Board Meeting Minutes/July 20, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on July 20,2015 at 3:40PM.

All members were present. Guests: John Layne

The minutes of the July 6,2015 meeting were approved with a correction. Under ‘President’s Report’ the expiration date for the CCO’s CBA is 2015.

NEW MEMBERS:

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

RESIGNED:

ERASED:

 

OLD/CURRENT BUSINESS:

I. President’s Report

  • Flowers were delivered to Carolyn Mason in memory of her brother who passed away.
  • A refund for the over payment to the State of Ohio has been submitted.
  • The Blue Wisp Band had a very good turnout for their performance at the Behringer-Crawford Museum in Devou Park. The band was also scheduled to perform on Fountain Square in conjunction with the All-Star Game. The performance was rained out.
  • President Frankenfeld put forth a proposal to invite a representative from John Investments as well as US Bank to offer options for reinvestment of Treasury Bonds that will be maturing soon. The Board agreed and asked Paul to set up the presentations for a future Trustees meeting.
  • President Frankenfeld reported that during the year of renovation at Music Hall the CSO would tour both Europe and Hong Kong. They will also participate in the Edinburgh Festival. Contract waivers will need to be dealt with but President Frankenfeld does not see any potential problems.
  • The pit issues for the opera ‘Morningstar’ were resolved satisfactorily. A review for the Chicago Tribune was glowing and the Local Enquirer review was more critical, stating the performance was static.
  • President Frankenfeld referred back to the meeting of June 9, 2015. Gary Slowik has a group benefit product with some attractive prices. President Frankenfeld was requested to give due diligence and see what might be possible. Even with a dozen people participating there might be something to offer members.

 

II. John Layne – audit report

  • Based on the findings of the audit the financial health of the Local is excellent.
  • Kelley, Galloway, Smith, Goolsby, PSC (KSGG) made the following recommendations.
  • The General Ledger needs to be posted more often. Updated office equipment and software can help Rhonda get this done more often. For example, September financials need to be posted in December. Posting quarterly is highly advised. KSGG can provide training for new, updated software.
  • Upon review of the audit report and supplemental materials the management response is:

The Board of Trustees has discussed the options concerning the capabilities of preparing financial statements that would not require significant changes by the auditor. The Board has decided that it would not be cost beneficial to change the current practice. The Board believes it is in the best interest of the Fund to continue to retain the auditing firm to prepare tis financial statements in conjunction with a year-end audit. However, management will review and approve adjusting entries, if any. Additionally, management will review and approve the financial statements, including disclosures, before they are presented to the Trustees. Management will review and approve the Form 990 and Form LM-2 before they are filed.

 

NEW BUSINESS:

I. Overtones

  • Trish Carmichael is working on a new format. A consensus of the membership regarding a group benefit product could be done through Overtones.

II. Chico Armstrong, a security guard in the building, is a songwriter and has asked Paul whom he should approach with his music. The Trustees provided a couple of names, which Paul will share with Chico.

III. Reminder that this is an election year. Petitions will be available September 1 and due October 6, 2015.

IV. The next quarterly membership meeting is tentatively scheduled for September 28 at 7PM. President Frankenfeld will try to reach out to members again. Honorary memberships will be presented at this meeting along with the financial report.

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B25147-25155 and B25160-25162.

Next meeting scheduled for August 3 at 3:30PM.

Meeting adjourned at 5:26PM.

/by