The meeting commenced by teleconference at 2030 EDT.  Present were Galloway, Voorhees, Schwehm, McNeil, Kovel, Kehoe, Wells and Stevens.  Absent were Stephenson, Golden and Gadd.  Class Trustee Hatch attended.

 1.  McNeil reported a total of $25,079.05 in the several administrative Class accounts, $19,488.64 of which is in a certificate of deposit.  We are secure financially, with adequate seed funds for a future reunion.

2.  Galloway reported that the AOG is reconciling their financial accounting system relative to contributions to the library from our Class gift fund.  Precise data will be available at the end of January on the amount remaining in the fund.  Additionally, he noted that a class is now to be given credit for accounting purposes for a gift from an individual in the class, but unless the gift is specified to be for the class gift fund it does not become a portion of the assets over which the class has some control.

A discussion ensued regarding disposition of the monies in the gift account, approximately $130,000.  The persistent issue is whether to do something with the fund in the near future or to retain it for some later purpose.  The Board expressed general support for the former option.  Galloway will draft a letter to the Class to explain the status of our fund and to detail giving opportunities to the Academy.   

3.  Galloway described a series of missteps regarding the honor kiosk.  It is designed and ready to go, but for a number of staffing delays the contractor has not yet been given authority to proceed.  The USMA SJA office is currently completing its staffing and hopes to get the authorization approved shortly

4.  Kehoe reported that San Andres intends to obtain and donate a Class crest carved in mahogany to be displayed on the wall of the library coffee shop.  Some coordination has been accomplished, to include advance permission from the Academy.

5.  Kovel is interested in arranging a mini-reunion river cruise in Europe in the Autumn of 2010 and reported on his research progress. The Class of 1961 has recently taken a Viking Cruise Line seven day cruise on the Danube.  The entire ship (seventy-plus cabins) was chartered at very favorable rates.  The Board approved the project and instructed him to continue planning and to communicate with the Class.

The meeting adjourned at 2126ET.