As a point of clarification, Earl Clary noted that non-voting members may not be club champion. This current deficit is due primarily to increasing expenses, particularly those associated with our recent move within the Wightman Building. Both club dues and tournament fee increases are expected to favorably impact this deficit, as well as equipment, soda, and candy sales. Clary notes that donations as well as other liquid funds should be put into an interest-bearing account to maximize our funds. Laura McCullough reiterates this point and O Halloran states he will check into this.
Clary reviews the club investment portfolio performance over the last year.
Schuh expects the new lease to be finalized as being 3 years in length with a 2 year option. O Halloran need to meet to review the club s investment strategy for the coming year. Motioned by Muder, seconded by Cummings, to accept the Treasurer s Report. Schuh commends Martinak and Thomson for increasing tournament activity and revenues. McCullough mentions that the potential affiliation status of her club has been ignored and not even mentioned in the 1996 Annual Meeting minutes.