1. Checking $30,900.61
2. Savings $25,612.32
3. Savings - Clubhouse $3,446.97
4. Merrill Lynch $31,236.86 (as of September 30, 2004)
5. TOTAL Bank Accounts $91,196.76

1. Checking $6,309.70
2. Savings $1,408.26
3. TOTAL Bank Accounts $7,717.96

1. Checking $5,544.30
2. Savings $2,060.68
3. TOTAL Bank Accounts $7,604.98

1. Checking $11,729.91
2. TOTAL Bank Accounts $11,729.91

1. The November financial statements indicate a net income of $1,327.89. Additional deposits in the amount of $4,102.17 have not yet been recorded because the allocation was unknown at this time. We are waiting for a report from Mary Foster. In effect, there was a net profit in November of $5,430.06.
2. Significant income was received from:
• Membership dues $1,390.00
• RMS $3,066.99
• Post-marathon Party $2,202.00
3. Significant expenses included:
• Experienced Marathoners Program $1,470.00 (coaches gifts and post-race dinner)
• First Time Marathoners Program $988.18 (brunch and seminar space, T-shirts)
• Rundown $735.00
4. Old Financial Action Items:
1. Re: sales and use tax account is reopened and we will pay them once a year, December 31. So far we have sold about 100 books total.
2. 2005 budget is completed
5. New Financial Action Items:
1. Alternative investment strategies for Merrill-Lynch account
• Christina recommends transferring our account elsewhere as we will not earn enough to recover the fees. We make more money on our savings account at the Bank of America, and there are no fees for CD's, they will do CD laddering as well as rollover.
• Bill checked back with Nick at Legg Mason, the $40 account fee is the only fee you pay, no fees on CD's, he also recommends laddering and leaving some cash in a money market fund, current 1 year interest rate is 2.75%, no bump-up, the rate is locked. Bank of American one year is 2.13% but no fee.
• This year additional money has been added to the savings account and we have not had to touch the Merrill Lynch account.
• The advantage of Legg Mason is that it provides a higher interest rate on CD's even after the $40 fee, and we are able to get some professional advice from a club member (hence has the club’s interests in mind).
• Motion: The Board recommends transferring funds from the Merrill Lynch account into a series of laddered CD's at Legg Mason, under the direction of the Treasurer. Also, following the policy agreed upon last year, we will transfer some money from the Bank of America savings account to a new Money Market account at Legg Mason, also under the direction of the Treasurer, and as long as the interest rates for such an account are more favorable than for the savings account at Bank of America.
• Action Item: Christina will contact Nick Serenyi to setup an account at Legg Mason
2. Question about the use of the RMS computer, and whether the club should buy a new computer dedicated for RMS, currently we are using Phil’s, who is charging the club for its use on RMS jobs
• Action Item: Janet will talk with Phil Quinn about his preferences for the club buying a dedicated RMS computer rather than relying on his own computer
3. Motion to Accept Treasurer’s Report
1. Jean moves we accept the Treasurer's report, Bill seconded, unanimous
6. Unfinished Business
1. Back of the Pack Running Group t-shirts; Jean is working on it
2. Merrill Lynch Account: completed (see above Treasurer’s Report)
3. Equipment Needs: Janet still working on it
4. Equipment Needs - truss/scaffolding: we own scaffolding but not the truss, but the owner of the truss will let us use it whenever we need it, the scaffolding was originally purchased for MITP, which is used to support a truss (and an announcer's platform)
1. Also stored in the MITP is a truss and it is considerably lighter and easier to assemble, owned by Brian Tresp (for MITP), we only just found out about this while Craig was working on ordering it. As it turns out we can use the truss rather than buy a new one.
5. RMS Clinic: Jim is working on it
6. Handicap Race: Craig reported on our experiment with a handicapped race, which took place at the Turkey Burnoff, the 5 mile non-championship series race
1. Craig suggested that we should not have used a race where there were a lot of non-members entered
2. Craig noted mistakes in the execution and follow-up and concluded that he does not wish to continue being a champion for this race, and based on this experience he does not recommend it for 2005.
3. If we want to consider it for 2006 we should develop it as a newly established race for this purpose, and perhaps having a shorter distance which makes the handicapping time less than for a longer race
4. Action Item: Craig will prepare a written report on lessons learned for any future handicap races the Club may consider
7. New Business
1. MCRRC member complaint regarding behavior by another club member at a club event
1. the Board recognizes that most of the issue has to do with a private dispute between the parties involved and is not appropriate as Board business, so it will confine its attention to policy regarding appropriate behavior at club events
