California Municipal Treasurers Association

California Municipal Treasurers Association CMTA Board of Directors Meeting Friday, January 21, 2011 9:00 a.m. 10:00 a.m. Via Conference Call Dial-in: (888) 394-8197 Passcode: 353704# Agenda Call to Order Approval of the Agenda Roll Call President President Elect Vice President Secretary Treasurer Past President Parliamentarian Division 1 Division 2 Division 3 Division 4 Division 5 Division 6 Division 7 Division 8 Division 9 Committee Chairs, Staff and Guests: Certification Chair Commercial Associate Liaison Education Chair General Conference Co-Chair General Conference Co-Chair Legislative Chair Liaison Bookkeeper Mary Morris Nathan Hernandez Gina Tharani Danielle Navas Michelle Durgy Kelley Williams Shaun Farrell Rebecca Shobe Mike Whitehead Cass Cook Marissa Duran Richard Loomis Sue Clive Shari Jackson Deborah Sousa Pamela Arends-King Donna Mullally Bill Blackwill Mary Asturias Christine Vuletich Vikki Beatley Tim Lilligren Debbie Welch Tony Willert Consent Calendar 1. Minutes of October 8 & 9, 2010

CMTA Board Agenda January 21, 2011 Page 02 Action Items 1. Consideration of Strategic Planning Sessions (Mary Morris) a. CMTA Certification Investment Program (Shaun Farrell) 2. Conference Planning Report - (Christine Vuletich/Vikki Beatley) a. Sponsors/Exhibitors Report (Debbie Welch) b. Baseball Tickets S.D. Padres v. Phillies (Debbie Welch) c. Future Joint CMTA/CSMFO Conference Update 3. Membership Analysis and Dues Structure (Debbie Welch) 4. Proposed Bylaws Revisions (Kelley Williams) 5. Travel Policy (Gina Tharani) 6. San Mateo Compliant (Michelle Durgy) 7. Association Management Report a. Financial Reports b. Proposed Accounts Payable Process (Debbie Welch and Tony Willert) c. Bank Update (Tony Willert) d. 2011-2012 Proposed Budget (Debbie Welch ands Tony Willert) e. SMA Association Management Agreement (Debbie Welch) 8. CMTA Marketing: LOCC Ad in Directory (Debbie Welch) Information Items Committee & Division Reports Website Traffic Report * Green font denotes attachment Information will be posted on cmta.org under About CMTA Agenda, Reports and Minutes page. Page 2

California Municipal Treasurers Association CMTA Board of Directors Meeting Friday, October 8, 2010 1:00 p.m. 5:00 p.m. Omni Hotel, San Diego, CA Minutes Call to Order President Morris called the regular meeting of the Board of Directors to order at 1:05 p.m. She welcomed Board Members and staff which was followed by the determination of the presence of a quorum by Shaun Farrell. Approval of the Agenda The Board approved the agenda. Roll Call present were: x President Mary Morris x President Elect Nathan Hernandez x Vice President Gina Tharani x Secretary Danielle Navas Treasurer Michelle Durgy x Past President Kelley Williams x Division 1 Rebecca Shobe Division 2 Mike Whitehead Division 3 Cass Cook Division 4 Marissa Duran Division 5 Richard Loomis Division 6 Sue Clive x Division 7 Shari Jackson Division 8 Deborah Sousa x Division 9 Pamela Arends King x Parliamentarian without vote Shaun Farrell Committee Chairs, Staff and Guests: x Certification Chair Donna Mullally x Commercial Associate Liaison Bill Blackwill x Education Chair Mary Asturias X Education Committee Member Tracey Lovely x General Conference Co Chair Christine Vuletich x General Conference Co Chair Vikki Beatley x Legislative Chair Tim Lilligren x CMTA Liaison Debbie Welch

CMTA Board Minutes October 8, 2010 Page 2 Consent Calendar Action: On motion by Past President Williams, the Board received and filed all items on the consent calendar. 1. July 7, 2010 Board of Directors Minutes 2. Certificate of PCI Compliance Payment Card Industry Data Security Standard and Identity Theft Prevention Policy Action Items Financial Report Liaison Welch reviewed the Association s financial status and the Board took the following actions. Action: On motion by Vice President Tharani, the Board approved the financial reports of August 31, 2010. Action: For future financial reports, income from cities, counties and special districts will be consolidated under the active members dues. Bylaws Dues Structure Action: The Board agendized the dues fee structure for the next Board meeting in January. Bylaws will be reviewed for consideration of proposed amendments regarding restructuring fee levels of government members for voting purposes. Action: Consider bylaws amendment regarding sustaining members to rename as active alumni. Active alumni will include retired public and commercial individuals. Conference Scholarship Action: The Board named the new conference scholarship fund in honor of Vincent Amado and directed staff to send a letter to Mr. Amado s wife informing her of CMTA s recognition of Vince. Annual Audit: by Richard & Company CPA Liaison Welch reported the recommendations in the management letter that the scholarship funds will be reclassified as restricted funds. Action: On motion by Past President Williams, the Board approved the fiscal year end March 31, 2010 audit and directed staff to post on the website the Association s statements of financial position. Membership Report Action: The Board directed staff to send division chairs the list of division members. Chairs will assist in the maintenance of the listserv files. Roster Commercial Associate Liaison Blackwell reported that he inquired with a few commercial associates regarding the online membership roster. He noted it was important that CMTA members have access to a usable printable roster from the website. He reported that he had difficulty using the online roster and was directed to contact Justin in IT. Action: The Board will consider publishing a 2011 2012 membership roster.

