Board Meeting Friends of the First Company Governor’s Horse Guards, Inc

Dated: 24 October 2006 Locations: 99 Restaurant Avon, CT Time: 17:00 Hrs.

Those in attendance: Board Members: Richard Belliveau, Bill Cowell, Ken Nelson, James Murdock, Richard Morgenstern and Richard St. Pierre. Absent: Everett Kandarian

The Friends of the First Company Horse Guard held its quarterly business meeting at the 99 Restaurant in Avon, CT on Tuesday 24 October 2006. After a nice dinner paid for by individual members, a business meeting was conducted and covering the following:

Financial Review:

Treasurer’s report: Ken Nelson reviewed the financial data for 06 Golf Tournament, June 06 Horse Show, Old Timers night and miscellaneous income and expenses. The current cash balance is $24,798.34 of which $13,119.12 was generated from the golf tournament and $17,187.36 generated from the June Horse Show. (See attached treasurer’s report for more detail). Ken Nelson expressed concern that the troop has cancelled the October Horse Show for 2007 based on the positive results of the 06 Golf Tournament. The thoughts of the group were that the troop should have continued the show for at least one more year to insure that the golf tournament would be able to replace Horse Show revenue.

The board reviewed outstanding bills and approved them for payment. The bills included $120 for raffle donation at Old Timers Night, $143.40 yearly payment for WEB site for Friends of the 1GHG and $100 for printing program for Old Timers night.

The fiscal year has been changed from 30 June to end year of the calendar year..

New business

• Ken Nelson raised the issue of bonding for the Treasurer and insurance for Board of Directors. He will look into cost, associated issues and report back.

• Richard Belliveau raised concerns about budgetary issues and the fact that the troop has been spending more money than they have been receiving for last 2 years. He has brought the issue to the attention of the Executive Board of 1 GHG, and they will address this. See attached for details.

• The loan of $6,000 give to 1 GHG and not yet been reimbursed to the Friends of 1 GHG but is expected to happen shortly.

• A discussion was undertaken on communicate with 1 GHG and it will occur through the Executive Board of the organization. We will notify then of our meeting dates they can provide any information they determine necessary.

Next meeting. January 2007

Submitted,

William J. Cowell

Secretary