CIT Treasurer Report 2011-2014

Richard Laurionby Richard Laurion
CIT Treasurer
Happy New Year and Welcome to 2015!
This is my final report to you (CIT Members) in my position as Treasurer.
Thank you for giving me the opportunity to serve you over the last two terms or four years.  It has been my great pleasure to fill this important position on the Board of Directors.
Coming into this office, you gave me the message that you wanted greater transparency.  I have kept that goal in mind as I accomplished the following improvements in access and transparency:

  • Shifting our accounts to Wells Fargo financial institution which has a physical access point in almost every U.S. state;
  • Combining and moving our accounting software to Quickbooks online providing us automated backup security, access from any computer and up to five User accounts;
  • Providing quarterly summaries of our accounts through the CIT News (current summaries attached to this report);
  • Comprehensive reports during biennial conferences (report delivered in Portland archived on –;
  • Addition of the 2-year membership option, providing greater association financial stability;
  • Renegotiating our board insurance saving us money;
  • Using a rewards credit card system for allowable board and association expenses that earned points toward future travel costs.  This saved CIT approximately $6,300 this past term and likely will provide the same savings in this next term;
  • I started on the Board with $110,141 in cash assets in our accounts and I turn over to the Board $179,975 cash assets and $6,500 in promissory assets as of today.
  • Most importantly, I tried to function as a fiscal conscience for the board and would regularly challenge our spending decisions to make sure we were spending your member dollars in effective ways.

I hope these changes and efforts on my part were what you were seeking in a treasurer.  I gratefully transfer the books to our new treasurer, Patricia Lessard.  I have promised to make myself available as much or as little as she may need me in the New Year.
Again, thank you for this opportunity and I wish the best for Patty as she takes over these duties.
Best wishes to all of you in 2015!