Richford VT

RICHFORD ECONOMIC ADVANCEMENT CORPORATION
BOARD OF DIRECTORS

DECEMBER 4, 2008

President Connie Burns called the special meeting to order at 6:40 PM with directors Wendell Fortier, Darlene Gregoire, Bill McGroarty, Albert Perry and Wally Steinhour present. Also present was Laura Ovitt.

Motion made by Albert Perry, seconded by Wendell Fortier, to pass over the minutes of the November 13 regular meeting. The motion carried.

Darlene Gregoire presented the November financial statements, which showed an expense of $113.00 for the fidelity bond premium. Motion made by Bill McGroarty, seconded by Albert Perry, to approve the financial statements. The motion carried.

The board discussed the recent Jay Peak job fair. Connie reported 27 people interviewed for positions and 1 or 2 were hired. The rate of pay offered and the transportation expense were major issues for many of the potential candidates.

Laura presented expenses as follows:
Job fair advertising -  St. Albans Messenger flyers            $145.92
County Courier – flyers            $136.50
- ad                $  76.00
Community Mixer -     Connie Burns – printing invitations        $  24.75
Laura Ovitt – postage for invitations        $  26.00
Petty Cash          -     Reimbursement – postage            $  24.40
$433.57
Laura reminded the board that reimbursement for job fair expense will be received from Jay Peak ($100.00) and WIB ($150.00)
Motion made by Darlene Gregoire, seconded by Albert Perry, to approve the expenses. The motion carried.

Motion made by Albert Perry, seconded by Wendell Fortier, to increase petty cash to $50.00. The motion carried.

The board discussed a misinterpretation of the memorandum of agreement between Ryea & Sons Masonry and REAC. The board agreed by consensus to authorize Connie Burns to negotiate a clarification of this agreemement.

Albert Perry thanked Connie, Wendell and Laura for organizing the first community mixer, which was well attended and was successful.

The next regular meeting will be Thursday, January 8, 2009.

The meeting adjourned at 7:14 PM.

Respectfully submitted,

Laura Ovitt
Office Manager