CMTA Board Minutes October 8, 2010 Page 3 Nominations Committee Past President William s chairs the committee in accordance with the bylaws. Williams reported that the 2011 Nomination Committee was composed of Board member Danielle Navas and member Henry Valasco, City of El Monte. Conference Arrangements General Conference Co Chair Beatley reported that Catherine Walline of the California Treasurer s Office won the free conference registration pass to the 2011 annual conference. The Board reviewed the conference evaluation results and Beatley explained that the responses were few because of a computer glitch at the office. 2011 Conference Planning Report Beatley reported topic recommendations under consideration were cash management, investing and pension reform. Contact the Co Chairs with any topic or speaker ideas. The conference theme will be The Road to Reinvention concept World Fair which was created by Susan Munson, Main Street Capital Advisors. CMTA also hopes to incorporate a baseball game and to utilize the banquet budget for this event between the hotel and Petco Park. The Phillies will play the Padres on Thursday evening. Swag for the event could include baseball hats or jerseys. How to register for the game will be determined once the costs are known. Staff will work on the details and report at the next meeting. Many of the costs associated with the usual banquet could be redirected towards the baseball event, such as the hiring of a D.J. Other organized events under consideration included trips to the USS Midway Museum, San Diego Zoo, Sea World. New to the Trade Show next year will be the Non Exhibitors/Exhibitors sponsorship levels that were modified to silver, gold and platinum levels and include designated funds for the Vincent Amado scholarship fund. The Early Bird registration incentive fee will remain $305. However, if you register by the early bird date you will be automatically entered to win a stay at the Omni Hotel. The 2011 conference will offer open enrollment to non members of any public entity that manages treasury. The additional attendees may help CMTA meet the room block at the Omni Hotel. Under consideration were Non members becoming a CMTA member for the 2011 year. The Food and beverage budget with the Omni Hotel was contracted at $60,000. The Board installation ceremony will be featured at the banquet on Thursday evening. Rebecca Shobe, San Diego County Treasurer and Tax Collector will inquire whether CMTA can store conference materials for the President s Raffle at the county office. Mia Corral, Chandler Asset Managers also offered storage space. Perpetual Commercial Associates and Speaker gifts The thank you medallion used for the tradeshow sponsors will be the thank you gift for speaker as well.

CMTA Board Minutes October 8, 2010 Page 4 The Committee Co Chairs recommended the services of Rita Corbinook, Conference Resource Center LLC and Smith Moore and Associates to manage the 2011 annual conference in San Diego. CRC Conference Agreement Action: On motion by Shari Jackson the Board approved the contract for CRC LLC services for the 2011 CMTA annual conference. The agreement will be signed by President Morris. SMA Conference Addendum Action: The Board agendized the Smith Moore addendum for conference services for the next Board meeting in January. Smith Moore & Associates Contract Action: On motion by President Elect Hernandez, the Board approved extending the current SMA agreement through March 31, 2011 and will continue the payment of the monthly retainer. The Board will evaluate the renewal of the SMA agreement for the next Board meeting in January. Marketing The Board approved the recommendation to redirect the marketing monies for the quarterly advertisement in Western Magazine to the online version. Staff will change the ads to feature the education workshops and conference events along with CMTA member benefits. CMTA will outreach conference and member benefits to as many associations that are interested in our services. The Board discussed outreach to: CATTC County Association of Treasurers and Tax Collectors LAFCO Local Agency Formation Commission CSDA California Special District Association CAJAPA California Association of Joint Powers Authority GIOA Government Investment Officers Association Action: Invite GIOA President to the CMTA annual conference. Bill Blackwell can help with the contact. Past President Pin President Morris presented Past President Kelley Williams with the new CMTA Past President s pin. Joint CMTA & CSMFO Conference President Morris reported that she was in contact with Thomas Phil and discussed the graduated approach leading up to a joint conference in 2014. She will follow up with Mr. Phil to inquire whether CSMFO is interested in the concept. Next Conference Committee and Board Meetings The Board discussed various options for meetings. Many members liked hosting conference calls so they could participate. Action: Staff will look into Go To Meetings for future conference calls. Newsletter Report Chair Hernandez has been working with Ashley in the CMTA office on the online Dollars & Sense. He urged members to solicit and submit articles for the quarterly edition of Dollars $ Sense. He has

CMTA Board Minutes October 8, 2010 Page 5 been looking for better ways to solicit articles. Suggested articles of interest by Board members included bankruptcies, TOT collection, APT investment policy certification and FINs. Action: Include a survey link in the newsletter on what kind of articles members are interested in reading about? Education Report Chair Asturias reported the attendance of the Essentials Workshop was low. The Committee tried something different, attendees were split into smaller groups and rotated to different meeting rooms for topics rather than staying in the same room for a couple of days. Speaker JoAnne Speers from Institute of Local Government was an excellent speaker and very interesting. Evaluation forms on card stock worked but were too small. The list of attendees was sent to the Certification Chair to track hours for CCMT and CPE credit. Next Meeting The January meeting will be in Irvine. Liaison Welch will poll the Board for the best date and she will look for public agency facility to host the group. Division Meetings Action: Division Chairs were encouraged to contact IT manager Justin to distribute the luncheon meetings to other divisions. Having no further business, the Board adjourned the meeting at 4:20 p.m.

