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2024-03-08 Meeting notes

Owned by Paul Barry, created
Mar 08, 2024
2 min read

 

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   CIECA 500 Westover Dr  #11617; Sanford,  NC  27330 

Date

Mar 8, 2024

ANTITRUST STATEMENT

As participants in this meeting, we need to be mindful of the constraints of antitrust laws. There shall be no discussions of agreements or concerted actions that may restrain competition. This prohibition includes the exchange of information concerning individual prices, rates, coverages, market practices, claims settlement practices, or any other competitive aspect of an individual company’s operation. Each participant is obligated to speak up immediately for the purpose of preventing any discussion falling outside these bounds.

Meeting Minutes

  • Minutes of the January meeting were reviewed and approved.

  • 2024 YTD financials were reviewed.

    • Renewal revenue is down slightly but it is primarily due to a few large members payments not yet received. No concerns.

    • New member revenue is strong for the year due to several new members so far this year.

  • 2022 Audit is nearly complete except for one outstanding issue that is a recurring problem due to the fact that contractor fees are paid on the last day of the month which creates confusion when payments are or are not processed and the timing of the month end snapshot.

    • Our accounting firm is working to address the question.

    • Once this issue is resolved, the audit will be complete.

  • GL Insurance: We need to increase our policy limit to $3M to comply with requirements of the hotel for CONNEX 2024.

    • We currently have a $1M limit which is better than nothing, but probably too low given the potential.

    • Current cost is $828

    • New cost would be $1,700

    • Because we are mid-term on our current policy, the actual cost to us this year is $666.

    • Paul made a motion to approve the expense to increase our policy. The committee approved unanimously.

  • Meeting adjourned.

Up Next

  • Antitrust Agreement and Meeting minutes acceptance

Action item

s

Decisions

 

Participants

  • @Paul Barry @Kim DeVallance Caron @Mike Marlowe @Brady Bonner Jeff Dietrich @Ashley.Denison

 

 

 

Participants in the meetings are noted for your information.  If you have questions on the committee’s activities, please contact a recent attendee.