{"id":313,"date":"2020-10-22T17:25:40","date_gmt":"2020-10-22T17:25:40","guid":{"rendered":"http:\/\/www.slameeting.com\/bodoct2020\/?page_id=313"},"modified":"2021-03-02T14:43:57","modified_gmt":"2021-03-02T14:43:57","slug":"contingency-funds","status":"publish","type":"page","link":"https:\/\/www.slameeting.com\/bodoct2020\/contingency-funds\/","title":{"rendered":"Contingency Funds"},"content":{"rendered":"\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h1 class=\"wp-block-heading\">Contingency Funds<\/h1>\n\n\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"http:\/\/www.slameeting.com\/sm2020\/wp-content\/uploads\/sites\/2\/2020\/09\/Hood-Strong-StatementsOfFinancialPosition.png\" alt=\"\" class=\"wp-image-265\"\/><\/figure>\n\n\n\n\n\n<h2 class=\"has-text-align-left wp-block-heading\">Note 4<\/h2>\n\n\n\n<p><strong>Investments:<br><\/strong>The Association&#8217;s investment portfolio consisted of the following as of November 30, 2019 and 2018:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"http:\/\/www.slameeting.com\/sm2020\/wp-content\/uploads\/sites\/2\/2020\/09\/table-note4-1-1024x197.png\" alt=\"\" class=\"wp-image-282\"\/><\/figure>\n\n\n\n<p>Maturity by calendar year is as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"http:\/\/www.slameeting.com\/sm2020\/wp-content\/uploads\/sites\/2\/2020\/09\/table-note4-2-1024x319.png\" alt=\"\" class=\"wp-image-284\"\/><\/figure>\n\n\n\n<p>The Association follows the fair value measurement standards, which define fair value, establish a framework used to measure fair value, and require certain disclosures about fair value measurements. The standards prioritize, within the measurement of fair value, the use of market-based information over entity-specific information and established a three-level hierarchy for fair value measurements based on the transparency of information, such as pricing source, used in the valuation of an asset or liability as of the measurement date.<\/p>\n\n\n\n<p>Investments measured and reported at fair value are classified and disclosed in one of the following categories:<\/p>\n\n\n\n<p><em>Level 1<\/em> \u2014 Quoted prices that are available in active markets for identical investments as of the reporting date, without adjustment. This category includes active exchange traded money market funds, and actively managed fixed income whose values are based on quoted market prices.<\/p>\n\n\n\n<p><em>Level 2<\/em> \u2014 Pricing inputs, including broker quotes, are generally those other than exchange quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, or fair value is determined through the use of models or other valuation methodologies.<\/p>\n\n\n\n<p><em>Level 3<\/em> \u2014 Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. The Association did not hold any Level 3 investments at November 30, 2019 and 2018.<\/p>\n\n\n\n<p>The following table summarizes the valuation of the Association\u2019s investments by the fair value hierarchy levels as of November 30, 2019:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"http:\/\/www.slameeting.com\/sm2020\/wp-content\/uploads\/sites\/2\/2020\/09\/table2019.png\" alt=\"\" class=\"wp-image-277\"\/><\/figure>\n\n\n\n<p>The following table summarizes the valuation of the Association\u2019s investments by the fair value hierarchy levels as of November 30, 2018:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"http:\/\/www.slameeting.com\/sm2020\/wp-content\/uploads\/sites\/2\/2020\/09\/table2018-1024x305.png\" alt=\"\" class=\"wp-image-279\"\/><\/figure>\n\n\n\n\n\n<h2 class=\"has-text-align-left wp-block-heading\">Note 8<\/h2>\n\n\n\n<p><strong>Board Designated Net Assets:<br><\/strong>Included in the Association&#8217;s net assets are amounts which have been designated by the Association&#8217;s Board of Directors to be used for the following as of November 30, 2019 and 2018:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"http:\/\/www.slameeting.com\/sm2020\/wp-content\/uploads\/sites\/2\/2020\/09\/table-note8-1024x292.png\" alt=\"\" class=\"wp-image-288\"\/><\/figure>\n\n\n\n<p>During 2019 the Board of Directors resolved to separate the Operating Reserves Fund into the Reserve Fund and Operating Fund.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Contingency Funds<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-313","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/pages\/313"}],"collection":[{"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/comments?post=313"}],"version-history":[{"count":8,"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/pages\/313\/revisions"}],"predecessor-version":[{"id":652,"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/pages\/313\/revisions\/652"}],"wp:attachment":[{"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.slameeting.com\/bodoct2020\/wp-json\/wp\/v2\/folder?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}