Issue link: http://read.dmtmag.com/i/52434
FROM THE NATIONAL SECRETARY, cont. Thursday, September 8, 2011 The September quarterly meeting of the Board of Directors of the National Catholic Society of Foresters was called to order by National President Margaret Babinat on Thursday, September 8, 2011 at 9:00 a.m. in the board room of the Home Office. All members of the Board were present. The meeting opened with a prayer, followed by the Pledge of Allegiance to the Flag of the United States. Motion by National Director Rosalie Pyle, seconded by National Director Loretta Nelson the national secretary's minutes from the June 2011 Board of Director meeting be approved as amended. Motion pass 11 Yes – 0 No. Report of the accounting department was given by National Treasurer Jon Mocol and Senior Accountant Sandy Tardi. The report covered: • Second quarter results were released to the regulators on August 10th • Operating gain • Net income • Excellent surplus position • Total refunds • Operations report – Transition to new bank complete – Illinois state examiners are expected in 2012 to audit years 2007 through 2011 – Fixed asset initiative to update and maintain current list of all fixed assets – Review all balance sheet accounts • Restructure of accounting department Sales Manager Victor Mensavage's report covered the years January 2008 – August 31, 2011: • First Year Annuity Premium by Month • New Life Premium by Month A discussion was held on all the life, term and annuity products that the Society offers. Lunch was shared with the Harris Investment Team and discussion was held on the Society's investments. Lori Newberg, FSA, MAAA of Miller and Newberg, Inc., joined the meeting to advise the Board of Directors on the business mix and dividend analysis for the year 2012. Motion by National Secretary Patricia DeNys and seconded by National Vice President Margaret Schmitt, the NCSF Board of Directors declare a dividend declaration for 2012 not to exceed $335,000.00. Committee meetings were held. COMMITTEE REPORTS WERE GIVEN: CONSTITUTION AND LAWS COMMITTEE Jon Mocol, Loretta Nelson, Patricia DeNys, Jane Uselman The committee reported that several constitution changes were submitted and further review will need to be done before a recommendation is given. AUDIT COMMITTEE The following issues were discussed and agreed upon by the committee members. Names of auditing firms as potential candidates were presented to the committee by Thomas Meyer. The Johnson Lambert; Blackman-Kallick; Herber-Eck-Baeckel; Horovitz Rody & Roteman and Eide Bailey. The committee recommended that at least two more auditing firms be added to the list. Each vendor will receive a letter outlining the audit objectives and guidelines for a response which is to be received by the committee by January 31, 2012. The committee requests input from the NCSF Board of Directors as to suggestions from the 2007 Audit Committee. Respectfully submitted, Rosalie Pyle, Catherine Hensel, Thomas Meyer YOUTH COMMITTEE The Youth Committee met on Thursday, September 8, 2011. Meeting was called to order at 3:25 p.m. Present were Carol Clauson, Margaret Schmitt and Linda Ortiz. 10 National Catholic Forester