Jeff Chapman responds to Barb Garwood re: Spending cap on executive director and documents-in-hand during Board votes

July 3, 2006

Dear Dr. Garwood,

Thanks so much for taking the time to write and giving me a chance to reply. There has been a lot of misinformation floating around regarding these 2 issues, and I hope I can clear things up for you. At the June meeting, a motion was made setting the limit that the Executive Director could spend without Board approval at $500,000. A substitute motion was made by Conni Ramser to set the limit at $100,000. I seconded and the vote passed 5-4 (2 Board members were not present).

There was no action taken on the issue of having documents in hand when they are brought before the Board, but I fully expect the issue to be revisited in August. At that time, barring compelling arguments against it, I will vote to support this policy.

Thanks again for writing - I hope you will feel free to write again with any comments/concerns.

Happy Fourth,

Jeff Chapman

STRS Board