Follow MAR Online! <ul><li>Facebook </li></ul><ul><li>Twitter </li></ul><ul><li>Flickr </li></ul><ul><li>LinkedIn </li></u...
Board of Directors Meeting Friday, Jan. 21, 2011 Capitol Plaza Hotel Jefferson City, Mo.
Call  to  Order <ul><li>Joyce Thomas, ABR, CRS, ePRO ® , GRI </li></ul><ul><li>2011 MAR President </li></ul>
Pledge of Allegiance <ul><li>Miles Noennig </li></ul><ul><li>Greater Springfield Board of REALTORS ® </li></ul>
Approval of Parliamentarian <ul><li>W.B. ‘Bart’ Tichenor, J.D., PRP </li></ul>
Approval of Agenda <ul><li>Joyce Thomas </li></ul>
Approval of Minutes & Bylaws <ul><li>Approval of Oct. 1, 2010 Board of Directors meeting minutes </li></ul><ul><li>Approva...
Bylaws Revisions
Bylaws Revisions (con’t)
Bylaws Revisions (con’t)
Presentations <ul><li>Real Property Resource  </li></ul><ul><ul><li>Ohan Antebian </li></ul></ul><ul><li>2010 Leadership A...
RPR Progress Report Missouri Association  of REALTORS® Realtors Property Resource™
<ul><li>“ To provide a comprehensive, catalogued database of real estate information on every parcel of property in the Un...
What is RPR? <ul><li>RPR is a national repository of… </li></ul><ul><ul><li>Parcel-centric property information </li></ul>...
<ul><li>Publicly traded company?  No </li></ul><ul><li>Partnership with third party vendors?  No </li></ul><ul><li>Joint V...
RPR MLS Markets Realtors Property Resource
RPR Key Milestones Realtors Property Resource <ul><li>What’s next? </li></ul><ul><ul><li>Broker Tools </li></ul></ul><ul><...
<ul><li>Data Analysis </li></ul><ul><li>Branding </li></ul><ul><li>Affiliated Services Promotion </li></ul><ul><li>Delegat...
RPR Commercial <ul><li>Charlotte Region Commercial Board of REALTORS® been selected to lead the beta process, with partici...
MLS and Association Dashboard <ul><li>Report generator to provide statistics and trends across the MLS </li></ul><ul><li>O...
MLS Datashare Platform <ul><li>MLS data can be shared via RPR with any other participating MLS </li></ul><ul><li>Limited t...
Realtors Valuation Model™ <ul><li>The goal of the RVM is to create the gold-standard automated valuation product, in order...
Customer Care and Training <ul><li>Support center located in Chicago, IL </li></ul><ul><li>Open 24x7 </li></ul><ul><li>For...
Support Center Realtors Property Resource
RPR Data License Contract <ul><li>One Year Agreement </li></ul><ul><li>Non-Exclusive </li></ul><ul><li>Non-Compete Clause ...
The RPR Difference <ul><li>No   Consumer Access </li></ul><ul><li>No   Paid Subscriptions </li></ul><ul><li>No   Data from...
RPR Blog <ul><li>Timely posts about RPR programs and opportunities </li></ul><ul><li>Interactive MLS Partners map </li></u...
Thank you. http:// blog.narrpr.com
2010 Leadership  Academy Project
CENTER Report Doug Andrews CENTER Trustees President
Certification of  New MAR Directors Chuck Livieri, GRI   Credentials/Elections Committee Chair
Induction of  New MAR Directors La Nora Kay, CIPS, CRS, GRI 2011 President Elect
Credentials/Elections Committee Report <ul><li>Chuck Livieri </li></ul>
Recognition of  2011 NAR Directors
2012 MAR Officers Election <ul><li>Candidates for 2012  </li></ul><ul><li>Missouri Association of REALTORS ®  Treasurer </...
