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2) The minority stock holders evaluation for year end 1996 is $199. <br />3) Rick presented the appraisal for Company stock. Marge moved to <br />approve it and Jeff Croll seconded it. All were in favor to accept the <br />auditor's report. <br />F) Discussion was had about the new accountants, Martin and Vejvoda. "They're <br />great". Steve is really sharp. This should be a good relationship. <br />G) Workload and Profitability: Rick mentioned that it looks like a lot of jobs aren't <br />on track and our over billings seem to be going way down. This is a concern. We <br />still have managers that aren't understanding over billings - we need to remedy <br />this. <br />H) Bank Line: Rick commented that we only have a quarter million left on the bank <br />line which includes the note for CCL. As we pay down CCL this will increase but <br />we still need to raise the bank line by a quarter million dollars with Vectra Bank. <br />Jody motions to continue to let Randy and Rick borrow as necessary. Marge <br />seconded this and everyone was in favor of the motion. <br />I) Rick commented that training and TQM has gone by the wayside and we need to <br />address this and the labor shortage. <br />J) Jody briefed us on the Mark Quatman ADA claim. She will keep us posted on the <br />status of this suit as she works with the attorney. <br />K) CCL's vacation: To avoid paying them double the vacation time or making them <br />go a year without vacation, we will let them take half of their vacation time in the <br />current year and the rest in the following year. <br />VII) Old Business <br />A) CCL's 401K plan is very close to being fully merged with RBI's because they <br />finally took care of that outstanding asset. Actually, RBI is going to purchase that <br />asset for $1,200 and put the cash into the 401 K. <br />B) Access to the audited financial statement should be limited. An audited financial <br />statement should only go out with the approval of Randy or Rick. <br />C) There was discussion of using an investment banker for our banking. <br />IIX) The meeting was.adjourned at 2:30 p.m. <br />- July Board Meeting Page 5 -