From Nancy Hamant, July 17 - 21, 2006
From Nancy Hamant, 7/16/06
To One and All,
I deeply regret that I am not ready for our fiftieth Wedding Anniversary
Party this Saturday, July 22nd. Therefore, I will be unable to attend
CORE's meeting on Thursday to "iron out" the details of the proposal
for reorganization.
After events during the month of July at STRS, I believe it is imperative
to reorganize CORE for the following reasons:
1. STRS activities and actions for the Pension Fund and Health Care
Fund absolutely must be monitored. Who can doubt that monitoring
is needed when STRS staff and Board members wanted to continue
the past practice of permitting the Executive Director "unfettered"
spending ability--it was even proposed by one Board member, Judith Fisher,
that the Executive Director could spend up to $1,000,000 without coming
to the Board for approval. Thankfully, the spending amount was held to
$100,000 which is not unreasonable considering that the Board meets
monthly, at which time it can approve proposals.
2. Which brings me to second reason, Judith Fisher's resignation from the
STRS Board. It was evident from Ms. Fisher's "body language" when
approval was given for the $100,000 spending cap that she was not happy
with the vote. However, I was shocked by her resignation and her letter
to Governor Taft. Shocked was not the word--sick was more accurate!
Sick to heart, to think that one of our STRS Board members had so
little regard to the "fear, concern and betrayal" that most STRS members
feel about what happened in the past at STRS that she would feel that
the STRS Executive Director's unfettered power was more important
than protecting the assets of STRS members. The STRS administrative
fund should be no more considered a "kitty" for unauthorized spending
(also for bonuses) than the STRS Pension Fund should be considered
for such spending. Ms. Fisher's letter of resignation exemplified the
"ultimate power play", she took her "side of the story" directly to Ohio's
top official--Governor Taft.
In fact, I do not understand at all why Damon Asbury did not step in and
end the controversy. He is the Executive Director and should provide
the leadership to stop such controversy. All Damon Asbury had to do was
say that in the future, since some Board members wanted more detail on
spending, he would present proposals for spending to the STRS Board,
with copies of contracts prior to asking the Board to vote on them.
Damon can also require the staff to provide more detailed "line item"
budgets versus those with (for the most part) for totals for STRS Board
examination prior to voting on the budgets. Dr. Asbury,as chief executive officer,
needs to put the interests of STRS members first! Isn't that his responsibility
as chief fiduciary officer responsible for the fund?
None of us who are a part of CORE expected to last forever, we thought it was
necessary due to the STRS mismanagement and spending crisis. HOW NAIVE
WE WERE! The following are my ideas to redesign CORE for the LONG HAUL:
1. We need to reorganize to become "efficient". In my mind that means
probably FOUR full meetings a year. Every single month that STRS
meets is beginning to stretch many of us too thin and it keeps others
from becoming more active. We retired to enjoy our families, let's set
CORE up so that we can do that. With the specter of $100 a barrel oil
costs and $4.00 a gallon gasoline, this would be also cost effective.
2. We need to MONITOR THE MONTHLY STRS MEETINGS.
We also NEED TO SUPPORT JOHN LAZARES AND DENNIS
LEONE! Therefore,CORE needs to establish a volunteer schedule to
have at least two people attend each STRS meeting on the presentation
day. Responsibility of the two people would be to make at least one
presentation for CORE and to take notes to send out over the
internet system. That means we would need at the most 22
volunteers--probably less, as the four annual meetings should
also correspond with STRS Board meetings. The volunteer
setup would also help distribute CORE work--as one or two
persons should not have to be the only ones responsible for
taking minutes or presenting.
3. CORE's strength is in it's rapid response to issues, so the Alert
system needs to continue. John Curry's and Ryan Holderman's
advice on improving this system needs to be considered.
4. It would benefit CORE if the four corners of the state and the
central area would be covered by those who are "Advisors".
That should help ensure that ideas are generated across
Ohio to help with STRS issues.
5. Terms of Officers (whatever CORE calls them) should be made to
encourage others to step forward. No one (at my age) wants to
deal with a "life sentence".
AGAIN, I AM SORRY THAT I CANNOT ATTEND ON THURSDAY. I WISH YOU
WELL IN YOUR DELIBERATIONS AND LOOK FORWARD TO THE SEPTEMBER
PRESENTATION!
Nancy B. Hamant
_______
From John Curry, 7/17/06
Due to my work schedule, I will also be unable to make the meeting. I do have an opinion - for what it's worth: I would like to wait for a vote for reorganization until the summer is over. We have a difficult time getting a large group together during the summer (and also during the bad weather in winter). Fall seems (to me) to be the best time for a large gathering on a vote concerning an important decision. I don't wish to be counter productive and do understand that the "show must go on."
_______
John and All,
It is my understanding that the Thursday meeting is just to
develop a proposal to take to the Annual meeting in September
at which time there will be a vote. That has always been what
was proposed.