Ballot <ul><li>Vote for one </li></ul><ul><li>  </li></ul><ul><li>#2 Jim Gamble </li></ul><ul><li>  </li></ul><ul><li>  </...
President’s Report Joyce Thomas
Transfer Tax Campaign  83.7%
2010 NAR Conference
Elizabeth Mendenhall Elizabeth Mendenhall Vice President and Liaison to Committees for NAR
RPAC Rally Take the Challenge on June 4th, 2011
President’s Report
2011 PAGs
President’s Report
CEO’s Report R. Dennis McClelland  CAE, RCE, CMP, ePRO ®
Staff Introduction <ul><li>Amy Henderson, J.D., senior vice president and director of legal services </li></ul><ul><li>Sta...
<ul><li>Ron Phipps, NAR president </li></ul><ul><li>Joyce Thomas, MAR president </li></ul><ul><li>Presidents of 37 local b...
REALTOR ®  Trademark  <ul><li>REALTOR® Trademark Video </li></ul>
Home Ownership Matters <ul><li>Home Ownership Matters Commercial </li></ul>
Ron Phipps Town Hall <ul><li>Virtual town hall Monday, Jan. 24, 3 p.m. ET with 2011 NAR President Ron Phipps </li></ul><ul...
Fingerprinting Update <ul><li>New MREC requirement </li></ul><ul><li>Digital, 10-minute process </li></ul><ul><li>44 locat...
Treasurer’s Report <ul><li>Sharon Keating, ABR, CRS, GRI, SRES </li></ul><ul><li>2011 Treasurer </li></ul>
Committee Reports/Motions <ul><li>La Nora Kay </li></ul><ul><li>Recommendations from Jan. 21, 2011, </li></ul><ul><li>Exec...
Executive Committee  Motion #1 <ul><li>To approve $135,000 from Unrestricted Net </li></ul><ul><li>Assets to fund a campai...
Motion #2 <ul><li>To approve up to $20,000 from Unrestricted </li></ul><ul><li>Net Assets for redesigning MAR’s website. <...
Motion #3 <ul><li>That the Association oppose any action that </li></ul><ul><li>would impose a sales tax on service. </li>...
Motion #4 <ul><li>That the Association oppose any action that </li></ul><ul><li>would impose a sales tax on real property ...
Motion #5 <ul><li>That the Association, acting through the Executive </li></ul><ul><li>develop and execute an action plan ...
Motion #6 <ul><li>To support HB 35, HB 46, HB 86, HB 90, HB </li></ul><ul><li>108, HB 122, SB 61, SB 108 (page 1 and 2 of ...
Motion #7 <ul><li>To oppose HB 152, HJR 8 and SJR 1 (page 3 </li></ul><ul><li>of the bill packet (green sheet)) </li></ul>...
Motion #7a <ul><li>To spend from unrestricted net assets the sum </li></ul><ul><li>of $135,000 for start-up money for a co...
Motion #8 <ul><li>Article XII. Reserves </li></ul><ul><li>Section 1. Legal Action Reserve Fund.   </li></ul><ul><li>Unless...
Motion #8 (con’t)
Motion #8 (con’t) <ul><li>Article XII. Reserves </li></ul><ul><li>Section 2. Repair and Replacement Reserve Fund.   </li><...
Motion #8 (con’t)
Motion #8 (con’t)
Motion #8 (con’t) <ul><li>Article XII. Reserves </li></ul><ul><li>Section 4. Allocation of Investment Income.   </li></ul>...
Motion #8 (con’t) <ul><li>Article XII. Reserves </li></ul><ul><li>Section 5. Creation of Reserves. </li></ul><ul><li>(a) T...
Motion #8 (con’t) Executive Committee recommends a YES Vote.
Motion #9
Motion #9 (con’t) Executive Committee recommends a YES Vote.
New Business &  Adjournment <ul><li>Next BOD meeting: April 21, 2011 </li></ul><ul><li>Hilton Convention Center, Branson <...
