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Affiliation Agreement Between the NYSSCPA and
FAE
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Mr.
Moynihan stated that, since the May 21, 2010, executive
committee conference call, he had received feedback from
several members regarding the affiliation agreement between
the NYSSCPA and FAE. In particular, he noted that Mr.
Huttlinger had felt that the committee had not spent
sufficient time reviewing and discussing the nature of
the affiliation agreement itself. Instead, the majority
of the time previously spent had centered on the co-borrowing
arrangement and indemnification clause.
Mr.
Moynihan asked how long FAE had been affiliated with
the NYSSCPA. Mr.
Schmelkin responded by providing a brief
history of FAE and its 38-year relationship with the NYSSCPA,
which included the fact that the last time the NYSSCPA
had a detailed examination of its relationship with FAE
was during
the tenure of Ms. Nancy Newman-Limata as president of the
NYSSCPA during 2001/2002, when discussions were held relating
to the Society’s strategic plan and the potential
relocation of the Society’s office and its impact
on space for FAE’s operation. Subsequent to that,
the relationship between the NYSSCPA and FAE was next discussed
when the first
affiliation agreement was created in 2005.
Mr.
Meinberg stated that he would not want to rush into a
new agreement
and that it would be prudent for the executive
committee to review the relationship between the NYSSCPA
and FAE further.
Mr.
Lesser moved to rescind the motion regarding the approval
of the affiliation agreement between
the NYSSCPA
and FAE
that was approved by the executive committee on May
21, 2010, and Mr. Adair seconded the motion. After discussion,
the
motion passed unanimously with no abstention.
Mr.
Stubbs moved to approve the revised affiliation agreement
between
the NYSSCPA and FAE for a period
of one year,
expiring on May 31, 2011, and Mr. Huttlinger seconded
the motion.
After discussion, the motion passed unanimously with
no abstention.
Mr.
Adair moved to authorize the President of NYSSCPA to
create a task force, with membership that
would
not consist
of members of the FAE Trustees, and whose charge
would be to review the existing relationship between
the
NYSSCPA and
FAE and to provide a report of its finding to the
executive committee no later than its November
18, 2010, meeting,
and Mr. Meinberg seconded the motion. After discussion,
the motion
passed unanimously with no abstention.
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EC10
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Executive Session
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Mr. Adair moved to enter into the executive
session, and Mr. Herman seconded the motion. There being
no objection, an executive session was held between 10:18
a.m. and 10:27 a.m. Mr. Moynihan invited staff to participate
in the executive session. At the conclusion of the executive
session, Mr. Adair moved to adjourn the executive session,
and Mr. Herman seconded the motion. There being no objection,
the executive session was adjourned.
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