Clear Lake Area Community Center Board Meeting
June 29, 2023
Present: Tim Wyss, Virginia Cahow, Muriel Nelson, Sue Anderson, Doug Cahow, Bert Petersen, Wendy Schoggins.
Special session – Investment Options:
Virginia Cahow introduced Eric Morrissey, Financial Advisor from Edward Jones. Eric reviewed the pros and cons of various investment vehicles: money markets, mutual funds, certificates of deposit, stock and bonds. He stressed the importance of maintaining a buffer for catastrophic events and using the excess for investing.
The current rate of return at Edward Jones for both CDs and Money Marketa accounts is approximately 5% with CDs slightly higher. Money Market investments at Edward Jones are insured and upon request, the money can be transferred to the CLACC bank account in 3 days or less. For these and other reasons, a Money Market account seemed a more appropriate investment.
Call to Order: The regular board meeting was called to order by President Tim Wyss at 10:25.
Pledge of Allegiance: Led by Tim
Treasurer and Financial Report / Unfinished Business:
Muriel made a motion to initiate a Money Market account at Edward Jones and to analyze CLACC’s current investment with Invesco. Doug seconded the motion; motion carried.
Tim will provide Eric the names of two board members, i.e., himself (President) and Virginia (Treasurer) with authority to request changes on the Money Market account.
Work is ongoing to close out the Westconsin account by redirecting withdrawals and deposits to the Pillar account.
Secretary’s Report: The May 24 meeting minutes were accepted as submitted.
Office Management Report – Wendy Schoggins
Wendy emailed drafts to update the ‘Short Term Rental Agreement’ and ‘Rental Check List’. Members are asked to return comments to her.
She developed a spread sheet for tracking thrift shop sales and another for Sunshine Fitness rental payment.
Two insurance companies have expressed interest in submitting bids for CLACC building insurance.
Wendy continues to work on options for signage.
Standing Committee Reports
Building and Maintenance
Wendy is finalizing selection for mopboard purchase and installation for the second floor hallway.
The board accepted Doug’s offer to paint the exterior doors. It was agreed to keep them the same color.
Gym Lobby status and need for upgrades.
Tim received a letter of concern from a tenant regarding the gym lobby. Among her concerns are the stained carpet, the restrooms need attention and outside doors don’t close tightly.
It was agreed that Wendy should contact one of the interior designers, used for other projects, to determine what could be done to improve the area and the associated cost.
Program Development – ARDC Meal Program at CLACC - Muriel
Dan Pearson agreed to discuss this idea with the local ministerial group.
Muriel will contact Joan Lillie for ideas since she has previous experience with ADRC meal programs.
Sit-down meals are supported by the county program from April through October.
Grants – Muriel
Despite significant effort to contact & obtain bids for projects, the contractors are currently too busy to work with us. Hence, grant applications will proceed with a 2024 project execution timeframe.
Tim recently attended the West Central Wisconsin Regional Planning Commission meeting and is sharing information for grant options.
New Business:
A tenant asked if rental rate increases are under consideration. She indicated that she needs to know soon for developing her business budget.
Recently, the food pantry was unable to access their area due to a lock malfunction. Temporary access was made through the gym lobby and another tenant’s space until the lockset was changed. The situation is a reminder that we will seek permission prior to entering a tenant’s suite except in the case of an emergency.
Adjournment: Motion was made by Doug and seconded by Sue to adjourn; motion carried at 11:00 am.
Next CLACC Board Meeting – Thursday, July 27, at 9:30 am
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