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Betty Grimm submitted the following treasurer’s report: Working balance March 31, 2003
$166.31
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Opened 05/15/01 Savings balance April 30, 2003 $620.65 |
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Newman Fund CD balance April 30, 2003 $4,870.90 |
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| Betty
reported that our Newman Fund CD with the Alpine Credit Union is coming
up for renewal this month. The credit union would pay only 2.35%
interest on a new CD, while the Consumer Price Index inflation rate on
May 1 was 3.03%. Thus, if we deposited our fund with the credit union,
it would lose value through inflation.
Dale Evans suggested that we consider investing in an I-Bond (I for Inflation), a federal security which pays a rate of interest 1/2% greater than the current inflation rate. Betty Grimm later found that the interest on I-Bonds is fixed twice yearly, on May 1 and December 1, at the then current Consumer Price Index inflation rate plus 1/2%. The current interest rate, as of May 1, is 4.66%. Compare that with 2.35% available at the credit union, and even less at the bank! Thus, we have invested our Newman Memorial Fund in a $5,000 I-Bond. Many thanks to Dale Evans for bringing I-Bonds to our attention. Barbara and I noted that attendance at star parties has been very spotty. Last month, only two neighbors came, and neither was a BBAS member. Occasionally no one has come to a star party. Attendance at our regular meetings improved after we began meeting every other month. We suggested that we might have star parties every other month, in those months when we do not have a regular meeting. Bernie Zelazny moved that we adopt that schedule, Dale Evans seconded, and the motion carried unanimously. Therefore, beginning our new schedule immediately, we will have NO STAR PARTY IN MAY. We WILL have a star party in June, but no regular meeting (see Coming Events). We will send a Newsletter in those months in which we have general meetings; otherwise there will be no Newsletter unless special conditions warrant. We’ll see how all this works out, and we’ll evaluate as we go along. |
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Reported by Jim Walker John Bell
presented a video on several strange aspects of our universe. The
video began with scenes of the 23-foot mirror en route to the Mt. Hopkins
Observatory in Arizona, working its way up the narrow mountain road.
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for each Voting Member! Still only $20.00!
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