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Subj: December 2005 BOT Meeting Report Refer to: Central Region Letter 21-05; December 12,
2005 **** My apologies for the delay in relaying the events of the 12/1/05 BOT meeting but I’ve been out of town since then. Here is a summary of the reports/decisions that were made at the BOT meeting.
COMMUNICATIONS COMMITTEE (Dan Proulx ’82) · 43 Class Corresponding Secretaries (’34 to ’99) attended a meeting on 11/10 to discuss/exchange views on Shipmate magazine; good meeting; will hold another in a few years · Strategic communications plan being refined/updated
ADMISSIONS COMMITTEE (Bill Rentz ‘ 55) · Captain Karen Fry is the new Director of Admissions at USNA · Chapter Academy Awareness Representative point paper developed to describe how this position should function and interface with others, e.g. BGO
HOUSE COMMITTEE (Bob Stevenson ’60) · More progress in last few months on maintenance & capital improvements on Association property than in a long time o Re-roofed Ogle Hall and renovated fence o Roof on Cottage and 49 House repaired o Much other work accomplished, e.g., electrical in Ogle Hall · Planning ADA upgrades to Ogle Hall (e.g., elevator, restrooms, HVAC); working with various approval authorities—expect 18 month process
OTHER CHAPTER TRUSTEE SELECTION COMMITTEE (Raese Simpson ’61) · Alamo, Columbus/Central Ohio, and North Texas Chapters were selected from 10 applications to be seated as Trustees upon conclusion of the Spring BOT meeting; this is a 30 % increase in BOT applications from Chapters · Wass note: I’m pleased that 6 of the 10 applicants were from the Central Region, and the three winners were from Central; as I member of the Committee I applaud all ten applicants—it was a very difficult decision to choose 3 from 10 excellent applications
SUPERINTENDENT’S REPORT (Rod Rempt ‘ 66) · I will issue a separate newsletter on this report because it is quite lengthy
PRESIDENT/CEO REPORT (George Watt ‘ 73) · Thanked alumni for support; semi-annual report located at: http://www.usna.com · Briefed USNA Board of Visitors on Leaders to Serve the Nation Campaign (fund-raising); BOV pleased with results o Gen Chuck Krulak ‘ 64 Chairs the BOV; ADM Snuffy Smith ‘ 62 is a member o Campaign goal of $225 million exceeded ($245 million reached) o $90 million in direct support of USNA was given during campaign (e.g., Endowed Chairs, Stadium Renewal, Levy Center, Crown Sailing Center, etc.) · Post-campaign focus will be to: maintain alignment with USNA priorities for sustained fund raising; grow a culture of philanthropy; lay groundwork for the next campaign · June 2006 will be the 120th anniversary of the Alumni Association (formed 6/11/1886)
JOINT FINANCE & AUDIT COMMITTEE REPORT (Corbin McNeill ‘ 62) · New auditors are working out well—getting more experienced auditors than with previous firm—new auditor worked at the Association 5 years ago · Gave “unqualified” audit approval—highest level of report—no management letter (first time in 8 years) · Good financial footing · BOT unanimously approved a gift to south stadium entrance arch (Alumni Arch) and a plaque honoring Bill Busic; cost will be $500,000 payable over two years; we have almost $8 million in unrestricted funds · BOT unanimously approved an Operating Manual change to bring officer compensation review procedure up to date and in line with legal requirements
JOINT INVESTMENT COMMITTEE (Hank Sanford-CFO) · USNA Foundation asset growth to $122 million as of 9/05 (after giving $93 million to USNA) · Good investment results-3rd QTR results up 4.6% · Investment fund continually watched/improved by JIC · Nearing end of search for a new investment manager for main portfolio—down to 2 firms including incumbent—decision by 12/15
MEMBERSHIP COMMITTEE (Dan Lear ‘ 68) · Approved 20 Associate Members · Need to increase regular membership · Corporate membership program working well—40 members generating more than $200,000 in annual revenue to the Association · BOT voted unanimously to approve Gordon England, SECNAV, as an Honorary Member—he has been a big supporter of USNA (stood in rain at Emerald Bowl with pneumonia)
PLAN 2010 REVIEW (Dan Lear ‘ 68 & George Watt ‘ 73) · Dan Lear and Perry Martini ‘ 71 are Co-Chairs · Some staff assigned, but more to be named · Open process—invite all input and concerns · Periodic reports planned to BOT with 5/06 Progress Report and 12/06 Final Report
COUNCIL OF CLASS PRESIDENTS (Roy Snyder ‘ 50) · COCP has matured—have committees that mirror BOT committees (e.g., Communications, Membership, Governance, Class Giving, Wardroom Support)
GOVERNANCE COMMITTEE (Roy Snyder ’50) · After presentations on background & discussion of proposed “strawman” change to BOT composition a role call vote was taken; the “strawman” proposal was defeated by a 17 to 12 vote o I’m pleased to report that all four Regional Trustees voted “NO” as did 8 of the 12 Chapter Trustees (all from the Central and Western Regions voted “NO”) · Wass note: Thank you for your input to this important decision; I received hundreds of emails from Central Region alumni with about 10 to 1 against this proposal—your input was acted on.
NOMINATING COMMITTEE · The Chair indicated that he was disestablishing, without prejudice, the current Nominating Committee because of procedural irregularities; he will appoint a new committee and expect they will recommend a new slate to be voted on by the BOT by January 31.
NAVY BLUE & GOLD (Art Bryant ‘ 66)
· The meeting concluded with a singing of our alma mater led by Art Bryant ‘ 66
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*** Central Region: |