KLTV
BOARD MEETING MINUTES
June 16, 2008

President Mark McCrady called the meeting to order at 5:30 pm., in the absence of Secretary Arleen Hubble Mark called the roll.

Board Members Present:  Post. 1 - George Ford, Post. 2 - Mike Kayser,  Post. 3 - Brian Magnuson, Post 4 – Joe Daggy,  Post. 5 - Mark McCrady,   Post. 8 - Hal Phillips.  Absent were Post 6 - Arleen Hubble, and Post. 7- Don MacDonald.

Members present: Allan Rudberg, Ben Purvis, Frank Huckstep,  Doug Parr, Dee Ebbert, Roy Royston, LeRoy Gerdlund, and Bill Cox. Staff includes: Marilyn Freerks, Linda Manning, Barry Verrill and Gary Hill. Guests included: Ed Bressler and Judy Jones.

It was pointed out that the minutes of May 19th, 2008  have misspelled the word acquired on page 1.   Mike Kayser made the motion to approve the minutes as corrected. Hal Phillips seconded the motion. The motion was passed.

Brian Magnuson presented the Treasurer’s Report. Brian stated that everyone should have received a statement of financial position, and mentioned that everything looked good. Brian asked if there were any questions about the May financials. None were noted.

Gary Hill stated the only outstanding check for the first quarter of 2008 is due from from the City of Longview. Barry added that Gary contacted them, and we should receive the check any time now.  Mark said,  “Let it be noted that this is not Judy’s job.”

Barry commented on the Longview Capital (for equipment) account, and stated they received $101,090.00.  Barry, Mark and Brian discussed how to handle the check since we received it a number of months early. Barry and Brian went to the Riverview Bank and opened three CD’s. One is in the amount of $100,000.00, two in the amounts of $50,000. There is also a Money Market account in the amount of $20,000, which totals the four accounts at $222,000. Barry mentioned that some people were concerned on how the money would be spent and noted he needed board approval to spend over $3,000.

Brian wanted clarification about the CD’s. Barry said the first CD is for 7 months with 6 months remaining. The other two CD’s are for 3 months with 2 months remaining. Barry stated our goal is to let them sit for the 3 and 7 month periods. Brian said our goal is to track that $101,000 and provide necessary documentation that money goes for equipment as required by the franchise agreement. Barry stated it’s a Capital Equipment account so we couldn’t spend it on salary or buy a vehicle. We will spend it on cameras or whatever we need for equipment in the building. It’s a capital account. Brian agreed.

Cowlitz Bank Mortgage Barry stated we moved our mortgage from Terry Balkin to Cowlitz Bank two months ago. We made our first mortgage payment last month. We increased the mortgage by $300 a month and added 2 ½ years to the mortgage. Payments are automatically deducted from our checking account on the 10th of each month.

Another notable project for this month was the building improvement (siding). Brian stipulated the idea was to save the building from collapsing from dry rot as well as improve the appearance.

Barry said, we are already seeing reduction in heating and cooling costs. He also stated we would have significant water damage to the building if we didn’t make the repairs.

Brian and Hal believe in addition to the integrity of the structure, there were safety issues at stake. The siding contractor found the sleepers or one-bys attached to the Vandercook side of the building in particular were barely in place. He couldn’t figure out how or why that whole wall didn’t fall off on the sidewalk because the attachments had come lose. He had to completely re-attach all of that.

Budget Barry said we approved a baseline budget in January. Barry originally distributed the hard copies in the Board Retreat packets. Gary said it was worked on in December and January. Barry stated the ’08 budget excludes the building fund and Longview’s $101,090 Grant. Doug interjected line 4091 appears to be an add on. Brian said we had to increase the monthly for the building because of the mortgage. Barry said we bought about $11,000 worth of equipment for the NWAACC. The equipment was intercom, headsets, cameras, and five microphones for the studio.

Brian suggested Gary produce a spreadsheet on a monthly basis that shows our budget picture comparable to this time last year. Barry said the agreement with the cities states we need to show documentation for the capital expenses. Gary could easily document expenses on line items 1500 and 1505.

Gary received $13,167 in PEG grants from Longview and a $26,522 PEG grant from Kelso that are Capital Grants. If needed he could quickly provide a printout of those two line items and reveal what has been spend thus far and on what.

