Chemical Information Bulletin, Volume 44, Number 3, Summer 1992 Page: 2
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DIVISION OF CHEMICAL INFORMATION
AMERICAN CHEMICAL SOCIETY
EXECUTIVE COMMITTEE MEETING
Parc 55 Hotel, San Francisco
Sunday, April 5, 1992
1:45 - 5:30
The Executive Committee Meeting was called to
order by the Chairman, Joe Clark. Those present
for all or part of the meeting were:
W. Val Metanomski
* Peter Rusch
* Gerald Vander Stouw
A. Chairman's Report
Joe Clark announced the results of the election.
Gary Wiggins will serve as ChairmanElect:
Bonnie Lawlor is our new Councilor;
Peter Rusch was elected to the position of
Alternative Councilor; and Victoria Veach
was re-elected Secretary.
B. Secretary's Report
The minutes of the Fall 1991 Executive Committee
Meeting as published in the Spring
1992 Chemical Information Bulletin, (CIB),
Vol. 44, No. 2, were approved. The Division's
Annual Report was submitted to the Divisional
Activities Office in mid-March. Copies
were sent to members of the Executive Committee
and to Committee Chairs.
C. Past-Chairman's Report
In B. J. Lide's absence, Val Metanomski reported
on the slate of candidates for the 1992
election. The candidates for chair-elect are
David Saari and Gerald Vander Stouw; Patricia
Dedert and Marge Matthews are the candidates
D. Treasurer's Report
Pat Dedert reported that the assets of the Division
at the end of 1991 totaled over $70,000.
This represents a 2% increase over the year,
in spite of extraordinary expenditures of
2 CHEMICAL INFORMATION BULLETIN
$3,300 in the form of contributions to the
Campaign for Chemistry, the SMD Format and
the CMA Trust Fund. However, for 1992 the
budget lists expenditures of over $30,800 and
an anticipated income of $22,400, for a decrease
in assets of 12%. This is due to a
decrease in interest rates coupled with increased
After consultation with members of the Executive
Committee in March, Pat moved $10,000
of the Skolnik award fund to AAA-rated government
bonds. She emphasized the need
for the treasurer to have guidelines defining
the degree of risk the Division is willing to
accept to be able to move beyond CD's to
increase the interest earned on the Division's
assets. The possibility of investing some of
the Division's money in an ACS-managed investment
fund was suggested. The group
discussed the need for a long-range business
and financial plan for the Division, including
plans for building an endowment fund for the
Division's awards. Joe Clark reported that he
had contacted Carlos Bowman to request his
leadership for a CINF Investment Committee,
as had been suggested at the 1991 Fall Meeting,
but Carlos was unable to participate because
of personal reasons. Suggestions
were made to consult past treasurers to see
if any of them would be interested in helping
with the investment of CINF funds; to call
for volunteers from the Division's membership
through the Newsletter; and to ascertain
what help was available from ACS. Richard
Love volunteered to talk with Bryan Burnstein,
of ACS's Investment and Finance Division,
about what help ACS can provide.
Arleen Somerville suggested the group first
focus on a business plan and then establish
guidelines for investment. Peter Rusch suggested
Bonnie Lawlor as the leader of a
group to establish a business plan and Jean
Marcali as a leader of the investment planning
group. Joe agreed to contact Bonnie and
Jean. It was decided that the Fall Planning
meeting would focus on financial planning for
D. Audit Committee Report
In a written report, Patricia Lorenz and Paul
R. Finkernagel reviewed the findings of their
audit of the Division's financial records for
the period August 1 to December 31, 1991.
They concluded that the "financial records of
the Division are in excellent condition," and
recommended that the next audit be scheduled
for August, 1992.
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American Chemical Society. Division of Chemical Information. Chemical Information Bulletin, Volume 44, Number 3, Summer 1992, periodical, Summer 1992; Philadelphia, Pennsylvania. (digital.library.unt.edu/ark:/67531/metadc5650/m1/4/: accessed August 18, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; .