INVESTMENT COMMITTEE

Chairman

Bob Atkinson,
W & A Manufacturing

Members

John Malinowski,
Leon's Mfg. Co., Inc.

Steve Norris,
Diversified Financial Services

Investment Committee Goals & Objectives

The Investment Committee shall be appointed by the President for a three-year term or reappointed for a one-year term. Terms shall be alternated so that approximately one-third of the committee shall be newly appointed each year. The committee shall consist of three members, the Chairman of which shall be the Treasurer. In addition, the President shall serve ex officio as a non-voting member.

A.    Objectives

     1.    Preserve the principal of the Association's funds

     2.    The funds of the Association shall be invested in cash, fixed income investments, and equity mutual funds:

            a.    Cash – The amount of funds invested in cash shall at all times be sufficient to provide for timely payment of the Association's obligations.

            b.    Fixed Income – Board of Directors-approved investments of U.S. Treasury obligations and Federal Agency obligations shall be “laddered” for a period of at least ten years.

            c.    Equity Mutual Funds - Investment up to ten percent of the total funds will be divided into a maximum of three separate equity mutual funds. The income received from these equity mutual funds will be reinvested by the Executive Vice President and Treasurer jointly.

B.    Goals and Actions

   1.    Annually review the investment returns

   2.    Recommend to the Board of Directors any changes in investment strategy