2014 Trust Fund Report

Lenny Rogers stated we have 3 separate trust fund accounts.

One is the money market account that money was recently taken out of. Charlotte 88 funds are leftover from that meeting. It has fluctuated over the years and is now rising. It rose by 12% in 2003 and 4% recently in the past few months.

We have 2 different endowments. They are the program and awards endowment and the income account that pays some of the DSA and AA award monies. It has risen as well.

The youth scholarship endowment has risen.

Money market is listed on the green sheet and he will not pass it out at the business meeting.

Gail Smith is the accountant.

He recommends from the trust fund committee to use wise and diligent fund management and to increase sponsorship money and reduce expenses when possible.

We will take out the same amount as last year to cover the meeting. We need to be diligent in order to allow our funds to last.

We have not touched the Charlotte 88 funds now for years and it continues to grow.

Tyrone stated that the question came up with a member as to if we should be concerned with the state meeting shortfalls on who we donate to.

Mary researched that right now we are only donating to the Secretary’s Association and when the National Association meeting is held in the South. If another state has given to NC in the past, we give the same amount to them. We did donate to Alabama this year to help them host the meeting. Lenny stated that it is the board’s discretion each year. Maybe a sponsorship committee is needed.

Our sponsorships have gone down over the years. We talked about 1 person doing it, but we decided to keep it the same with the vice president. Cyndi said she feels like the state meeting needs to break even.

Tyrone asked about Horn of Plenty donations. Mary stated that we did not donate to them last year.

Tyrone said he would ask for volunteers at the business meeting to get someone on the sponsorship committee for each program area.