California Municipal Treasurers Association CMTA Board of Directors Meeting Saturday, October 9, 2010 8:00 a.m. 10:30 a.m. Omni Hotel, San Diego, CA Minutes Call to Order President Morris called the regular meeting of the Board of Directors to order at 8:20 a.m. She welcomed Board Members and staff. Shaun Farrell determined that there was no presence of a quorum to take up matters of action. Roll Call present were: x President Mary Morris x President Elect Nathan Hernandez x Vice President Gina Tharani x Secretary Danielle Navas Treasurer Michelle Durgy x Past President Kelley Williams Division 1 Rebecca Shobe Division 2 Mike Whitehead Division 3 Cass Cook Division 4 Marissa Duran Division 5 Richard Loomis Division 6 Sue Clive Division 7 Shari Jackson Division 8 Deborah Sousa x Division 9 Pamela Arends King x Parliamentarian without vote Shaun Farrell Committee Chairs, Staff and Guests: x Certification Chair Donna Mullally Commercial Associate Liaison Bill Blackwill Education Chair Mary Asturias Education Committee Member Tracey Lovely General Conference Co Chair Christine Vuletich x General Conference Co Chair Vikki Beatley Legislative Chair Tim Lilligren x CMTA Liaison Debbie Welch Reports The Board resumed business from yesterday and continued reports from the chairs.

CMTA Board Minutes October 9, 2010 Page 2 Certification Chair Mullally noted, that having no quorum, the CCMT certification report will be deferred until the January meeting. Liaison Liaison Welch shared with the Board how privileged Smith Moore & Associates was to manage CMTA. It s a great association and the staff was grateful and thanked everyone for helping us understand the Association s operations and step through the first year. Program Planning Chair Beatley reported on plans from yesterday s conference program meeting. CMTA decided not to hire a photographer for the upcoming conference. Schedule of Events (tentative) Wednesday general session Thursday morning general session Thursday afternoon concurrent session Friday roundup general session CMTA will invite Ted Gaebler, City Manager, City of Rancho Cordova and Author of Reinventing Government as a keynote speaker. CMTA Investment Certification Program Shaun Farrell raised the question whether CMTA should consider offering a certification program. The Board will continue to explore the development of a certification program. Consider endorsements by CDIAC and APT for participation on the steering committee. Shaun Farrell and Mary Morris will contact CDIAC to inquire about their level of interest in the concept. Next Meeting The Board will plan a face to face meeting in southern California that doesn t conflict with the Advanced Workshop. Orange County Tustin Library is an option as the location. President Morris will review her calendar and Liaison Welch will poll Board members. Having no further business, the Board adjourned the meeting at 9:10 a.m.

CMTA 2011 Conference Sponsors Company Contact Date Paid Sponsor Type Non Exhibitor Sponsorship Cost Bank of America Merril Lynch Angela Strecker Silver $3,000 UBS Financial Services, Inc. Jodi Pieczynski 11/18/2010 CK#5252 X $2,500 Cutwater Asset Management Gay Eichhoff 11/29/2010 CK#017264 Silver $3,000 Morgan Keegan & Company Katie Devine 11/29/2010 CK#542042 Silver $3,000 Chandler Asset Management Mia Corral 12/7/2010 ck#14331 Gold $4,000 NBS Geralina Reyes 12/8/2010 CK#20178 Silver $3,000 Union Bank Martha Bluemel ck# 1054700 12/20/2010 Silver $3,000 Main Street Susan Munson Gold $4,000 BNY Mellon Jose Matamoros Silver $3,000 As of January 19, 2011 TOTAL: $28,500

CSMFO BOARD REPORT DATE: November 19, 2010 FROM: Thomas Fil, Past President SUBJECT: Joint Conference with CMTA The CSMFO Board approved the recommendations from the Nov. 2010 doc at their Dec. 8 meeting. Propose 75/25 split of revenue. At the Strategic Planning Session in 2009, one of the goals the Board came away with for the year was strategic partnerships working with other like organizations to maximize our efficiencies and effectiveness. As a number of CSMFO chapters currently hold joint meetings with CMTA districts, it seemed a logical next step to hold a joint annual conference. The road getting to this point has been a difficult one, with each entity attempting to ensure its identities remain intact. After several conversations with influential CMTA members, I can say with confidence that the recommendation you re about to read is one that CMTA would also approve. Please read the following recommendation. I feel strongly that the CSMFO leadership take some time to digest this prior to Board action, so I am asking you to forward your comments to either myself, tfil@belmont.gov, or Melissa Dixon, melissa.dixon@staff.csmfo.org. This item will be placed on the agenda at the December 8 meeting as an action item. Recommendation In order to ensure all involved are comfortable with the collaboration, we should approach a joint conference in steps. 1. In 2012, CSMFO should be responsible for CMTA s pre-conference session, and vice versa. This will begin to give us a presence at each other s events. 2. In 2013, CSMFO should invite representatives from CMTA to join the host and program committees. CMTA will do the same. This will allow each organization to learn the culture of the other. 3. In 2014, have a joint conference. CMTA is willing to hold two meetings in the south so that CSMFO may keep its rotation. They are also willing to keep CSMFO s approximate dates for the event (theirs is typically held in April).

