March 8, 2005

NEXT MEETING, MARCH 14…we’ll hear from Jim Shamblin with Rotary International.

LAST MEETING, MARCH 7… State Treasurer Tate Reeves gave us an overview of two important factors of his office – the college savings plan administered by his office and the general financial condition of the state. Using their program to pre-pay college tuition makes a lot of sense, he said, since tuition has been going up an average of 7% a year. The program locks in tuition at present levels, so equates to a return of that 7% - or higher. His second topic was the financial condition of the state, which, as anybody who reads the paper knows, is fraught with challenge. He referred to the Medicaid challenge, and to the large amount of the state budget that must go to service debt issues (up from $90 million in 1996 to $360 million in 2004). Tate has recommended five budget reforms that could help: (1) make sure the Revenue Estimating Committee has a majority of members from the private sector (it does not now); (2) make the 98% rule, whereby the Legislature can only appropriate 98% of anticipated revenues, a part of the state constitution, so it cannot continue to be overridden by a vote of the Legislature; (3) make recurring revenues equal to recurring expenses, so that reservoirs like the Health Care Trust Fund cannot continue to be raided; (4) stop the practice of deficit appropriations; and (5) reduce the total number of appropriations bills, so that the overall budget can be considered in context. Not everything is negative, Tate told us - revenues are up 6.1% in the first 8 months of the current fiscal year. Thanks to Bill Allison for arranging and introducing this program.

WELCOME TO NEW MEMBERS… number 23 and 24 of this Rotary year. Introduced to the club on March 7 were…
¦ Liz Carroll, President of Carroll Communications. Liz was introduced by her proposer, Janet Scott.
¦ Arnold Landry, Scout Executive, Andrew Jackson Council. Arnold was introduced by his proposer, Robert Leard.

YOUR BOARD OF DIRECTORS… has approved the following membership proposal. If no objections are received within seven days, he will be introduced as a new member:
¦ Paul Gonwa, President, Mayrant & Associates. Paul was proposed by Louis H. Watson, Sr.

PRESIDENT’S CORNER… We are fortunate to start off the week with our Rotary meeting each Monday. It really sets a positive tone for me and hopefully for each of you. Even on a rainy day like today, the enthusiasm and fellowship generated by our group is truly uplifting. I mentioned that one of our board members, Gib Ford, has accepted a challenging task of making recommendations to our board on how to get the Mentor Scholarship participation up to 100%. His committee is made up of interested individuals and they are encouraging suggestions from our members. Thanks to Janet Scott and Robert Leard for inviting our two newest members into our club. Please join me in extending a warm Rotary welcome to Liz Carroll and Arnold Landry. Finally, welcome back to Brad MacNealy! Yours In Rotary, Danny