Meeting Minutes October 2023

SHS Board Meeting

Tuesday October 17, 2023

6:30 p.m. at the Museum

DRAFT MINUTES (Not yet approved by Board)

Agenda

  1.   Secretary’s Report   ( Crane  )
  2.   Treasurer’s Report/2024 budget.  ( Kane-Stebbins )
  3. BAC (Crane)
  4.   Committee Update: Calcutta (MacDonald)

5.  Memorial donations, Brouilette, LaPlant

  1. Newsletter, annual appeal
  2. Media/Tech (Smith)
  3. Use of building
  4. Collections (McFeeters)

10   Finance (Crane)

  1.   Other

 

 

President Garrow convened the meeting at 6:35 PM.  V. president D Crane,  Mr McFeeters, Mr Crane (Secretary), Ms Kane-Stebbins (treasurer), Mr Derry attending. Mr Smith, Ms MacDonald, Ms Derry, Mr Norris absent.

Mr Crane presented minutes of the September meeting, which were circulated earlier electronically. Mr Garrow moved (Ms Crane 2nd) to accept. With no additions or corrections the minutes were accepted as presented.

Ms Kane-Stebbins presented the treasurer’s report, noting a balance of $7091.91 in the TD checking account, and $27,639.93 in savings (qv). Ms Crane moved (Mr Derry 2nd) to accept, and the motion was approved unanimously. The treasurer presented a proposed 2024 budget (qv), noting that the finance committee met to draft the document with input from committee chairs. Placeholders were inserted for Technology and Programs pending further work by those committees. Mr Crane moved (Mr Derry 2nd) to accept the proposed 2024 budget, and the motion passed without objection.

Mr Crane reported on the  state of the building: noting that the siding work continues, with only the west wall of the addition to finish.  RFPs for the interior rehabilitation have been circulated, but no responses have returned. The intent to support local contractors has not been productive, and a wider net must be cast.

Reporting on the recent Calcutta, Mr Garrow noted a net gain of $9,468.04, exceeding the return of the 2022 event. Several important upgrades are mentioned to improve the fundraiser for 2024,  which include a better sound system, and perhaps repositioning the actual Calcutta draw to a central, more visible location. The effort to distinguish SHS members was mentioned, with Mr Smith’s costumed presence cited as an exemplar.

Contributions have been received in memory of Marie Brouillette and Robert LaPlant. The question of appropriate applications of memorial funds was introduced. Mr Crane opined that when no instructions accompany a monetary gift, that money may be spent in any area of need: no specific “memorial” is required other than the customary notation in our records. The matter is very different when a bequest or endowment is considered, which may place specific requirements on the manner in which funds may be accessed or spent. The Brouillette funds include money earmarked for  two memorial bricks and a memorial bench, with several hundred dollars unspecified.  The LaPlant donation was forwarded by his sister, Martha, without instructions.

Mr McFeeters spoke to the need to establish policies for planned giving or estate planning to ensure that the Society has the capacity to receive and administer such legacies. The Finance Committee will work over the winter to develop appropriate policies.

Building use by others in the community was introduced at the September meeting. Policies were solicited from several area organizations, including the Enosburg Opera House, and the St Albans Museum.  Mr Crane and McFeeters will work during the Society’s winter hiatus to draft a suitable policy for use of the building, to be presented for consideration by May, 2024.

The annual Sheldon Craft Show will be held November 4th, and the Society is asked once again to provide food. It is noted that the school has instituted a charge for the use of the kitchen, and requires a school employee to be present. The question of who will pay this cost remains unsettled. In Ms Mercure’s absence, Ms Derry will chair the  event, which will include hot and cold beverages, soups, chili, chowders, hot dogs, pastries and incidentals.

The Membership team is expected to meet to discuss the newsletter and annual appeal. The importance of regular communications with the membership  was expressed, with general agreement on the need to be visible on several social media platforms, as well as in print.

Mr McFeeters reported for the Collections Committee, noting that two members of the committee were unable to meet at all this summer, and that the chair is seeking  new members. In discussing the proposed Collections budget line item, Mr McFeeters observes that certain furnishings are important to the safe and appropriate conservation and storage of the Society’s artifacts: map drawers and closed cupboards or shelves are necessary.

Ms. Kane Stebbins raised the question of moving the Society accounts from its present host bank to the Peoples Trust Company.  A move will require signed minutes of a meeting of the board directing such a move, specifying the authority given to the treasurer to execute the change. Certain other documents are required by State and Federal banking laws. Ms. Crane moved, and Mr. Derry seconded that:

  • That the treasurer be authorized and directed to establish a new banking relationship with Peoples’ Trust Company on behalf of, and to be designated, “The Sheldon Historical Society, Inc”.
  • The treasurer is authorized to open one checking account, and one or more savings or investment instruments at favorable rates, free of recurring  maintenance fees.
  • The Board designate and authorize the Society’s president, treasurer, and director emerita Fern Mercure as authorized signers on these new accounts
  • Only one signature shall be required on checks, drafts, or internal transfers.
  • Additional Sheldon Historical Society sub-accounts may from time to time be deemed necessary and appropriate by the treasurer, and may be opened without further action of the board of directors.
  • An on-line banking capability is required, ensuring equal and timely access by the Society president and treasurer.

The board approved the motion unanimously.

Mr McFeeters (Ms Kane-Stebbins 2nd) moved to allocate $25,000 to a qualified investment instrument seeking a higher yield at an acceptable level of risk, as determined by the Finance Committee.  In discussion, Mr Crane observed that simple savings rates build loss into our budget, as inflation reduces the value of  savings. Investment in a balanced portfolio  is necessary to insure the financial stability of the Society. Further, he notes that potential gifts of equities will require a relationship with a fiduciary agent or manager.  The motion was approved unanimously.

Meeting adjourned on a motion by Mr Crane (Ms Crane 2nd)  at 8:40

Respectfully Submitted,

Andrew Crane,

Secretary