Meeting Minutes: June 27, 2000 (Tuesday)
Board of Directors, Wisconsin Swimming, Inc.
University of Wisconsin, Waukesha, Wisconsin

MEMBERS PRESENT: Jackie Groiss, Patty Kramer, Jim Mohr, Steve Scheissl, Mary Schneider, Mike Young, Susan Zblewski; Guest: Kathy Gwidt

1. CALL TO ORDER: Jim Mohr, General Chair, called the meeting to order at 6:00 PM.

2. APPROVAL OF THE MINUTES: A correction to the April 3, 2000 minutes: Berkeley and Islin prepared Wisconsin Swimming’s IRS 990, not an audit. With this correction, Steve Scheissl moved and Mike Young seconded approval of the April 3, 2000 minutes. Motion passed. Scheissl moved and Susan Zblewski seconded approval of the January 25, 2000 minutes. Motion passed.

3. WISCONSIN SWIMMING"S INVESTMENTS: Mike Young, Finance Vice Chair, reported that currently Wisconsin Swimming, Inc., AKA the Local Swimming Committee (LSC), places its reserves in Certificates of Deposits (CDs) with an annual rate of return of about seven percent. At the Finance Committee on May 19, 2000, the Committee proposed patterning the LSC’s investing policies after those of USA Swimming, Inc., namely:

10% of investments in very aggressive small stock funds;
10% of investments in slightly less aggressive international stock funds;
30% of investments in large stock funds; and
50% of investments in bonds. Such investment diversity offers a conservative approach to the LSC’s needs, while likely offering a higher rate of growth on the LSC’s investments.

On June 1, 2000, Young and Mary Schneider, Treasurer, met with Dale R. Lutze, Investment Representative with Associated Investment, Inc. that is affiliated with Associated Bank, the LSC’s Bank, to discuss developing an LSC portfolio. The Committee recommends an initial investment of $50,000 to $60,000, split between the LSC Travel Fund and the LSC Unrestricted Fund, as the LSC has retained at least this amount in its accounts in recent years. Lutze recommends:

 
10% Small Stock Funds VKAC Emerging Growth Fund
Putnam OTC & Emerging Growth Fund
10% International Stock Funds Putnam International Growth Fund
Aim International Equity Fund
30% Large Stock Funds Aim Value Fund
Putnam Investors Funds
VKAC Comstock Fund 
50% Bonds Putnam Diversified Income Trust
Aim Income Fund
VKAC High Income Corporate Bond Fund
 NOW PRESENT: Cathie Marty, Barb Stirn, Drew Walden

Young moved and Zblewski seconded having the LSC establish an investment account with Associated Investment Services, Inc. with an initial amount of $50,000 to $60,000 split equally between the LSC Travel Fund and the LSC Unrestricted Fund and the gains or losses split equally between the LSC Travel Fund and the LSC Unrestricted Fund in the funds recommended above by Dale R. Lutze of Associated Investment, Inc. with the understanding that the LSC pays no brokerage fees with purchases or sales of investments. Motion passed.

4. WISCONSIN SWIMMING AUDIT: Young reported that the Audit Committee conducted an audit on June 8, 2000 of the LSC’s financial records and found records acceptable.

NOW PRESENT: Dave Anderson, Bob White

5. MEET SCHEDULE: Barb Stirn, Administrative Chair, reported that the LSC received four bids to conduct the four 2001 Sectional Meets on February 16-18: FRST/WBSC -- Fond du Lac; BAC – Middleton; WEST – Waukesha; and LAKE – Hartland. The Age Group Committee will align the LSC teams to those four Sectional Meet sites by the LSC Long Course Championships for vote on the alignment at the October LSC House of Delegates meeting. Schneider has Heat Sheets (provides the number of swimmers and events) from the LSC’s 2000 Sectional Meets to aid in equitably assigning teams.

6. COMPENSATING ADDITIONAL LSC POSITIONS: Steve Scheissl, Age Group Chair, reported that the Age Group Committee recommends paying certain positions within the LSC with the money saved by not having to reimburse swimmers competing in USA Swimming Junior Championships, as USA Swimming is dropping this event . Board took no action.

7. EXPANDING SPLASH FEE: Scheissl reported that the Age Group Committee also recommends collecting the Splash Fee for relay only swimmers competing in the LSC Championship Meets. The Splash Fee is assigned to the LSC unrestricted Fund, except that the Splash from the LSC Championship Meets is assigned to the Travel Fund. Board took no action.

8. LSC DELEGATES TO THE USA SWIMMING CONVENTION: The LSC has six voting delegates to the annual Convention next Fall in Orlando, Florida: General Chair, Jim Mohr; Administrative Chair, Barb Stirn; Age Group Chair, Steve Scheissl; Senior Chair, Drew Walden; Coaches’ Representative, Blaine Carlson; and Athletes’ Representative, Jennifer Skolaski and a Representative to be elected at the LSC Long Course Championships. (Athlete Representatives vote as one.) Stirn asked that Schneider or Carol Graham, Registration and Membership Coordinator, attend in her place. Carlson’s availability was unknown. Mohr requested USA Swimming designate Jackie Groiss, OVC & Records Coordinator, as a Delegate at Large; a decision is pending.

NEXT MEETING: October 24, 2000
 
 

Prepared by _________________________________________ Date September 1, 2000

Patricia A. Kramer, Secretary
Wisconsin Swimming, Inc.