2. The Board received letters from both members in which this complaint is based
3. Board requests that the club member who had the complaint against them put an apology in writing to the club member who lodged the complaint, with a copy to the Board, with the understanding that the complaining member can share the apology with other club members affected by this incident.
4. Further the Board should send a letter to the club member who had the complaint against them indicating that the club cannot condone such behavior at club events and requesting the above apology to the Board and the complaining member involved
5. The Board reiterated its policy that the club condemns inappropriate behavior against any individual at club events, but that any breach of it will be dealt with on a case by case basis
2. Award Nomination: Marty discussed the process used in the past, and the issue of secrecy
1. In the past the names of the nominees for volunteer of the year and runners of the year were kept secret until the Awards party. Marty asked if we should maintain secrecy around these awards or not. It is not so much a confidentiality issue as it is that people will become (pleasantly) surprised at the Awards party and the suspense that accompanies the announcement. In the past, the nominations were not handled by the Board and thus Board members were not informed of the nominations. Marty suggested that the Board be more proactive in knowing whether there are sufficient nominations and who the nominees are, in advance.
2. An additional question is how to handle the situation where Board members who are involved in the Awards process are also nominated and one is chosen (who may be a sitting Board member), thereby giving up the surprise of finding out at the Awards party.
3. Additionally, Marty felt that we should get more nominees for key awards categories, and thus Board members should be encouraged to provide some nominations
4. Also, last year nominees for a key award did not receive sufficient votes for a majority and thus no award was given
5. Currently decisions are made by the president and the volunteer coordinator, for Volunteer of the year and Volunteer Services awards
6. Question was whether there should be a more formal mechanism for making decisions about these awards (the Volunteer Awards)
7. Marty also discussed the Lifetime Achievement Award and the process used for selecting an individual, in which all nominees need to provide a detailed list of contributions to the club, to be given to the Board members in order for the Board to make an informed decision about whom should receive the award
8. Craig also pointed out that the voting process for the Lifetime Achivement Award needs to be changed to provide for reaching a majority for one candidate (unlike last year where no single candidate achieved sufficient votes)
9. Motion: in the event that no nominations for any awards category are received, the Board is responsible for putting forth at least one nominee, Bill moved, Jean seconded, unanimous
3. Policy for Naming Races
1. Jean gave the background regarding several club members who have passed away within the past year and some have had their names added to races "in memorium"
2. John Sissala raised the issue that we do not currently have a policy around the naming of races
3. Jean suggested that we wait at least a certain period of time before naming a race
4. John also pointed out to Jean that the club is aging and there may be a larger number of club members who may pass away in the future, and we obviously cannot add all names to all races
5. An alternative suggestion was to choose one race which will serve as a memorial race for all club members who have passed away, and for the names of these club members to be read out prior to the start of the race (or some other form of recognition)
6. Motion: Janet moved that the club use a race on or near Memorial Day that would incorporate remembering club members who have died, Bill seconds, 8 in favor and 1 abstention
4. Memorial Service for Carole Rivera
1. Janet said that the fee to rent the sanctuary is $135 per hour and it is not clear how it will be paid, Janet suggested that the club may want to contribute to the cost,
2. Janet also pointed out that no one has asked the club to contribute, but that Carole was a key contributor to the club in the 90’s, before she moved to Atlanta and had kept in touch with club members
3. The Memorial Service will be held on Dec. 18 at the Unitarian Church on Cedar Lane and Beach Drive
4. Motion: Jean moves that the club make a donation to cover one hour of the Memorial Service for Carole Rivera, Bill seconded, unanimous
5. Annual Business Meeting
1. Jean said copies of the 2005 budget are on the web site, the budget will also be published in the Intervals
2. Jim raised the issue of distributing the club directory at the meeting
3. Discussion ensued about the number of directories that should be printed
