NEH awarding SPR the matching grant. We are in contact with Andrea Anderson and have established a small task force and a plan to move forward. We plan to meet with lots of donors in the near future. This is the only NEH grant of this style to public radio.

-We (and the other projects with us) have fallen off of the state budget. Our goal is to get it onto the budget of the new governor. Tom and Cary met with the 3^rd District legislators and Pat Sullivan. We may know the outcome as early as the end of April. We have many friends at the state level, and when Cary met Jay Inslee, the first words were “I love you guys.” Elson Floyd loves us and is on Inslee’s transition team. We will be fighting (with the other projects) to get back on the budget together, and Tom is working with NPR’s lobbyist.

5. Other
-Tom thanks Cary for his weekly GM updates. Staff will begin receiving these as well.

-Community Advisory Committee Breakfast
In addition to the CAC, the Steering Committee, and Communications Committee were invited. This is a good time to reengage our friends. There was not as large a turnout as we had hoped for. Dick and Kat laid great groundwork for the campaign, despite the economic turn. We asked the CAC for leads, but ask also that the campaign remain quiet for the time being.

-Tom and Cary met with Doug Siddoway, Christ Batten, and (Bob?) Hammacker about reconfiguring the lease agreement. Batten was very clear that he wants SPR as an anchor to the block.

-Thank you to staff for enduring and persevering over the past year. Kat will be taking a dream job at the Symphony, effective at the end of December.

-Snow removal time is upon us again. Last year we had an agreement with the House of Charity folks and we are in contact to see if we can get that to happen again.

Meeting adjourned at 6:40pm.