Written Reports for Action and Information Items Page 2 While the details of a joint event will need to be determined, it is premature to go down that road at this point. Once we have Board approval on this concept, CMTA and CSMFO staff will be tasked with developing the how to bring back to the Board.

CMTA Membership Report (as of 12/22/2010) Dues Levels Active Members Organizations: 296 Individuals: 618 Government Members Organizations: 13 Individuals: 35 Special District Members Organizations: 83 Individuals: 27 Commercial Associates: 101 Sustaining Members: 10 Active Members: 1 63 $155 2 172 $155 3 47 $195 4 11 $235 5 3 $275 6 1 $315 Government Organizations: 1 2 $155 2 6 $155 3 5 $195 Special Districts: 1 40 $155 2 40 $155 3 6 $195 4 2 $235 5 1 $275 $205 per person $ 30 per person Public Agencies 392 Public Agencies individual members 680 Average 1.7 people per agency Total entities 503 Total individual members 791

CALIFORNIA MUNICIPAL TREASURERS ASSOCIATION Serving California Since 1959 Date: January 12, 2011 To: From: Subject: CMTA Executive Board of Directors Kelley Williams, CCMT, CMTA Immediate Past President CMTA Bylaw revision/change suggestions As Immediate Past President, I would like to propose a few revisions/changes to our Bylaws to be discussed at the January 21 st meeting. 1. Article IV- Membership, Section 5. Sustaining Members (change to CMTA Alumni Members). This change would also affect Article V Dues Section 2. All Other Members (change Sustaining Members to CMTA Alumni Members). 2. Article VIII Meetings, Section 3. Division (change to read: The goal of each division is to hold meetings four times a year.) 3. Article X Finances, Section 1. Fiscal Year (change Fiscal year to July 1 June 30.) Section 2. Bonding (Eliminate). 4. After reviewing the dues, I would like to suggest a one time fee to become a lifetime CMTA Alumni Member. Please feel free to contact me with comments and suggestions. Respectfully Submitted, Kelley Williams, CCMT CMTA Immediate Past President (626)574-5465 kwilliams@ci.arcadia.ca.us

CMTA Sustaining Members First Name Last Name City State Zip Code Work Email Patricia Beal Elk Grove CA 95624 pat.beal@comcast.net Carole Gierhart Barefoot Bay FL 32976 cgierhart@earthlink.net Ruth Hopp El Segundo CA 90245 Patrick King Fresno CA 93744 kingcrain@sbcglobal.net Peggie Linville Redding CA 96001 lpeggi@clearwire.net Debbie Michel Sacramento CA 95816 debbie_michel@hotmail.com Randy Rassi La Quinta CA 92253 rrassi@verizon.net L. Samsell Stockton CA 95207 lpatrick1llc@aol.com Mary Turner Eudora AR 71640 turnerm@hughes.net Barbara Underwood San Diego CA 92120 blunderwood@cox.net

ANONYMOUS PERSONNEL TRAVEL POLICY Approved by the Board January 24, 2004 POLICY: ANONYMOUS will pay for the cost of authorized staff travel to a conference, committee meeting, or other ANONYMOUS-related meeting if the travel has been budgeted, scheduled, and authorized by the Executive Director. PROCEDURES: A. Covered Expenses. No per diem limit is set; however, staff is expected to use prudence and good judgment in selecting the mode of travel, accommodations, meals, fees, and incidentals. Otherwise, costs deemed excessive by the Executive Director will not be paid by ANONYMOUS. Travel expenses for spouses or guests of staff members will not be reimbursed. Authorized travel expenses include those costs incurred in the use of common carriers, e.g., plane, bus, train, etc., from the point of origin to destination and return, as well as rental car fees (where necessary), bus, or taxi fares at destination. Payment for the use of personal auto will be at the mileage rate established by the IRS. ANONYMOUS policy is to use the lowest reasonably available discount fare for transportation. Full coach fare will be the maximum allowed for reimbursement when discounted airfares are not available. Staff is not expected to extend a trip to obtain a fare reduction, but may do so when it is cost effective. However, if travel time is extended in order to obtain a discount fare (i.e., a Saturday night stay) the resulting subsistence costs will be reimbursed only if the total trip expense is less than the cost would have been without the extension. Examples of allowable costs include airfare, mileage, hotel, meals, transportation to and from hotel and airport, work-related telephone calls and Faxes, tips, and parking. If there are variations in routing or mode of travel for the convenience of the traveler, only those costs attributable to ANONYMOUS s business will be paid. For example, if a personal auto is used for a long trip, ANONYMOUS payment will not exceed the reimbursable air fare between the two points. Examples of costs that are not allowable are costs in excess full coach fare, rental car if the hotel provides a shuttle service or if a taxi between the hotel and airport would be less than a rental car and parking, personal entertainment, alcoholic beverages, or any one meal in excess of $50, except where specifically required and/or authorized. B. Reimbursement of Expenses. Within fifteen working days of completion of the trip, a travel request form must be completed, signed, and submitted to the ANONYMOUS Executive Director. Copies of all receipts must be attached.