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  • Thank you to all those who attended Capitol Conference on Wednesday. We had a large group, over 350 Realtors. Several first time attendees who were able to watch and learn about the power of the Realtor Party on Capitol Hill. This is a vital part of our work for each and every member of this Association.
  • Our victory on Amendment 3!!!! 83.7% of the voters voted yes to no more taxes on amendment 3. That was the largest win on any Initiative Petition ever! The total of the 5.6 million dollar investment in the campaign was a 50/50 share with NAR. Missouri Association paid 2.8 Million, so thank you to NAR! Thank you to all the local boards for your inspiring, energetic and unbelievable commitment to changing our industry and the landscape of the state. We cannot relax now. More attacks on the benefits of property ownership are up ahead and we must be ready!!
  • National Association of Realtors convention was held in New Orleans in November. There were many highlights there for the state of Missouri. We were awarded the Triple Crown award for meeting our RPAC Fund raising goals!! 2010 was the first year for the President’s Cup award from NAR. We came very, very close to achieving that award level. We achieved 5 of the 6 goals for the President’s Cup, so this is the year we can reach all 6!! LaNora Kay, Sharon Keating and I made a presentation on our Amendment 3 Campaign to the State Presidents group. We saw James Elcock receive his Good Neighbor Award, Bruce Aydt, Doug DeVitre, and Charlie Dahlheimer were all honored by REBAC for their outstanding service. And of course our NAR Board of Directors was held and attended by our Missouri members and directors. The report was sent to all MAR directors and is also available on Realtor.org.
  • and our very own Elizabeth Mendenhall was installed as Vice President and liaison to committees for NAR. Congratulations to all who received such honors from our national association
  • In 2010 we held our first ever Ride for the American Dream. We raised over $22,000 for RPAC!! This year’s ride will be held in the summer on June 4, 2011. So mark that date down when we will ride for the American Dream!
  • Your leadership team traveled to many of our local boards during November and December for your Installation Banquets! It was truly enjoyable to be able to visit with local leaders and be a part of your environment. That bring us to this first meeting of 2011. This year we have lots of things in progress. Implementation of our Early Warning System per the Strategic Plan is beginning. Our 2 new committees met for the first time here at this meeting, RPIC and Communications. Their reports are included in your motions packet.
  • 3 new pags this year are the Missouri Good Neighbor award, Community Development, and Risk Management. Our NAR Regional Vice President, Alan Huffman, will be visiting with us in April and September for updates on our Region. (Missouri, Kansas, Oklahoma and Arkansas) Hats off to the winners of the REALTORs Got Talent competition last night. That concludes my President’s report and I would call on R. Dennis McClellan, for his CEO report.
  • Your leadership team traveled to many of our local boards during November and December for your Installation Banquets! It was truly enjoyable to be able to visit with local leaders and be a part of your environment. That bring us to this first meeting of 2011. This year we have lots of things in progress. Implementation of our Early Warning System per the Strategic Plan is beginning. Our 2 new committees met for the first time here at this meeting, RPIC and Communications. Their reports are included in your motions packet.
  • Jan 2011 Board of Directors Meeting

    1. 1. Follow MAR Online! <ul><li>Facebook </li></ul><ul><li>Twitter </li></ul><ul><li>Flickr </li></ul><ul><li>LinkedIn </li></ul><ul><li>SlideShare </li></ul><ul><li>YouTube </li></ul>Click on the icons on our home page.
    2. 2. Board of Directors Meeting Friday, Jan. 21, 2011 Capitol Plaza Hotel Jefferson City, Mo.
