Present
Jessica Abell, Robert D. Black (Junior Warden), Marianne Culver (Senior Warden), Frances E. Horn, Sharon Johnson, Richard H. Kelley, Phillip Mantle, Cecilia Mowatt, Ronald Mui, Christopher Plotner and Elsa Vaintzettel.

Absent
The Rev. Debra K. Bullock (excused), Tom Eley (excused), Marcus Hall (excused), The Rev. Frances M. Holliday (excused), The Rev. Sunny Lopez (Deacon), The Rev. Jackie Lynn (Deacon), The Rev. Judi Mason (Deacon) and The Rt. Rev. William Persell (Bishop).

Also Present
Bruce J. Barber, II (Director of Cathedral Music), Tom Patterson (Acting Business Manager) and The Rev. Peter C. Siwek (Vicar).

Formation

• The meeting was called to order at 5:47 p.m. by Marianne Culver.  The Rev. Siwek offered a prayer and blessing over the meal provided by Tom Patterson. 
• A few moments were taken to share personal updates and prayer requests.  

Information

• Tom Patterson introduced John-Paul Buzard and Keith Williams, who were selected to assess the Organ. Their report is expected in approximately 30 days and will detail the current condition of the instrument.
• George Culver, the recently appointed new Chair of the Investment Committee, reported on activities of the Investment Committee in 2006. A standing quarterly meeting was held with our investment advisor in July and performance is consistent with expectations.  Our current portfolio is 60% stocks and 40% bonds.  The advisor has $2.5 billion under management overall and has been associated with the Cathedral for 10+ years.  We have established a $100,000 line of credit against the endowment, at 1% below the prime rate, to borrow from time-to-time from the endowment, for instance the $100,000 recent gift to the Cathedral Counseling Center.  Culver has asked for a detailed report on our interest rate(s) for any debt, which he will present at a future meeting.  Culver will be reviewing the Committee’s process for identifying, screening and monitoring fund mangers and will report back to Chapter on this process as well as management of the Cathedral’s cash flow. 
• Peter Siwek informed Chapter of a St. James community learning opportunity for Lent 2007 around the topic of sacred space and how it is used. The instructor would be the Rev. Dr. Ruth Meyers, Academic Dean and Professor of Liturgics at Seabury-Western Theological Seminary. The goal of the series would be further discernment about the Cathedral’s worship life and liturgical space.
• Tom Patterson reported that Judith Tribbett has made good progress in recent weeks on updating the Cathedral’s membership database, and he submitted some statistics already identified as she brings the database current.
• Patterson updated Chapter on initial steps in moving forward with Stewardship Canvas 2006.  Bill Cosper has volunteered to provide advice on the process, and we will be looking at items used in 2004 and 2005 as materials are produced for 2006.  Patterson indicated that a chair was needed for the campaign.
• Ronald Mui reported on work to develop a Task Force for Discernment over Redevelopment Proceeds.  The Chapter sub-group met and determined that they would like to see five aspects of community life represented in this process: historical, investments, outreach, facilities and children. Mui indicated that they would need additional time to present a full slate of members for the Task Force, which would be sent to the Wardens.
• Cecilia Mowatt will participate in the planning for the Bishop’s Ball, and she encourages all to attend. 

Discussion

• Senior Warden Culver shared with members that it would be desirable if a member of Chapter represented St. James at the Chicago North Deanery meeting on 16 September 2006.  Cecilia Mowatt agreed to attend; Chris Plotner also volunteered to attend if his schedule is open; George Culver volunteered to attend if Chris Plotner cannot.
• Patterson introduced the Cathedral’s architect, Chip von Weise of von Weise Associates, who presented proposed plans for redevelopment of the Cathedral undercroft, narthex and guild hall. Chapter members were asked to review the plans over the next month. The Redevelopment Steering Committee is seeking three bids for the construction to make a recommendation to Chapter for approval at the October meeting. 

Decision

• Siwek reported on Tyrone Fowlkes’ progress in the ordination discernment process, which requires the approval of 2/3 of Chapter members (or 9 members) to move forward. Several Chapter members had to leave the meeting before this item of business was addressed. Some others were not personally acquainted with Tyrone and expressed a desire for an opportunity to meet with him and his discernment committee chair before signing the document for approval. Some signatures were made but final approval was tabled until additional information could be provided to Chapter, i.e., Chapter could meet personally with members of his Discernment Committee and/or Fowlkes.  The topic will be revisited for decision at the October meeting.
• Mowatt asked that the Chapter formally acknowledge Jessica Abell for her fine work in making sure St. James was open and welcoming to those interested in witnessing the Keiskamma Altarpiece. 

On motion made by Cecilia Mowatt, seconded by Marianne Culver, and carried, Chapter formally acknowledge Jessica Abell for her work in supervising the exhibit space during the display of the Keiskamma altarpiece.

• Copies of the Minutes for the 8 August 2006 meeting were distributed.

On motion made by Cecilia Mowatt, seconded by Robert Black and carried, the minutes for the 8 August 2006 meeting were approved.

• Elsa Vaintzettel reported that signature authorization for the DeKoven Fund needed to be updated.

On motion made by Cecilia Mowatt, seconded by Phillip Mantle and carried, Chapter authorized the change in signature authority for the DeKoven Fund as follows:  BE IT RESOLVED, that the signatories on the CATHEDRAL OF ST. JAMES JOHN DE KOVEN FUND, account #16076116, at J.P. Morgan Chas Bank shall be changed from Ralph Blackman or Douglas Lyons to Peter Siwek or Tom Patterson.

• Treasurer Vaintzettel presented the Profit & Loss Statement for the period ending 31 August 2006: Year-to-date, Income exceeds Expense by $16,388; expenses are running under projections, and this is reflected across most spending lines. Vaintzettel submitted the current Balance Sheet, Pledge Analysis and a Redevelopment Proceeds Projection as of 31 August 2006.

On motion made by Frances Horn, seconded by Cecilia Mowatt and carried, the Treasurer’s Report as presented was received and approved.

Other

• Debra Bullock will provide the meal for the next Chapter meeting. 
• Fran Horn and Marianne Culver indicated they would not be present for the October meeting. 

The meeting was adjourned at 8:55 p.m.

Respectfully submitted,
Richard H. Kelley
Secretary