ASWA - Bellevue Washington, Resources for Women CPAs.

Our long time ASWA member Lori Segale, CRPC and Rachel Knight, CMFC of Waddell & Reed gave a wonderful and informative presentation on the Top Ten Financial Concerns. Both Lori and Rachel are Financial Advisors located in Bellevue. Their top ten concerns were that:

1) People were not paying themselves first

2) Loaning money from your retirement account to family and friends

3) Asset allocation and diversification

4) Pulling from different buckets from your retirement source

5) People underestimate expenses in retirement years

6) Underestimating life expectancy

7) Which results in income replacement...having to pickup a parttime job

8) Long Term health caresolutions

9) Estate Planning

10) Comprehensive financial planning-taking a look at your assets and lifestyle

It is hard for many people to face the realities of inflation and that they may not have enough to retire on, but they would sit down and work with your CPA and Attorney to map out a financial strategy so you could meet your retirement goals. Thank you Lori and Rachel for your in-depth tips on what to watch out for.

ANNOUNCEMENTS

ASWA SEATTLE CHAPTER IS HOSTING THEIR

14^TH ANNUAL SCHOLARSHIP DESSERT AUCTION

Once again, Seattle will transform their regular meeting place, the College Club*, into a fantastic pastry and confection

Oh, the sweets there will be!

Please consider joining them for this festive event. No speaker, no program; however, you must make a reservation, even if selecting the "coffee-only" option

Call 206-467-8645, or reserve on-line at reservations@aswaseattle.org

For more information, as the date draws nearer, visit their website at www.aswaseattle.org, or call Patricia Angell at 206-236-1932. Hope to see you there!

* The College Club is located at 509 Madison St, at 5th Avenue & Madison Street. The garage entrance is on 5th Ave (left lane) and parking is free after 5 pm.

American Society of Women Accountants

Bellevue Chapter No. 159

Board Meeting Minutes

October 16, 2007

CALL TO ORDER: The October 2007 board meeting was called to order at the Coast Bellevue Hotel. Caroline Thienes, President called the meeting to order at 5:10 PM. Acting Secretary: Laura Ohringer

QUORUM: A quorum was established.

ATTENDANCE: Nine Board members were present: list attached to President's copy per standing rule 231.04. Those in attendance were: Caroline Thienes, Paula Bishop, Laura Ohringer, Tina Farmer, Eleanor Siverts-Akerman, Kristina Rusnak, Mellany Winters, Susan Nelson, and Linda Miller.

ACCEPTANCE OF MINUTES:

Since Eileen Elamin was absent, Paula Bishop will forward the minutes from the September 2007 board and dinner meetings for approval by email.

TREASURER'S REPORT:

Tricia Faughnan was absent, but there was preliminary discussion of the 2007-2008 budget, which Tricia has been working on. One area discussed was the 2008 Regional Conference in Bellevue. The early bird registration fee will be $250. Our chapter policy is to reimburse members for up to 1/2 of the conference fee. However, this is more relevant for out-of-town conferences. It was decided that there should still be some kind of incentive discount for Bellevue chapter members (possibly $25 per person). We will run it through the budget. The President's and President-Elect's budget should each cover the conference fee of $250. $750 will be moved from the President's budget and $750 from the President-Elect's budget, for a total of $1,500 added to the member education budget, since Paula Bishop and Julie Bollerud will be representing the Bellevue chapter as delegates at this year's National Conference in Orlando.

Budgeted advertising revenue of $1,000 seems too high since the Robert Half revenue has decreased. The budget will be reduced (possibly to $500).

NEW BUSINESS:

Eleanor spoke about the proposed bylaw amendment that will be voted on at the annual business meeting at the National Conference. The amendment would increase the number of members of the National Board. It would allow for as many as 18 board members (up from 14), and would allow more flexibility in the size of the Board.

COMMITTEE REPORTS:

Membership - Paula will update the member listing and email it out to all members. There was discussion of the length of time it takes National to include new members in their listing.

Arrangements - There are 26 attendees at tonight's meeting, including a few new members. For next month's Dessert Auction, Tina has reserved the larger room, and we will have a taco bar.

Programs - The dessert auction is in November, and we will circulate a sign-up sheet at tonight's dinner meeting. Also, Mellany suggested the possibility of handing out a Regional Conference announcement at the Dessert Auction. There was some initial discussion about whether to hold our April dinner meeting on the regular night, which would fall on April 15^th. Due to time constraints, further discussion was postponed until a later date.

Regional Conference - The next planning meeting will be on November 10^th at the Bellevue Public Library. A proposed theme of the conference is IT.

The board meeting was adjourned at 6:10 p.m.

Caroline Thienes, President Laura Ohringer, Acting Secretary

The October 2007 dinner meeting was called to order at 6:35 p.m. by Caroline Thienes, President.

Caroline welcomed the group, and then each attendee introduced themselves.

Announcements:

The National Conference will be held in Orlando on October 25-27. Susan Nelson made a motion to nominate Paula Bishop and Julie Bollerud as the Bellevue chapter delegates. The motion was seconded, and the members approved. Paula and Julie will attend the annual business meeting and vote on the proposed bylaw amendment. They will be sent to the meeting uninstructed, to enable them to gather information about the proposed bylaw amendment and vote on behalf of our chapter.

Eleanor Siverts-Akerman then discussed the new bylaw amendment and the rationale behind it. The amendment would increase the number of members of the National Board. It would allow for as many as 18 board members (up from 14), and would allow more flexibility in the size of the Board. Currently, there is $700 allowed for each National Board member for travel expenses. Adding four board members would increase the budget by $2,800. The effect on dues has not yet been discussed.

Shannon Orr made an announcement about the upcoming Dessert Auction on November 20^th, to raise funds for scholarships. Members are encouraged to bring guests.

The Regional Conference will be held in Bellevue on May 30-31, 2008. The next planning meeting will be Saturday, 11/10 at 10:00. We are looking for speakers and sponsors.

Paula Bishop announced the sale of Mater Tax Guides for $50, and a sign-up sheet was circulated.

At 7:20 p.m., our guest speakers, Lori Segale and Rachel Knight from Waddell and Reed gave an excellent presentation on personal financial planning. The meeting was adjourned at 8:20 p.m.

Caroline Thienes, President Laura Ohringer, Acting Secretary