Minutes for October 9, 2018

The proposed budget was presented to the Board.  It was indicated that we should break even with our income and expenses for this year.  He pointed out that the general funds includes the $7K we receive from the University.  Special projects includes the proceeds from the book sales which is divided between the video history project and scholarship fund.  Video history project has indicated they need additional equipment and software to support the project.  The required annual review of the ASURA accounts was performed. It was reported that the our balances match the balances the Foundation has for the ASURA accounts.  There were no recommendations for next year.  There were, however, two comments:  1)  It was recommended that we spend the entire $7K received from the University as best we can.  We should continue to monitor the unspent amount and keep it under 10% at the most. 2)  We need to closely monitor the scholarship account and make sure we have sufficient funds if we want to continue to offer $10K each year.   There is a big need for people to edit the video interviews that have been recorded as part of the video history project.  There is a significant backlog that needs to be addressed.  Discussion on membership retention also took place at the meeting.