Executive Board Meeting President Jerry Francis called the meeting to order at 7:33 P. M. Ted Goldsborough led the Pledge of Allegiance. Officers and Directors present: Jerry Francis, Alison Graham, Denise Francis, Betty Cannon, Ross Mitchell, Ted Goldsborough, S. Hamill Horne, Jack Hagner, Bobbie McElroy. Excused absences: George Broseman, Jack McGuire, Dennis Montagna, Bruce Reed, and Joan Roberts. The minutes of the October 4, 2004, meeting were approved as presented. President's Report: Jerry Francis commented that the primary purpose of this abbreviated meeting is to vote again on the two motions that were made at our October 4th Executive Board Meeting concerning updates to our By-Laws. For these By-Law updates to be adopted requires a majority vote (being a majority of all voting members of the Executive Board at the time of such vote, not merely a majority of those present at a meeting) at two consecutive Executive Board Meetings. This session is the second Executive Board Meeting and our Executive Board is currently comprised of fourteen voting members. Therefore, for these two motions to be adopted, we will need a minimum of eight "yes" votes. Membership and Dues, Article III, Section 2 - add "Corporate" as a category of Membership. This motion was moved, seconded and unanimously approved by the nine board members who were present. For the 2005 membership mailing, this change will require the printing of new remittance envelopes, membership cards and an update to our brochure which were needed anyway. Dissolution, Article IX - New Wording: "In the event of dissolution of this Society, all of the funds (after the payment of debts), property, and historical collections shall go to and vest to an IRS code 501(c)(3) tax-exempt organization such as the Lower Merion Library System or similar organization with a comparable mission selected by the remaining members of the Board of Directors." This motion was moved, seconded and unanimously approved by the nine board members who were present. Treasurer Report: Jack Hagner presented the Mazen and Company Financial Review Report for 2003. Now that the renovations to the Academy building have been completed, and our income will be smaller, there will be no need for an outside financial review which will net a savings of $2,300/year. Jack also presented the financial statements as of October 31, 2004. A correction was made to Note 4 Restricted Funds, on the last page. The ending balance date should read "10/31/2004". The Temporarily Restricted Funds include the $20,000 DCED grant for which we have not yet received the funds from the State. It was moved, seconded and unanimously approved to accept the Treasurer's Report. New Business: Jerry reported that since our October Executive Board meeting, the Society has hosted 6 program events. He also reported that he attended the 186th Annual Banquet of The Lower Merion Society for theDetection and Prosecution of Horse Thieves and the Recovery of Stolen Horses. He represented the Society as their guest speaker and was elected a member of their Board of Stewards. Currently there are discussions with George Painter III, their Vice President, about the possibility of merging the two groups. Jerry will keep the Board apprised of the details of these discussions. New Business: Jerry reported that "The Architecture at West Laurel Hill Cemetery, A Walking Tour" went very well, was well attended and had perfect weather. Plans call for an Arboretum tour of the Cemetery in the spring. The next meeting will be on Tuesday, January 18, 2005 at 7:30 P. M. The meeting was adjourned at 8:03 P. M. Respectfully Submitted
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