1. May 28, 2005 Welcome! Please dial 609-258-2610 to connect conference bridge at 9:00 am Meeting materials available online: http://www.princeton.edu/~fotb/explore/boardbiz.shtml Meeting will begin at 9:15 am Please enjoy some breakfast

2. May 28, 2005 FOTB Annual Meeting Jonathan D. Mendelson ’97 FOTB Board President

3. May 28, 2005 Agenda Call to order Year in Review –Recap of Activities –Financial outlook Other business Endowment Adjourn

4. May 28, 2005 Call to Order Select meeting secretary Establish quorum Elect president Review minutes from last year

5. May 28, 2005 Year in Review FY05 unique due to San Diego trip Inflow/Outflows ~$20K higher than normally occurs Armory space relocation effort begun Continued strong leadership from undergraduate officers

6. May 28, 2005 FOTB Meets Fundraising Goals San Diego trip a financial success –Early fall mailing for SD trip pays off –Anonymous donor makes trip possible –FOTB members rise to the challenge Moderate capital expenditures can still occur Most costs remain in line with expectations

7. May 28, 2005 Mailing Schedule Typical mailing schedule –September: Appeal 1 –December: Appeal 2 –May: Reunions Announcement FY2005 Adjustment –August: Appeal 1 –December: Appeal 2 –May: Reunions Announcement Two mailings before end of tax year

8. May 28, 2005 Operating Fund Results 2x the previous year Without one-time donors –Total ~$20,000  almost $5K increase –Does not include Endowment

9. May 28, 2005 FY2005 Financial Review Books do not close until 6/30/05 Additional review required –Auto expenses increase substantially –Office expenses exceeded expectations Distortions –Reunions and end-of-year expenses not yet recorded –VISA card makes expense tracking difficult

10. Endowment income over $5,200 $3500 in special funds from University for SD Trip Financial Analysis: Inflows

11. Reunions costs will post in late June Some capex probably deferred to FY06 Financial Analysis: Outflows

12. Financial Analysis: Summary FY2005 net flow depends upon end-of-year items FY05 appears to be a cash-flow positive year Will continue to pay down debt to Dean of Students

13. May 28, 2005 Financial Analysis: Balances 541-1890 (Band) ($11,361.83) Improvement over previous years (debt over $25K) Reunions 2005 income should offset end-of- year expenses 645-2036 (FOTB) $22,034.66 Improved fundraising allows for flexibility Strong cash position may enable FOTB to retire remaining PUB debt

14. May 28, 2005 End-of-year Expenses Reunions meals for undergraduates FOTB Board Meeting Reunion tent and refreshments May Princeton Upbeat mailing Unclaimed student expenses

15. May 28, 2005 FOTB Issues for FY2006 Monitor space reassignment issues Must update FOTB mailing list –No progress since last meeting –Len Ritz currently owns this item Feasibility of annual meetings Modification of Bylaws Succession planning –FOTB’s future role –Ensuring widespread participation –Closing on outstanding tasks

16. May 28, 2005 Undergraduate Update

17. May 28, 2005 PUB Endowment Update Exceptional Progress –Began with $15,000 transfer in 1999 –Met $50,000 requirement 2 years early FY05 Details –$6,797.01 in contributions –Earned over $5,200 towards budget Book Value on 5/25/05 $112,309.56 PUB greatly benefits from this resource!

18. May 28, 2005 Adjourn Final comments/questions Set meeting date/time for next year Today’s Band/FOTB Activities –11:00 a.m. Fred Fox ’39 Memorial Concert (Cannon Green) –Post P-Rade Band Reunion (South of Eno Hall)