The old frame is one I scored from Mom's basement. By the way, she always has a treasure or three down there. After looking at several stores and contemplating how to proceed with my bulletin board, I found this pack of cork board, 4 for $5 at Walmart.
When taped together front and back, the pieces were slightly larger than the size I needed. To cut them down, I used scissors. This was the part I was most worried about, but it turned out to be super easy.
To secure the fabric to the board, I wrapped and stapled it, but you also use a spray adhesive. (sorry I don't have a picture of this, but you all are visual ;) )
Here it is - my $5 bulletin board. What do you think?