June 3, 2006

Welcome! Dial 609-258-8489 to connect

conference bridge at 9:00 am EDT Meeting materials available online:

http://www.princeton.edu/~fotb/explore/boardbiz.shtml Meeting will begin at 9:15 am Please enjoy some breakfast

June 3, 2006

FOTB Annual Meeting

Jonathan D. Mendelson ’97FOTB Board President

June 3, 2006

Agenda Call to Order Leadership/Infrastructure Discussion

– Role Definitions– Term Requirements– Amend Bylaws

Year in Review– Recap of Activities– Financial Analysis

Other business Adjourn

June 3, 2006

Call to Order Establish quorum Review minutes from last year Elect President

June 3, 2006

Leadership/Infrastructure I

Role definitions– Directors– President– Vice President– Secretary– Treasurer

Changes needed to ensure continuity of leadership

June 3, 2006

Leadership/Infrastructure II

Proposed Changes for Directors– “3/5” attendance requirement for

annual meetings– Serve as Secretary or other titled role

at least once every 5 years– Terms shall overlap (14 months)

Please refer to Articles III & IV for details

June 3, 2006

Leadership/Infrastructure III

Proposed New Offices– Vice President– Secretary– Treasurer

Other Changes– Election of President– Quorum/Remote Attendance

June 3, 2006

Leadership/Infrastructure IV

Impact upon today’s meeting– Election of President– Minutes– New Board Members

Discussion Vote

June 3, 2006

Year in Review: FY06 Operational expenses meet plan Strong alumni gift receipts Armory space relocation underway New capital expenditures

– New Band Van– Uniform upgrades– Instrumentation

June 3, 2006

Operating Fund Results I

FY06 totals to date second only to FY05 (year with San Diego trip)

Almost a $7,000 increase over FY04

Does not include Endowment

1999 2000 2001 2002 2003 2004 2005 2006 (YTD)

$ 13,681 $ 17,843 $ 16,653 $ 17,059 $ 11,368 $ 15,223 $ 33,218 $ 22,067

June 3, 2006

Operating Fund Results II

Donations peak in October Trends appear to support multiple

appeals in the fall/winter

07/05 Count 1 07/05 Total $25.0008/05 Count 1 08/05 Total $100.0010/05 Count 84 10/05 Total $6,711.0011/05 Count 40 11/05 Total $3,370.0012/05 Count 43 12/05 Total $3,883.0001/06 Count 46 01/06 Total $3,628.0002/06 Count 7 02/06 Total $1,175.0003/06 Count 4 03/06 Total $725.00Grand Count 226 Grand Total $19,617.00

Account 645-2036Total Gifts Total Amounts

June 3, 2006

Fundraising Review Typical mailing schedule

– September: Appeal 1– December: Appeal 2– May: Reunions Announcement

Two mailings before end of tax year

Mailing list needs repair– No progress made since last year– Need to verify alumni as well as

current parents are added

June 3, 2006

FY06 Capital Expenditures

Purchase of used Ford van– Asset price of $14,700– University will allow installment payments

of $1,500 over 10 years with zero interest The undergraduate officers determined

the following other needs:

Planned Capital Expenses

Item BudgetRugby Shirts 850$ Blazers $ 2,050 Pants $ 2,000 Band Van Painting 3,000$

June 3, 2006

Band Van Appeal Results

No single group met the naming goal of $5,000:

Group Gift Amount1975 Alumni $2,275.001956 Total $1,875.001979 Alumni $1,280.002006 Parents $1,225.001974 Alumni $1,125.001973 Alumni $1,000.00

Should the naming challenge for the Band Van continue into FY07?

FY2006 Donations by Affiliation

June 3, 2006

FY06 Financial Review Books do not close until 6/30/06 No unusual operational items. Distortions

– Reunions expenses not yet recorded – End-of-year expenses not yet recorded– VISA card makes expense tracking

difficult Note: Comparisons are made with

FY04

Financial Analysis: Summary

Cash flow is strong, but note these issus:– Does not yet reflect FY06 Band Van contribution– Capital expenditures have not yet been billed– Considerable debt to Dean of Students remains

FY2006 FY2004 ChangeDescription Favorable

Preliminary Final (Unfavorable)

TOTAL INFLOWS (44254.90) (40474.90) 3780.00TOTAL OUTFLOWS 33185.84 31981.69 (1204.15)TOTAL OUTFLOWS LESS CAPEX 28044.76 29804.74 1759.98

NET OUTFLOW (INFLOW) (11069.06) (8492.53) 2576.53

NET OUTFLOW (INFLOW), LESS CAPEX (16210.14) (10669.48) 5540.66

PUB/FOTB Integrated Financial Details

May 30, 2006

Endowment income over $5,900 Other Income low in FY06 because

Reunions gigs have not yet been paid

Financial Analysis: Inflows

Description

Gift (22,067.00) (15,597.79) 6469.21(18,634.05) (18,413.10) 220.95(3,553.85) (6,463.33) (2909.48)

Xfer - - -

(44,254.90) (40,474.22) 3,780.68

FavorablePreliminary Final (Unfavorable)

PUB/FOTB Integrated Financial DetailsMay 30, 2006

FY2006 FY2004 Change

INFLOWS

UniversityOther Income

TOTAL INFLOWS

Reunions costs will post in late June Capital expenditures will extend into FY07

Financial Analysis: Outflows

Description

7,742.60 7,346.25 (396.35)- - 0.00

1,119.10 788.89 (330.21)5,141.08 2,176.95 (2964.13)

- - 0.001,092.09 4,494.73 3402.64

240.00 332.33 92.331,271.27 4,623.63 3352.369,123.03 6,568.63 (2554.40)3,468.68 4,629.61 1160.933,987.99 1,020.67 (2967.32)

33,185.84 31,981.69 (1,204.15) 28,044.76 29,804.74 1,759.98

FY2006 FY2004 ChangeFavorable

Preliminary Final (Unfavorable)

OUTFLOWS

SalaryAdvertisingAutoCapexReimbursementsDiningOfficeOperationsTransportationUtilitiesOther Expenses

TOTAL OUTFLOWSTOTAL OUTFLOWS LESS CAPEX

June 3, 2006

Account Analysis: Balances

541-1890 (Band)

($12,968.50)

Should return positive in FY07

Reunions 2006 income will fix balance

645-2036 (FOTB)

$37,483.75

Under CapEx plan, balance will likely fall to under $20K.

Strong cash position may enable FOTB to retire remaining PUB debt

June 3, 2006

End-of-year Expenses Reunions meals for undergraduates FOTB Board Meeting Reunion tent and refreshments May Princeton Upbeat mailing Unclaimed student expenses

June 3, 2006

FOTB Issues for FY2006 Space reassignment will occur Must update FOTB mailing list

– No progress since last meeting– Need volunteer

Improve succession plan and strengthen roles– Modification of Bylaws– Closing on outstanding tasks

June 3, 2006

Undergraduate Update

June 3, 2006

PUB Endowment Update

Steady Progress– Began with $15,000 transfer in 1999– Met $50,000 requirement 2 years

early– Growth plateau in last 3 years

FY06 Details– $6,021 in contributions– Earned over $5,900 towards budget

Book Value on 3/1/06$118,490.56

PUB greatly benefits from this resource!

June 3, 2006

Adjourn Final comments/questions Set meeting date/time for next

year Today’s Band/FOTB Activities

– 11:00 a.m. Fred Fox ’39 Memorial Concert (Cannon Green)

– Post P-Rade Band Reunion (South of Eno Hall)