AHC President's Year End Report
Dear brothers and friends: As this year comes to an end for the current AHC Board at our next Founder’s Day dinner on Saturday, February 6, 2010, I want to take this opportunity to summarize the events of this past year and allow you to measure our accomplishments and review the tasks that remain for Rhode Island Beta. Chris Conti #400 – President Tom Linhares #142 – Vice president Joe Hart #431 – Treasurer Jim Grueb #169 – Secretary Bruce Tavares #250 – National chapter advisor Ray Marshall #171 – Leasing committee chairperson Mike Chmura #118 – Furniture committee chairperson Steve Macchioni #271 – Social committee co-chairperson Carl Disanto #300 – Social committee co-chairperson John Spagnolo #126 – Member at large Andy Marcoux 134 – Member at large Lee Arnold #28 – Member at large William Bowers #15 – Honorary member at large Our #1 priority continues to be to retain and preserve the chapter house: • ZTA sorority took possession of the house on July 1. ZTA has a 3 year lease with options for two 1 year renewals. The lease term matches the expiration of our National suspension and expected time to re-charter our chapter. The sorority painted and moved in new furnishing including a grand piano with thanks to Joe Hart for coordinating the move in. The place looks great. • Installed the bricks from phase 1 in our front walk. If you have already bought a brick thank you but please consider buying another one if you haven’t bought a brick don’t miss phase 2 and buy a brick today. • I am happy to report that in light of the inherited operating deficit from the fall 2008 semester of $69,000 we ended on August 31 our fiscal year end with only a slightly higher deficit of $82,000. The turn-around was due to: o A board philosophy adhering to strict cost controls. o Although we had fewer occupant and had to accept a lower room and board reimbursement rate from the University boarders the key was having occupants for the spring 2009 semester that cared for the house by not causing excessive damage. o The board’s demand for timely monthly financial reporting. o Joe Hart’s tireless efforts as treasurer. • We have completed the first year of our new mortgage and in light of the operating deficit we missed a key cash flow covenant with the bank. The board worked throughout the year to reestablish our credibility with the bank and our loan remains under credit review. • We started September 2009 the new fiscal year with an operating budget that meets the bank loan requirement for cash flow. To date we continue to work at meeting our cash flow projections. Other agenda items: • As usual the annual basketball game held in February 2009 was also a great success thanks to Br. Guglietta. This has become an important social event for alumni of R.I. Beta since the demise of homecoming events. Thanks Bill looking forward to the next one maybe URI will win this time. • Our social committee headed by Steve “Big Mac” Macchioni and Carl “Meat” Disanto held a new event a beer tasting event in June and our annual pop-top golf event in September. Traditionally funds raised at the social events go to our national scholarship fund, this year funds were applied to the repair costs to the house. Great year for R.I. Beta’s social calendar and thanks to the hard work by Steve and Carl. Stay tuned for both of these events in the new year. • Under the direction of Bruce Tavares, Br.s Andy Marcoux and Mike Chmura have created the Chapter Advisor’s Council. The council will act independently from the AHC but provide a committee report to the AHC. o The primary purpose of this council is to provide the undergraduate members with the support needed to be a successful chapter of Phi Kappa Psi. A secondary benefit is that the undergraduate chapter will no longer be directly supervised by the AHC. This will allow the AHC to concentrate on its primary responsibilities to preserve the financial security of the corporation and retain and preserve the chapter house. This council has much work to do: o Plan and prepare for the re-charter of our chapter. and plan and prepare for the re-charter of our chapter. o Attend national education programs. o Coordinate the National response team for re-colonization. o Promote the ideals of our National Fraternity to the undergraduate chapter. o Promote the adherence to the University guidelines for a fraternity. o Maintain the guidelines for the R.I. Beta national scholarship fund. o Provide support and guidance for the new rush program. o Provide support and guidance for the successful operation of an undergraduate chapter of Phi Kappa Psi. o Recruit new members to the advisor’s council. • We have utilized the ribeta.com website to regularly post updates and items of interest. If you have not visited the site please make it a habit so you can stay up to date with the chapter. We still have much to do in the remaining time left for the term of this board and beyond. • Restore the sinking fund budget of funds necessary for the future needs to physical structure of the building. • Continue to meet our bank obligations and prepare for the refinancing of the mortgage. • Replace the lost or stolen historical artifacts. • Replace furnishings in each room that date back to 1969. • Resolve final legal issues related to the general contractor for the renovations and prior building committee agreements. • We must continue to be a gracious and supportive landlord to our new tenant. ZTA is a new national chapter at URI and with our help to foster a great relationship they will prosper and become a life long partner to RI Beta. ZTA can become an important partner for our rush needs when we re-colonize. • Foster continued interest in our social events to strengthen the bonds we share as alumni and hope to recruit more volunteer support. • Assist the University to complete the expansion and improvement plan for Fraternity Circle though our continued participation in the Inter-fraternity Alumni Council. • Improve the communication of alumni and chapter reports to the Shield and URI Quadrangles magazines. • As another rush tool we need to increase participation in contributing to the RI Beta Chapter scholarship fund with National. • Energize the Chapter Advisor Council to prepare the steps necessary with National and the University for the re-colonizing of our undergraduate chapter 4 years from now. Point of information: As we all reach that time in life to begin estate planning please keep in mind “where there’s a will there’s a way” Please remember the R.I. Beta Scholarship fund held by our National Endowment Fund and the Alumni House Corporation as a great legacy with R.I. Beta. Please log on to the new ribeta.com and stay tuned for notices of upcoming events and updates. Thank you to all the AHC members for their tireless efforts during this difficult year and to all the alumni for your continued support. Happy holidays and a very happy new year to all. Fraternally, CC #400…