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									                                                                    INSTITUTE of MANAGEMENT

       The Bottom Line       April 2008

                                                                    DON B. BRACKNEY
                                                                    TEL: (772) 486-6494
  Published by the Palm Beach Area Chapter (#304) of the IMA
                     Chapter Message                                WILLIAM C. CRAY, CMA
                                                                    Anderson Moore Construction Corp.
                                                                    TEL: (561) 204-4305 FAX: (561) 840-9779
    If you haven’t been to a meeting lately, you’ve been missing
out. In January, we heard from Gary Nikolits, Palm Beach            TREASURER
County Property Appraiser, who discussed the proposed               ARTHUR J. DAVIE, CMA
                                                                    Indian River Community College
constitutional property tax amendment which was approved by         TEL: (772) 219-9222 FAX: (772) 219-9777
the voters two weeks later. In February, we listened to Dionna      E-mail:

Brahs from the Realtors Association of the Palm Beaches talk        VP-ADMINISTRATION
about additional property tax issues and the Taxation and           LISA G. MOORE, CMA
Budget Reform Commission (TBRC) which has been in the news          Capital Realty Advisors, Inc.
                                                                    TEL: (561) 624-5888 FAX: (561) 624-5827
of late. And last month, Bill Bramlett of SunTrust Bank chatted     E-mail:
with us about “Credit Scoring: What Helps, What Hurts.” He
noted that the “ideal” credit score is starting to shift higher     KATHLEEN O. ROWLAND, CMA, CPA
because of the risks in our current financial environment.          TEL: (561) 575-6352
    Bill’s talk was filled with a lot of information. He talked     E-mail:

about the items that go into the calculation of a credit score:     VP-MEMBERSHIP
1) payment history (35%) - time-based, largest emphasis on          FRANK P. PATRICOLO
                                                                    TEL: (561) 373-6558 FAX: (561) 433-2039
the past 2-3 years; 2) utilization (30%) - size of balances and     E-mail:
how you use them (term loans vs. credit cards); 3) established
history (15%) - how many years of credit history you have; 4)       VP-PROFESSIONAL EDUCATION
inquiries (10%) - applications for financing; and 5) credit mix -
balance between revolving credit and installment credit. He         WEBSITE DIRECTOR
noted that there is no instant fix for a bad credit score. You      MICHAEL S. TARTER
                                                                    Florida Crystals Corporation
can improve your credit score by paying your bills on time and      TEL: (561) 366-5007 FAX: (561) 366-5045
being consistent (i.e. the biggest negative impact to your          E-mail:

credit score is delinquent payments.) Regarding the available       CMA/CFM DIRECTOR
credit limit on your credit cards, using less than 10% will         PAUL P. DONAHUE, CMA, CBM
                                                                    Wackenhut Services, Inc.
increase your credit score while using more than 40% will           TEL: (561) 472-3604 FAX: (561) 472-0601
decrease your credit score. Your credit score will be hurt by       E-mail:

closing old credit cards with good history, opening credit cards    DIRECTORS AT LARGE
you don’t need and trying to build your credit history too
quickly. The quickest positive effect to your credit score is to    *** JOSEPH C. BERARDINELLI
                                                                    Keiser College
reduce your credit card balances. Bill noted that with credit       TEL: (954) 776-4476
“time heals all wounds.” Thanks, Bill, for a great talk.            E-mail:

    Our speaker this month is Adam Gellis, CFP, of Wealth           *** VICTOR V. COPPOLA
Solutions. He will discuss “Fiscal Fitness.” Please plan to         P.I. Associates
                                                                    TEL: (561) 276-9990 FAX: (561) 276-9991
join us for convivial conversation, networking and learning         E-mail:
something new from our speaker. We look forward to seeing
new faces and old faces, too! Don’t miss out! Make plans            *** GREGORY F. PASHKE, CMA, CFM,
                                                                    CPA, Pashke Consulting
now to join us on April 15th.                                       TEL: (772) 528-3871 FAX: (772) 340-3050