Linda asked where the $18,000 left over from 2007 is. Gary stated the excess should be closer to  $8,000 - $11,000 after the final install at Kelso City Council early this year. Brian wants to know if that money was pegged capital money or interest.

Mark recognized Doug to speak. Doug acknowledged his appreciation to Barry and Brian for all their work on this but there is a lot of numbers here and he wants to reserve his questions/comments for a later date after he reviews the budget. Doug needed clarification with the ’07 and ’08 budget and accruals. Mark stated the ‘08 are year-to-date so far.

Barry stated the credit card machine swiper is active and installed at the front desk. He also mentioned that Deanna and Aloma from Chase and Spurgeon set Gary’s computer up so he could look at KLTV’s financial accounting through a Portal. Aloma asked for authority to view Riverview Bank CD statements on line, to provide up to date information at these monthly board meetings.
Barry will attempt to provide the statements to Aloma a week before the board meetings. Gary mentioned the statements don’t arrive at the same time nor in a timely enough fashion for her reports.  Barry said this is because the CD’s are different amounts and come from different places.

Brian suggested we provide a quarterly report to the city documenting the balance and how it was spent. It would encourage future support.

Brian announced the minutes of past meetings have not been consistently posted on the website. As of last week they have been updated.
Barry will assure the treasurer’s reports and minutes will be posted on the website consistently in the future.

There was discussion to table approving the revised budget until next month, thus giving more time to review the numbers.

Building Barry took the floor stating 70% of the construction is complete. Friday, the building will be pressure washed. The building will be painted Saturday and Sunday if weather allows. The construction is on time and on budget. There was a slight snafu with Interstate. Doug suggested some style be added to the entrance area. Barry points out the building refinance were $130,000 less than the quote two years ago. That quote was $220,000 while this year’s quote is going to be roughly $75,000. Barry has not signed off for any additional costs. The siding wasn’t complete when it rained last Monday so some water came in the lunchroom. The very next day the contractors installed some flashing and large gutters.

Barry informed the board that the renters upstairs want a meeting to discuss how the building improvements have affected their business. He will meet with them tomorrow (June 17th, 2008).

Staff Reports   Marilyn said we did as well if not better than last year at NWAACC. Gary says we were able to fill 115 orders while on the premises. We have 142 paid discs with 12 orders waiting for payment. Marilyn said we have 8 of 9 graduation tapings complete. Gary and Marilyn conclude we have 180 orders exceeding last year’s orders, which is a minimum of $3,600. Marilyn said having the tent and sign outside the van was very helpful in receiving the orders. Marilyn is very appreciative how well the streaming helped numerous people view our community events and purchase DVDs. We have 180 volunteer hours, people sitting for hours waiting for their game to start. Marilyn requested a bigger budget for next year’s event. Marilyn suggested an internship for teens to learn this industry.

Brian started the discussion about Joan Bressler, owner of Lite Weights for Women, who believes she has sustained a 40% decrease in business during the construction. Brian is suggesting we give renters a rental deduction comparable to their loss. The board asked Ed Bressler, Joan’s husband, to provide a financial report at the next monthly meeting. Brian is asking the board to decide on this at the next meeting. George will provide a customary formula for lessees at the next meeting. It was pointed out the lessees have different approaches with the public and should be compensated accordingly.

Barry said we changed insurance companies from Longview to Alliance at the beginning of this year. It was for 7 months because their fiscal year begins in October. We are saving over $3,000. Barry wants the board to sign off on it. The insurance covers the building, equipment, and board of directors, vehicles, and broadcasting. Brian stated it is much better coverage than before for less money. Barry doesn’t need the board to sign off on it, only a signature.

GOOD OF THE ORDER:  Doug stated he couldn’t believe the three-page meeting notes for April was covered in twenty-five minutes.

Mark asked for any other items before they adjourn to executive session. Brian asked Judy if the council and city manager are happy with what they are receiving now and the new equipment. Judy said she hadn’t heard anything. She did add the on-air display in the council chambers in very nice and comfortable.

Mark said we are adjourning into the executive session. No board action will be taken after the executive session and he thanked everyone for coming.

The meeting was ADJOURNED AT 6:25 PM  

Minutes Approved   ____/____/____ By KLTV Board ________________________________
                                          Date                                                       Secretary’s Signature