MINUTES FOR LBA BOARD MEETING 6/22/2007
President A.Beth Reid called the meeting to order at 5:35 PM. The meeting was held at the Best Western Brownsboro Road Inn, Louisville, KY, in conjunction with the Louisville Sectional.
Officers/board members present:
Barbara Moir, Susan Cox, Gail Slater, Karen Clear, Jean Donoho, Kit Overpeck, Ted Flach, Rex Swauger, Charlene Daniels, Frank Nelson, Vangie Smith, and A. Beth Reid.
Officers/board members absent:
Marge Handley, Joe Dye and Hannah Davis.
Attending non-voting:
Tony Lipka, Steve Blank.
Guest:
Betty Mattison
President’s Report
A.Beth Reid reported to the board on the theft of our trailer, filled with card tables, bidding boxes, trash cans and miscellaneous decorative items. There will be two claims filed, one with our auto policy and the other on our business policy. The auto policy claim has been filed.
The trailer, a 1999 model, was purchased in 2004. We paid $1,500.00 for the trailer and the deductible is $500.00. We don’t anticipate getting much for the trailer. Hannah Davis has a line on a trailer, and Beth believes that the Lexington bridge club will split it with us since we both use the trailer and tables for Regionals.
Beth is looking at the loss of 156 old tables and 50 old black bidding boxes to be an opportunity. The good news is that the policy reimburses the replacement price. Beth hopes to get the pressed vinyl tables which would be a great improvement over the old ones. We will assess our needs before filing a claim, as the price of replacement needs to be established. The insurance company will also pay the rental price for the tables that we needed for the June Sectional. We may have to go ahead and buy the items before we actually get the insurance check, which shouldn’t be a problem. One suggestion that Beth received was that we need to have signage painted on the side of our trailer to dissuade thieves from stealing it. There were also other suggestions to help prevent a reoccurrence of the theft. One suggestion was that we investigate getting a “boot” that would lock the wheel and keep it from turning. Another suggestion was to mount a tracking device on it.
Treasurer’s Report
Barbara Moir reported that we have had a 56% increase in income, of which 40% is taken up by rent. We have a number of new players, which has increased our table numbers a good bit. She feels that things are going on as they should. We have a $20,000 Certificate of Deposit at Eclipse Bank, which is drawing 5.75% interest. This is a very good interest rate, however, when we get ready to invest again, Karen Clear suggested that we consider laddering our CD’s.
Audit of LBA Books
Frank Nelson gave a brief oral report of the audit that he made of the LBA Books. He reported that there were some problems in the existing records that need to be corrected; however, overall Barbara Moir has done a commendable job in completing the responsibilities assigned to her by her job description. Frank felt, however, that there were three areas of the job description that were not being met and should be worked on.
Frank’s words were:
“The Treasurer shall submit a proposed budget annually for the approval by the board”. While this process has been started it needs to be finished so that we can
soon get a budget in place for 2008.
“The Treasurer shall post each month’s income and expenditures on the bulletin board and give a copy to the Secretary”. This needs to be done on a consistent basis. Additionally, I would like to suggest three things. First that the board set a date for the monthly posting (i.e. by the 20th of the following month) and second that the balance sheet be posted as well. Thirdly, that the wording in the job description be changed to read: “The Treasurer shall post on the bulletin board by the 20th of the following month an accrual basis Profit and Loss statement and Balance Sheet and give copies to the Secretary”.
“The Treasurer shall chair a committee of qualified and disinterested persons who are knowledgeable about finances to review and make recommendations regarding the LBA’s investment strategies”. These meetings should be held annually or more often if needed. This needs to be done immediately as our cash balance is building and we will be getting another $3,000 or so from the June Sectional Tournament.
Beth indicated that at the next meeting we could change the Standing Rule, and at this meeting we could modify the Job Description.
Rex Swauger said that he felt that it was unnecessary for the Profit/Loss statement and Balance Sheet be posted monthly. He believed that doing so only invited questions from members who didn’t understand the workings of the treasurer. He made a motion to remove the monthly posting requirement from the Job Description. The motion died for lack of a second.
Gail Slater made a motion to add the wording requiring that the Profit/Loss Statement and Balance Sheet be posted by the 20th of the following month and made available monthly to the Secretary. Susan Cox seconded the motion. The motion passed.
Charlene Daniels, who is a Kentucky Auditor, said that she felt using the accrual method would not be good and suggested that we use a cash method instead. Frank agreed that this would work well. The change will be made.
