NJASFAA

Board of Directors Meeting

Wednesday, August 10, 2005

Princeton Theological Seminary

Templeton Hall

10:00 am – 2:00 pm

Attendees:

Francine Andrea, Sheila Attias, Michael Bennett, Kathy Bialk, Catherine Boscher-Murphy, Helen Mikulak, Carmen Panlilio, Maribeth Quinn, Matthew Spina

Helen distributed the treasurer’s report as of June 30, 2005. The association is healthy with total assets of $261,116.85. The taxes are currently being prepared by the accountant and the books will be forwarded to the auditor following the completion of the taxes.

After much discussion it was determined that a small group (President, Past-President, Treasurer and Endowment chair) would meet with New Jersey City University’s Development person to discuss setting up the scholarship fund. Carmen will report back to the board at the November meeting. Discussion revolved around the purpose and the structure of the fund whether it should be an endowed fund or a restricted fund.

The board again discussed the role of NJASFAA’s Vice President. It was determined that it is up to the president to assign duties and utilize the position.

Cathi Boscher-Murphy reported on the Logo Trademark and it was decided that Maribeth would request information from NASFAA in relation to guidance to state and regional associations for service trademarking.

The Long Range Strategic Plan was reviewed. It was recommended that more should be done at the scholarship luncheon to recognize the scholarship winners including, but not limited to, photographing the recipient with their family members for the annual report and public relation press releases to the recipient’s local papers. It was also suggested that we return to speaking about each recipient when we award them.

The board also recommended that the Training committee prepare a calendar of training events that can be used as a template every year.

Cathi Boscher-Murphy also presented a draft Mission Statement which after amending will be presented to Executive Council for approval.

NJASFAA’s reserve was discussed and the following was recommended.

1. Determine and set a formula for the reserved which will then be written into the Policy and Procedures Manual. The formula will be determined after reviewing NASFAA’s recommendations and soliciting advice from the auditors. These recommendations will be reviewed, however the exact formula may differ from the recommendations.

2. Once the reserve is established, the board will make recommendations on spending excess funds.

Old Business:

Wall of Honor – Tabled until November meeting

New Business:

A possible free Spring Conference for current 2005-2006 members was suggested and received approval of the board.

Maribeth broached the possibility of changing the officer’s terms from July 1 – June 30 to June 1 – May 30. Further research is necessary and will be discussed again at the November meeting.

Fran, on behalf of Rich Woodland asked if the November meeting could be changed from Monday morning to Sunday evening. Cathi, as Conference Chair, will discuss this with Joe Roberto as it will require a meeting room and Sunday night accommodations for board members.

The board would like to review an executive management track and are looking at what currently exists in other organizations.