Board Meeting Minutes
Tuesday, April 24, 2007
Board members present: Rosemary Barson, Judith Bragg, Janet Fisher, Bill Fisher, Ethel Garrity, Styron Harris, Ken Herd, Dan Johnson, Bill Miller, Ches Sharp, Brunhilde Tober-Meyer.
Staff from the Office of Human Resources: Rich Ashley, Crystal Gilland, Diana McClay.
The meeting was called to order at 3:30 p.m. by Janet Fisher.
The minutes of the March 2007 meeting were presented by Ches Sharp and were approved by the Board.
Executive Committee: Janet Fisher, chair.
Janet presented a draft of a letter to ETSU employees for comments from the Board. The letter announces a new series of retirement planning workshops and invites employees to attend.
Membership Committee: Ethel Garrity, chair.
Ethel announced that our membership is at 344, an increase of 36 since our last meeting.
Finance Committee: Bill Miller, chair, gave the following figures as of March, 2007.
Operating Fund Account $ 1,965.38
Life Membership Account $ 13,915.00
Scholarship Endowment Investment Account $ 105,692.74
Endowment Interest Income Account $ 4,147.00
TOTAL ASSETS $ 125,720.12
Bill addressed the two concerns raised in the March meeting. The first concern—why a withdrawal from the Operating Fund without a corresponding deposit in the Scholarship Fund—lost most of its urgency when the deposit appeared in the Scholarship Endowment Investment Account in the new statement recorded above. Bill pointed out that the Operating Fund Account and the Life Membership Account are in the business office of the University. The Scholarship Endowment Investment Account and the Endowment Interest Income Account are in the ETSU Foundation. Thus some time intervenes between the removal of funds in one office and the depositing of the funds in another account in another office. Bill further added that the statements which the minutes of the Association records are about one month behind the current figures. About the second concern—when interest is added to the accounts—Bill said that the Scholarship Endowment Investment Account funds are invested by the University with the interest earned deposited into the Endowment Interest Income Account. The monies in the Interest Income Account are used to pay student scholarships.
Liaison Committee: Bill Fisher, chair.
Bill reported on a Life Planning Seminar given at UT-Knoxville on April 18 and 19. Bill had attended the seminar to gather information to help in the planning of a series of workshops on retirement for ETSU employees to be conducted by ETSU Retirees Association, the Office of Human Resources, Faculty Senate, Staff Senate, and the University Employee and Retiree Benefits Committee.
Rich Ashley outlined a tentative plan for twenty-four workshops on a very comprehensive list of topics: retirement options, Social Security, legal affairs, Medicare, insurance, taxes, health, financial planning, housing, and activities in retirement.
The meeting was adjourned at 4:30 p.m.
R. Chesla Sharp
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Mailing Address: Office of Human Resources
ETSU Box 70564
Johnson City, TN 37614-1707
Office Hours: 8 a.m. to 4:30 p.m. E.S.T. Monday
Office Location: Rooms 307 and 311, Dossett Hall
Updated on 05/11/07