    3. 3. Call to Order <ul><li>Joyce Thomas, ABR, CRS, ePRO ® , GRI </li></ul><ul><li>2011 MAR President </li></ul>
    4. 4. Pledge of Allegiance <ul><li>Miles Noennig </li></ul><ul><li>Greater Springfield Board of REALTORS ® </li></ul>
    5. 5. Approval of Parliamentarian <ul><li>W.B. ‘Bart’ Tichenor, J.D., PRP </li></ul>
    6. 6. Approval of Agenda <ul><li>Joyce Thomas </li></ul>
    7. 7. Approval of Minutes & Bylaws <ul><li>Approval of Oct. 1, 2010 Board of Directors meeting minutes </li></ul><ul><li>Approval of bylaws revisions </li></ul>
    8. 8. Bylaws Revisions
    9. 9. Bylaws Revisions (con’t)
    10. 10. Bylaws Revisions (con’t)
    11. 11. Presentations <ul><li>Real Property Resource </li></ul><ul><ul><li>Ohan Antebian </li></ul></ul><ul><li>2010 Leadership Academy Project </li></ul><ul><ul><li>Sean Moore </li></ul></ul><ul><li>Professional Standards Seminar </li></ul><ul><li>CENTER Report </li></ul><ul><li>Doug Andrews </li></ul>
    12. 12. RPR Progress Report Missouri Association of REALTORS® Realtors Property Resource™
    13. 13. <ul><li>“ To provide a comprehensive, catalogued database of real estate information on every parcel of property in the United States.” </li></ul>RPR Mission Statement Realtors Property Resource
    14. 14. What is RPR? <ul><li>RPR is a national repository of… </li></ul><ul><ul><li>Parcel-centric property information </li></ul></ul><ul><ul><li>For the exclusive use of REALTOR® members </li></ul></ul><ul><ul><li>Delivered through a cutting edge application </li></ul></ul><ul><ul><li>At no charge to REALTORS® </li></ul></ul>Realtors Property Resource
    15. 15. <ul><li>Publicly traded company? No </li></ul><ul><li>Partnership with third party vendors? No </li></ul><ul><li>Joint Venture project? No </li></ul><ul><li>100% owned by NAR’s Members? Yes </li></ul><ul><li>Any and all return from NAR’s investment in RPR’s technologies, including any revenues, are for the sole benefit of NAR’s members </li></ul>Who Owns the RPR? Realtors Property Resource
    16. 16. RPR MLS Markets Realtors Property Resource
    17. 17. RPR Key Milestones Realtors Property Resource <ul><li>What’s next? </li></ul><ul><ul><li>Broker Tools </li></ul></ul><ul><ul><li>Commercial </li></ul></ul><ul><ul><li>Appraisers </li></ul></ul><ul><ul><li>MLS/Associations </li></ul></ul><ul><ul><li>100% of REALTORS® </li></ul></ul><ul><ul><li>launched in 2011 </li></ul></ul>
    18. 18. <ul><li>Data Analysis </li></ul><ul><li>Branding </li></ul><ul><li>Affiliated Services Promotion </li></ul><ul><li>Delegated Servicing </li></ul><ul><li>Communication and outreach </li></ul><ul><li>Core service integration </li></ul>RPR Broker Tool Sets Realtors Property Resource
    19. 19. RPR Commercial <ul><li>Charlotte Region Commercial Board of REALTORS® been selected to lead the beta process, with participation from commercial members in other beta sites </li></ul><ul><li>Development process similar to the RPR Mobile Game Changer challenge: </li></ul><ul><ul><li>Collaborative assessment of available data and tools by the task force </li></ul></ul><ul><ul><li>Search application design focus group </li></ul></ul><ul><ul><li>Report design and prototyping, with emphasis on retail and psychographic data (similar to CCIM STDB) </li></ul></ul><ul><ul><li>Incorporation of task force feedback, and design iteration </li></ul></ul><ul><ul><li>Build out during Summer, 2010 </li></ul></ul><ul><ul><li>Task force becomes initial beta test group </li></ul></ul><ul><li>Begin Beta launch in Q1, 2011 </li></ul>Realtors Property Resource
