CAPITOL CHAPTER. Spring Message from the President. Chapter Directors

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1 CAPITOL CHAPTER Chapter Directors President David Chesnick USDA Cooperative Service 1400 Independence Ave Stop 3253 Washington, DC Fax Vice President Jane Hoffman National Cooperative Business Assoc New York Ave NW Ste 1100 Washington, DC Fax Secretary Robin Dierbeck Lerch Early & Brewer Chartered 3 Bethesda Metro Ctr, Ste 460 Bethesda, MD Fax rldierbeck@lerchearly.com Treasurer Sandy Deck Rappahannock Electric Co-op P. O. Box 7388 Fredericksburg, VA Fax sdeck@myrec.coop Director Tom Kandel Southern Maryland Electric Co-op P.O. Box 1937 Hughesville, MD Fax tom.kandel@smeco.coop Director Amy Galloway Culpeper Farmers Co-op, Inc. P. O. Box 2002 Culpeper, VA Fax aggalloway@cfcfarmhome.com Director Merle Harnish Cumberland Valley Cooperative P. O. Box 350 Shippensburg, PA Fax merleharnish101@earthlink.net Committee Chairs Membership Chair Mentor Program Coordinator Merle Harnish Cumberland Valley Cooperative P. O. Box 350 Shippensburg, PA Fax merleharnish101@earthlink.net Newsletter Editor Amy Galloway Culpeper Farmers Co-op, Inc. P. O. Box 2002 Culpeper, VA Fax aggalloway@cfcfarmhome.com Silver Star Chapter Coordinator Dave Cummings Old Dominion Electric Co-op P. O. Box 2310 Glen Allen, VA Fax dcummings@odec.com Education Chair Program Chair Steve Rasmussen Adams Electric Cooperative, Inc Biglerville Rd P.O. Box 1055 Gettysburg, PA Fax stever@adamsec.com National Office Advanced Management Concepts Dayton, Ohio Kim Fantaci, Exec. Director Diana Grabeman, Assoc. Exec Fax info@nsacoop.org National Director Phil Miller Southern States Co-op, Inc West Broad Street, Box Richmond, VA Fax phil.miller@sscoop.com Spring 2006 Message from the President I have enjoyed my time serving as president of your chapter. After all, it is each of you who I have worked with and met throughout my term that has made this chapter what it is. However, my term is just about up and we need to begin searching for a new president. Also terms are up for several board members this year. I would like to extend an offer for anyone who is interested in serving on the board to please let me know and to what capacity you are willing to serve. It is a very rewarding experience. With spring in full force, thoughts turn to the Annual Meeting. Well, at least it does for me. This year we are holding the meeting in Atlantic City from June 21 st to June 23 rd. The meeting is shaping up to be an excellent program. There were many fine folks on your board who helped me put this program together and I would like to personally thank them for all their help. Included in this news letter you will find a registration form and agenda for the meeting. I hope you are planning on attending and look forward to seeing all of you there. Thank you for all your support. David

2 Members in the News The Capitol Chapter would like to welcome the following new members (and previous members who have rejoined): Theresa Dawn Bowen Londonderry Retirement Community of Easton, Inc. Easton, MD Anthony Hessert ME Potato Growers, Inc. Presque Isle, ME Elaine F. McConkey Southern Maryland Electric Cooperative Hughesville, MD ********* If you have anything you would like to submit for the next Members in the News, please send it to Capitol Chapter Annual Meeting Atlantic City New Jersey June 21 23, 2006 SEE THE ATTACHED REGISTRATION INFORMATION!!!

3 National Director s Report I concluded my report to you in March by mentioning that the national Board of NSAC had reviewed and updated our strategic plan for this year. While there were not any major changes to the plan, the Board did reaffirm the goals: 1. Generate a positive operating income. While NSAC is not necessarily an income producing entity, we recognized the fact that we cannot continue to add value for our members without the resources to do so. In that vein, our programs need to be self-sufficient so we can keep annual dues at an affordable level. 2. Show a net gain in membership and achieve at least a 90% renewal rate. We seem to have somewhat halted the slide in losing membership over the past few years. While the components of this goal are stated at a minimum, we all recognize that they cannot be achieved without considerable effort including effort at the Chapter level. And, the goal is not just to add members. The goal is to continue to add value to being a member then the members will come! 3. Enhance and expand educational programs. Dan Groscost and the Education Committee are doing just that with the Cooperative Learning Network Programs. Remember, more than anything else, NSAC is an educational organization. 4. Provide support and guidelines to enhance chapter effectiveness. This includes the Silver Star program. The Capitol Chapter has always been recognized as a leading chapter. In recent years, this has been true in no small part to the oversight that Dave Cummings has given to the Silver Star program. We need to find someone who will step in and fill Dave s shoes going forward. 5. Identify opportunities for collaboration with other cooperative groups. We need to find other groups like the Electric Co-op Chapter to partner with, with members like Dave Cummings and Russ Wasson who see the value that we can add to membership. 6. Identify and respond to relevant accounting and tax issues on a timely basis. The times that NSAC has stood up to the IRS on the behalf of co-ops are much too numerable to mention. The A&A Committee, behind the leadership of individuals like Bob Beerup, Greg Taylor, Russ Wasson, Skip Wagoner and others are now making co-ops known to the FASB. We made significant progress towards these goals in 2005, and appear to be on track for more progress in A good example of this can be seen in the offerings from NSAC s Cooperative Learning Network. These are group-live teleconference opportunities which qualify for CPE credit. The following sessions have already taken place and have been well attended: March 7 Electric Co-op Taxation Russ Wasson March 30 Budgeting Phil Miller and Chris Headley April 27 Introduction to Co-ops Don Frederick May 24 Depreciation Dwayne Campbell The following sessions are also being offered later this year: July 20 Internal Controls Clay Worden Sept. 20 Internal Audit Tommie Singleton Oct. 12 Risk management Jeff Walker I hope you are marking your calendars to attend the 2006 NSAC Annual Convention & Tax Seminar to be held August 7-9 in Nashville. The meeting will be held at the Hilton hotel in downtown Nashville, which is within walking distance to the Ryman Auditorium (can you say Grand Ole Opry?). Also close by are the Wild Horse Saloon and many great restaurants. The convention has been reasonably priced to attract more attendees, as are the hotel accommodations. The program has attracted superior speakers with good quality, relevant topics. Many great activities have been planned to attract families. More to come!!! I plan to be there and will provide you with a full report upon returning. Better yet, see you there!!! Your National Director Phil Miller (804) phil.miller@sscoop.com

