Women's Bar Association Foundation Board Meeting Minutes, 1996 V. May

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May Women's Bar Association Foundation Board Meeting Minutes, 1996 [1] (1996)

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Women's Bar Association Foundation
Minutes of May 14, 1996

Meeting Commenced: 7pm

Attendees: Jennifer Porter, Debbie Israel, Martha McQuade,
Nancy Long ex-officio), Marjorie Reeder, Denise Wilson-Taylor, Gwen
Simmons, Grace Speights, Juliana Schulte O'Reilly, Grace Parke-
Fremlin (joined at 7:07pm) and Arlene Leland (joined at 7:10pm).

1. Minutes

A. The minutes for April will be presented at next meeting.

II. Finance Committee Report

A. The Finance Committee held a meeting which was
attended by: Gwen Simmons, Jennifer Porter, Susan
Stewart and Marjorie Reeder.

B. The Committee made certain recommendations in its
written report attached hereto. Most notability the
Committee recommended that the WBAF keep $4,000
in its operating account subject to a review of the
books. The recommended minimum would be set up
after this year's grants are paid. The Committee also
recommended a stock/bond split recommendation of
70%/30% with 60% of the funds invested in Janus Fund
(stocks) because of its historical performance, 10% of
Rowe (stocks) and the 30% bond investment will be in
Federated Bond Fund. The purpose for the 70/30 split is
long-term investment.

C. Jennifer Porter reminded the Board that it had
previously delegated authority to the Finance
Committee to make and execute investment decisions.

Ill. Treasurer's Report

A. The report spans 3 months (Feb., March, April). A copy
of the Report is attached.