2020-06-12 Meeting notes

10:00

Antitrust Statement

Ed Weidmann

Financial Statement

Ed Weidmann

Ed presented a summary of the current financials. Assets are 12% higher than 2019 EOY. Expenses are low year to date due to late hiring of new Exec Dir and PM. This will balance out as the year proceeds.

Marketing Bonus of $10,000 is not budgeted and there is some confusion over what that was for.

Membership & IP

Discussion

Questions were asked about membership changes over the last year which led to a lengthy discussion of CIECA’s lack of true IP or licensing which can result in companies dropping out of CIECA but continuing to use the schemas.

Charley’s Contract

Ed Weidmann

Charleys contract for 2020 defines the total value of the contract for Jan 1 - Jun 30. We will need Charley to extend for a couple months once we have selected a replacement. We will need to add an addendum to the contract to provide a monthly fee for the extension period and an hourly rate for future needs if we need to consult him on particular issues.

Investment Management

Group discussion

Jeff Schroder raised a concern that we have a significant amount of money in checking and a money market account that is earning little to no interest. The suggestion was made that we could move some portion of that money into a CD to improve the rate of return. Jeff recommended that Paul and Ed put together a proposal for moving some portion of the funds in to a better interest earning instrument. We should have this complete and ready for proposal at the next Board meeting which should be forthcoming in the next few weeks.

Licensing Fees

Group Discussion

A question was raised whether we should budget for License fees. It is not something we have historically budgeted for, but we do tend to get about $5k/yr in license fees for one time purchases of a single service license. Ed’s concern is that it could cause us to drive to that number when it isn’t really an important target.

10:45

Meeting Adjourned