Finance Committee

2019-20 Annual Report

It is my pleasure to report on behalf of the Finance Committee for the previous year.

The committee reviews the statements from our investment consultants, DiMeo Schneider, monthly and then meets with them quarterly in person.  During these meetings, we look at the performance of our investments, analyze how our investment performance is impacting the budgetary needs of the Valley, and listen to recommendations from DiMeo Schneider on asset allocation and underlying portfolio managers.  The committee then takes our suggestions to the Board of Directors.

The Valley has an external audit done every year, and our audit is available for members to view at any time in the office during normal business hours.  The Board also appoints an internal auditor to review the monthly financial transactions, and I have performed that duty for the previous year.

The Valley also had an external auditor complete a forensic audit and work with our office to recommend processes and controls.

As we are all aware, this has been a very challenging year, especially with our market investments.
I would like to thank committee members Andy Hassan, William Tienken, Bruce Zimmerman, and Daryl Selock, as well as our Treasurer, Wallace Dunn,  and Deputy’s Representative Michael Ehle, for their advice, counsel, and commitment of time during this past year.  With their steady guidance and judgment, we were able to make slight adjustments to capitalize on the extreme volatility the markets related to the economic shutdown, avoid panic and drastic losses, and maintain our balances to the benefit of the fraternity.

 Respectfully Submitted,

 Andrew A. Keppy

Finance Committee Chairman