Minutes of CT-GFOA Executive Board Meeting

First and Last Tavern, Middletown, CT

Thursday, December8, 2011

Attendance: 1st Vice President Ann Harter, 2nd Vice President Tony Genovese, Treasurer Sal Pandolfo, Past President Maryanna Stevens (arrive 11:50), Diane Waldron, Diana Doyle, Robert Curry, Robert Barron, Robert Tait, Jim Wren, Jim Finch, Nina Cousins, Michael Lupkas, Emilia Portelinha, and Jim Reynolds.

Board Members absent: President Mike Walsh, Tom Hamilton, Rick Darling, Greg Simmons

Call to Order: The meeting was called to order by 1st Vice President Ann Harter at 11:50 am.

Presentation of Gift Card – Diana and Jim Wren presented Jim Reynolds with a $500 gift card for his dedication and hard work in teaching GFOA CT education classes.

Approval of Minutes of the November 15, 2011 meeting: Motion: Jim Wren; Second: Diane to approve the minutes as presented. The motion carried unanimously with Nina and Jim Finch abstaining.

Treasurer’s Report:

Sal presented the financials as of November 30, 2011. Motion: Diana; Second Mike Lupkas; to approve the Treasurer’s Report for the 4 months ended November 30, 2011. The motion carried unanimously.

Committee Reports:

Accounting Standards: Nina reported on new GASB reports issued including statements 63 & 64. She also reported on some new exposure drafts.

Education Committee: Diana Doyle and Jim Wren discussed a possible spring session but because it was not included in the budget and because of Jim Reynolds' travel schedule, decided not to have a spring session. Jim Wren and Diana also commented that in the past they tried to change from the classroom instructor format to having different speakers but there was very little interest so they went back to the original format. They remarked the original format has sold out every time.

Historian: None

Internet: Bob Curry discussed membership list of those being deleted. He is 50% complete with the list. Mike Lupkas mentioned that several members on the deleted list may not be getting notices due to email problems.

John Walsh Scholarship: None

Legislative: None

Membership: None

National Event: None

Newsletter: Remove from agenda

Program: Ann discussed topics for February’s agenda including: IRS regulations, US credit issues by Moody’s and S&P, labor issues by Bill Ryan and a presentation by a motivational speaker.

New England GFOA: Jim Finch reported that the NESGFOA reviewed organizational balance sheet as of 8/31/11 with an unreserved fund balance of $36,415 increased from $19,742. Also, the Maine conference netted a surplus of $29,425. Finally, the treasurer requested a waiver for penalties of the IRS of $1,860 and the board voted to create scholarships for the annual conference at $1,000 per State. Jim reported the spring conference will be held on April 12th and 13th in Waltham. Finally, the annual 2013 conference is in Vermont and 2014 in Rhode Island.

Walsh and Miklus Sholarships: Maryanna made a motion and Mike seconded a motion to have the Walsh scholarship be used for the Advanced Governmental Institute and for a student pursuing graduate studies while the Miklus scholarship will be used for spring training. All were in favor.

Diane reviewed the draft policy for the Miklus scholarship. She discussed a budget of $1,000 for 2 people awarded at the February meeting. Jim Finch and Maryanna seconded a motion to approve the policy as discussed. All in favor. Maryanna made and Emilia seconded a motion to increase budget by $1,000. All in favor.

Old Business: None

New Business: None

Adjournment: Motion: Jim Wren; Second: Emilia to adjourn the meeting at 12:25 pm. The motion carried unanimously.