Jensen-Olson Arboretum Advisory Board (Sunset Date 5/31/2023)

1 of 7 JENSEN-0 LSO N ARBORETUM JUNEAU. ALASKA A Cll Y & BOROUGH OF JUNEAU l'ARK.5 & RECREATION FACILITY AGENDA JENSEN-OLSON ARBORETUM ADVISORY BOARD Mendenhall Valley Library Wednesday, August 14, 2019 at 5:15 P.M. I. Call to Order II. Approval of Agenda III. Public Participation on Non-Agenda Items IV. Approval of Minutes V. New Business VI. Unfinished Business A. Endowment Subcommittee report B. Reconsider retaining portion of rental receipts for emergency maintenance VII. Committee, Liaison, and/or Staff Reports A. Chair Report – N. McConahey B. Manager Report – M. Jensen C. Friends of JOA Report – P. Harris D. Other Business VIII. Adjournment Next JOAB Meeting: Wednesday, November 13, 2019 at 5:15 Mendenhall Library  MINUTES JENSEN-OLSON ARBORETUM ADVISORY BOARD Mendenhall Library, Conference Room │Wednesday, August 14, 2019 5:15 P.M. I. Call to Order at 5:20 pm by Chair, Nell McConahey Present: Kristin Bartlett, Rose Evans, Kim Garnero, Patricia Harris, Nell McConahey, Deborah Rudis Absent: Ed Buyarski, Peter Froehlich Staff Present: Merrill Jensen, Arboretum Manager; Lauren Verrelli, P&R Staff Liaison II. Agenda Changes – None. III. Public Participation on Non-Agenda Items – None. IV. Approval of Minutes – None. V. New Business – None. VI. Unfinished Business – A. Endowment Subcommittee Report: K. Garnero: The overall endowment is made up of two pieces – the long term portfolio invested with Vanguard and the available fund balance which is the rest of a special revenue fund from house rental and events/fundraisers minus CIPs ($60,233). To move funds out of Vanguard requires Assembly action while to move funds out of the available fund balance is easier for the department. We now have a better understanding of it all. The next steps are to meet with the new Finance Director and pursue a more aggressive investment into the endowment. B. Reconsideration of retaining a portion of rental for emergency maintenance: K. Garnero: The $60,233 mentioned above that is sitting in the special revenue fund, we discussed back in January 2018 to divert 25% out for emergencies before it is transferred to Vanguard. We talked about it but the motion wasn’t complete. D. Rudis: It’s important to have an emergency fund balance. P. Harris: I move that 25% of the special revenue fund balance be saved for emergency repairs and not transferred into the Vanguard; 75% of the special revenue fund balance will be transferred into the Vanguard annually. Motion passes unanimously. VII. Committee Liaison and Staff Reports A. Chair Report: None B. Manager’s Report: Included in packet. C. Friends of JOA – P. Harris: Pick.Click.Give has received $1,300 in donations, up from last year. They will be holding their fall fundraiser at Amalga Distillery on September 18 where they will have a special drink that all proceeds will go to the Arboretum. The Lovely Loo has been delayed; currently working on the Rasmuson grant. D. Other business— None. Adjournment – 6:05p.m. Having no further business before the Board. Respectfully submitted by Lauren Verrelli, Recreation & Public Services Manager, 8/20/19. JOAAB Minutes 8.14.19