Minutes for November 12, 2014

Connie McNeill presented the Financial Report and indicated that the Committee did not identify any significant issues at this time.  Jim Fordemwalt reported that declining membership is a concert for the University Club.  Barbara Shaw-Snyder updated the Board on organization changes to Public Affairs at ASU; ASURA now reports to Jim Obrien in the President’s Office.  An ASU family has been identified for the Adopt-a-Family program.  Video history interviews are being scheduled for the coming year.  The two seminars on health insurance were well-attended.  Upcoming travel events include a trip to the Musical Instrument Museum and to the Spirit of Christmas concert on 6 December.  Book sales continue to generate revenue for the Association.  The book collection activity is being separated from the Finance Committee in the future.  Connie McNeill reported that the Finance Committee determined it was not feasible to invest in quasi-endowment funds.  They also determined that life-time memberships present accounting and financial issues for the Association.  ASURA membership and revenues have been declining and the Association needs to consider ways to establish equilibrium between revenues and expenditures.  Joyce Hartman Diaz reviewed Healthcare costs and procedures. Jo Madonna reported that ASURA membership has declined from last year, and the results of the Membership Survey as a guide to improving the attractiveness of ASURA to retirees.  Discussion continued on the advisability of Board members assuming other leadership roles and on increasing membership.