Minutes from Union Executive Committee Meeting

Present – Michael Abraham, Prince Charles Alexander, Dennis Cecere, Peter Cokkinias, Beth Denisch, Rich Grudzinski, Danny Harrington, Jeff Perry, Wendy Rolfe, Jackson Schultz, Will Silvio.

Guests: Haidee Morris and Greg Lee.

1. Jackson opened the meeting. We are here to discuss the finances of the Union. Greg Lee made a presentation on a possible financial investment strategy for the excess funds in the Union account. We need to go slow make sure we are doing everything correctly and have the best interest of the Union in mind. Greg can help us find appropriate investments that make money when the market goes up and when the market goes down. We can have several segments of money: long term, medium term, and short term. 
    
2. Are we bonded? What about liability insurance for us individually? We will have a full faculty meeting in the fall to discuss some of the financial issues: investing, stipends, etc.
    
3. We need to create an Investment Policy Statement with roles, responsibilities, and procedures and amend the constitution to let the committee have the power to make the investments. 
    
4. We need to look at the goals of this investment strategy. The strength of any organization is in it finances. We will be using excess money for crisis management, consultants, etc. We are mainly looking for growth in our surplus.