Long-Range Planning

Finance

• Continuation or dissolution of the Chemical Exposition Trustees. The Panel decided to support dissolution of the Chemical Exposition Trustees, but to investigate obtaining a trademark status for the name National Chemical Exposition. Upon action by the Board of Directors to recommend dissolution of the Chemical Exposition Trustees to the membership and adoption of this change by the membership a resolution will be introduced to move the Chemical Exposition Reserve Fund monies into the Meeting Place Reserve Fund as provided in Bylaw X Section 5 Paragraph 3 (Approved as Amended June 11, 1996).
• Continuation or dissolution of the Library Trustees. Because the Library Trustees and the Ipatieff Library Fund were established jointly by the Chicago Section ACS and the Chicago Chemists Club, unilateral dissolution cannot occur. The Chicago Chemists Club will be asked to consider the future of the Library Trustees and relay their conclusions at the earliest convenience.
• Continuation or dissolution of the Pension Plan Trustees. The Panel decided to support dissolution of the Pension Plan Trustees as there are no current employees, and the institution of such trustees is archaic in modern corporations.
• Continuation or dissolution of the Budget Director. The Panel decided to recommend the continuation of the office of Budget Director. They further recommend that budgeting be done by the Finance Panel under the direction of the Budget Director with input from the various officers and committee chairs. Detailed line item budgeting was highly recommended.
• Investigate the question of liability coverage for the Section Board and Trustees.