Board Meeting/August 10, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on August 10,2015 at 11:06AM.

All members were present.

The minutes of the July 20,2015 meeting were approved.

NEW MEMBERS:

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

Harry Meuser – Bassoon

RESIGNED:

Janice Ahn – Violin 7/27/15

ERASED:

 

OLD/CURRENT BUSINESS:

I. President’s Report

  • President Frankenfeld began the meeting with an update on scheduling an investment firm to speak to the Board regarding options when several Treasury Notes mature. The gentleman he is trying to schedule is on vacation.
  • President Frankenfeld has put in calls to Anthem and Horan to see if they have anything comparable to Gary Slowicks proposal.
  • The Board was informed on the office hardware and software update. President Frankenfeld suggested an IT person come in and evaluate. Vice President Barb Lambert will contact Gary Winters for information he can provide. President Frankenfeld will look to area businesses that may be able to help.
  • Articles are being finished up so that an issue can be completed.
  • Petitions for Officer and Trustee elections will be available on August 24. Elections are in December.

NEW BUSINESS:

I. Idina Menzel is singing at Riverbend on August 18. Work dues will be held back based on our scale.

II. Lynne Scott has called Yolanda regarding the Labor Day picnic.

III. Phone book advertising. It was discussed that we continue to reduce the amount of advertising in the phone book due to the reduced function of the book and increase in using the web to locate businesses and phone numbers.

IV. Trustee Mike Andres commented that the Playhouse would be doing Sondheim musicals. He was curious to find out who was doing the contracting.

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B25156-B 25159 and B 25163 – B 25185

Next meeting scheduled for September 14, 2015 at 3:30PM

Meeting adjourned at 11:34PM.

/by

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

Quarterly Membership Meeting/June 22, 2015

The quarterly meeting of the general membership of the Cincinnati Musicians’ Association was called to order on June 22, 2015 at 7:12PM.

12 members were present.

The minutes of the March 30,2015 quarterly meeting were approved as read. M/S was Hurd/D. Dunevant

OLD/CURRENT BUSINESS:

I. President’s Report

  • President Frankenfeld reported that the contract negotiations for the CSO were successful. He outlined the 5-year contract providing 1.5% increases each year over the five years. Current season members received $10,000 for their 401(b).

II. Music Hall Renovation

  • President Frankenfeld reported that there had been a meeting with Akoustiks, with all of the players. The proposal seemed drastic and that architecture was being put before acoustical considerations. His concern is that the process is moving too quickly. The $25 million tax credit had been pulled but was re-instated. There were a series of acoustical tests, all of which had negative effects.
  • James Lambert, CSO musician on the Committee for Restoration was present and provided the following information
  1. First, and foremost, the strategy is to “do no harm”.
  2. The acoustical tests were likened to a photo shoot. The acousticians got to hear the hall 6 different ways. Most people seemed to like the sound when the cloud was raised a little bit.
  3. The next meeting is scheduled for June 23 and he would find out more information.
  4. His impression is that the appearance of the hall would not be changed. There was concern that it would be gutted but that is not the case. They have to pay attention to the historical requirements.
  5. The company does not want to touch the physical cosmetic appointments. He provided an example using the walls. Currently they are plain but they may become articulated (not flat) which would create texture to the walls. Everyone involved so far likes the acoustical footprint of the hall but the task will be to get the sound dispersed equally throughout the interior. Currently the orchestra has to exaggerate some things in order to be heard (articulations, etc.).
  6. The acousticians said that it was their hope that when everything is done people will come in and ask, “What did you do”?

Discussion:

  • President Frankenfeld voiced his relief that drastic measures would not be taken and asked about the timetable. Jim Lambert replied that the acousticians said the time frame was short but they think it can happen. He continued that the concern is for the musicians to take the process seriously to reduce the number of rumors. He is encouraging musicians to voice their concerns.
  • Pat Nott, member, commented that the CSO as an organization should be sharing information with the public because rumors are possibly a result of the plans that were released 3+ years ago. She also asked about plans for the Ball Room. Jim replied with regard to the old plans that things have progressed to plan B or C at this point but that he would share her thought with the committee. As far as the Ball Room is concerned that is outside his purview. He is only involved with Springer Auditorium. In summary he stated that he feels concerns are being heard.

 

NEW BUSINESS:

I. Web Sites/Barb Lambert

  • Vice President Barb Lambert asked those present who had their own website and who was interested in having their own website. She was prepared to make a presentation on the ease of creating your own website. If any members are interested they are encouraged to contact her for more information.