    20. 20. MLS and Association Dashboard <ul><li>Report generator to provide statistics and trends across the MLS </li></ul><ul><li>On demand reports, charts, graphs </li></ul><ul><li>Exportable in maps, charts, email, lists </li></ul><ul><li>Designed for state and local associations as well as MLSs </li></ul><ul><li>Q1 availability </li></ul>Realtors Property Resource
    21. 21. MLS Datashare Platform <ul><li>MLS data can be shared via RPR with any other participating MLS </li></ul><ul><li>Limited to REALTOR® members of participating MLSs </li></ul><ul><li>Any reciprocal agreements for cooperation and compensations are between the parties </li></ul><ul><li>Can be created or altered at the direction of the MLS at any time </li></ul>Realtors Property Resource
    22. 22. Realtors Valuation Model™ <ul><li>The goal of the RVM is to create the gold-standard automated valuation product, in order to conform underwriter, servicer, and government collateral analysis with a product owned, powered, and provided by REALTORS® </li></ul><ul><li>Market focus on: </li></ul><ul><ul><li>Accuracy: 72% PPE10 </li></ul></ul><ul><ul><li>Data license integrity: Many AVMs contain listing data which is bootlegged from IDX vendors, consumer Web sites, and the MLS </li></ul></ul><ul><li>Available in each market with 90%+ coverage </li></ul><ul><li>Launched at MBA in October </li></ul>Realtors Property Resource RVM testing as of 8/2010, based on 79,000 samples. Results are to scale, but competitor names and percentage labels have been obscured.
    23. 23. Customer Care and Training <ul><li>Support center located in Chicago, IL </li></ul><ul><li>Open 24x7 </li></ul><ul><li>For end-users as well as MLS staff in conjunction with each market launch </li></ul><ul><li>Focused on application support as well as business goal achievement </li></ul><ul><li>Instructor-led and pre-recorded training </li></ul><ul><li>Tightly-coupled online Support Center, knowledge base, and issue management system </li></ul>Realtors Property Resource
    24. 24. Support Center Realtors Property Resource
    25. 25. RPR Data License Contract <ul><li>One Year Agreement </li></ul><ul><li>Non-Exclusive </li></ul><ul><li>Non-Compete Clause </li></ul><ul><li>No data feeds from RPR to any third parties </li></ul><ul><li>Two RPR products </li></ul><ul><ul><li>RVM analytics </li></ul></ul><ul><ul><li>Match and Append </li></ul></ul><ul><ul><li>No listing level, seller level or property detail information </li></ul></ul>Realtors Property Resource
    26. 26. The RPR Difference <ul><li>No Consumer Access </li></ul><ul><li>No Paid Subscriptions </li></ul><ul><li>No Data from listing re-syndicators </li></ul><ul><li>No Fine print </li></ul><ul><li>The data in RPR is owned by the members </li></ul><ul><li>and provided only to the members. </li></ul>Realtors Property Resource
    27. 27. RPR Blog <ul><li>Timely posts about RPR programs and opportunities </li></ul><ul><li>Interactive MLS Partners map </li></ul><ul><li>MLS/CIE Enrollment package </li></ul><ul><li>Interactive FAQ’s </li></ul><ul><li>Weekly schedule of live RPR System demonstrations </li></ul><ul><li>Archived Pre-recorded Demonstration Videos </li></ul><ul><li>RPR e-newsletter </li></ul>Realtors Property Resource blog.narrpr.com
    28. 28. Thank you. http:// blog.narrpr.com
    29. 29. 2010 Leadership Academy Project
