Business Meeting Minutes s1

HBMA Business Meeting Minutes September 7, 2007

Bellagio, Las Vegas

President Sherri Dumford called the meeting to order. Bylaws require that a quorum is required to conduct the Corporation’s business. President Dumford declared a quorum of the Members was present and the Annual Business Meeting could proceed.

Financial Report was provided by Mr. Scott Everson, HBMA Treasurer. The report referenced the year end financial statements as published in the HBMA Annual Report that was sent to all HBMA members. An interim financial report was also made available (upon request) to all members attending the meeting.

Mr. Everson informed the membership of the positive results of an independent financial audit; the increased scrutiny and financial controls being implemented within HBMA and ISAM operating process.

Mr. Everson reported that the organization is financially stable, has built up a “rainy day” fund and the board direction is to evaluate opportunities for better utilization of financial resources to benefit the membership.

Ms. Holly Louie, Compliance Committee Chair, reported on recent HBMA service additions based on member input. Her presentation entitled “You ask, we answer” illustrated response to member requests within the compliance committee.

Board of Directors Nominating Committee: Mr. Bing Herald, past president of HBMA and chairman of the nominations committee introduced the slate of nominees for HBMA Board positions. Nominees for the position of Director included Scott Everson, Holly Louie, Don Rodden and Bill Carns. He noted that the committee recommended a departure from past nomination practices and this year presented only the number of nominees required to fill vacant seats. He informed the membership of the board member evaluation process which included examination of past volunteer involvement and achievements within HBMA. He concluded with a request for the following motion:

“Motion to affirm the slate as presented for the HBMA Board of Directors” Motion, Rich Papperman. Second, Barry Reiter. Motion Passed.

President Dumford then recognized Marla Harmon and Peggy Wagner for their efforts in arranging the HBMA Auction. She further encouraged all to attend this event as it is a significant fundraiser for HBMA and the selected charity.

Motion to adjourn was forwarded by Rich Papperman. Seconded by Emily Osetek. Motion Passed.

Respectfully Submitted,

Randal Roat HBMA Secretary.