03 – D – 00

Call to Order

03 – D – 1

Approval of Minutes of March 11, 2003, Meeting

Ms. Golden asked committee members for corrections or additions to the minutes of the March 11, 2003, Executive Committee Meeting. There being none, Mr. Grusd moved to approve the minutes as presented, and Ms. Lapidus seconded the motion. The motion passed unanimously.

03 – D – 2

President’s Report

a. Legislative Update

Mr. McCoy gave an update on a meeting held with State Senator LaValle regarding a compromise accountancy bill. He noted that meetings were also held with the New York State Education Department and the Big-Four Coalition.

The Executive Committee then discussed the Society’s draft response to the New York State Regents’ proposed promulgation of rules relating to the definition of unprofessional conduct in the practice of accountancy. The response consisted of a letter from President Golden with attached specific comments addressed to Chancellor Robert M. Bennett.

Mr. Langowski moved that the Executive Committee approve sending the letter as corrected as amended in the course of the previous discussion, and Mr. Riley seconded the motion. The motion passed unanimously.
Mr. Grumet said that talking points would be drafted based upon the comment letter and sent to the entire membership with the request that members prepare original letters and send them to the Regent from their area of the state. Key contact persons would also be specifically approached. This approach was approved without objection.

The Executive Committee then discussed a May 12, 2003, letter to David Nocenti, legislative counsel to Attorney General Spitzer, over Mr. Grumet’s signature regarding the attorney general’s accountancy reform proposal.

President-elect Hoops congratulated Mr. McCoy on an excellent job as Chair of the Legislation Task Force. Several committee members echoed Mr. Hoops' sentiments.

Mr. Grumet also reported on a bill, S.3405-A, passed out of Senator LaValle’s committee, that would touch upon some of the reforms the Society had sought for the State Board for Public Accountancy to all state boards. Specifically, the bill would permit all state boards by a ¾ vote to set standards in their area; change the appointment process used for state boards, which currently was controlled entirely by the Regents in theory and the State Education Department staff in actuality, to require the Assembly, the Senate, and the Governor each to appoint one-third of the boards’ members; and would require two of fifteen members to be from the public.

b. Real Estate Task Force Update

Mr. Grumet updated the Committee on the Society’s upcoming office relocation. He noted that two properties had emerged as viable options, both in the vicinity of Park Avenue and 34th Street.

c. Leadership Conference Update

Mr. Hoops gave a brief update of the upcoming leadership conference.

d. AICPA Governance Task Force

The matter was deferred.

e. AICPA Specialty Recertification

The matter was deferred.

f. Committee Chair Orientation Update

The matter was deferred.

03 – D – 3

Executive Director Report

a. Dues Update

Mr. Grumet provided a brief update on dues collection, which was running at approximately the same rate as for the current year.

b. FAE Update

This was included in the Treasurer’s report.

c. Insurance Update

The committee was referred to the materials accompanying the agenda.

03 – D – 4

Treasurer’s Report

Financial statements for period ending April 30, 2003

Ms. Chambers presented the Treasurer’s Report in Mr. Aquilino’s absence. She noted that combined NYSSCPA and FAE income for the period ending April 30, 2003 was $1,009,493, as compared to $74,056 in 2002. In this respect, income was $409,687 ahead of budget. Cash and equivalents stood at $1,422,135 as opposed to $783,370 in the previous year. Overall, Ms. Chambers stated that the Society was in good shape and she projected that the Society would carry forward a surplus into the year-ending May 31, 2003.

Mr. Grumet added that FAE in particular was running ahead of last year.

03 – D – 5

Chapter Expenditure Policy

The matter was deferred.

03 – D – 6

Status of Bylaws Proposal

Mr. Woehlke noted that the bylaws were on track for publication in the June Trusted Professional.

03 – D – 7

Reimbursement Committee Update

The matter was deferred.

03 – D – 8

Membership Report

Mr. Pape presented the Membership Report, which included 102 new members (including 51 new associate members), 7 reinstatements, 32 deaths, and 27 resignations. These changes reflected a total membership of 29,544 as of May 15, 2003.

Mr. Nelson moved to approve the Membership Report, and Mr. Love seconded the motion. There being no objection, the motion passed unanimously.

Mr. Pape noted that Membership Department recently requested the e-mail addresses of all members, which resulted in a surge of 2,000 addresses. Overall, the Society now had 60% of members’ e-mail addresses.

03 – D – 9

Executive Session

03 – D – 10

Adjournment