Texins Association

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• Texins Association
• Clubs

Annual Meeting, 6/20/06
www.texins.org
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Texins Association Clubs

• AGENDA (6/20/06)
• Welcome / Introductions All
• Financial Update James Cody / Ingrid Jenkins
• TAC Status
• Accounting
• News Clubs Can Use Ingrid Jenkins
• HFC Marketing Support
• Reminders Grant Usage, Loans
• Board meetings, etc.
• Membership Update Mike Mignardi
• 75/25 rule
• Overview of HFCs Role (wrt TAC, TI) Alesia
  Carroll
• Clubs Responsibilities vs. HFC Accounting
• TI Feedback
• TAC Long Term Organization Assessment Tom
  DiFloria
• Overview / Concerns
• Discussion
• Clubs Feedback / QA Session All Clubs

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News Clubs Can Use
TAC Board Meeting - Open to club members -
Clubs are encouraged to send a representative to
the meetings - Need to send an advanced
notice to get on the agenda - Allocated Meeting
time 1st Thursday of every month _at_ Dallas
Fitness Center in CR3 from 1230pm to
1pm Grants - Must be used in the year
awarded or forfeited Loans Available - Clubs
can borrow money from TAC for 1 over the prime
interest rate - No more advances
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News Clubs Can Use
HFC Marketing Support Three support
levels Level I Free Flyer Distribution Texins
Quarterly Publication (Due 1st Friday of every
3rd month) Texins Monthly Email (Due 1st Friday
of every month) Website Update to
texins.org Level II Fee. Request Quote Design
and printing (brochures, flyers, posters
etc.) Level III Fee. Request Quote. Subject to
HFC staff availability Design of individual club
website Submit marketing request form for all
print materials one month prior to event HFC
Contact Rebecca Cooper, rebeccacooper_at_ti.com,
972-995-8462 Refer to website for details and
forms http//www.texins.org/homepage.htm
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Texins Association Clubs Bylaws Proposed Changes

• Article II Membership
• 75 Eligible Membership
• Include Spouse, dependent children and
  contractors
• Change to 75/25 rule
• Currently, each club maintains 75/25 rule
• Listed pros/cons of keep as is or open it up
• Open it up (TAC stays 75/25 rather than the club
  level)
• Pro ? clubs become more self sufficient
• Con ? more work by the TAC, less TI-centric
  membership
• BOD discussion and vote
• Open it up
• Club must petition to increase - why and what it
  would do (only allow a few clubs to do this)
• Next steps
• Communicate to IRS our bylaw changes
• Roll out plan to the clubs

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Texins Association ClubsAnnual MeetingJune 20,
2006

• CLUBS AND HFCs
• ROLES AND RESPONSIBILITIES

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HFC

• Cost accounting and control
• Process check requests
• Prepare checks for payment
• Make deposits as required
• Prepare and reconcile monthly income/expense
  summaries
• Reconcile checking account
• Prepare monthly board presentations

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HFC

• Prepare and coordinate annual budgets and grant
  requests
• Prepare information for property and liability
  insurance coverage applications
• Schedule conference rooms for club events
• Provide documentation and guidance on new club
  applications
• Provide data to Jim Falgout for annual IRS
  reports

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CLUBS

• Submit timely and properly approved check
  requests
• Make deposits as required
• Submit timely monthly financial updates
• Notify us when new officers are elected
• Provide orientation for new club treasurers
• Process vehicle/equipment registration and
  licensing

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CLUBS

• During fourth quarter annual planning
• Provide timely financial forecasts for next year
• Submit grant requests
• Summarize major planned club events
• Update current club membership and forecast
• At year-end provide current and complete updates
  on club assets

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TI /TAC Meeting Key Take-Aways(meeting w/
Steve Leven, Darla Whitaker, Lola Chriss)

• No formal / legal ties between TI and TAC
• TI big supporter of non-profit organizations (TAC
  and others)
• TAC (estimated 1K members) serves about 1 of TI
  Americas
• TI very willing to recommend internal resources
  to help TAC find expertise needed (investments,
  insurance, accounting, etc.)
• TAC Primary POC Lola Chriss
• Note TI will find a way to continue to support
  events (Eggstravaganza, MMBash fully understand
  primary concerns of TAC (financial survival,
  stability))

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Long Term Organization Assessment


INCOME
EXPENSES
TEXINS FUTURE?
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Long Term Organization Assessment - Sources

• Income
• Membership Dues
• Interest Bearing Accounts
• Training
• Club Events
• Fund Raisers
• Expenses
• Insurance
• Financial Services
• Legal Services
• Taxes
• Capital Depreciation
• Grants
• Equipment Supplies
• Club Events

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Long Term Organization Assessment - Issues

• Outdated Accounting Practices
• Budgets Not Rationalized
• Allocation Schemes Incomplete
• Reports Dont Tell The Story
• Cash Flow Linearity
• Inadequate Investment Income
• Low Yielding CDs Money Markets
• Base Funds Continue to Dwindle
• Must Stop The Bleeding

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Long Term Organization Assessment - Solutions

• Demand Fiscal Responsibility
• Preserve Association Assets
• Minimize Cash Flow Requirements
• Improve Bill Payment Process
• Resources to Better Manage Finances
• Solicit Expertise When Needed
• Investments/Insurance/Taxes/Legal
• Foster Association Level Cooperation
• Establish committees to provide solutions

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Long Term Organization Assessment - Discussion
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QA
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Backup / Insurance Summary / Other
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Texins Association Clubs

• Insurance Update
• Insurance secured through independent agent
  (Bayless-Hall Insurance)
• Renewed 3/18/06
• Liability Evanston
• Property Firemans
• Requirements
• Third Party Liability required (risk mitigation
  for umbrella organization)
• Property insurance at clubs discretion
• Special requirements TFC, Archery Club
• Cost Comparison
• 2004 41K
• 2005 22.89K
• 2006 24.93K
• All clubs required by TAC to carry third party
  liability
• For self insurance, notification should be made 2
  months in advance of renewal date with proof of
  insurance provided once secured