Nancy (Hamant)
To One and All,
I deeply regret that I am not ready for our fiftieth Wedding Anniversary
Party this Saturday, July 22nd. Therefore, I will be unable to attend
CORE's meeting on Thursday to "iron out" the details of the proposal
for reorganization.
After events during the month of July at STRS, I believe it is imperative
to reorganize CORE for the following reasons:
1. STRS activities and actions for the Pension Fund and Health Care
Fund absolutely must be monitored. Who can doubt that monitoring
is needed when STRS staff and Board members wanted to continue
the past practice of permitting the Executive Director "unfettered"
spending ability--it was even proposed by one Board member, Judith Fisher,
that the Executive Director could spend up to $1,000,000 without coming
to the Board for approval. Thankfully, the spending amount was held to
$100,000 which is not unreasonable considering that the Board meets
monthly, at which time it can approve proposals.
2. Which brings me to second reason, Judith Fisher's resignation from the
STRS Board. It was evident from Ms. Fisher's "body language" when
approval was given for the $100,000 spending cap that she was not happy
with the vote. However, I was shocked by her resignation and her letter
to Governor Taft. Shocked was not the word--sick was more accurate!
Sick to heart, to think that one of our STRS Board members had so
little regard to the "fear, concern and betrayal" that most STRS members
feel about what happened in the past at STRS that she would feel that
the STRS Executive Director's unfettered power was more important
than protecting the assets of STRS members. The STRS administrative
fund should be no more considered a "kitty" for unauthorized spending
(also for bonuses) than the STRS Pension Fund should be considered
for such spending. Ms. Fisher's letter of resignation exemplified the
"ultimate power play", she took her "side of the story" directly to Ohio's
top official--Governor Taft.
In fact, I do not understand at all why Damon Asbury did not step in and
end the controversy. He is the Executive Director and should provide
the leadership to stop such controversy. All Damon Asbury had to do was
say that in the future, since some Board members wanted more detail on
spending, he would present proposals for spending to the STRS Board,
with copies of contracts prior to asking the Board to vote on them.
Damon can also require the staff to provide more detailed "line item"
budgets versus those with (for the most part) for totals for STRS Board
examination prior to voting on the budgets. Dr. Asbury,as chief executive officer,
needs to put the interests of STRS members first! Isn't that his responsibility
as chief fiduciary officer responsible for the fund?
None of us who are a part of CORE expected to last forever, we thought it was
necessary due to the STRS mismanagement and spending crisis. HOW NAIVE
WE WERE! The following are my ideas to redesign CORE for the LONG HAUL:
1. We need to reorganize to become "efficient". In my mind that means
probably FOUR full meetings a year. Every single month that STRS
meets is beginning to stretch many of us too thin and it keeps others
from becoming more active. We retired to enjoy our families, let's set
CORE up so that we can do that. With the specter of $100 a barrel oil
costs and $4.00 a gallon gasoline, this would be also cost effective.
2. We need to MONITOR THE MONTHLY STRS MEETINGS.
We also NEED TO SUPPORT JOHN LAZARES AND DENNIS
LEONE! Therefore,CORE needs to establish a volunteer schedule to
have at least two people attend each STRS meeting on the presentation
day. Responsibility of the two people would be to make at least one
presentation for CORE and to take notes to send out over the
internet system. That means we would need at the most 22
volunteers--probably less, as the four annual meetings should
also correspond with STRS Board meetings. The volunteer
setup would also help distribute CORE work--as one or two
persons should not have to be the only ones responsible for
taking minutes or presenting.
3. CORE's strength is in it's rapid response to issues, so the Alert
system needs to continue. John Curry's and Ryan Holderman's
advice on improving this system needs to be considered.
4. It would benefit CORE if the four corners of the state and the
central area would be covered by those who are "Advisors".
That should help ensure that ideas are generated across
Ohio to help with STRS issues.
5. Terms of Officers (whatever CORE calls them) should be made to
encourage others to step forward. No one (at my age) wants to
deal with a "life sentence".
AGAIN, I AM SORRY THAT I CANNOT ATTEND ON THURSDAY. I WISH YOU
WELL IN YOUR DELIBERATIONS AND LOOK FORWARD TO THE SEPTEMBER
PRESENTATION!
Nancy B. Hamant
_______
From John Curry, 7/17/06
Due to my work schedule, I will also be unable to make the meeting. I do have an opinion - for what it's worth: I would like to wait for a vote for reorganization until the summer is over. We have a difficult time getting a large group together during the summer (and also during the bad weather in winter). Fall seems (to me) to be the best time for a large gathering on a vote concerning an important decision. I don't wish to be counter productive and do understand that the "show must go on."
_______
John and All,
It is my understanding that the Thursday meeting is just to
develop a proposal to take to the Annual meeting in September
at which time there will be a vote. That has always been what
was proposed.
Nancy (Hamant)
posted by Kathie Bracy at 3:33 PM
<< Home