{"id":256,"date":"2020-09-20T23:25:03","date_gmt":"2020-09-20T23:25:03","guid":{"rendered":"http:\/\/www.slameeting.com\/sm2021\/?page_id=256"},"modified":"2021-09-17T13:07:24","modified_gmt":"2021-09-17T13:07:24","slug":"contingency-funds","status":"publish","type":"page","link":"https:\/\/www.slameeting.com\/sm2021\/contingency-funds\/","title":{"rendered":"Contingency Funds"},"content":{"rendered":"\n
<\/div>\n\n\n\n

Contingency Funds<\/h1>\n\n\n\n\n\n

Statement of Financial Position<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n\n\n

Note 4<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n\n\n

Note 9<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n\n\n

Board of Directors Meeting: 4\/23\/2019<\/h2>\n\n\n\n

Contingency Funds and Pension Funds Discussion<\/strong><\/p>\n\n\n\n

Mr. McKay outlined his proposed restructuring of the contingency funds, as follows:<\/p>\n\n\n\n

<\/p>\n\n\n\n

  • Separate the operating and reserve funds, and fund the operating fund at one month of expenses for smoothing purposes (approximately $1.25 million)<\/li>
  • Eliminate the operating reserves fund<\/li>
  • Fund the reserve fund at three months of expenses (approximately $3.75 million).<\/li>
  • Expand scope of the litigation fund to include any type of litigation in which the SLA finds itself, not just defense.<\/li>
  • Set the pension and post-retirement liability fund as a fixed number to fill the gap between an off-book account (currently at $8.7 million) and the expected market cost of paying off the pension ($15 million), which comes to $6.3 million. The fund\u2019s goal would be to fill the gap between the off-book fund and the market price for annuitizing the pension fund, plus the cost of post-retirement benefits.<\/li>
  • Eliminate the computer system fund, because the project it was created to fund has been completed.<\/li><\/ul>\n\n\n\n

    Hank Haldeman<\/strong> moved to accept the proposal, and Janet Beaver<\/strong> seconded. The motion carried.<\/mark><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

    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-256","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/pages\/256"}],"collection":[{"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/comments?post=256"}],"version-history":[{"count":29,"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/pages\/256\/revisions"}],"predecessor-version":[{"id":771,"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/pages\/256\/revisions\/771"}],"wp:attachment":[{"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/media?parent=256"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/www.slameeting.com\/sm2021\/wp-json\/wp\/v2\/folder?post=256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}