                                          The Bottom Line
   Practicing Good Auditing for Internal APRIL FLORIDA COUNCIL MEETING
Fraud Prevention & Tech Etiquette in Fraud Fraud Prevention & Auditing
                                                 AT A DUDE RANCH!
for Internal Fraud Fraud Prevention & Auditing for Internal Fraud
                                                   REGISTER NOW!!!!
    You’re in the middle of an important brainstorming
 session when your BlackBerry goes off. Is it OK to                        The Florida Council has planned
 check your messages and respond or should you wait                    something special for their April
 until the meeting is over? The verdict is still out,                  Conference/Meeting that is sure to appeal to
 according to a recent Robert Half International survey.               your entire family. It will be held at Westgate
 Eighty-six percent of senior executives said it is                    River Ranch Resort. Enjoy an authentic
 common for professionals to read and write e-mail                     “Dude Ranch” experience, while surrounded
 messages in meetings. However, 31 percent of that                     by 100,000 acres of protected wildlife
 group said they disapprove of the practice. Thirty-                   preserve. Westgate River Ranch is a 1,700-
 seven percent of those polled said it is acceptable to                acre ponderosa of winding trails, pristine
 respond to e-mail only when the message is urgent,                    waters and more!
 while 23 percent said it is OK if individuals excuse                      The Conference will be held on April 18-19,
 themselves and step outside before pecking away on
                                                                       2008. Friday activities include 6 hours of CPE
 their mobile device.
    While the least disruptive option is to avoid using                and a hayride and cookout in the evening.
 electronic gadgets during meetings, this is not always                Saturday activities include chapter
 possible in today’s fast-paced business environment.                  leadership training in the morning, the Florida
 Therefore, consider the following tech-etiquette tips:                council meeting in the afternoon and a BBQ
      Remember that silence is golden. Be                             by the campfire in the evening. Family
          discreet. Before walking into a meeting, make                members are welcome to attend evening
          sure that all of your technology devices are set             activities. Further information about CPE
          to vibrate mode. There’s no better way to                    available, information and prices for
          disturb fellow attendees than to make them                   additional resort activities, a map and
          listen to annoying beeping and pinging noises.               registration form including lodging
      Consider your audience. Be mindful of who                       information is included as a separate file with
          is in attendance. While departmental                         this newsletter. Come join the Florida Council
          colleagues might appreciate your need to                     and their families for a really fun weekend!
          immediately respond to pressing e-mails,
          clients or senior management who expect your
          full attention might be less forgiving of
          distractions.                                                      Links to Other Websites
      Break the habit. If you tend to behave like
          Pavlov’s dog when your handheld gadget goes                  IMA National Home Page
          off, remind yourself that not every message        
          warrants an immediate response.
      And when you receive a truly urgent message                     Florida Council
          that requires you to type more than a short        
          sentence, excuse yourself and quietly head for
          an exit.
      Know when not to attend. If you’re in the
                                                                       IMA South Florida Chapter
          midst of a critical project requiring constant     
          communication, consider opting out of non-
          mandatory gatherings altogether.                             South Florida Business Journal
 Submitted by Accountemps. Accountemps is the world’s first and
 largest temporary staffing service specializing in the placement of
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                                                          The Bottom Line
                             “Fiscal Fitness”
                                      Presented by
                       Adam Gellis, CFP, Wealth Solutions
                                 Host: Frank Patriocolo

                             Tuesday, April 15, 2008

    Adam Gellis, a Certified Financial Planner, plans to cover three topics under the global
title of “Fiscal Fitness”:
     Pros and cons of variable annuities inside IRA’s
     Investments – Why our emotions don’t allow us to make logical decisions
     Basic estate planning that everyone should be thinking about.
    Adam’s career in helping people to make smart financial decisions started in 2000 when
he moved to South Florida from California. Adam began by helping financial advisors across
the country develop investment plans for their wealthier clients.
    In 2002, Adam began working exclusively for one financial advisor. Adam developed
and monitored advanced investment strategies for a core group of clients who were
looking for enhanced return without additional risk in their portfolios.
    2004 was a busy year as Adam became one of the youngest Certified Financial Planner™
Professionals in the country and he opened his own financial advising office in Palm Beach
Gardens, FL - Wealth Solutions.
    Adam’s philosophy is to help clients work toward achieving their goals by making smart
decisions and regularly monitoring each client’s individual progress. Adam opened Wealth
Solutions because it is an independent office where he can put his clients’ best interests
first. Adam believes in limiting the number of clients he services in order to provide the
attention each deserves. For more information, you can go to .
    We hope you will join us for an interesting meeting!

        MEETING LOCATION                                            TIME
Wackenhut Services, 7121 Fairway                   5:30 - 6:00 p.m. - Social Gathering
Drive, Suite 301, Palm Beach                          (including hors d'oeuvres) and
Gardens                                               Networking

Take I-95 and exit onto PGA Boulevard              6:00 - 7:00 p.m. - Speaker
west. Drive 2 miles (you’ll go over a
bridge). At the light for the turnpike
entrance, make a left turn onto Fairway
Drive. Drive ¼ mile to the Fairway Center                           COST
Office Complex on the right. Wackenhut
Services is located in the building on the
left.                                                        Members - $15.00
                                                           Non-Members - $15.00
      No reservations required.                         Students and Faculty - FREE

                                      The Bottom Line

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