ANONYMOUS SPEAKERS EXPENSE POLICY Adopted by the Board January 24, 2004 Policy: It is ANONYMOUS s policy to arrange for speakers for conferences and seminars to result in a varied, informative, and interesting agenda that will provide conference participants with information and insight of value and importance on issues and matters relative to ANONYMOUS s mission. At the same time programs should be planned in such a way that the public funds that support ANONYMOUS are wisely, efficiently and economically spent to provide the best possible programs at the least possible cost. Procedures: A. Representatives from the following should be expected to participate in conference and seminar programs without charge or expense to the Association: member agencies and associate members; consultants, suppliers and other commercial enterprises whose organizations benefit from conference exposure; state and federal agencies that provide travel expenses and/or per diem allowances; and related associations with which ANONYMOUS might reciprocally exchange conference participation, with each organization paying for its staff s expenses. B. Reasonable expenses for travel, meals and lodging may be reimbursed for representatives of other local governments, news media and other specialized areas if reimbursement is not otherwise available. Every effort should be made to minimize such expenditures, with ANONYMOUS staff making the travel reservations in accordance with the ANONYMOUS Staff Travel Policy. Expenses for speakers not addressed in Section A (above) may be paid by ANONYMOUS for the day they are scheduled to speak, include an overnight stay. Such speakers should be lodged at the Conference hotel, and they should not be expected to pay for a meal at which they are speaking. However, should they choose to stay longer, the speakers are expected to pay conference registration fees and expenses for the additional days. Requests for reimbursement must be on the ANONYMOUS Travel Reimbursement Request form with receipts attached. Any exceptions to this section must be made in advance of travel by the Executive Director and the President. C. ANONYMOUS does not pay honoraria, consulting fees, or other speaking fees, except by a vote of approval by the Board of Directors for a special case. D. An advance commitment for expense reimbursement must be secured from the ANONYMOUS Executive Director prior to committing to a speaker.

3:38 PM 01/19/11 Accrual Basis CMTA Profit & Loss Budget vs. Actual April through December 2010 Apr - Dec 10 Budget $ Over Budget % of Budget Income 3010000 Membership dues 3010100 Dues (active) 64,580.00 53,260.00 11,320.00 121.25% 3010200 Dues (commercial) 19,650.00 25,000.00-5,350.00 78.6% 3010300 Dues (government associate) 0.00 2,175.00-2,175.00 0.0% 3010400 Dues (sustaining) 390.00 380.00 10.00 102.63% 3010500 Dues (special districts) 0.00 13,930.00-13,930.00 0.0% 3010000 Membership dues - Other 0.00 Total 3010000 Membership dues 84,620.00 94,745.00-10,125.00 89.31% 3500000 Program services 3510000 Certification 310.00 505.00-195.00 61.39% 3520000 Education 21,015.00 40,000.00-18,985.00 52.54% 3530000 Publications 3530100 Handbook 191.00 100.00 91.00 191.0% 3530200 Roster 0.00 7,500.00-7,500.00 0.0% 3530300 Job Ads 750.00 3540000 Newsletter 10,500.00 7,500.00 3,000.00 140.0% 3540100 Website 0.00 1,000.00-1,000.00 0.0% 3530000 Publications - Other 0.00 Total 3530000 Publications 11,441.00 16,100.00-4,659.00 71.06% 3550000 Scholarship 3550100 Woodward memorial 1,080.00 1,500.00-420.00 72.0% 3550200 Vincent Amado Scholarship 0.00 Total 3550000 Scholarship 1,080.00 1,500.00-420.00 72.0% 3560000 Annual Conference 3560100 Registrations 3560110 Active Members 0.00 3560120 Commercial Associates 0.00 3560100 Registrations - Other 57,870.00 65,450.00-7,580.00 88.42% Total 3560100 Registrations 57,870.00 00 65,450.00 00-7,580.00 00 88.42% 3560200 Sponsors 3560210 Exhibitors 38,000.00 44,000.00-6,000.00 86.36% 3560220 Non-Exhibitors 13,600.00 5,550.00 8,050.00 245.05% 3560200 Sponsors - Other 0.00 Total 3560200 Sponsors 51,600.00 49,550.00 2,050.00 104.14% 3560000 Annual Conference - Other 0.00 Total 3560000 Annual Conference 109,470.00 115,000.00-5,530.00 95.19% Total 3500000 Program services 143,316.00 173,105.00-29,789.00 82.79% 3600000 Division Income 10,997.16 1,600.00 9,397.16 687.32% Page 1 of 5

