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November 7, 2017 Minutes

The Board of Trustees of the Working Men’s Institute met on November 7, 2017 at 4:30 p.m. President Fred Frayser called the meeting to order. In attendance were Mr. Frayser, Vice-President Nathan Maudlin, Secretary Tom Cullum, and Director Ryan Rokicki. Robert Bernardin of Hilliard Lyons was also present by invitation.
The minutes were distributed before the meeting. Mr. Cullum moved to accept the minutes as presented. Mr. Maudlin seconded. Approved.
The Treasurer’s Report was then presented by Mr. Rokicki in Mr. Bailey’s absence. Mr. Maudlin’s motion to approve the Treasurer’s Report and hold it for audit was seconded by Mr. Cullum. Approved.
Mr. Bernardin then gave the annual review of the WMI’s investments and holdings with Hilliard Lyons. Particular discussion took place regarding investments in Exxon and Apple. Mr. Bernardin recommended a reduction in Exxon stocks while increasing the WMI’s investment in Apple. Following this advice, Mr. Maudlin made the motion to trim $20,000.00 from the WMI’s Exxon holdings and reinvest that value in Apple. This motion was seconded by Mr. Cullum. Approved. Mr. Bernardin ended the annual financial review with thanks from the Board.
In Old Business
Special Projects – The printed charrette summary, “Vision New Harmony” was discussed. The Trustees acknowledged the deadline with the Town was quickly approaching and that the WMI would need to know the intentions of our prospective donors by December 1.
Electrical work – The estimate from electrician Josh Lamb regarding repairs/upgrades to the WMI’s electrical system was reviewed. Mr. Cullum made the motion to complete the work in stages and to authorize Mr. Rokicki to negotiate the details, including a reasonable completion date with Mr. Lamb. Seconded by Mr. Maudlin. Approved.
In New Business
Discussion was held regarding the needed repairs to the Museum Gallery. The room requires similar repairs to those completed earlier in the year in the Art Gallery. Mr. Rokicki will contact Koester Construction for a quote.
Mr. Rokicki then gave the Director’s Report.
Mr. Rokicki presented the claims. Mr. Cullum moved to accept the claims and this was seconded by Mr. Maudlin.
The meeting was then adjourned.