Fall 2018 Newsletter Print

Chapter President's Report

Dear Member,

 

I hope this message finds you in good health and hope you had a wonderful summer. Back in late 2016, we had discussed the Chapter Financial Management and Administration Policy (CFMAP).  At that time, our national leaders tried to roll this program out with no input from the chapters.  As you will recall, it was not well received.  They put the program on hold in early 2017 and have since rolled it out on a voluntary basis.  This time around, the program is receiving much better reception from the chapters.  Over 20 chapters have now entered the program. We presented the program to the Board at our July meeting and it was voted to move the chapter into the program. Russ, Steve, and I sat through a presentation by Beata Swacha, CFO, at the joint regional meeting in July. After hearing the success stories and discussing further with Beata, we are totally comfortable making this move for the chapter.  We discussed with other chapters that have made the move and all the feedback was very positive.  The cost is going to be $750 annually + 1.5% of revenue. In total, this will cost around $1,500 +/- annually to the chapter. The short list of some of the services they will provide will include:

 

  • Manage our checking account
  • Manage our reserve investments
  • Pay our invoices
  • Process and issue our annual 1099’s
  • Process and issue our tax returns

 

The annual savings offsets the cost and will allow us to focus Julia’s time more to developing our education offerings as well as the home grown education sessions where I think is a real opportunity to provide valuable CE to our membership as well as make some profit to help offset our operating costs and offer other needed education to our membership.

 

Thanks to everyone who continues to support our chapter by attending our events and educational offerings as well as those who serve us on the board or a committee. I look forward to seeing you at the Holiday Party in December.

 

Thanks,

 

John Rimar, MAI

Chapter President 2017-2018

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Education Update

The Education Committee is busily preparing the 2019 and 2020 education schedules.  The preliminary schedule under consideration is as follows.  Please be aware that this schedule is tentative and is being published to make the membership aware of what we are considering offering.  The only class confirmed so far is Doug Potts Review Theory course offered in January 2019.  We encourage you to contact a chapter officer or board member with any requests for education:

Jan. 14-18, 2019 – Review Theory: General (Potts) – Commercial Class, Advanced Education

February 2019 – 7 hour CE seminar for commercial and residential appraisers – Scott Colbert economic outlook (1.5 hours)/Rimar dark space overview (1.5 hours)/Mark Linne 4 hour seminar on artificial intelligence and how it relates to appraisal.

March 22 & 23, 2019 - Whitmer 2 day review course – review for comp and state exams, counts for CE, Commercial

May 2019 - General Appraiser Income Approach Part 1, Commercial, QE

August 2019 – Ignorance isn’t Bliss (Potts), Residential and Commercial, CE

September 2019 - General Appraiser Income Approach Part 2 (Potts wants to teach), Commercial, QE

October 2019 – Review Case Studies (need instructor), Commercial, Advanced Education

Fall 2019 - Homegrown seminar–Don Gossman has 3 hour seminar about working with the FBI/breaking up fraud ring to bring changes to appraisal profession.  Fill in the rest of the time with a local appraisers/broker, etc.

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Treasurer's Report

Not much has changed with the chapter finances this year with total assets remaining around $90,000.  Net income for the year is down slightly (-$1,600), but overall, the finances remain solid for the chapter.  The Westover Memorial fund was used to finance the spring education the last two years, however, the remaining dollars will be used for scholarships as determined by our scholarship committee.  Finally, the chapter decided to utilize the Appraisal Institute’s CFMAP (Chapter Financial Management and Administration Program)  that takes most of the of the day-to-day financial accounting out of the hands of the chapter. This will remove the responsibility of the chapter treasurer and executive director.  CFMAP will also provide the necessary oversight to ensure accuracy with the numerous expense accounts.  The chapter expects to launch this program on Monday, October 8, 2018.

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Westover Scholarship

The chapter is currently offering a scholarship between $500 and $2,750 for qualified applicants to use toward appraisal courses or college courses.  Applications are open and available to current students in undergraduate or masters programs as well as recent graduates who have entered the appraisal profession.  Please contact Robert Voyles at robert@greaterstlouisappraisal.com for a copy of the application form.

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