Board Meeting Minutes/August 5, 2013

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on August 5, 2013 at 1:05 PM.

 

Mike Andres was absent.

The minutes of the July 29, 2013 were approved.

 

NEW MEMBERS:

None

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

NONE

REINSTATE:

NONE

DECEASED:

NONE

RESIGNED:

NONE

ERASED:

NONE

OLD/CURRENT BUSINESS:

I.  Constitution Revision voting

  • Ballots will be printed by Berning Printing and mailed out.  This will give individuals adequate time to request a hard copy if desired.
  • President Frankenfeld clarified how voting results are to be handled.  A simple majority will pass the revisions.

II.  Class VI retirees

  • President Frankenfeld reported that at this time there are only 6-7 individuals who qualify as a Class VI retiree. This includes any member of the CSO that retired prior to 1990.  The payments have not been increased in a number of years.
  • Barbara Lambert made a motion to increase the payments from $800 to $1000.  Joe Gaudio made the second.  The motion passed.

III. Financial Report

  • John Layne from Kelley, Galloway & Company, PSC presented the findings of the independent auditors report.  The report was completed on August 2, 2013.
  • Mr. Layne was very complimentary of Rhonda Gillum as Office Manager and treasurer.
  • The financial state of the Local is excellent.  Although Mr. Laine is not licensed to advise on investment options he did encourage the Board to meet with a representative of our bank and discuss the maturity dates of current investments and look at options for some of the funds that could be earning interest.  New investments should be created to have staggered maturity dates.
  • Mr. Layne also reported that the Board has done an excellent job of overseeing outgoing funds.  He suggested that the Board should also receive a report of incoming funds.  This is standard practice in organizations and should be reported in the minutes.  A simple addition to each meeting would be a report of deposits along side the vouchers being approved.  Lynne Scott also suggested that she could supply a quarterly report of dues income as well.
  • The Board concurred with Mr. Layne’s suggestion regarding the deposit reports.
  • Joe Gaudio made the motion to approve the findings of the audit.  Don Hurd gave the second.  The motion was passed.

NEW BUSINESS:

There was no new business

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B 24261-24281

Next meeting scheduled for Friday, August 30, 2013 at noon.

Meeting adjourned at 3:25PM.

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