4 TREASURER S REPORT BUDGET Total Total Total FY To Date Y/E 6/30/06 1st Qtr. 2nd Qtr. 3rd Qtr. April 4/30/2006 RECEIPTS: Member dues 96 $10 $ $ $ $ 1, $ $ 2, Transfer from the Northeast Chapter 4, , , , EVENTS: Fall Technical Session: Registration (estimate 25 $50) $1, $ - $ 1, $ 1, Hotel bill for meeting room and lunch (850.00) - (1,017.29) - - (1,017.29) Gift certificates for speakers ( $50) ( ) - (350.00) - - (350.00) Thank you cards and name tags (50.00) - (67.04) - - (67.04) (134.33) - - (134.33) Annual Meeting & Technical Session: Registration (estimate 20 $175) 3, Buffet dinner (1,525.00) Snacks during 2 breaks (575.00) Gift certificates for speakers $50) ( ) Thank you cards, folders and name tents (50.00) , Miscellaneous costs during the year (300.00) INCREASE/(DECREASE) IN FUNDS $1, $ $ $ 5, $ $ 6, $ - BEGINNING CASH BALANCE 4, , , , $ 4, $ - ENDING CASH BALANCE $5, $ 5, $10, $11, $11, Date prepared: May 6, 2006 Prepared by: Sandy Deck, Treasurer 2006 Annual Convention & Tax Seminar

5 Plan to visit the Country Music Capital for a great meeting!! Visit for details. The brochure is downloadable by clicking You will be receiving a hard copy in the mail if you haven t already. However, you do not have to wait to receive the preliminary program to register!! You can do so on-line by clicking the following link: May 16, 2006 Dear NSAC Capitol Chapter Members,

6 You are invited to the NSAC Capitol Chapter Annual Meeting, scheduled for Wednesday June 21 though Friday June 23, This year we are holding the meeting at the Trump Plaza Hotel and Casino in Atlantic City, New Jersey. Since the merger with the Northeast Chapter, this location is convenient to all members due to its central location and easy access from any direction. We have excellent speakers for this session and attendees will earn Continuing Professional Education (CPE) credits. Forms will be provided at the meeting. A tentative agenda, registration form, and directions to the hotel are attached. The registration deadline for the meeting is Wednesday, June 7, We have reserved a block of rooms at the Trump Plaza Hotel and Casino for this meeting. If you plan to spend the night, you will be responsible for making your own room reservations. The hotel room rate is $ (plus tax). Reservations can be made using the Trump Plaza Hotel and Casino reservation number Please identify yourself as a member of The National Society of Accountants for Cooperatives. Business casual dress is appropriate. A continental breakfast will be provided. We look forward to seeing you. Sincerely, David Chesnick Capitol Chapter President

7 2006 NSAC CAPITOL CHAPTER ANNUAL MEETING Trump Plaza Hotel and Casino Wednesday June 21-Friday June 23 Agenda Wednesday, June 21, :00 pm- 8:00 pm President s reception Fortune s Room Thursday, June 22, :30 a.m. Continental Breakfast Chelsea Room 8:15 a.m. Registration Chelsea Room 8:30 a.m. Welcome 8:40 a.m. Policy update (Don Frederick) 9:30 a.m. Budgeting (Phil Miller & Chris Headley) 10:20 a.m. Break (refreshments) 10:40 a.m. International Convergence (Mary Griffin) 11:30 a.m. Accounting Update (Russ Wasson) 12:20 p.m. Adjourn

8 Friday, June 23, :00 a.m. Continental Breakfast Chelsea Room 9:00 a.m. 401K retirement plans (Stuart E. Teach, CFA) 9:50 a.m. NCB Top 100 presentation (Richard Dines) 10:40 a.m. Break (refreshments) 11:00 a.m. Walk the Walk / a Talk on Walking (Vicki Miller) 11:50 a.m. Announcements 12:10 p.m. Adjourn 12:10 p.m. Chapter Business Meeting (members only) 12:30 p.m. Board Meeting

9 NSAC CAPITOL CHAPTER ANNUAL MEETING TRUMP PLAZA HOTEL AND CASINO WEDNESDAY JUNE 21-FRIDAY JUNE 23 REGISTRATION FORM REGISTRATION FEES: $ Make Checks Payable to: NSAC CAPITOL CHAPTER Registration Deadline: June 7 th, 2006 Please check if attending President s Reception on Wednesday evening ORGANIZATION: LIST NAMES AS THEY SHOULD APPEAR ON BADGE: REGISTRATION $ TOTAL REMITTANCE: $ PLEASE COMPLETE AND RETURN TO: DAVID CHESNICK 3347 BEECHTREE LN. FALLS CHURCH, VA FAX: (202)