Present: Dave Davis, Chairman; Jaye Butler, Andrew Conway, Greg Phillips, Ben Schoenberg, Scott Slesnick, Todd Strong, Directors. Rick Rubenstein, representing the Festival team. Treasurer Dan Howard joined the call at 9:11pm EST.

Absent: Katje Sabin, Recording Secretary, excused for medical reasons. Katje arranged in advance for Greg to take minutes in her place.

Call to order: The meeting was called to order at 9:05pm EST.

Agenda: The agenda was accepted by unanimous consent.

MINUTES

Meeting of December 16th, 2003. Several corrections were made to the minutes. The minutes were approved as corrected by unanimous consent.

REPORTS

2005 festival site selection. Rick Rubenstein is temporarily assisting Katje handling the site selection process. He discussed emails and proposals received regarding the 2005 Festival Site. There have been several cities mentioned; however, the only reasonably solid, well researched proposals received so far are Quad Cities and Reading, with Quad Cities being the most thorough proposal. There is also a partial proposal for Birmingham, Alabama. However, information is spotty. Rick suggested that a standardized proposal form be created.

Rick Rubenstein left the call at this point.

Treasurer. Dan briefly explained the December and preliminary year-end figures that he had provided to the Board. The draft budget was briefly discussed. Dan is investigating how we can get a better rate of return on our longer-term funds with the assistance of the Finance Committee.

Dan Howard left the call at this point.

CONTINUING BUSINESS

JUGGLE contract. Dave and Stan Allen will be meeting next week to attempt to finalize the Contract. We are continuing to operate under the terms of the deal memo.

Video Contract. The formal notification of requests to bid is in the JUGGLE magazine just published. We will discuss any proposals that are received at the next Board meeting.

Appointments to the Election Committee. Greg proposed that the following volunteers be appointed to the Election Committee: Dave Altman, Sean Haddow, Don Lewis, and Robert Puhalla. Any Election Committee member who agrees to stand as a candidate in this year's elections would be required to withdraw from the Committee. The motion passed by unanimous consent.

Karl-Heinz Ziethen. Further investigation is required regarding whether and how we are inviting Karl-Heinz to this summer's festival. Todd will follow up.

Budget. Discussed earlier in the meeting. Dan and Andrew have prepared a draft budget which they continue to refine.

NEW BUSINESS

Bylaw status. A draft of a proposed set of Bylaws have been prepared by Robert Puhalla and is under discussion by the committee. Jaye and Greg propose: That the Chair of the Bylaws Committee be requested to provide an electronic copy of the current draft bylaws to the Board not later than January 27, 2004, and that the Chair of the Bylaws Committee present a report concerning the Committee's progress at the next Board meeting. The motion passed by unanimous consent.

Treasurer authorizations. Andrew proposed the following motion:

Resolved, that the above-referenced accounts [number omitted] shall be established in the name of the Organization with Guaranty Bank ("Depository Institution") under the rules and regulations as prescribed by said Depository Institution, wherein may be deposited the funds of the Organization, whether represented by cash, checks, notes or other evidence of debt, and from which deposit withdrawals are hereby authorized in the name of the Organization upon orders signed by any one of the signatures below. [Form to be signed by Dan Howard]. Endorsements for deposit may be evidenced by writing or stamping the name of the Organization on the instrument deposited, without designation of the party making the endorsement. This Resolution Supercedes any previous Resolution of the Organization on file with the Depository Institution. If the authority of any Authorized Individual changes, the Organization is obligated to inform the Depository Insitiution of such changes.

Further, Dan Howard is instructed not to submit this signature form to Guaranty Bank until he is bonded.

The motion passed by unanimous consent.

IJA investment strategy. Currently all the IJA's longer term holdings are in the Vanguard Prime Money Market fund, which has a very low rate of return. The Finance Committee will be asked to make recommendations regarding adjustments to our investment strategy.

Withdrawal from life member fund. Andrew moved that the annual withdrawal from the Life Member Fund be postponed until after the February Board meeting pending further review. The motion passed by unanimous consent.

Secretarial note: This motion refers to the standing January transfer of funds from the Life Member Fund to the General Operating Account to cover services provided to Life Members.

Notice of meetings. At Andrew's request, the Chairman ruled that as an interpretation of the Bylaws, electronic mail will be considered equivalent to postal mail as a means of notice for meetings.

NEXT MEETING

The next Board meeting will be held on February 17, 2004 at 9pm EST.

ADJOURNMENT

The meeting was adjourned at 11:21pm EST.