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MINUTES
MEETING OF THE EXECUTIVE COMMITTEE
SOCIETY OF PROFESSIONAL JOURNALISTS
NOVEMBER 12, 2008
INDIANAPOLIS, INDIANA

MEETING CALLED TO ORDER
With President-Elect Kevin Smith presiding, the meeting of the Executive Committee of the Society of Professional Journalists was called to order at 2 p.m. on Wednesday, November 12, 2008, via a telephonic conference call originating in Indianapolis, Indiana.

ROLL CALL
In addition to Smith, the following were present: Secretary-Treasurer Hagit Limor; Vice President Campus Chapter Affairs Neil Ralston; Director-at-Large Bill McCloskey; Executive Director Terrence G. Harper; Associate Executive Directors Joe Skeel and Chris Vachon; Controller Jake Koenig; and Greenwalt Sponsel & Co. Representatives Amanda Meko and Jennifer McVey.

REVIEW OF AUDITED FINANCIAL STATEMENTS
Three documents were included as part of the audit report: a letter to the board of directors and management of the Society of Professional Journalists; a letter to the board of directors of the Society of Professional Journalists; and the Society of Professional Journalists’ Audited Financial Statements for the fiscal year ended July 31, 2008.

Meko reported that the auditors had no disagreements with management during the audit and that no adjusting journal entries were necessary. The auditors are prepared to issue a clean opinion.

Meko reviewed the Society’s statements of financial position, statements of activities, statements of cash flows and statement notes.

Koenig explained that the increase in printing costs is tied to the extra printing of The Journalist for newsstand sales.

The committee discussed the need for a bookkeeper manual as identified in the audit. It was decided that Greenwalt Sponsel & Co. would provide some examples to Koenig.

AUDITED FINANCIAL STATEMENTS APPROVED
Upon a proper motion and second by McCloskey and Limor, respectively, the Executive Committee approved the audited financial statements.

MEETING ADJOURNED
Smith declared the meeting adjourned at 2:32 p.m.