| 1)
Call to Order & Welcome |
The
meeting was called to order at 10:45 a.m. by Ann Burstein
Cohen, FAE President. She introduced Jeffrey Haber
who was meeting with the FAE Board for the first time
in person.
|
| 2)
Approval of Minutes of FAE Conference Call of May 14,
2008 |
Upon
a motion made by Scott Jaffee, seconded by Cheryl
Cornwell, the minutes of the FAE Board of meeting
of September 4, 2008 were approved pending a correction
to show Mr. Haber voting against the policy to allow
students to attend the Banking Conference at a discount;
the correction in the spelling of Cheryl Cornwell’s
name. Subject to those changes the minutes were unanimously
approved by the Trustees.
|
| 3)
POP Passes |
Mr.
Schmelkin presented an update on POP sales noting
that $11,700 had been sold between September 4th and
18th representing 10% of the prior year’s total
sales. He then presented an analysis of the Individual
POP purchases deductions between 2007 and 2008. Out
of a total of ninety
one people who did not renew 32 (35%) were CPA’s
in industry and 31 (34%) were people 55 and over.
He reported an overlap of 11 between those two categories.
Trustees suggested additional marketing to chapter
locations emphasizing how POP could provide access
to many classes offered thru out the state at significant
savings. Mr. Schmelkin was asked to provide analysis
of POP purchases by chapter location as well as total
registrations not using POP.
|
| 4)
Financial Statement |
Suvro Banerjee, Controller, reviewed the financial
statements through July 31st explaining variances
for budget. The Trustees recognized the need to view
July and August results together for a better picture
of CPE season. Mr. Banerjee pointed out that FAE was
still running close to last year which was the best
year in recent history. He expects to provide August
results by October.
|
| 5)
Attendance |
Mr.
Schmelkin reviewed FAE attendance for the summer as
well as a break down by chapter location. The data
shows approximately the same number of programs for
the current and prior year with a slight decrease
in attendance, mainly in New York City.
|
| 6)
Student Discounts |
The
FAE Board resumed discussion of a policy for student
discounts at Society conferences. After extensive
debate, the Trustee concluded that there was no real
interest on the part of students to attend nor should
FAE encourage dilation of the CPA audiences. Accordingly
there was no additional motion for student discounts.
The Board asked Mr. Schmelkin to report back if inquiries
arise in the future.
|
7)
FAE Curriculum Committee
|
Mr. Jaffee
gave an update on the formation of the FAE Curriculum
Committee and invited the FAE Trustees to participate
in the committee’s discussion even if they were
not serving as a member. He asked Mr. Schmelkin to
circulate the conference call information for any
Trustee who decided to dial in on September 25th.
|
8)
Scholarship/
Fundraising |
Ann
Burstein Cohen reported on scholarship and fundraising
activities. More information would be discussed at the
next meeting. The FAE Board agreed without exception
to go into executive session. No results or actions
resulted from the executive session. |
| 9)
Meeting Dates |
Ann
Burstein Cohen announced that tine next meeting of
the FAE Board would be on November 20th followed by
December 16th, dealing with the curriculum and topics
for 2009-10 and the budget for 2009-10 respectively.
|
| 10)
Adjourn |
There being no further
business, upon a motion made by E. Martin seconded by
Daniel Fordham, the meeting was adjourn at 1:10 p.m. |