II. Bravo Music/Don Hurd

  • Trustee Don Hurd, also a member of the Bravo Board, gave those present a brief update on what Bravo is working towards.
  • Bravo is interested in building up their educational outreach. They are looking to provide opportunities for members of the Local to fund performances.
  • There were several questions from those present about the funding. Don answered as fully as possible but reminded everyone that they are still in the fledgling stages.

Meeting was adjourned at 8:21PM and was followed by refreshments.

 

 

/by

Board Meeting/July 6, 2015

 

  • The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on July 6,2015 at 3:35PM.

    All members were present. John Layne of Kelley, Galloway & Company, PCS was a guest.

    The minutes of the June 22,2015 meeting were approved.

    NEW MEMBERS:

    GOOD STANDING FROM OTHER LOCALS

    NEW MEMBERS:

    REINSTATE:

    DECEASED:

    RESIGNED:

    Christine Nicols, 6/29/15

    Annie Gordon, 6/29/15

    Robert Sullivan, 6/30/15

    Joseph Merchant, 6/30/15

    ERASED:

     

     

    OLD/CURRENT BUSINESS:

    I. Presidents Report

    • The opera, Morningstar, is experiencing issues in the pit. It is extremely crowded. One person from each string section has been removed in an attempt to ease the overcrowding. It is a safety concern.
    • The Wisp Band will be performing at Behringer-Crawford Museum in Devou Park.
    • The one-year agreement with the CCO is set to expire December 2016. It was agreed that they would program Amahl and the Night Visitors this year.
    • BAMSO is phasing in a three-year raise. They need to write a Letter of Memorandum (LOM).

     

    II. John Layne preliminary audit report

    • Layne was present to give an initial overview of the audit results. A few items were highlighted for the Trustees to look at and understand.
    • Revenues are down just a little bit. As members pay dues in advance it appears as a liability.
    • “Other Income” was $21,430 in 2014 and $2,632 in 2015. A CSO Broadcast rights payment occurred in 2014.
    • Expenses are up as a result of the CSO legal fees associated with the contract negotiations.
    • Promo usually shows a slight profit but the income is less as a result of fewer engagements. If the numbers are looked at as a calendar year versus a fiscal year there is a slight profit for Promo.
    • Cash holdings are also down a bit as a result of the Association absorbing part of the dues increase established by the AFM National Office.
    • The Association does not spend a lot of money but rent is a bit higher and there are still eight individuals who we are paying out on pension/insurance.
    • John requested the Trustees and Officers to examine the 990 with particular attention to the pages with ‘Yes’ and ‘No’ answers. In addition, he reminded the Board that next year the Treasury Notes will mature and we will have to decide how to handle the reinvestment.
    • President Frankenfeld asked John if there had been any difficulties found because of the debit card. John responded that it has not caused any concern or problem.
    • John also reported that they found an overpayment to the State of Ohio taxes related to Promo. They are working to initiate a refund.

    NEW BUSINESS:

    I. Cybervise

    • Secretary Carol Dunevant has been working with Cybervise to correct an error message that showed up on the website. She reported that we were offered a new pricing from Cybervise that would continue the level of maintenance we currently have but cost would be reduced to $750 a year. This cost reflects a significant savings. A motion to move to the new billing was presented by Don Hurd. Barb Lambert gave the second. The motion was approved.
    • President Frankenfeld informed the Board that the brother of former Secretary Carolyn Mason had passed away. The Board agreed to send a plant to Carolyn. President Frankenfeld will take care of the purchase.

     

    THE FOLLOWING VOUCHERS WERE ORDERED PAID:

    See attached B 25120-25146

    Voucher #25095, approved on June 9, was never received by Carol Dunevant so it should be voided as another voucher was issued.

    Next meeting scheduled for July 20, 2015 at 3:30PM

    Meeting adjourned at 4:45PM.

/by

Board Meeting/June 22, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on June 22, 2015 at 5:45PM.

All members were present.

The minutes of the June 9,2015 were approved with three spelling corrections.

NEW MEMBERS:

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

RESIGNED:

ERASED:

OLD/CURRENT BUSINESS:

I. President’s Report

  • President Frankenfeld has not heard back from Mike Lammers regarding a possible video that might include footage of the Blue Wisp Band.
  • The MPTF senior adult concerts have been settled. One musician per concert will be hired. Dates and locations have been settled and each location has agreed to cover the payroll costs.

