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National Catholic Forester EXECUTIVE VICE PRESIDENT REPORT Jay reported on business growth, improved morale, production goals for 2015 and that the state is nearly finished with their "targeted" audit. It was reported that NCSF is looking into offering LOMA courses to employees and board members. More information is forthcoming. Lisa Bickus made a motion, to accept the 2015 Travel Expense Limitations based on IRS Publication 1542. Second by Sally Egan. Motion adopted 11-0. The meeting recessed at 5:45 p.m. FRIDAY, DECEMBER 5, 2014 The December quarterly meeting of the Board of Directors of the National Catholic Society of Foresters was called to order by President Margaret Schmitt at 8:15 a.m. in the home office board room on Friday, Dec. 5, 2014. The meeting opened with prayer followed by the Pledge of Allegiance to the Flag of the United States. Roll call was taken with all Board members present. Also present was EVP Jay Schenk. National Treasurer Lisa Bickus and National Secretary Catherine Hensel, recited the oath of office. Joe Annotti, President of the American Fraternal Alliance was present, and spoke about governance training as well as oversight and due diligence. Personnel Committee: The Board went into closed session for the personnel committee report. Patrick Coleman and Jay Schenk were excused during this report. After the meeting reopened, National Director Patrick Coleman, being an employee, was excused while the Board discussed employee's salaries over $40,000. Lisa M. Bickus moved and Linda Ortiz second that NCSF Board approve the report of the employee's salaries of $40,000 or more in accordance to State of Illinois Insurance code 215CS5/312.1. Motion adopted 10-0. Patrick rejoined the Board. Also joining the meeting to observe was a member of the State of Illinois auditor's team. FINANCIAL REPORT Accounting Department: Controller Frank Janczak presented the financial report and review of the third quarter's results. He also presented the vendors over $40,000 report. Lisa Bickus moved, second by Patrick Coleman, to approve the vendors over $40,000 report (with the addition of the vendors added at the current board meeting) per Illinois Insurance 215CS5/312.1. Motion adopted 11-0. Frank Janczak presented the budget for 2015. The finance committee will review and present recommendations to accept the budget before Dec. 31, 2014. 81),1,6+('%86,1(66 The afternoon session started with unfinished business: Fraternal Committee: Sandra Troyanoski presented motion that the fraternal department start a new fraternal benefit of preschool grants for Catholic preschool children's tuition. The committee would recommend giving 10 grants at $300 each. This could be done as a lottery of applications. After two years, the Board will evaluate the program. Motion adopted with 10 yes and one abstain. Investment Committee: Lisa handed out the Investment Policy Statement. Lisa Bickus moved to adopt the revised Investment Policy Statement effective Jan. 1, 2015. Motion adopted 11-0. Sales Department Report: Victor Mensavage answered questions on the sales report that the Board had received earlier. The Board thanked Victor and his team for having a successful 2014. 401k: National Director/Employee Patrick Coleman was excused from the room while the Board discussed the employee 401k program. Patrick Coleman returned to the board room. The Board went into a goals/strategic planning session. Many ideas were shared and discussed. The Board went into a closed session. The Board went back into open session. Sally Egan moved that we adjourn. Motion carried. Meeting adjourned with prayer at 6:15 p.m. Respectfully Submitted, NATIONAL SECRETARY CATHERINE HENSEL A FULL REPORT OF THE BOARD MINUTES ARE AVAILABLE IN THE OFFICE OF THE NATIONAL SECRETARY, 1-800-344-6273. From the National Secretary, cont. from page 7