Vice President Business Council

Minutes

May 1, 2001

VP Issues:

Nasser reviewed the agenda items for the May Board meeting.

AVP Issues:

Financial Services Issues/ASSP:

Joe will be attending the Budget Accounting and Reporting (BAR) meeting on Thursday & Friday of this week.

Joe will be attending the Foundation Investment Committee next Wednesday in Bellevue; John Lasik and Jen Grey will also be attending – Joe will look into possibly attending via phone connection.

Joe reported that the first distribution of payroll checks/advises under the new policy went well.

ASSP – Russ Elliott will be Project Manager; Jana Kruckenberg full time Functional Lead for the next three months

Joe has contacted Lee Voorhes – (legal) regarding a bond consul for financing options. (An RFP for Financial Advisor is in process.) Joe talked with US bank and a 2 year bond anticipation loan at 4.5% might be available (pay interest for two-three years). Currently a 6.1 public bond rate long term is a possibility. The Financial Advisor can give us more information. We are looking at various funding avenues.

S&A - Joe will meet with Pappas to finalize the proposed S&A budget.

CTS Issues:

Facilities Management:

Edmonds – there was a problem with two different bid documents being circulated. It has been corrected.

ESCO – We are working out a problem on our contract through GA - steam condensate meters are failing (80%) within 90 days. It is being addressed.

QUALF – Bill will be talking with Rich on the Business pro forma. 

ICBO FMD subcommittee will meet here next week