Jacksonville Area Golf Association

Trustees Meeting

 San Jose Country Club

June 25, 2008

Members Present:  Tom Tierney, Lee Crowe, Jerry Kay, Bob Streightiff, Joe Power, Jim Edwards, Jim Andrews , Barney Poston, Ed Witten and  Earl Kelly.

Chairman – Tom Tierney called the meeting to order at 12:03 PM. He reported that we currently have 23 scholars. We also have applications from 23 for consideration. The Fund balance as of 6/24/08 is $450,041.14 It is expected that 8 ½% will be a reasonable expectation of growth over the next 10 years.

ACTION

1)  Scholarships were discussed and awarded to 11 of the 23 applicants. (Current total of 34 is 4 more than eventual goal of 30).

2)  Prior applicants who did not receive a scholarship must restate their continued interest in receiving a scholarship.

3)  Amendments to the Trustee By-Laws and Constitution were circulated. Trustees will notify Joe Power of their position on the proposed amendments.

Respectfully Submitted,