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Update - November 2016
November 29, 2016

President's Perspective

Members who participate in the leadership of SER or regularly attend our annual meetings already know that we take the finances of our organization very seriously. Since the financial health and stewardship of SER is a topic of interest to each and every member, I offer the following as an overview for all of our members.

At each of our annual meetings, the Treasurer provides attendees with our Year End Financials. This report provides a snapshot of SER’s financial status. In reviewing them, I believe you will agree that SER is a substantial and well managed organization. Our financial strength did not happen overnight, nor did it happen without considerable care and commitment from a stream of dedicated SER Board members. The key to our stewardship is our processes. Our system is multi-faceted, each critical in its own way:  

  • Ongoing management oversight is provided by the Finance Committee (“FinComm”), which meets quarterly. The FinComm reports and provides recommendations to our Board of Directors. It established and updated a set of Financial Controls that provide procedures and oversight for all facets of our finances. The FinComm is currently chaired by Jack Herrmann.
  • Executive management of SER’s financials is provided by our Treasurer, who attends FinComm and Board meetings. Gerry Guild is SER’s current Treasurer.
  • Daily management of SER’s financials is managed by our Controller. This position is relatively new, and was previously performed by the Treasurer. Patti Koetting is SER’s first Controller, following years of serving as SER’s Treasurer.
  • Checks and balances are provided by the Chairman of our Audit Committee. This is a review of the financials and source documents by a Board member who is not on the FinComm, and is performed once a year. While not technically an “audit”, it adds an additional layer of review to the process. Hugh Cohen is the Chairman of SER’s Audit Committee. 

I offer my sincerest gratitude to Jack, Gerry, Patti, Hugh and all those who have committed such time and dedication to the management of SER’s finances through the years.

If you are not familiar with our Year End Financials report, then I encourage you to pull them off of our website and review them. Start by logging into our website (www.securitiesexpert.org); the Log In button is located at the top-right corner of our homepage. Once you have logged in, the Log In button will turn into a Member Tools button. If you hover your cursor over the Member Tools button, it will become a menu. Click on Library, and then scroll down to the Past Conferences link. By clicking Materials, you can locate the Year End Financials presented at that conference.  While you are in the Library, take a moment to also review its other offerings. It is a resource for our members, and we are continually looking for ways to help it better benefit our membership.

Respectfully, Jeffery Schaff, President

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