CSF of BGM Investment Committee meets with Financial Advisors

The Investment Committee of CSF met with the financial advisors of the foundation, Norwest Investment Advisors on Tuesday, February 2 at noon.

The members of the Committee are Rollie Harder, Ruth Wagner, Orville Bloethe, and Lyle Oswood. JC Miller also attends the meetings. Scott Eltjes, Managing Director of Norwest Investment Advisors, Inc. attended the meeting and reported on the investments of the foundation.

The total assets that Norwest manages for the foundation has a cost value of $729,555.78 which includes accrued income. That amount includes $16,415.87 of income that will be used for scholarships in May of 1999. The Market value as of December 31, 1998 was $788,907.24. Most of the cost value was invested by the foundation in February of 1998. Other investments of the foundation include CD’s with the Poweshiek County Savings Bank and First Federal Savings Bank of Grinnell. A small savings account is also maintained at Poweshiek County Savings Bank.

The committee reviewed the Investment Policy of the foundation and compared the policy to the actual investments of the foundation. Any needed adjustments between bonds and equities were noted and it was moved to make such adjustments.

If anyone would like to review the Investment Policy or look at the investments that the Advisors has in our account, please contact J.C. Miller at Manatts and the records will be made available to you. It is the policy of the Foundation that any member of the community can see the records of the foundation except for the donations that each person makes. Those records are considered confidential and will not be released.

Anyone wishing to make a contribution to the Foundation please contact, Mrs. Lori (Marvin) Tanke, CSF of BGM Board of Trustee representative for the BGM School Board, or any other Board member. You can also write to Box 469, Brooklyn, Iowa 52211.

Saying for the week: Teamwork divides the task and doubles the success.