3:38 PM 01/19/11 Accrual Basis CMTA Profit & Loss Budget vs. Actual April through December 2010 Apr - Dec 10 Budget $ Over Budget % of Budget 3980000 Interest t 175.95 625.00-449.05 28.15% 3999999 Other 0.00 Total Income 239,109.11 270,075.00-30,965.89 88.53% Gross Profit 239,109.11 270,075.00-30,965.89 88.53% Expense 5010000 Management and general 5010100 Audit 6,900.00 7,500.00-600.00 92.0% 5010200 Board meetings 16,165.66 17,000.00-834.34 95.09% 5010400 Contract Services 5010420 Website update and maintenance 3,437.50 6,000.00-2,562.50 57.29% 5010430 Contract Services 29,999.97 40,000.00-10,000.03 75.0% Total 5010400 Contract Services 33,437.47 46,000.00-12,562.53 72.69% 5010500 Depreciation 169.03 5010600 Insurance 2,058.00 2,500.00-442.00 82.32% 5010800 Taxes 742.11 1,250.00-507.89 59.37% 5010900 Postage 947.71 1,500.00-552.29 63.18% 5011100 Public relations 30.0000 5011200 Telecommunications 5011210 Internet services 55.94 5011220 Telephone 778.19 5011200 Telecommunications - Other 0.00 500.00-500.00 0.0% Total 5011200 Telecommunications 834.13 500.00 334.13 166.83% 5011300 Supplies 488.06 500.00-11.94 97.61% 5011310 Records Retention 84.40 150.00-65.60 56.27% 5011400 Miscellaneous 13.71 500.00-486.29 2.74% 5011410 President's fund 176.00 2,500.00-2,324.00 7.04% 5011500 Bank and Merchant Fees 5011510 Bank Fees 350.47 600.00-249.53 58.41% 5011520 Merchant Fees 2,618.01 4,000.00-1,381.99 65.45% Total 5011500 Bank and Merchant Fees 2,968.48 4,600.00-1,631.52 64.53% Total 5010000 Management and general 65,014.76 84,500.00-19,485.24 76.94% 5050000 Program services expenses 5051000 Certification 522.00 505.00 17.00 103.37% 5053000 Education 17,692.70 40,000.00-22,307.30 44.23% 5054000 Publications 5054200 Newsletter 2,503.70 6,000.00-3,496.30 41.73% 5054300 Printing 553.09 1,500.00-946.91 36.87% 5054400 Roster 0.00 10,000.00-10,000.00 0.0% 5054500 League Advertising 1,340.00 5054000 Publications - Other 0.00 1,520.00-1,520.00 0.0% Page 2 of 5

3:38 PM 01/19/11 Accrual Basis CMTA Profit & Loss Budget vs. Actual April through December 2010 Apr - Dec 10 Budget $ Over Budget % of Budget Total 5054000 Publications 4,396.79 19,020.00 00-14,623.21 21 23.12% 5055000 Scholarship 5055100 Woodward memorial 0.00 3,500.00-3,500.00 0.0% Total 5055000 Scholarship 0.00 3,500.00-3,500.00 0.0% 5056000 Annual Conference 5056100 Annual conference planning 4,444.79 5,500.00-1,055.21 80.81% 5056150 Attrition 7,705.60 5056200 Audio Video 13,862.55 5056250 Banquet - Entertainment, Decor. 1,749.00 5056300 Gifts & Mementos 5056305 Attendee 5,518.05 5056310 Speaker, Sponsor, Board 1,449.84 5056315 Awards 5,839.60 Total 5056300 Gifts & Mementos 12,807.49 5056400 Food and Beverage 52,460.51 5056450 Future Conference Deposit 7,705.60 5056525 Lodging 5,896.45 5056550 Professional Services 5056555 Conference Contract Services 9,954.48 11,075.00-1,120.52 89.88% Total 5056550 Professional Services 9,954.48 11,075.00-1,120.52 89.88% 5056600 Photographer 3,660.00 5056700 Printing 1,167.50 5056750 Speaker Expense 2,908.00 5056800 Supplies 334.72 5056000 Annual Conference - Other 0.00 115,000.00-115,000.00 0.0% Total 5056000 Annual Conference 124,656.69 131,575.00-6,918.31 94.74% Total 5050000 Program services expenses 147,268.18 194,600.00-47,331.82 75.68% 5060000 Prior Year Expenses 415.00 5100000 Division Expense 11,565.80 66900 Reconciliation Discrepancies -0.02 Total Expense 224,263.72 279,100.00-54,836.28 80.35% Net Income 14,845.39-9,025.00 23,870.39-164.49% Page 3 of 5

