National Council - Alpha Chi
National Council - Alpha Chi
National Council - Alpha Chi
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Region II Treasurer’s Report<br />
Net Worth Statement, Year Ending 31 December 2009<br />
Beginning Balance 12-31-08<br />
Regions Bank Checking Account 6,981.05<br />
ING Direct Savings 23, 000.00<br />
Total Assets $29,981.05<br />
Income<br />
<strong>National</strong> Dues Rebate 1-16-09 4,590.00<br />
<strong>National</strong> Dues Rebate 8-19-09 3,370.00<br />
Interest-ING Direct Savings 212.02<br />
Total Income $8,172.02<br />
Expenses<br />
<strong>National</strong> Convention-Chapter Reimbursements 11,600.00<br />
Quicken Software 75.76<br />
Gaston and Pryor Awards 2,000.00<br />
Total Expenses $13,675.76<br />
Net Income ($5,503.74)<br />
Ending Balance 12-31-09<br />
Regions Bank Checking Account 6,318.61<br />
ING Business Savings 18,158.70<br />
Total Assets $24, 477.31<br />
Total Net Worth 12-31-09 $24,477.31<br />
Region III Report<br />
23<br />
Respectfully submitted,<br />
Suzanne Pundt<br />
Region II Secretary-Treasurer<br />
Minutes<br />
1. Dr. Gregory A. Clemons (Mars Hill College), <strong>Alpha</strong> <strong>Chi</strong> Region III President, called the business meeting to order at 12:25<br />
p.m. He introduced the other attending officers of Region III: Vice President Dr. June Hobbs (Gardner-Webb University) and<br />
Secretary-Treasurer Dr. Jonathan Thorndike (Belmont University). Dr. Clemons thanked the <strong>Alpha</strong> <strong>Chi</strong> sponsors and students for<br />
attending the convention. He asked the students who made presentations or applied for Nolle or Benedict scholarships to stand up for<br />
recognition.<br />
2. Dr. Clemons announced that minutes from the 2009 Region III business meeting in Indianapolis were available on the<br />
Region III web site http://campus.belmont.edu/honors/alpha_chi/RegionIII/Index.html, and he asked for any corrections or additions<br />
to be sent to Dr. Thorndike. None were mentioned.<br />
3. Dr. Thorndike thanked Dr. Clemons for his leadership as Region III President and recognized Dr. Hobbs as the incoming<br />
Region III President. He distributed copies of the 2009 financial report and reviewed it. The Region III investment portfolio is<br />
composed of 71% equities, 27% fixed income, and 2% cash and valued at $51,141. For the 2009 year, the account value increased by<br />
$9,791.41. The Oppenheimer Developing Markets fund is up 90% since we purchased it in February 2009. We went through a market<br />
devaluation during the 2008 recession which prompted us to sell many low-rated mutual funds and reinvest in newer, 5-star rated
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