UNIT 254 BOARD MEETING MINUTES—JULY 20, 2018
PRESIDENT SHERRY MCHARG CALLED THE MEETING TO ORDER
- Present: Sherry McHarg; Victor Bremson (via Skype); Patricia Herrera (via Skype); Mary Seggerman, Colleen Berk, Gerdur Kristjansdottir
- Victor read the minutes from the March 4, 2018 meeting, which were approved as read.
- TREASURER REPORT—SHERRY (ACTING AS TEMPORAY TREASURER)–Sherry reported that the Unit funds have been moved from Banbajio to CIBanco to earn 6.6%. Mary Seggerman and Sheryl McHarg are named on this account. The updated P & L is provided as follows:
BALANCE IN BANK AS OF LAST ACCOUNTING: $41,040 PESOS
INCOME: $80,000 PESOS FROM UNIT 173 FOR EQUITABLE SHARE OF ASSETS from Unit 173*
INCOME FROM REGIONAL: $22,515.07 PESOS
INTEREST INCOME: $2,035
TOTAL WITHDRAWN FROM BANBAJIO TO SET UP NEW ACCOUNT AT CIBANCO= $145,590.25 PES0S
- $10,000 PESOS PAID TO BRIDGE STUDIO FOR CLOSING DURING 2018 REGIONAL
- $2,227 PAID TO ACBL FOR STAC FEES for the Bridge Studio—JUNE 2018
NEW BANK BALANCE IN CIBANCO @6.6% = $133,380 (approximately $6,690 USD)
*Note: As per the ACBL Handbook of Rules and Regulations, If a Unit is divided so as to form a second Unit, assets of the original Unit are subject to division on an equitable basis. If an equitable division of assets cannot be reached voluntarily by the parties and mediation by the District fails, both parties shall submit to binding arbitration. All costs for the arbitration process shall be paid for from Unit funds
Unit 173 has also signed an agreement that SMA Unit 254 may use equipment owned by Unit 173 at no charge when needed for tournaments.
- NOMINATION TO FILL THE ADDITIONAL BOARD POSITION: Two names were placed in nomination to fill the additional board position: Liz Jacobson and Gonzalo Herrera. Liz was elected to this position by a majority vote. We thank Gonzalo for his willingness to serve.
- UPDATE ON SECTIONAL—MARY SEGGERMAN
The 2018 Sectional will be held on February 7-10 at the Bridge Studio. Mary has secured the sanction and will update the Unit website: www. sanmiguelbridge.com.
- Victor Bremson thanked Sherry McHarg for her diligence and hard work with District 16 on successfully securing the equitable share of Unit 173’s assets for our SMA Unit. Mary Seggerman seconded that noting that without her dogged persistence this would not have happened.