2006 Tac Form Schedule A

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2006 Tac Form Schedule A Powered By Docstoc

Annual Meeting, 6/20/06

               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 HFC‟s 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 / Q&A Session                      All Clubs
      Adjourn
                   News Clubs Can Use
TAC Board Meeting:
       - Open to club members
       - Clubs are encouraged to send a representative to the
       - Need to send an advanced notice to get on the agenda
       - Allocated Meeting time: 1st Thursday of every month @ Dallas
         Fitness Center in CR3 from 12:30pm to 1pm

          - 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
                       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@ti.com, 972-995-8462

Refer to website for details and forms: http://www.texins.org/homepage.htm
                         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
Texins Association Clubs
Annual Meeting
June 20, 2006

           CLUBS‟ AND HFC‟s

   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
 Prepare and coordinate annual
  budgets and grant requests
 Prepare information for property and
  liability insurance coverage applications
 Schedule conference rooms for club
 Provide documentation and guidance on
  new club applications
 Provide data to Jim Falgout for annual
  IRS reports
 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
 Process vehicle/equipment registration
  and licensing

   During fourth quarter annual planning
       Provide timely financial forecasts for next
       Submit grant requests
       Summarize major planned club events
       Update current club membership and
   At year-end provide current and
    complete updates on club assets
           TI /TAC Meeting: Key Take-Aways
              (meeting w/ Steve Leven, Darla Whitaker, Lola

   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))
   Long Term Organization

         +              =

    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
    Long Term Organization
    Assessment - Issues
   Outdated Accounting Practices
       Budgets Not Rationalized
       Allocation Schemes Incomplete
       Reports Don‟t “Tell The Story”
       Cash Flow Linearity
   Inadequate Investment Income
       Low Yielding CD‟s & Money Markets
       Base Funds Continue to Dwindle

         Must Stop The “Bleeding”
    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
Long Term Organization
Assessment - Discussion
Backup / Insurance Summary / Other
             Texins Association Clubs
Insurance Update:
     Insurance secured through independent agent (Bayless-Hall
           Renewed 3/18/06
           Liability: Evanston
           Property: Fireman‟s
      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 month‟s in advance
            of renewal date with proof of insurance provided once secured

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