<html><head></head><body><div style="color:#000; background-color:#fff; font-family:HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif;font-size:16px"><div id="yiv0366058040"><div id="yui_3_16_0_1_1455404152905_552066"><div id="yui_3_16_0_1_1455404152905_552065" style="color:#000;background-color:#fff;font-family:HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif;font-size:16px;"><div dir="ltr" id="yiv0366058040yui_3_16_0_1_1455404152905_548768"><div dir="ltr">The January End-of-Month financial reports are attached. The maximum annual allowable amount, $33,400, was transferred out of the trust for the bequest. Unrestricted cash improved to $32,621, mostly due to the disbursement from the bequest, but is still below the reserve target. We added a list of the transactions from the Chair's discretionary funds at the end of the last page (none last month).</div></div><br clear="none"><div dir="ltr" id="yiv0366058040yui_3_16_0_1_1455404152905_548727">Tim Hagan</div></div></div></div></div></body></html>