The Board of Directors of the European American Chamber of Commerce of Greater Cincinnati held is regularly scheduled quarterly board meeting on Thursday, April 23 at 4:30 p.m. Due to “social distancing’ requirements the meeting was held using the Zoom™ platform.
Board President Yannick Schilly called the meeting to order noting the economic and social disruption of the COVID-19 pandemic across our region and around the world. And he pointed out that given the Board’s concern over falling cash reserves cited at its January meeting, it was all the more important for board members to closely monitor the EACC’s economic health and consider all options to maintain and support it for the foreseeable future.
Before proceeding to a discussion of first quarter financial results and a detailed discussion of pandemic-driven revisions to the 2020 EACC budget, the board reviewed and approve the minutes from its January meeting. The board also appointed two new members – Katie Eagan (Vice President for Government Affairs) is taking Jenni Larkins’ seat representing the Cincinnati USA Regional Chamber; and Kimberly Rosetti (Vice President for Economic Development) is taking the vacant seat for Northern Kentucky Tri-ED.
There followed a healthy discussion about the current state of EACC finances and an examination of proposed cuts to the 2020 EACC budget as well as steps that could be taken to enhance our revenue streams to ensure maintenance of a healthy cash reserves balance. It was agreed that the Board officers and the Executive Committee would meet regularly with EACC staff to monitor the situation closely and to take corrective actions as necessary to ensure the fiduciary responsibilities of the board were met.
A complete copy of the minutes of this meeting will be available to any member in good standing upon request once the minutes have been approved at the July Board meeting.