Error when trying to create first public folder

Working on an Exchange Server 2010 Standard ed installed on Windows 2008 R2 Std. server I keep getting an error when I try to create our first public folder using outlook. (I've used a domain admin account while trying this). The error states

“Cannot create the folder. You do not have sufficient permission to perform this operation on the object. See the folder contact or your system administrator”

I've added myself to the "Public Folder Management" exchange security group, but that didn't help.

I've also verified that we do indeed have a public folder database.

All I really want to do is to create a public folder for some users that have requested it, and give them permission to it.

Does anyone know what step in setting up public folders I may be missing?

Thanks, in advance, for your time.