Executive committee meeting agenda and minutes from , October 12, 1994

AGENDA EXECUTIVE COMMITTEE MEETING OCTOBER 12,1994 I. WELCOME AND ACCEPTANCE OF MINUTES II. ANNOUNCEMENTS III. AUDIT REPORT IV. BUILDING MORTGAGE V. JEWISH REPORTER BUDGET VI. COMMUNITY RELATIONS COMMITTEE REPORT VII. NEXT MEETING NOVEMBER 9, 1994 JEWISH FEDERATION OF I-AS VEGAS SIGESMUXD CEHTER - Maryland Pa?c??y. Suiu 400 - Us VeSas. (702) 732-0556-FAX (702) 732-3223 JEWISH FEDERATION OF LAS VEGAS Executive Committee Meeting Minutes October 12, 1994 PRESENT ABSENT Dr. Allan Boruszak Amy Boruszak Gene Greenberg Hal Ober Emily Novick Michael Novick Doug Unger Rabbi Sanford Akselrad Daryl Alterwitz Ira Fischbein Sandy Mallin Arthur Marshall Dr. Marv Perer Leslie Simon STAFF Ronni Epstein Tony Figueredo Ted Flaum Sharon Heiman Suzan Loeb I. WELCOME AND ACCEPTANCE OF MINUTES Dr. Allan Boruszak welcomed the Executive Committee members to the October Executive Meeting. He asked for a motion to accept the minutes from the September 13, 1994 meeting. Hal Ober moved to accept the minutes from the September 13, 1994 meeting. Mike Novick seconded and the motion carried. II. ANNOUNCEMENTS Allan encouraged the Executive Committee to attend Board Orientation on Wednesday, October 26 th at 5:00 p.m. at the Federation. Mark Berger, our CJF Community Consultant, and Dennis Stein, from our Board who did our Strategic Planning Process, will facilitate the program. He stressed that we must have as close to 100% participation as possible. Allan impressed on everyone the importance of attending the General Assembly in Denver as there will be some very important programs offered. He said Barbara and Ira Fischbein and Amy and he would be attending the General Assembly, and he has spoken to many of the Board members and would be contacting more members. Since Denver is close to Las Vegas, he would like everyone to make every effort to participate even if only for a few days. Allan said the Business and Professional Division, in cooperation with the Community Relations Committee, will sponsor a luncheon at the Golden Nugget on Wednesday, November 2nd at 12:00 noon. Dr. Brian Cram, Superintendent of the Clark County School District, will serve as the keynote speaker to discuss the School Bond issue. Allan asked everyone to mark their calendar and RSVP to Ted Flaum. III. AUDIT REPORT Allan said the accounting firm of Main Gorman & Co. conducted our 1994 Audit. He introduced James Mein to review the results. James Main said the audit went very smoothly and the problems from the prior year's audit have been corrected. He noted Federation's positive changes in operation procedures as well as its increased contributions. He complimented the Federation and Tony Figueredo for all of the work done in accomplishing the changes and making this audit a qualified audit. Tony has rectified the issue of land evaluations and has reflected those as prior period adjustments. James said he was very happy with the system in place at this time. He went through the 1994 Audit explaining the Balance Sheet, Statement of Activity, Statement of Functional Expenses and Statement of Changes in Financial Statements. He then asked for questions. Hal Ober asked James how he was arrived at the fair market value of the land. James said of the $237,000 in land values $200,000 is in Humbolt County. The land was originally valued at $200.00 an acre and was decreased to $150.00 an acre after reviewing information available from realtors. Amy Boruszak said the land has always been on the books listed at a value of $1.00, and the donors of the acreage had vastly overrated the value. James said in the future an appraisal should always be done on any property gift over $5,000. Amy was concerned in the wisdom of having a heading of "Returns to Donors" under the Statement of Changes in Financial Position. Tony said the proceeds actually came to the Federation through the Campaign and the term is not correct as the money moved from one fund to another fund. Amy requested research be done on how this was previously handled. Mike Novick motioned to accept the 1994 Audit. Doug Unger seconded the motion and it carried. Allan thanked Main Gorman & Co. for coming to the meeting and explaining the audit. Amy complimented James on how promptly they did the audit, and asked him to write a management letter. James said he would be sending a letter reporting the changes and saying any concerns he had in the Federation operations have been addressed. IV. BUILDING MORTGAGE Allan said at the last Executive Committee meeting the Executive Committee voted for the Federation to buy-out the building mortgage as an investment, and charge the Federation an interest rate of 6.5%, with the understanding that if Hal Ober could get the bank to reduce the mortgage rate to 6% that we would leave the mortgage with the bank. Allan asked Ronni Epstein to explain the proposal which was presented to Ira Fischbein and Ronni by First Security Bank. Ronni said she and Ira met with Mr. Tom Needhan of the First Security Bank. The bank could not outright reduce the interest rate to 6%, but they proposed we purchase Certificates of Deposit at the total amount of the loan. The bank would hold the CDs as collateral and pay us 4% interest charging us 1% over the interest rate earned on the Cds. This agreement would be good for one year. Amy said when people give