3:37 PM 01/19/11 Accrual Basis CMTA Balance Sheet As of December 31, 2010 Dec 31, 10 ASSETS Current Assets Checking/Savings 1010000 Cash and cash equivalents 1010400 General - Chase 38,155.07 1010500 Education - Chase 9,972.48 1020000 Investments 1020100 LAIF 65,840.10 Total 1020000 Investments 65,840.10 Total 1010000 Cash and cash equivalents 113,967.65 1031000 Division Accounts - Chase 1031010 Division 1 4,604.96 1031020 Division 2 4,171.13 1031030 Division 3 1,720.21 1031040 Division 4 85.02 1031050 Division 5 3,732.90 1031060 Division 6 3,834.00 1031070 Division 7 2,576.88 1031080 Division 8 2,814.87 1031090 Division 9 3,958.09 Total 1031000 Division Accounts - Chase 27,498.06 Total Checking/Savings 141,465.71 Other Current Assets 1060000 Inventory 992.00 1070000 Prepaid expenses 3,263.58 Total Other Current Assets 4,255.58 Total Current Assets 145,721.29 Fixed Assets 1150000 Capital assets 1160000 Furniture and equipment 11,502.03 1199999 Accumulated depreciation -11,502.03 Total 1150000 Capital assets 0.00 Total Fixed Assets 0.00 TOTAL ASSETS 145,721.29 LIABILITIES & EQUITY Liabilities Current Liabilities Page 4 of 5

3:37 PM 01/19/11 Accrual Basis CMTA Balance Sheet As of December 31, 2010 Dec 31, 10 Accounts Payable 2010000 Accounts payable 203.69 Total Accounts Payable 203.69 Other Current Liabilities 2030000 Other liabilities 7,725.00 2090000 Deferred revenue 2090200 Deferred Annual Conference 14,500.00 2090300 Deferred Scholarship Income 1,500.00 Total 2090000 Deferred revenue 16,000.00 Total Other Current Liabilities 23,725.00 Total Current Liabilities 23,928.69 Total Liabilities 23,928.69 Equity 2700000 Retained Earnings -16,605.86 2740000 General fund 106,796.77 2750000 M Woodward Memorial Education 16,756.30 Net Income 14,845.39 Total Equity 121,792.60 TOTAL LIABILITIES & EQUITY 145,721.29 Page 5 of 5

Addendum to Agreement for Professional Association Management Services between Smith Moore and Associates, Inc. and California Municipal Treasurers Association Annual Conference Support Services 2011-12 SMA will proactively coordinate these services with CMTA Board, Seminar/Host Committees or other CMTA committees as requested. The following Conference Services will be provided in addition to the management services listed in the Agreement for Professional Association Management Services already executed. These costs will apply for CMTA s 2011 and 2012 conferences. Service: Registration Cost: $1,850 This service portion will include handling online registrations (including the accounting thereof), as well as preparing all check-in materials (name badges, tickets, ribbons, envelopes, etc.). Service: Onsite Staff Cost: $1,920 This service includes a staff member to work the conference all four days, including staffing the registration desk, as well as (if necessary) ensuring all room set-ups are accurate, all audio-visual equipment is correct, and all speakers are taken care of. Service: Program Support Cost: $ 800 This service includes staff to work with the committee, and especially the chairs, to establish a timeline for tasks associated with the planning of this event. Service: Speaker Coordination Cost: $2,700 This service includes staff to organize all speaker materials, including distributing speaker confirmations, establishing audio-visual needs, collecting presentations, biographies and pictures, make hotel arrangements, etc. Service: Marketing Cost: $1,600 This service includes coordinating the publication of the conference brochure, including drafting the text and collecting course descriptions. Design and printing of the brochure is not included, and should be considered separate costs in the conference budget. This also includes promotional emails. Service: Exhibitors/Sponsors Cost: $ 800 This service includes accounting and registration of confirmed exhibitors and sponsors, as well as coordinating same with CMTA contract meeting planner. Also included is promotional/logo coordination for the passport and other conference materials as appropriate.

Service: Materials/Give-Aways Cost: $ 480 This service includes ordering any give-aways for the conference, such as tote bags, pens, portfolios, etc., as directed by the committee and/or item sponsor. Ensuring prompt delivery of correct items in time for the event. Compensation The total cost for all additional services is $10,150 annually. The fee for these services will be billed monthly at a rate of $845.83 per month from January 2011 through December 2011; and at $1,015 per month from January 2012 through October 2012. Any like or additional services for future conferences will be detailed in a subsequent addendum to the original Agreement for Professional Association Management Services. EXECUTED: Smith Moore and Associates, Inc. California Municipal Treasurers Association Date: Date: By: By: Catherine A. Smith, CAE President, Smith Moore & Associates Mary Morris President, CMTA Note: Covers through the end of our current service agreement which ends Oct. 31, 2012. We can address a fee increase when we propose a new agreement and consolidate the addendums into the scope of service.

