GUEST: John Austin, Financial Network STAFF MEMBERS PRESENT: Jill Hall A motion to approve the February minutes with revisions was made by George Galasso and seconded by Betty Ball. Motion carried. TREASURER'S REPORT: Report for the month of February was presented by the RSI Treasurer, Rusty Embrey. Mary Barber made a motion to approve the treasurer’s report and Betty Ball seconded the motion. Motion carried.
STANDING COMMITTEES: A. Budget: We are doing very well. We have pre-sold 100 cookbooks by the end of February. The weather cancelled some programs, but still did well. Bank assets are at $330,890.22. B. Ways & Means: Betty Briscoe has written up the guidelines for the Carnation Café for future bazaar organizers. This will be Betty Briscoe’s last Bazaar. The kitchen cashiers want changes made to meal tickets because people are coming in who weren’t volunteers. Volunteers are asked to sign in at the front desk and will be given a meal ticket and name tag. When registration forms come in for the crafters we need to clarify the number of tables. This will be corrected in future mailings. Raffle tickets will be sold at Supper Club and Bingo starting today. We will also hand out forms for the cookbook. At the Bazaar we will sell the actual books with the raffle areas. No outdoor plants this year. C. Bingo: We had a very successful month in February and the $1,000 jackpot went. Rusty will transfer some proceeds to the money market. D. Correspondence/Memorial: We received $175 in donations for Connie Farrell and $10 for Luise Huegel and acknowledgements were sent. A condolence was sent to the family of Richard Miller. Louise Gregory not feeling well lately – the board will send a card to her. E. Gift Shop: We were a little low due to weather. In the month of February the Gift Shop made $884.37. The consignors were paid $289.88. RSI netted $553.80. F. Thrift Shop: The Thrift Shop netted $489.02 for the month of February and was closed for six days. G. Publicity: The “crafters wanted” ad will be placed in the March Gazette. It will also be on the web page. The ad for the Bazaar is to be designed next month. H. Senior Citizens Commission: The Needs Assessment has selected a consultant. The Twinbrook Pool is closing and the Mayor and Council have been approached to develop it for senior housing. Ciriaco went to the Annapolis Rally – USM. I. Hispanic Services Report: We are making a basket for the Bazaar raffle and food for the Carnation Café. J. Asian Services Report: No report.
OLD BUSINESS: John Austin from the Financial Network went over the status of the financial portfolio RSI has with Financial Network. John asked RSI if they were comfortable with the answers in the Risk Questionnaire they had completed previously. The Board said yes they want to stay with same answers to the Risk Questionnaire. John recommended we change allocation in portfolio to increase growth. His view is as long as Brazil, India, China and Russia have growth of 9-11%, there won’t be a recession because they are consuming whatever we can supply. In 2024, China’s economy will surpass the U.S. He’s not concerned about US Market. He recommends reducing the volatility and diversifying the assets. (page 9 of his handout) Since RSI wants a more passive role in investing, they agreed it helps John decide where to invest. John reviewed growth and value plans and explained their history and growth. John made a recommendation to select Thornburg Value I or A if he can’t get I for the Large Cap Value. For medium cap John recommends an index fund – I Shares Russell Midcap Index. For small cap he recommends splitting it between S&P small cap 600 growth and Value Index Funds. For International Equities he recommends an active fund – American Funds New Prospective Fund. George made a motion to accept John’s recommendations. Lois Brown seconded the motion. Motion carried. April 14th is Family Fun Day from 1pm to 3pm. RSI was asked to help with food (hot dogs, BBQ, nachos, sodas, etc.) and to help find people to help with parking for the April 18th event.
NEW BUSINESS: Mary Fleisher will have the Health Fair on May 30th. $500 was allocated for this event in the budget.
STAFF REPORT: Jill asked the Board to talk up the Volunteer of Year Nomination so we get some nominations. The Board needs to establish a nominating committee for the RSI Board elections. Three board members are up for re-election: Ron, Terry and Teresa. Terry and Teresa indicated they will not run again, but Ron will. Jill will be away on vacation from March 13-20. Please contact Phil Bryan or Melissa McKenna is you have any problems. On the 18th, we are hoping that all members of RSI can attend the event. VIP Parking passes have been put in your box. Ron has been asked to prepare a short welcoming and closing speech and assist with accepting the certificates. Rusty has been asked to talk briefly about RSI accomplishments over the past 5 years and then RSI will present the $20,000 check to the Mayor. Teresa will coordinate the Senior Singers’ presentation of God Bless America. The meeting was adjourned at 3:05 p.m. The next regular board meeting will be Tuesday, April 17, at 1:00 p.m.
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