August 11, 2011
Present: Barry Barak, Bruce Bonar, Michael Piontkowski, Claudia Ragar, Jason Smith, Cliff Sprinkle, Jen Taylor, Marc Foster Minutes by: Bruce Bonar
1. Following a presentation of the staff report by the Executive Director, the meeting was called to order at 6:17 PM.
2. Minutes of the July BOD meeting were approved.
3. There was a discussion of the response from Alpine Bank on the loan application.
- A motion was introduced: The Board will amend the Executive Limitations Policies to add a new section 4c), stating [KAFM’s ED shall not] “Withdraw from the Alpine Bank Line of Credit without prior notification to the Board of Directors of the amount, purpose, and balance of the LOC after the withdrawal.” Subsequent sections will be renumbered accordingly.
- The motion was passed 7-0.
4. There was a discussion of the Line of Credit.
- A motion was introduced: “The Board of Directors approves renewal of the Alpine Bank Line of Credit.”
- The motion passed 7-0.
5. There was a discussion of authorization.
- A motion was introduced: “The Board authorizes the Executive Director to make withdrawals from the Alpine Bank Line of Credit.”
- The motion passed 7-0.
6. There was a discussion of repayment of the current Alpine Bank Line of Credit.
- A motion was introduced: “The Board of Directors authorizes the Executive Director to use existing operating funds, including CPB monies, to repay the existing Alpine Bank Line of Credit balance.”
- The motion passed 7-0.
- A motion was introduced: Revise the Executive Limitations Policies section 4j) to read:
[KAFM’s ED shall not] “Distribute Corporation for Public Broadcasting monies without authorization by the Board of Directors.”
- The motion passed 7-0.
- The Board observes that the recent action by the ED to use CPB monies for operating expenses was in violation of Executive Limitations Policies 4j).
7. There was a discussion of the Arguello loan situation.
- The Board directs the ED to approach the Arguellos with the proposal of a partial payment, to be applied to the current outstanding balance of the loan.
8. The meeting was adjourned at 8:54 PM.