Barbara Moir reported that the Brownsboro Inn had billed us twice and been paid twice. They refused to issue a refund or credit and kept our money for a period of time. The feeling among the group was that they are in dire financial straits and needed the money. Barbara had worked with them and they agreed to comp all expenses for our June Sectional. This means that the normal charge of $1950.00 will be profit.
Vice President’s Report
Jean Donoho reported that we had a contract with the Brownsboro Inn through our June Sectional, 2008. We are not sure they will still be in business then. Beth said that the owner of the Brownsboro Inn also owns the Breckinridge Inn, and the Ramada at Newburg Road. We are going to try to make him commit to giving us one of his other hotels for our tournament site, at the same price as the contract on the Brownsboro Inn, in the event it is razed prior to the end of the contract. Jean undertook to pursue this matter.
Secretary’s Report
Vangie Smith reported that using e-mails to disseminate information was working very well. She asked that she be given e-mail addresses for new players. Frank Nelson moved to approve the minutes from the February Sectional, Kit Overpeck seconded the motion. The motion passed.
Maintenance Report
Ted Flach said that the carpets had been cleaned on Friday morning while the Louisville Bridge Center was closed for the Sectional. Beth said that Hannah Davis had asked that everyone try to keep it clean for the 299’er Tournament in August.
Ted also said that he had been throwing away chairs from the back room as the legs became bent. Everyone agreed that that would be preferable to having an accident if someone sat on them and they folded. Beth reported that they had not been expensive.
Special Projects Report
Hannah Davis was not present to report on the 299’er Tournament, but Betty Mattison reported that she had sent flyers for the tournament to the District. Vangie said that Hannah had told her that things were going well and there was a committee meeting on Tuesday, June 26.
Special Games Report
Susan Cox reported that in the two years that we had been concentrating on the monthly LBA game, the number of tables had increased from an average of 4 or 5 to an average of 19. This is excellent because the LBA is able to bank the profit from this monthly game. Many games are owned by the directors, but this one belongs to the LBA.
Susan also said that she had tried to hold a Mentor/Mentee game but that Verna Goldberg and Mauri Malka had not been ready to have one. They will try to hold one in August of this year, after the summer classes have ended.
Susan also felt that the job of Special Games Chairperson should only be for a year and at that time it should rotate. Gail Slater said that she felt the same way about the job of Calendar Chairperson.
Charity Games Report
Kit Overpeck said that he had decided on using the Juvenile Diabetes Foundation as the Charity for the fall game. The Board agreed by affirmation. The date for the fall charity game is November 26, 2007.
Education Report
Frank Nelson reported that classes are going very well. Mike Sloan has 26 in his current class, which is quite good.
Kit Overpeck reported that he consistently has 7 students in his Kids Camp class. This is a good start. Kit asked that the board pay for t-shirts for the participants and their helpers. Peter Schwartz has attended each class and has helped with one table. Vangie Smith reported that with set up fees and three colors, twenty five shirts would run $250.00. While Gail Slater questioned the need for that number of shirt and that number of colors, it was felt by the board that since a lot of the expense was set up, that it was best to order extras. While a plain, one color shirt would be less expensive, it would not reflect as well on our organization. This is a form of advertisement. Beth Reid made a motion to allow up to $275.00, and Barbara Moir seconded the motion. The motion passed.
New Business
Betty Mattison reported on the District Director Election. Beth Reid left the room so that we could speak freely. Betty reported that Jim Reiman was retiring as District Director for District 11 on the ACBL Board and Beth is running against Joyce Penn of Columbus, Ohio, to fill his seat. Betty explained that Beth is very businesslike while Joyce appears more sugar coated. She encouraged all of us to encourage persons outside our unit to vote for Beth. She also made clear that we will vote as a Board and the number of votes we have is contingent on our numbers.
Karen Clear reported that our Life Master Board is almost full. There is only room for five more recipients. She discussed the possibility of purchasing a new board, as to size of both the board and the plaques. Everyone seemed to agree that the new board should be the same as the original board as to size and structure and that the plaques should also remain the same. The old board will be moved to the left when the new one is mounted.
Adjournment
Kit Overpeck moved that the meeting be adjourned and Frank Nelson seconded. The motion passed and the meeting was adjourned at 6:45.
Respectfully submitted by Vangie Smith, Secretary Unit 117.