II. CSO

  • There was a meeting today to discuss the All-Star Game and the performance of the National Anthem. The CSO is dealing with MLB. The CSO should simply announce that the performance is happening so it is on the schedule. Cancellation is always an option once a performance is announced.
  • Ted Nelson is now the ICSOM representative. President Frankenfeld will attend the conference to help with the transition.

III. CCO

  • The Faux Frenchmen will be performing as a part of the new CCO festival format. There was discussion about taping the performance. If the CCO joins the IMA they could tape up to 40 minutes and then use up to 10 minutes for promotional purposes.

NEW BUSINESS:

I. Email from Ray Hair

  • The email from AFM President Ray Hair titled “Just Sue Us” raises some concern. There are two issues to consider: 1) The obvious breach of contract and 2) Ten percent (10%) of the AFM budget goes to retain legal counsel. If the AFM goes to court there is a separate billing. Does this expenditure warrant this magnitude of action for a small number of players? There should be a clearer sense of direction for the IEB. President Frankenfeld suggested that perhaps it is time to start a dialogue between Locals and the IEB.

II. Email from Mike Emerson to Lynne Scott.

  • Lynne shared an email she received from Mike Emerson who currently resides in Florida. It appears that a company based in Nashville has brought in musicians labeled Good Company and they have been supplanting area musicians in the restaurant and bar jobs. The local musicians are not a part of a Local and Mike was wondering if she might have any suggestions. Lynne shared the email with Gary Winters who responded to Mike with some very practical suggestions. After reading all correspondence the Board concluded that Gary’s response was very succinct and accurate. The only other thought was for the area musicians, who were referenced by Mike, could join Local 655 in Miami. However, just because one would join the Local the union may not be able to help.

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B 25110-25119

Next meeting scheduled for July 6, 2015 at 3:30PM

Meeting adjourned at 6:47PM.

/by

Board Meeting/June 9, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on June 9, 2015 at 3:14PM.

All members were present.

The minutes of the May 26,2015 meeting were approved.

NEW MEMBERS:

Christian Schillinger   Bassoon   6/8/15

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

RESIGNED:

ERASED:

 

OLD/CURRENT BUSINESS:

I. President’s Report

  • President Frankenfeld is waiting to speak with Gary Slowik regarding an insurance option. Waiting until the Supreme Court announces its decision on the Affordable Care Act seems prudent.
  • The MPTF funds earmarked for retirement community concerts come to $200 per concert for two performers. Retirement communities might be able to provide funding to cover payroll taxes.
  • May Festival showed a very low turnout this year. A committee is being formed to search for a new Music Director.

 

II. CSO

  • Using CSO players to perform at the All-Star Game has been put on hold.
  • CCM and Downtown Cincinnati, Inc. have scheduled musicians to perform around the area for the game.
  • Microphones had been placed before a rehearsal for a commission for Dr. Maya Angelou without player approval. Management was told ‘no’ and mics were removed.
  • Income supplement checks were accidentally issued for individuals in 1-year temporary positions. The mistake was caught before any checks were cashed.
  • The CET video referenced in the last minutes would be for local broadcast only and there is also interest in using the Blue Wisp Band. The general thought is to request $125 per player plus expenses.

NEW BUSINESS:

I. The audit has begun.

II. The Ballet Orchestra has not been paid yet. Lengthy discussion resulted in the desire for the Board to investigate whether or not a fund can be created so that members can be paid within a reasonable time frame. There have been similar difficulties in the past with the players being paid in a timely fashion. Money from the Live Music Fund is sent to the CSO accounting office, which should increase efficiency and be cost effective. The check is then sent to the Local where Rhonda can process payroll.

 

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B 25092-25109

Next meeting scheduled for June 22, 2015 at 5:30PM to be followed by the Quarterly General Membership Meeting at 7:00PM.

Meeting adjourned at 4:50PM.

/by

Board Meeting/May 26, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on May 26, 2015 at 3:17PM.

All members were present.

The minutes of the May 12,2015 were approved with the correction of 2 typographical errors.

NEW MEMBERS:

Genevieve Guimond – Cello – joined 5/5/15

Scott Batchelder – Trumpet –joined 5/19/15

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

Charles Hanselman, 98, Honorary Member, passed away 5/31/2015.

RESIGNED:

Joshua Michal.  Resigned in good standing effective 3/1/2015.