money to an Endowment Fund they also give their trust that the Federation to use this money to do things for the community rather than subsidize a building. Mike Novick said if the mortgage is paid off another mortgage could be obtained with no appraisal if under $150,000. Allan said as a point of order that the Executive Committee voted to self mortgage the building if Hal couldn't get an interest rate of 6%. Since Hal was unable to obtain the 6% interest that motion is maintained. V. JEWISH REPORTER BUDGET Allan said at the last Board meeting Ronni was requested to put together a Jewish Reporter Budget. The Federation presently does not have a budget to publish the paper. He asked Ronni to explain the budget and to present issues that need to be discussed. Ronni said there are serious problems with publishing the paper. Ads are going to be run in the local paper and in two California papers seeking an editor. Beri Kaplan, our interim editor, is a college student and although very nice and wanting to do a good job she is not capable to meet the responsibilities of the daily operations of a newspaper. Georgianna Duffy is doing an excellent job with obtaining ads for future issues but results will not show until the paper begins moving forward. Ronni reviewed an estimated Budget, covering a year, amounting to 8,000 issues published monthly at an estimated cost of $4,000 an issue. At this time 10,000 papers are published monthly of which 2,000 are delivered to synagogues an other drop-off points. She suggested perhaps mailing to the full list for three months and then sending a letter requesting everyone obtaining a subscription. She said mailing out less papers might not be the best way as this is the only vehicle the Federation has to get the "word" out to the Jewish community. Amy felt the paper should be sent to everyone on the Mailing list. The Federation spends money on other services and this is another program. Everyone agreed we should keep our Mailing list as "clean" as possible and send the paper to everyone on the list. A discussion of the Israelite followed. Amy said the Federation is non-profit, and there are members of the Board who have advertisements in the Israelite and not in the Jewish Reporter. Hal Ober motioned to accept the Jewish Reporter Budget. Mike Novick seconded and the motion carried. VI. COMMUNITY RELATIONS COMMITTEE REPORT Allan called on Hal Ober to give the Community Relations Committee report. Hal said the Steering Committee of the Community Relations Committee met yesterday morning. They have created two subcommittees; one will prepare a mission statement for the Community Relations Committee and the other will develop by-laws for the CRC. As requested by the Federation Board, the CRC Steering Committee addressed the National Coalitions' motion for members of the Coalition to get support from their respective boards in order for the Coalition to go before the school board and city and county entities to gain support for positive alternative programming for students outside the regular school hours, including programs such as Safekey for middle school students. The CRC Steering Committee unanimously approved such support. The Steering Committee recognized that due to schools conducting split sessions, there are concerns about what students will be up to after school gets out. Programs need to be offered that will encourage students to stay off the streets. Hal Ober recommended the Board of Directors of the Jewish Federation of Las Vegas support the National Coalition's request to go before the school board and city and county entities to gain support for positive alternative programming for students outside the regular school hours, including programs such as safekey for middle school students. Doug Unger seconded and the motion carried. Hal said he and Rabbi Sanford Akselrad are co-chairing the Community Relations Committee. Committee members are as follows: Shelley Berkley, Brian Berman, Renee Diamond, Dorothy Eisenberg, Karen Galatz, Dr. Ed Goldman and Edythe Katz. They are preparing the Committee's Mission Statement and it will reflect the purpose of the committee is to be proactive rather than reactive. Allan thanked Hal for his report. VII. DAY SCHOOL Issues surrounding the future of the Solomon Schecter Day School were discussed. VIII. NEXT MEETING Allan said the next meeting would be November 9, 1994. JEWISH REPORTER 10,000 copies 1. Printing $936.00 2. Production PMTS ($500.00) temporary $200.00 3. Mailing & Postage Labels affixed Postage $160.00 (8,000 - $1,600) (5,000 - $1,000) (4,000 - $ 800) 4. Drops 5. Misc. $75.00 (15 areas) $2,000/year ($100/issue) 6. Salary $18,000/year JEWISH FEDERATION OF LAS VEGAS JEWISH REPORTER BUDGET Number of Issues YEAR TO DATE 10/25/94 FROM OCT 25/94 TO JAN 31,1995 FROM FEB 1/95 TO JUNE 30.1995 10 TOTAL 18 REVENUE: Advertising $4,000 $22,500 $80,000 $106,500 EXPENSES; Printing Typesetting & Layout JTA Postage & Mailing Design Half-tones Photography Sales Commission Salary Payroll Taxes Employees Benefits Miscellaneous Total Expenses NET INCOME (LOSSES) 1,872 2,276 1,360 2,726 292 111 50 450 3,000 250 500 12,887 (8,887) 5,100 3,600 720 9,144 1,200 180 3,500 7,750 775 1,200 33,169 (10,669) 8,500 6,000 1,200 15,240 2,000 300 12,750 12,500 1,250 1,000 2,000 62,740 17,260 15,472 11,876 3,280 27,110 ? 292 3,311 530 16,700 23,250 2,275 1,000 3,700 108,796 (2,296)