NAME: Finance & Compliance Committee DATE: Time: Presiding: Recorded By: June 8, 2015 10:00 a.m. to Noon Deborah Hartel, Co-chair June Noto PRESENT: Cheryl Marks Young; Lou Schwarcz (on phone) Staff: Julia Schneider, June Noto, Debra Wentz AGENDA DISCUSSION ACTIONS TIMEFRAME WHO’S ITEMS/ISSUE TAKEN/OUTCOME RESPONSIBLE Approval of the Deborah Hartel welcomed everyone The minutes were N/A N/A March 9, 2015 and asked for a motion to pass the m/s/p. meeting minutes minutes from the previous meeting. Lou Schwartz motioned to approve the minutes. Financial Issues Julia Schneider presented the N/A Julia Schneider (From Agenda) financials and stated that NJAMHAA is on target with revenues and where we expect to be at this point in the fiscal year. Both the Technology Council and Integrated Council met target revenues. The conference line exceeded revenues through additional sponsor and exhibition sales, versus raising the cost of registration fees. LAN/WAN revenues from the IT Project were adjusted due to service contracts issued late in the fiscal year that will be deferred to next year. The committee discussed dues and mergers and acquisitions of other agencies and how they will affect the bottom line revenue since two organizations pay more than one large one, according to our dues structure. The Finance and Compliance Dues structure should By: Nov. 10, Cheryl Marks Committee members discussed that be reviewed/researched 2015 Young they should make a recommendation to calculate the impact [Governance Julia Schneider to the Governance Committee about that mergers will have. Committee revising the dues structure. meeting] Cheryl Marks-Young indicated that a Arrange for a workshop Before end Debra Wentz and training on mergers and acquisition on Mergers and September staff might be a good idea for our Acquisitions [A workshop membership. will be held on 9/30/15]. Building Search June Noto reported that she had met June Noto will meet Spring 2016 June Noto with two different real estate agents. again with agents in the One was recommended by board spring, per the member Mary Gay-Abbott and recommendation from another by Colliers who had reached Colliers, as it takes
NAME: Finance & Compliance Committee DATE: June 8, 2015 Time: 10:00 a.m. to Noon Presiding: Deborah Hartel, Co-chair Recorded By: June Noto PRESENT: Cheryl Marks Young; Lou Schwarcz (on phone) Staff: Julia Schneider, June Noto, Debra Wentz AGENDA ITEMS/ISSUE DISCUSSION ACTIONS TAKEN/OUTCOME TIMEFRAME WHO’S RESPONSIBLE Approval of the March 9, 2015 meeting minutes Deborah Hartel welcomed everyone and asked for a motion to pass the minutes from the previous meeting. Lou Schwartz motioned to approve the minutes. The minutes were m/s/p. N/A N/A Financial Issues (From Agenda) Julia Schneider presented the financials and stated that NJAMHAA is on target with revenues and where we expect to be at this point in the fiscal year. Both the Technology Council and Integrated Council met target revenues. The conference line exceeded revenues through additional sponsor and exhibition sales, versus raising the cost of registration fees. LAN/WAN revenues from the IT Project were adjusted due to service contracts issued late in the fiscal year that will be deferred to next year. The committee discussed dues and mergers and acquisitions of other agencies and how they will affect the bottom line revenue since two organizations pay more than one large one, according to our dues structure. The Finance and Compliance Committee members discussed that they should make a recommendation to the Governance Committee about revising the dues structure. Cheryl Marks-Young indicated that a training on mergers and acquisition might be a good idea for our membership. Dues structure should be reviewed/researched to calculate the impact that mergers will have. Arrange for a workshop on Mergers and Acquisitions N/A By: Nov. 10, 2015 [Governance Committee meeting] Before end September [A workshop will be held on 9/30/15]. Julia Schneider Cheryl Marks Young Julia Schneider Debra Wentz and staff Building Search June Noto reported that she had met with two different real estate agents. One was recommended by board member Mary Gay-Abbott and another by Colliers who had reached June Noto will meet again with agents in the spring, per the recommendation from Colliers, as it takes Spring 2016 June Noto
F-CMinutes6-8-15.docx