League of California Cities 1400 K Street Sacramento, CA 95814 (916) 658-8260 Date 12/6/2010 Invoice Invoice No. 97090 California Municipal Treasurers Assoc. Debbie Welch, Executive Liason 1215 K Street, Suite 2290 Sacramento, CA 95814 Terms PO No. Description Amount City Hall Directory advertisement 1/4P 2 Color 825.00 Total $825.00 Payments/Credits $0.00 Balance Due $825.00

www.cmta.org Dashboard Jul 1, 2010 - Jan 15, 2011 Comparing to: Site Visits 200 200 100 100 0 0 Jul 5 Jul 23 Aug 10 Aug 28 Sep 15 Oct 3 Oct 21 Nov 8 Nov 26 Dec 14 Jan 1 Site Usage 3,016 Visits 48.64% Bounce Rate 10,070 Pageviews 00:03:03 Avg. Time on Site 3.34 Pages/Visit 43.97% % New Visits Visitors Overview Map Overlay Visitors 200 100 0 200 100 0 Jul 5 Jul 23 Aug 10 Aug 28 Sep 15 Oct 3 Oct 21 Nov 8 Nov 26 Dec 14 Jan 1 Visitors 1,353 Visits 1 2,989 Traffic Sources Overview Referring Sites 1,972.00 (65.38%) Direct Traffic 978.00 (32.43%) Search Engines 66.00 (2.19%) Content Overview Pages Pageviews % Pageviews /frontend/portal/viewcalendar.a 1,295 12.86% /event.aspx?eventid=17320&in 620 6.16% /frontend/search.aspx?cs=1004 475 4.72% /event.aspx?eventid=18341&in 450 4.47% /login.cfm 343 3.41% 1 Google Analytics

www.cmta.org Visitors Overview Jul 1, 2010 - Jan 15, 2011 Comparing to: Site Visitors 200 200 100 100 0 0 Jul 5 Jul 23 Aug 10 Aug 28 Sep 15 Oct 3 Oct 21 Nov 8 Nov 26 Dec 14 Jan 1 1,353 people visited this site 3,016 Visits 1,353 Absolute Unique Visitors 10,070 Pageviews 3.34 Average Pageviews 00:03:03 Time on Site 48.64% Bounce Rate 43.97% New Visits Technical Profile Browser Visits % visits Internet Explorer 2,280 75.60% Firefox 566 18.77% Chrome 93 3.08% Safari 71 2.35% Mozilla 2 0.07% Connection Speed Visits % visits Unknown 1,494 49.54% T1 567 18.80% Cable 555 18.40% DSL 324 10.74% ISDN 40 1.33% 2 Google Analytics

www.cmta.org Traffic Sources Overview Jul 1, 2010 - Jan 15, 2011 Comparing to: Site Visits 200 200 100 100 0 0 Jul 5 Jul 23 Aug 10 Aug 28 Sep 15 Oct 3 Oct 21 Nov 8 Nov 26 Dec 14 Jan 1 All traffic sources sent a total of 3,016 visits 32.43% Direct Traffic 65.38% Referring Sites 2.19% Search Engines Referring Sites 1,972.00 (65.38%) Direct Traffic 978.00 (32.43%) Search Engines 66.00 (2.19%) Top Traffic Sources Sources Visits % visits cmta.org (referral) 1,893 62.77% (direct) ((none)) 978 32.43% google (organic) 58 1.92% interactivedata.com (referral) 13 0.43% treasurer.ca.gov (referral) 9 0.30% Keywords Visits % visits cmta 15 22.73% california municipal treasurers 9 13.64% cmta essentials of treasury 4 6.06% mary morris sacramento 3 4.55% cmta 2010 annual conference 2 3.03% 3 Google Analytics

www.cmta.org Map Overlay Jul 1, 2010 - Jan 15, 2011 Comparing to: Site Visits 1 2,989 3,016 visits came from 16 countries/territories Site Usage Visits 3,016 % of Site Total: 100.00% Pages/Visit 3.34 Site Avg: 3.34 (0.00%) Avg. Time on Site 00:03:03 Site Avg: 00:03:03 (0.00%) % New Visits 44.00% Site Avg: 43.97% (0.08%) Bounce Rate 48.64% Site Avg: 48.64% (0.00%) Country/Territory Visits Pages/Visit Avg. Time on Site % New Visits Bounce Rate United States 2,989 3.35 00:03:04 43.56% 48.38% India 5 1.40 00:00:26 100.00% 80.00% Canada 4 4.00 00:02:54 100.00% 50.00% Italy 3 1.00 00:00:00 33.33% 100.00% China 2 1.50 00:00:45 100.00% 50.00% Morocco 2 1.50 00:00:05 100.00% 50.00% France 2 1.00 00:00:00 100.00% 100.00% Netherlands 1 1.00 00:00:00 100.00% 100.00% Sri Lanka 1 2.00 00:00:00 100.00% 0.00% 4 Google Analytics

United Kingdom 1 1.00 00:00:00 100.00% 100.00% 1-10 of 16 5 Google Analytics

www.cmta.org Content Overview Jul 1, 2010 - Jan 15, 2011 Comparing to: Site Pageviews 300 300 150 150 0 0 Jul 5 Jul 23 Aug 10 Aug 28 Sep 15 Oct 3 Oct 21 Nov 8 Nov 26 Dec 14 Jan 1 Pages on this site were viewed a total of 10,070 times 10,070 Pageviews 6,804 Unique Views 48.64% Bounce Rate Top Content Pages Pageviews % Pageviews /frontend/portal/viewcalendar.aspx 1,295 12.86% /event.aspx?eventid=17320&instance=0 620 6.16% /frontend/search.aspx?cs=1004 475 4.72% /event.aspx?eventid=18341&instance=0 450 4.47% /login.cfm 343 3.41% 6 Google Analytics