PROPOSED PROGRAM REALIGNMENT AS OF AUGUST 6, 1987 1. This proposal is offered based upon the assumption that the recommendation of the Compensation Committee is adopted by the Board. The proposed monthly savings from #6 a, b, c, were estimated at $2086. The monthly salary for the publications position is $2460. Money to apply for consultant would be $374 per month or about 30 hours a month. 2. Robert has 3+ weeks of vacation pay earned plus the 2 weeks severance pay plus the 30 day notice is a total of 9 weeks at $615 a week is $5535 cost before any savings are realized. This money will have to be made up from some source in addition to the delay until savings from the other recommendations takes effect. 3. It is requested that authorization be given to sell the bus in Stelle, and the five 100 oz. silver bars in the safe with an estimated value at $8 an oz. of $14000. 4. It is also requested that authorization be given that if funds become absolutely necessary that the portion of the Philadelphia Fund that people did not request be refunded to them be transferred into TSG general account. a. A potential problem with doing this is that our current policy is that no funds will be refunded until the audit is completed and the lawsuit is concluded and this has been communicated to several donors who have called asking for their money. Our attorney has verbally stated to Robert that there is no problem in our doing the above if we so choose; in fact, we do not even have to return the money at all according to him. It is recommended, that we wait until the lawsuit is completed when we can communicate the full situation to the donors and request them to re-consider. b. One large donor asked about the interest accumulated on the donated money. It is recommended that we not refund the interest since there have been administrative costs associated with this whole thing that are not being charged against the Fund. c. There is one full bag of junk silver coins that was purchased by the Fund for $6150. It is worth $5430 if sold back to a dealer and worth $5975 if we could find a retail buyer. Authorization is requested to sell the silver when there is a run-up in the price. d. We will need to allow about $5000 for accounting fees which will be billed to Richard Kieninger as part of the legal expenses for dissolving the Fund since the attorney recommended this procedure. So eventually this money will be recouped but it can not be considered as available at this time. e. Phil. Fund Balance as of August 1, 1987: $66,575.00 Silver Coins: 5,432.00 Sub-total: @$72,000.00 Less Elected Refunds: @56,000.00 Less Estimated Accounting Expense: @5,000.00 Available Now to TSG: @$11,000.00
	Return