    30. 30. CENTER Report Doug Andrews CENTER Trustees President
    31. 31. Certification of New MAR Directors Chuck Livieri, GRI Credentials/Elections Committee Chair
    32. 32. Induction of New MAR Directors La Nora Kay, CIPS, CRS, GRI 2011 President Elect
    33. 33. Credentials/Elections Committee Report <ul><li>Chuck Livieri </li></ul>
    34. 34. Recognition of 2011 NAR Directors
    35. 35. 2012 MAR Officers Election <ul><li>Candidates for 2012 </li></ul><ul><li>Missouri Association of REALTORS ® Treasurer </li></ul><ul><li>  </li></ul><ul><li>  </li></ul>Jim Gamble Kansas City Association of REALTORS ® Gary Nelson Ozark Gateway Association of REALTORS ®
    36. 36. Ballot <ul><li>Vote for one </li></ul><ul><li>  </li></ul><ul><li>#2 Jim Gamble </li></ul><ul><li>  </li></ul><ul><li>  </li></ul><ul><li>#4 Gary Nelson </li></ul>
    37. 37. President’s Report Joyce Thomas
    38. 38. Transfer Tax Campaign 83.7%
    39. 39. 2010 NAR Conference
    40. 40. Elizabeth Mendenhall Elizabeth Mendenhall Vice President and Liaison to Committees for NAR
    41. 41. RPAC Rally Take the Challenge on June 4th, 2011
    42. 42. President’s Report
    43. 43. 2011 PAGs
    44. 44. President’s Report
    45. 45. CEO’s Report R. Dennis McClelland CAE, RCE, CMP, ePRO ®
    46. 46. Staff Introduction <ul><li>Amy Henderson, J.D., senior vice president and director of legal services </li></ul><ul><li>Start date: Feb. 1, 2011 </li></ul>
    47. 47. <ul><li>Ron Phipps, NAR president </li></ul><ul><li>Joyce Thomas, MAR president </li></ul><ul><li>Presidents of 37 local boards/associations </li></ul>2011 Leadership
    48. 48. REALTOR ® Trademark <ul><li>REALTOR® Trademark Video </li></ul>
    49. 49. Home Ownership Matters <ul><li>Home Ownership Matters Commercial </li></ul>
    50. 50. Ron Phipps Town Hall <ul><li>Virtual town hall Monday, Jan. 24, 3 p.m. ET with 2011 NAR President Ron Phipps </li></ul><ul><li>Register online at www.realtor.org </li></ul>
    51. 51. Fingerprinting Update <ul><li>New MREC requirement </li></ul><ul><li>Digital, 10-minute process </li></ul><ul><li>44 locations across the state </li></ul><ul><li>Fee: $52.20 </li></ul><ul><li>Available today until 5:00 p.m. </li></ul><ul><ul><li>By appointment only </li></ul></ul>
    52. 52. Treasurer’s Report <ul><li>Sharon Keating, ABR, CRS, GRI, SRES </li></ul><ul><li>2011 Treasurer </li></ul>
    53. 53. Committee Reports/Motions <ul><li>La Nora Kay </li></ul><ul><li>Recommendations from Jan. 21, 2011, </li></ul><ul><li>Executive Committee meeting regarding MAR committee motions </li></ul>
    54. 54. Executive Committee Motion #1 <ul><li>To approve $135,000 from Unrestricted Net </li></ul><ul><li>Assets to fund a campaign to oppose a sales </li></ul><ul><li>tax on services (a/k/a the “Fair Tax.”) </li></ul>Executive Committee recommends a YES Vote.
    55. 55. Motion #2 <ul><li>To approve up to $20,000 from Unrestricted </li></ul><ul><li>Net Assets for redesigning MAR’s website. </li></ul>Executive Committee recommends a YES Vote.
    56. 56. Motion #3 <ul><li>That the Association oppose any action that </li></ul><ul><li>would impose a sales tax on service. </li></ul>Executive Committee recommends a YES Vote.
    57. 57. Motion #4 <ul><li>That the Association oppose any action that </li></ul><ul><li>would impose a sales tax on real property </li></ul><ul><li>leaseholds or the sale or transfer of any </li></ul><ul><li>interest in real property. </li></ul>Executive Committee recommends a YES Vote.
