(Arnolds Park)– The Iowa Great Lakes Maritime Museum Board of Directors Thursday heard reports from various committees appointed at a meeting earlier this month.
A rewritten set of bylaws was reviewed by board members. One proposed change is a downsizing of the board from 28 members to nine. The question of who will stay and who will go looms. Director Kay Duhl is concerned the board may be going back on a promise made to governmental entities during the save-the-park campaign when they were told they would have a representative on the board. But fellow board member Mike Zenor doesn’t think it will be an issue, saying he’s already talked to several cities who said they’re in favor of the downsizing. The bylaws committee will review a survey of board members to see who would be willing to resign, along with reviewing other possible options, and make a recommendation at the next board meeting November 10th.
A report from the Finance Committee also sparked a lot of interest. Committee Chairman Al Maser reported the park’s debt remains at 1.7 million dollars, but he says it could be on the way up. Maser reported they’ll be seeking a 500-thousand dollar operating loan so the park will be able to open this coming Memorial Day. But he said the banks are asking a lot of questions, like how will the board be reorganized, how will park operations be affected, and who will be the new general manager of the park. Maser said it’s critical they get atleast an 89-thousand dollar loan to pay real estate taxes that are in default. He added another 40-thousand dollars is needed for past due interest owed the banks. And he says revised figures put the park’s operational loss for 2003 at 47-thousand dollars…an increase from what had been projected earlier. Maser also reported another 28-thousand dollars in bad pledges is being written off…bringing the total of uncollectable pledges to 228-thousand dollars.
Board member Paul Hedberg expressed concern the park’s financial woes are having an adverse affect on the Maritime Museum. He wants the incoming board to address the situation, saying a separate bank or trust account needs to be established specifically for the museum entity.
The Iowa Great Lakes Maritime Museum board’s next meeting is set for 10:00 a.m. Monday, November 10th.