ERASED:

 

OLD/CURRENT BUSINESS:

I. President’s Report

  • There is still an effort to make contact with two local retirement communities to use the funds received through the MPTF.
  • President Frankenfeld is working on strong guidelines for selecting substitutes within the orchestra as a result of the interest in the Principal Bass promising substitute privileges for students.
  • BAMSO rates have been raised.
  • President Frankenfeld is looking into options that might provide insurance benefits to uninsured members.
  • The Minnesota Orchestra played in Cuba last week. When they returned they announced an early settlement 2.5 years in advance.

 

II.CSO

  • Two forums were held to allow players to say how they wanted their one time cash disbursement allocated. Options were to have a portion of it in cash and a portion to their 401b or all of it invested in the 401b.
  • There was retirement recognition for Harold Byers and Sylvia Samis at the final concerts. As a result of Harold’s retirement Rachel Frankenfeld was voted to be his replacement based on prior audition results.
  • There is still discussion about having members of the orchestra playing the Star Spangled Banner at the All-Star Game this summer. Within the IMA there may be a special rate for the National Anthem and at present it appears that a brass quintet would perform.
  • Acoustician Paul Scarborough was asked about his plans. It appears that he is looking to reduce the size of Springer Auditorium.

NEW BUSINESS:

I. BAMSO was to record the Star Spangled Banner to be used for the Rozzi fireworks show for the 4th of July. President Frankenfeld indicated he would check with their General Manager, Laura Proffit, to see if it actually happened.

II. The Violin Society of America has a theft registry. Lou Lausche reported a violin taken from a family member and it appeared on the registry.

III. President Frankenfeld sought permission of the Board to attend to [I need the conference name for this Paul – thanks] Conference with Ted Nelson. It is in Philadelphia this year. He would go as a resource for Ted and assist in the transition.

IV.Trish Carmichael has agreed to do the newsletter,

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B 25082-25091

Next meeting scheduled for Monday, June 8, 2015 at 3PM

Meeting adjourned at 5:02PM.

/by

Board Meeting/May 12, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on May 12, 2015 at 3:20PM.

All members were present.

The minutes of the April 27,2015 were approved with the correction of two typographical errors.

NEW MEMBERS:

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

RESIGNED:

ERASED:

OLD/CURRENT BUSINESS:

I. President’s Report

  • President Frankenfeld reviewed the CSO contract negotiations and updating the Board on the items that had remained unsettled at the last Board meeting. The CSO players have voted and a majority was in favor of the new contract. President Frankenfeld asked if there was a motion to accept the contract. Don Hurd provided a motion that Local 1 of the AFM approve the contract as voted on by the CSO players. Mike Andres gave the second. The motion was passed unanimously.
  • President Frankenfeld asked Lynne Scott and Joe Gaudio for a report on the Jazz Hall of Fame. Lynne reported that from the audience standpoint it went very well although the sound system was not clear enough for a speaking voice. Clarity was an issue. Joe reported that from the stage side it felt like there was too much talking. Brian Hogg at NKU did a lot to make sure things went smoothly. Kay Casey did a great job in getting the event organized.
  • The AFM is taking on Warner Brothers for breach of contract. They have been outsourcing work to overseas.

 

II. CSO

  • There is a possibility of a CSO Brass Quintet performing at the NLB All-Star Game. The Reds organization cannot use the IMA agreement but should use the television rate since using the players would be in a secondary or tertiary role.
  • The New York Times article covering the story of the contract is only available online.
  • An acoustician has been selected for the Music Hall revitalization. Paul Scarborough with Acoustiks.

 

NEW BUSINESS:

I. The General Membership Quarterly meeting has been tentatively scheduled for June 22.

II. It has come to the attention of a Board member that it appears that a section principal in the CSO has been telling students and potential students that if they enroll to study with him at NKU he promises playing time as a sub with the CSO.

III. It was suggested by a Board member that there should be an article in the next Overtones reminding freelance musicians to let contractors know you are available for work. Players should be informed to call the office if they need names of contractors.

IV. BAMSO is redoing their fee structure. They are hoping to have it in place for the 2015 Memorial Day concert.

 

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B 25056-25081

Next meeting scheduled for Tuesday, May 26 at 3:00PM

Meeting adjourned at 4:32PM.

/by

Board Meeting/April 27, 2015

The regular meeting of the Board of Directors’ of the Cincinnati Musicians’ Association was called to order on April 27, 2015 at 4:00PM.

All members were present.

The minutes of the March 30,2015 were approved with two minor corrections: Dee Sparks is from St. Louis and the amount from MPTF should have read $700.