    58. 58. Motion #5 <ul><li>That the Association, acting through the Executive </li></ul><ul><li>develop and execute an action plan to defeat any </li></ul><ul><li>proposal that would impose a sales tax on services or </li></ul><ul><li>sales tax on real property leaseholds or the sale or </li></ul><ul><li>transfer of any interest in real property. </li></ul>Executive Committee recommends a YES Vote.
    59. 59. Motion #6 <ul><li>To support HB 35, HB 46, HB 86, HB 90, HB </li></ul><ul><li>108, HB 122, SB 61, SB 108 (page 1 and 2 of </li></ul><ul><li>the bill packet (yellow page)) and SB 71 (page </li></ul><ul><li>8 of bill packet (blue sheet)) </li></ul>Executive Committee recommends a YES Vote.
    60. 60. Motion #7 <ul><li>To oppose HB 152, HJR 8 and SJR 1 (page 3 </li></ul><ul><li>of the bill packet (green sheet)) </li></ul>Executive Committee recommends a YES Vote.
    61. 61. Motion #7a <ul><li>To spend from unrestricted net assets the sum </li></ul><ul><li>of $135,000 for start-up money for a committee </li></ul><ul><li>to be organized to oppose sales tax on </li></ul><ul><li>services and/or a sales tax on real property </li></ul><ul><li>leaseholds or the sale or transfer of any </li></ul><ul><li>interest in real property. </li></ul>Executive Committee recommends a YES Vote.
    62. 62. Motion #8 <ul><li>Article XII. Reserves </li></ul><ul><li>Section 1. Legal Action Reserve Fund. </li></ul><ul><li>Unless otherwise determined by the Board of Directors, each annual budget shall allocate not </li></ul><ul><li>less than $25,000 to the Legal Action Reserve Fund (hereinafter known as the “LA Reserve”) </li></ul><ul><li>until such time as the LA Reserve reaches $300,000 (hereinafter known as the “Funding </li></ul><ul><li>Level”). If the LA Reserve falls below the Funding Level, unless otherwise determined by the </li></ul><ul><li>Board of Directors, each annual budget thereafter shall allocate not less than $25,000 to the </li></ul><ul><li>LA Reserve to replenish the LA Reserve to the Funding Level. The Board of Directors may, at </li></ul><ul><li>Any time, allocate additional monies to the LA Reserve up to or over the Funding Level. Any </li></ul><ul><li>monies in the LA Reserve over the Funding Level may be reallocated at any time by the Board </li></ul><ul><li>of Directors to any other fund, reserve or otherwise, of the State Association. Interest income </li></ul><ul><li>allocation and other income from the investment of the LA Reserve shall accrue to and </li></ul><ul><li>become a part of such LA Reserve up to and above the Funding Level. The specific purpose </li></ul><ul><li>of the LA Reserve is the prosecution or defense of lawsuits brought by or against the State </li></ul><ul><li>Association or its officers, or, when determined appropriate by the Board of Directors, one or </li></ul><ul><li>more members of the State Association. (2005) </li></ul>
    63. 63. Motion #8 (con’t)
    64. 64. Motion #8 (con’t) <ul><li>Article XII. Reserves </li></ul><ul><li>Section 2. Repair and Replacement Reserve Fund. </li></ul><ul><li>Unless otherwise determined by the Board of Directors, each annual budget shall allocate not </li></ul><ul><li>less than $20,000 to the Repair and Replacement Reserve Fund (hereinafter known as the </li></ul><ul><li>“ RR Reserve”) until such time as the RR Reserve reaches $200,000 (hereinafter known as the </li></ul><ul><li>“ Funding Level”). If the RR Reserve falls below the Funding Level, unless otherwise </li></ul><ul><li>determined by the Board of Directors, each annual budget thereafter shall allocate not less </li></ul><ul><li>than $20,000 to the RR Reserve to replenish the RR Reserve to the Funding Level. The </li></ul><ul><li>Board of Directors may, at any time, allocate additional monies to the RR