Great Lakes Chapter - NSAC - Board Meeting Minutes March 5th, 2010

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1 Great Lakes Chapter - NSAC - Board Meeting Minutes March 5th, 2010 In attendance: Dave Anderson Joe Diglio Andy Gusa Jim Hartmann Elizabeth Hawthorne Tyrone Lein Jason Les Ralph Miller Larry Romuald Michael Wehner Nate Wenzel The meeting was called to order by Libby Hawthorne at 8:00 a.m. Minutes: The October 15, 2009 minutes were reviewed and discussed. A change was recommended by Ralph to remove the last sentence under "Newsletter" regarding the need to post an article to the TCA. Ralph indicated that obtaining the article is the responsibility of the vice-president, and the statement should not be included under "Newsletter Report". The minutes were approved with the change. Treasurer's Report Ty spoke briefly regarding the treasurer's report as follows: - The timing of membership dues collection. - The increase in income received last year from the Cooperative accounting seminars. - The healthy ending fund balance amount. The Treasury report was approved by the Board. Silver Star Report Sue Schanski was not able to attend however a report was forwarded to all meeting participants for review, indicating that the Chapter has again met the requirements of obtaining Silver Star status. A discussion took place regarding the termination of the Silver Star program. Jim indicated that the Chapter should express its gratitude to Sue Schanski for the dedication she demonstrated in handling the Chapters affairs in the Silver Star program. The Board approved that recognition should be given at the Chapter meeting in June Education Committee Dave Anderson reported on several items as follows: - Dave indicated that he would again be interested in coordinating both accounting seminars in July. - Dave pointed out that not only are the seminars educational, they also provide useful networking opportunities. - Dave indicated that we are able to save on printing and preparation costs by creating the seminar workbooks in-house as oppose to outsourcing.

2 2010 Chapter Meeting - Time and Place Andy Gusa reported on several items as follows: - Discussions were held regarding entertainment and activities. The following were considered: - Dan the Game Show Host - Family Jeopardy - Dan the Game Show Host - Family Feud style or other - Comedian Danny B - Dueling Pianos - Hypnotist Dan the Game Show Host - Family Feud style was selected. - Andy provided information regarding the menu items for the meeting breaks as well as dinner for Thursday night. A discussion took place regarding the choices and the menu items for breaks and dinner were decided Chapter Meeting - Program Jason Les reported on several suggested topics including: - A&A update/international convergence(possibly Bob Beerup) - Tax update(possibly Mike McIntyre) - Economic update - Ag. lending, cash management - Risk management - I.T. controls - Pending HR issues Additional suggestions were provided by the Board including: - Social Media (possibly Sarah Johnson) - Health Care (Foster Swift, Collins & Smith) - Board Governance/Financial Statement Analysis (possibly Chris Peterson) - Presentation by a wine grower or Blackstar Farms Jason indicated that he was planning on contacting various prospective speakers soon and asking for their assistance on presenting on some of the above topics. Jason indicated that he would contact the National office to obtain information regarding CPE accreditation as well as last years meeting appraisals National Meeting - Time and Place Joe Diglio spoke on several items including: - A theme for the National Convention was discussed and 'Traverse City, a Grand place to be for NSAC' was selected. - Various ways were discussed on how to promote the 2011 conference in Orlando. - Discussions on ideas of how to distinguish chapter members at the National meeting in 2011 generated ideas such as wearing vests or name tags that would designate the person as being a Great Lakes Chapter member. - Various ideas were introduced for spousal activities. The number of choices was narrowed down and discussions took place on ways to approach members attending the Orlando meeting and ask which activities they would be most interested in. - Joe asked for someone to promote the 2011 meeting in Orlando. Ralph Miller volunteered. - Joe indicated that he selected Chuck Dallas to assist with the early and late bird drawings. - Joe asked for someone to volunteer to assist with sponsorship of the 2011 meeting. Lorrie Merker was mentioned as someone who could possibly assist.

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4 Membership Report Andy Jones was not able to attend however Jim Hartmann was able to provide the following: - We have added six new members since our last annual meeting - As of Jan. 31, 2010 the Great Lakes Chapter has 112 members. - As of Jan. 31, 2010, there were a total of 1,427 members in NSAC compared to 1,410 members one year ago. Larry Romuald indicated that he wanted to resign as membership mentor due to time constraints. Newsletter Report Ralph Miller indicated that he plans on sending a news letter in March He is currently planning on future news letters to go out in May, September and December or January The first regarding the annual chapter meeting will go out in March. National Director's Report Larry Romuald reported on several items as follows: - The Silver Star Competition was eliminated by the Board in August There was discussion to establish a program to replace the Silver Star however no program has been put into place. - Finances of the NSAC have continued to improve with the recovery of the investment markets. - The National Board took action to move the memberships investment funds from UBS Financial Services to Morgan Stanley Smith Barney. This move was to follow the investment manager at UBS who now is employed with Morgan Stanley. - The 2010 budget was reviewed at the National level and the Board will continue to follow the philosophy of President French and reinvest society resources in the membership. - Discussions by the National Program Committee evolved into changes being made to the annual meeting format to distribute tax day information over a two-day period. It was felt by the National Board that such a movement away from an intense one-day tax session would be for the membership's benefit. Tax will now be spread over Monday and Tuesday of the conference. - This year's conference will be in Orlando and the Great Lakes chapter will be hosting the 2011 meeting in Traverse City. The 2012 meeting will be in Las Vegas, and the Board is still soliciting bids for the 2013 meeting from Portland, Oregon, and Charleston South Carolina. - Membership at NSAC continues to remain stable. The Membership Committee is now chaired by Chuck Dallas. Board of Directors Larry indicated that he would like to request a one year extension of his position of National Director. Mike Wehner's term is to expire this year. Consideration will be given to Andy Gusa for replacement. Libby Hawthorne's term is to expire this year. Consideration will be given for re-election to a second term. Jim Hartmann's first term and Diane Patza's second term is to expire in The meeting adjourned at 12:05 p.m. Respectfully submitted, Jason Les

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