NEW MEMBERS:

Michael Ronstadt          cello, guitar, voice

GOOD STANDING FROM OTHER LOCALS

NEW MEMBERS:

REINSTATE:

DECEASED:

RESIGNED:

Christine Todey clarinet  4/2

Marie France-Lefebvre     4/22

Ellen Shertzer       cello     3/19

Scott Moore    vln/vla   4/7

Daniel Zehringer     trumpet   4/7

Julie Trevino  piano     3/31

ERASED:

 

 

OLD/CURRENT BUSINESS:

I. President’s Report

  • After nation wide voting the IMA has been approved.
  • Rhonda Gillum will be addressing the Board at the next meeting. There is a need to update printers as well as computers in her office.
  • US Bank has not gotten back to Paul with information regarding the feasibility of establishing direct deposit.
  • The Cincinnati Film Commission is seemingly interested in using players in the area. Paul will follow up as soon as possible.

 

II. Old Business

  • Joe Gaudio has received a contract for the Blue Wisp Big Band to perform at the Behringer-Crawford Museum in Devou Park. The date is July 9. It appears that the financial obligation will be met.
  • The Board examined debit card purchases since November. Expenses were approved.

 

III. CSO

  • Music Hall Revitalization is moving forward very quickly and there will be musician participation. CSO musicians Ted Nelson, Dwight Perry, Dick Jensen, and Jim Lambert will represent musician input and Ralph LaRocca will represent the stage crew. Actual mock-ups will be used rather than computer generated models. The budget is currently at $127 million.
  • Harold Byers and Sylvia Samis will retire at the end of this season. As a result of Harold Byers retiring Rachel Frankenfeld will have a 1week trial for a permanent position.
  • Contract negotiations have only 2 outstanding issues. 1) Louie wants the screens at auditions removed and 2) Louie wants each finalist to have a trial week. Musicians are not backing down on either issue. Thursday is the next meeting for negotiations and a ratification meeting is scheduled this Sunday (May 3) and voting should be completed by Thursday. The agreement is for 5 years which allows the orchestra to pay off its remaining bridge funding and takes the orchestra through the 125th The terms include a 1.5% increase in each year of the contract with an upfront cash payment to each member. The agreement is very progressive and would mean that management can begin lowering the draw on the endowment.

 

NEW BUSINESS:

NONE

 

THE FOLLOWING VOUCHERS WERE ORDERED PAID:

See attached B 25030-25055

 

Next meeting scheduled for May 12, 2015 at 3PM

Meeting adjourned at 5:25PM.

/by

Quarterly General Meeting/March 30, 2015

The quarterly meeting of the general membership of the Cincinnati Musicians’ Association was called to order on March 30, 2015 at 7:06PM.

13 members were present.

The minutes of the December 1,2014 quarterly meeting were approved as read. M/S was Nott/Gaudio

OLD/CURRENT BUSINESS:

I. President’s Report

  • President Frankenfeld reported that the contract negotiations for the CSO were underway. The process has been cordial and looks positive.
  • Renovation of Music Hall is moving forward very quickly. So far no musicians have been involved in the process. The Symphony will be moving to the Taft Theater during renovations. They are hoping for continued good corporate sponsorship. Member Martin James asked if there was a possibility of adding additional performances since the Taft is a smaller venue. President Frankenfeld responded that there has been no mention of that being a possibility.

II. Pension Update

  • The Pension Fund is totally governed by IRS rules. Since the fund was put into the orange zone, indicating steps should be taken to improve the security of the fund, it is approaching the $2 billion level. It was $2.3 billion at its highest level.
  • The trajectory appears to be upward although there have been more people accessing their pension than predicted. This is perhaps fallout from the 2008 financial crisis. It is moving toward achieving ‘green zone’ status. It has to be in the green zone for two years before the current multiplier can be changed. The investment strategy is becoming more aggressive.
  • Some organizations are beginning to offer younger players various 401b options.
  • If you are already collecting your pension there is no need to be concerned. Payments will continue.

NEW BUSINESS:

I. New members

  • There have been a good number of new members in 2014. President Frankenfeld did extend a personal invitation for tonight’s meeting. Unfortunately, few were able to attend.

II. Recording Industry

  • The recording industry has dropped to 30% of work dues collected. Symphonies now account for 65%. The remaining is made up through tours, etc.

Meeting was adjourned at 7:42PM and was followed by dinner. Dinner included Irish stew, two vegetarian entrees, home made soda bread and hot cross buns as well as homemade fudge and brownies.

/by