Reserve up to or </li></ul><ul><li>over the Funding Level. Any monies in the RR Reserve over the Funding Level may be </li></ul><ul><li>reallocated at any time by the Board of Directors to any other fund, reserve or otherwise, of </li></ul><ul><li>the State Association. Interest income allocation and other income earned from investment of </li></ul><ul><li>the RR Reserve shall accrue to and become a part of such RR Reserve up to and above the </li></ul><ul><li>Funding Level. The specific purpose of this reserve is to provide a fund to repair or replace the </li></ul><ul><li>headquarters building, its furniture (including Office and all other Production Equipment), </li></ul><ul><li>fixtures, and grounds improvements thereon and to provide for any necessary future </li></ul><ul><li>expansion of the headquarters building. (2005) </li></ul>
    65. 65. Motion #8 (con’t)
    66. 66. Motion #8 (con’t)
    67. 67. Motion #8 (con’t) <ul><li>Article XII. Reserves </li></ul><ul><li>Section 4. Allocation of Investment Income. </li></ul><ul><li>Investment income accrual to the Reserve Accounts shall be determined by the State </li></ul><ul><li>Association CFO (Chief Financial Officer) after December 31 each year and before the annual </li></ul><ul><li>audit. All investment income during the fiscal year shall be reflected in the investment income </li></ul><ul><li>line item of the current year's budget. Investment income shall be apportioned as follows. </li></ul><ul><li>(2007) </li></ul><ul><li>  </li></ul><ul><li>The total fund balance of the State Association shall constitute one hundred percent (100%), </li></ul><ul><li>with the balances in the appropriate Reserve Accounts constituting a percentage of the total </li></ul><ul><li>fund balance. This percentage shall be figured based upon each appropriate Reserve balance </li></ul><ul><li>as of December 31 annually. </li></ul><ul><li>  </li></ul><ul><li>The percentage representation to the total fund balance of the appropriate Reserve Accounts </li></ul><ul><li>will then be applied to the total investment income then accrued to the specific Reserve </li></ul><ul><li>account. (2005) </li></ul>
    68. 68. Motion #8 (con’t) <ul><li>Article XII. Reserves </li></ul><ul><li>Section 5. Creation of Reserves. </li></ul><ul><li>(a) The creation of special purpose or “temporary” Reserves, as recommended by the Finance </li></ul><ul><li>Committee, shall require the majority vote of the Executive Committee. The use of Reserves, </li></ul><ul><li>which restricts the budgetary controls normally exercised in daily accounting and required by </li></ul><ul><li>Generally Accepted Accounting Standards and Practices, shall be limited. </li></ul><ul><li>  </li></ul><ul><li>(b) Special purpose or “temporary” Reserves shall include firm “sunset” provisions as </li></ul><ul><li>recommended by the Finance Committee and approved by majority vote of the Executive </li></ul><ul><li>Committee. </li></ul><ul><li>  </li></ul><ul><li>(c) The creation of permanent Reserves, as recommended by the Finance Committee, shall </li></ul><ul><li>require the majority vote of the Executive Committee. The use of additional permanent </li></ul><ul><li>Reserves shall be severely limited due to the loss of budgetary controls normally exercised in </li></ul><ul><li>daily accounting and required by “Generally Accepted Accounting Standards and Practices”. </li></ul><ul><li>(2005) </li></ul>
    69. 69. Motion #8 (con’t) Executive Committee recommends a YES Vote.
    70. 70. Motion #9
    71. 71. Motion #9 (con’t) Executive Committee recommends a YES Vote.
    72. 72. New Business & Adjournment <ul><li>Next BOD meeting: April 21, 2011 </li></ul><ul><li>Hilton Convention Center, Branson </li></ul>
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