Issue link: https://read.dmtmag.com/i/192534
From the National Secretary, cont. from page 11 Board Open Discussion The Board of Directors went into a closed session. The meeting closed with a prayer at 5:00 p.m. Respectfully submitted, National secretary Patricia de nys, fic Approved: September 18, 2013 ____________________________________ Minutes of the July Special Meeting of the Board of Directors, abbreviated. Friday & Saturday, July 26 & 27, 2013 The Board of Directors met at the Home Office and worked on revisions to the Constitution and crafting a timeline for accomplishing tasks in preparation for the national convention. Michael Ciesla, NCSF attorney was present to provide advice on various matters. Present on July 26 were: Margaret Schmitt, Patricia DeNys, Jon Mocol, Linda Ortiz, Thomas Meyer, Catherine Hensel, Jane Uselman, Rosalie Pyle, and Loretta Nelson. Absent: Carol Clauson. On July 27: present were Margaret Schmitt, Jon Mocol, Linda Ortiz, Jane Uselman, Catherine Hensel, and Rosalie Pyle. Absent: Carol Clauson, Patricia DeNys, Thomas Meyer, and Loretta Nelson. Margaret Schmitt, Acting National President Approved: September 20, 2013 ____________________________________ Minutes of the September quarterly meeting of the Board of Directors. Wednesday, September 18, 2013 The September quarterly meeting of the Board of Directors of the National Catholic Society of Foresters was called to order by Acting National President Margaret Schmitt on Wednesday, September 18, 2013 at 3:14 p.m. – all members of the Board were present except National Director Carol Clauson. The meeting opened with a prayer followed by the Pledge of Allegiance of the Flag of the United States. 12 Acting National President Margaret Schmitt reviewed the proposed agenda. Motion by National Director Thomas Meyer and seconded by National Director Jane Uselman that the Board of Directors accept the agenda for the September 2013 board Meeting as revised. Motion passed 9 – Yes The consent calendar for the quarter ending June 30, 2013 was tabled until September 20, 2013. June 2013 minutes were reviewed. Motion by National Director Linda Ortiz and seconded by National Director Rosalie Pyle that the Board of Directors accept the June 2013 Board Meeting Minutes as corrected. Motion passed 9 – Yes. Minutes of the July 26 & 27, 2013 board meeting were reviewed and tabled. Executive Officers reports were given: National Treasurer's Report Cash Position (Mount Prospect State Bank) In Q2 2013 the cash flow from operations became nonexistent as the products on the market were not being sold and the annuity rates had dropped, while the out flows increased dramatically. During this quarter we were fortunate not to have to withdraw money from the investment account. We were not able to make additional transfers to our investment accounts. Investment Position (Harris Investment Trust) During Q2 we had $4,739,912 of bonds that matured or were reduced due to principal payments received. We have maintained the same equity position but will evaluate the possibilities of increasing that as the bond market has been showing very low yields. Our market value for our total portfolio at June 30, 2013 was $174,883,987. Our current average yield is 3.146%. Internal Operations • he quarterly statement was completed on August 15, 2013 T and submitted to regulatory agencies. • upplementing the accounting function with an outside S consultant. Other Board Business: National Secretary's Report National Secretary Patricia DeNys' report covered the following items for the months of June, July, and August 2013. The total number of insurance and annuity certificates issued was 98 and the total death claims on certificates was 234. National Catholic Forester