4. Action Item: Jean will send out an email to club members announcing that the directory and door prizes will be available at the Business Meeting to remind members to look at the proposed 2005 budget
5. Action Item: Jean will ask Mary to prepare 100 copies of the directory to bring to the business meeting
6. 2005 club race schedule
1. George Tarrico proposed a schedule for club races and asked for Board feedback
2. Date is wrong for Rockville 5K/10K, new date is Oct. 2, 2005
3. Burning Tree in June should be 5k rather than 5 mile
4. Firebird Mile date is incorrect, should be April 14 (Thursday), and will be removed from the Junior Participation Series as people thought it was just a children's race
5. Hillandale race should be changed to Shooting Starr 5-Mile (named after Jim Starr who recently passed away)
6. Discussion around Difficult Run ensued, people were injured and there was negative feedback about the logistics (e.g., parking). It was suggested that we remove it from the schedule, currently scheduled for April 16, one week before Pike's Peek. However, since we have a champion we will keep it on the schedule
7. Jim suggested that Candy Cane be made a 6K. Board suggested the decision be left with George Tarrico, Club Race Coordinator
8. Kids on the Run should be listed for Sat May 21
9. Discussion of having a New Year's Day run. We have a champion, Jeff Gitlin, and although it is too late for this year, we will ask him to look into it and possibly add it to our calendar for 2006.
7. Obtaining Feedback from Participants on Low-Key Club Races
1. George Tarrico would like to have some cards available for participants to write comments, George will collect
2. Another suggestion was to provide a space on the web site for participants to provide feedback following club races
3. Action Item: Marty will work with George on printing race feedback/suggestion cards plus adding a feedback link from the results page on the web site
8. Announcements
1. A new club member emailed Jean to express his appreciation for the Experienced Marathoner Program, in which he ran the Philadelphia Marathon and had a sub-four hour PR
2. Jean received a letter from a runner in London England who ran MITP and who won some prize money. He enjoyed the race so much that he wants to donate the prize money to the club, there were others who ran MITP and won prize money who also donated their prize money to the club
3. Jean announced that there will be another Coaching Certification Course sometime in May
4. Jean also reminded the Board that the AED/CPR course will be run by a club member on January 15 in the Montgomery County Stella Werner Office Building and that prospective coaches need CPR certification for coaching certification
9. Closure
1. Review Action Items:
1. Setting up new Legg Mason account: Christina will contact Nick Serenyi to setup an account at Legg Mason, as per Board’s motion.
2. RMS Computer: Janet will talk with Phil Quinn about his preferences for the club buying a dedicated RMS computer rather than relying on his own computer
3. Handicap Race: Craig will prepare a written report on lessons learned for any future handicap races the Club may consider
4. Annual Business Meeting: Jean will send out an email to club members announcing that the directory and door prizes will be available at the Business Meeting to remind members to look at the proposed 2005 budget
5. Annual Business Meeting: Jean will ask Mary to prepare 100 copies of the directory to bring to the business meeting
6. Obtaining Feedback on Club Races: Marty will work with George on printing race feedback/suggestion cards plus adding a feedback link from the results page on the web site
2. Motions Passed
1. Merrill Lynch Account: The Board approves transferring the club’s Merrill Lynch account balance into a series of laddered CD's at Legg Mason, under the direction of the Treasurer. Also, following the policy agreed upon last year, we will transfer some funds from the Bank of America savings account to a new Money Market account at Legg Mason, also under the direction of the Treasurer, and as long as the interest rates for such an account are more favorable than for the savings account at Bank of America.
2. Award Nomination Process: The Board agreed that, in the event that no nominations for any awards category are received, the Board is responsible for putting forth at least one nominee, Bill moved, Jean seconded, unanimous
3. Policy for Memorial Races: The Board approved designating one race on or near Memorial Day that would incorporate remembering club members who have died, Janet moved, Bill seconds, 8 in favor and 1 abstention, passed
4. Memorial Service for Carol Rivera: The Board approved making a donation on behalf of the club to cover one hour of the Memorial Service for Carole Rivera, Jean moved, Bill seconded, unanimous
3. Next Meeting: January 6, 2005, at 6:30 pm at 100 Maryland Ave, 5th Floor conference room, Bringing Food: Janet and Jim

Gary Resnick

Secretary, Montgomery County Road Runners Club