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Governance

MINUTES OF: FAE Board of Trustees Meeting
DATE OF MEETING: Thursday, October 7, 2004
LOCATION: Meeting Held Via Conference Call
TIME MEETING CONVENED: 2:35 p.m.
TIME MEETING ADJOURNED: 2:50 p.m.

PRESIDING OFFICER: Jeffery R, Hoops, President
MEMBERS PRESENT: Stephen F. Langowski, Secretary
Franco Strangis
Alan T. Frankel
Louis Grumet, Executive Director
Gail M. Kinsella


MEMBERS EXCUSED: Sharon Sabba Fierstein
Ilene L. Persoff
MEMBERS ABSENT: John J. Kearney, President-Elect
Jeffrey M. Rosenbaum
STAFF PRESENT: Alan Schmelkin
James A. Woehlke


Minutes

0) Call to Order

President Hoops called the meeting to order at 2:35 p.m.

1) Pay-One-Price (“POP”) Program

Mr. Hoops noted that the purpose for the call was to decide whether to continue the POP program for the 2004-2005 CPE year and on what terms. He turned to Mr. Schmelkin for a report of the 2003-2004 POP results. Mr. Schmelkin reviewed the history of the POP program. During the 2003-2004 period, member coupon books were priced to give members 10 days of CPE for $110 per day. Firm books were priced slightly higher at $160 per day for 10 days of CPE. He reported that book sales had dropped a bit from the previous year, but that POP remained a very popular program.

Mr. Schmelkin reminded the trustees that other than the $25 charge added in 2003-2004 for conferences to offset the cost of lost booklets, the price for POP books had not been increased since the $100 increase put in three years previously. He recommended that the price for the 2004-2005 year be increased as follows:

Member books No Change
Nonmember books No Change
Company books Increase from $1, 695 to $1,995

and that FAE continue to offer an early-bird discount of $100 for books purchased before December 31.

Following discussion, Mr. Langowski moved and Mr. Strangis seconded, a motion to continue the POP program, including the early-bird discount, and increase the pricing as recommended by Mr. Schmelkin. The motion carried unanimously.

2) Date of Next Meeting

The trustees, by consensus, set their next meeting for November 15 at 10:00 a.m.

3) Adjournment.

There being no further business, the meeting adjourned at 2:50 p.m.


Respectfully submitted,

Stephen F. Langowski, Secretary


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