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January Women's Bar Association Foundation Board of Directors Meeting Minutes, 2000 [1] (2000)

handle is hein.peggy/wbafdmm0001 and id is 1 raw text is: MINUTBS OF THE BOARD OF DIRECTORS THE WOMEN'S'BAR ASSOCIATION FOUNDATION January 11, 2000 ;' The meeting-was convened by President Deborah Costlow a.'. he a offices of Arent F0.x Kintner Plotkin & Kahn, 1050 Connecticut Aver, iij Washipngtmn, DC. 20036.. Preseint were: Martha McQuade, Terri McField, Sandra H. I DC e ,Petro,' Maria PeUgipii ,GjQria -R. Sulton, and Vicky McEneney (by telepi6o i: S n St, Charter Financial was alsorin attendance. MINUTESi( ELAST MEETING'. The minutes of the Novembr4,. 1999,;r Yg C7.err approved as submitted. (Item 1) :REASUJRER'S REPORT: The'Treasurer submitted the Opefg'for. 86c 5/00.as adjusted.by the.Board at the November 1999 meeting. The Bufget was prved without further amendment. (Item 2a) - , he-Treasureralso presented a Profit and Loss Statements coytfrinqNovember 1999- January 1 1,,.1100 (Items 42b & 2c); SolomonSmith Barney'inancial Ma%1166nnf Account -.Statement for-thepeniod November 29 - December 31, 1999 (I1tem 2c); theCharter Financial Advisory Fee Statements for December 1999 and January 2000 (items' 6-82f); and the Charter Financial Group Quarterly Performance Report for September 30,f'1 999 - December 3 1 999 (Item 2g). 1. Investment Policy - As a follow-up to a discussion at the prior Board meeting, the • --Treasurerfecom mended that the Investment Policy of the Foundatioh for the portfolio at ,Charter-Financial be changed to reflect a mix of investments ctoser to70% in common stocks and 30%.in fixed income assets. The prior policy recommended a mix Of approximately 60%, common stocks and 40% fixed income assets. Susan Stewart of Charter Financial presented her report (Item 2g) and reviewed the holdings and the performance of the investment portfolio over the past year. She was comfortable.with,tho, chang9, in the ratio of investments, as the currnt hbfding6 in theport reflect that approximate 70/30 mix at 12/31/99, caused primarily by the growth in the stock market, while the fixed assets remained flat. The Board voted unanimously to adopt the -76 envestment mix proposed by Treasurer. .2. Transfer from Operating Account - The Board alto voted to maintain . approiimately $30,000 in the SWImonSmithBarney account to use for operations, and to ' transfer the remainder into the Charter Financial account. As a corollary to-this policy, the. Board asked the Treasurer to contact Bank of America about establishing a $5,000-10,000 line of credit in case of emergency. OLD BUSINESS:

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