Treasurer Kevin D. Stocks (Brigham Young Univ) distributed and discussed the T&C Section Statement of Cash Receipts and Disbursements for the 1995-96 period (through June, 1996). Kevin reported that the ending balance of $36,621.49 reflected the Section leadership's decision to let the cash balance grow while various expenditure options such as supporting a midyear meeting or publication and distribution of committee reports were evaluated. Kevin stated that he expected no more than an additional $600+ in bills to come in, and he noted that the major expenditure items in 95-96 were the Section's newsletter, the Graduate Accounting program guide and the CPE workshop expenses.

Kent announced that if any T&C member was not receiving the Newsletter, they should contact the Newsletter Editor, Sandra D. Byrd (Southwest Missouri State University) to verify mailing address information. He noted the Section's publicizing two of its reports through summaries in the Newsletter (The Best and the Brightest and PETE committees). He announced the Executive Committee's decision to pursue publishing the PETE committee report (Framework for Encouraging Effective Teaching)in paperback form as a joint project with the Center for Research in Accounting Education (James Madison University).

Sue P. Ravenscroft (Eastern Michigan Univ), chair of the 150-Hour Programs Issues committee reported that 6 states (Alabama, Florida, Hawaii, Mississippi, Tennessee, and Utah) have the rule in place, and 11 states (Alaska, Arkansas, Georgia, Kansas, Louisiana, Montana, Nebraska, Rhode Island, South Carolina, South Dakota, and Texas) very recently had the rule go into effect. Surveys (300) were mailed to schools in these states, plus Illinois and Pennsylvania. Thus far, 115 responses have been received. A second mailing went out on August 8th.

Bill N. Schwartz (Virginia Commonwealth Univ), chair of the Mid-Year Meeting committee, reported that a one-page questionnaire would be mailed by September 15th. Responses are expected by mid October.

Donald E. Wygal (Rider Univ) was recognized for his work with the papers submitted for the annual meeting T&C concurrent sessions. Don reported that 89 papers were submitted- the second largest of the sections- resulting in seven slots for T&C at the annual meeting. This year's procedures included an ad hoc editorial review board, two reviewers for each paper, and papers organized into themes for concurrent session presentation. Don recommends that the Newsletter recognize those faculty who did the reviews.

Kent recognized Richard Baker (Northern Illinois Univ) as the new Director of Education for the AAA.

Kent indicated that his comment in the Spring, 1996 issue of the Accounting Educator about his lack of optimism concerning the effect of the 150-hour rule on non-flagship universities drew reactions from readers. He wants the dialogue on this issue to continue.

Paul E. Solomon (San Jose State Univ) announced the availability of a video ($10 cost) that is persuasive in supporting the revision of the first course in accounting. This video resulted from a competency-based curriculum model satellite conference.

Dick Baker noted that he has watched the T&C Section membership grow rapidly from 350 to its present 1700 members. He noted the Section's popularity at the regionals, where T&C often dominates the attendance, and the growing involvement at the annual meeting, where the number of sessions allocated to us keeps getting better. He feels T&C's emphasis on getting our members involved is an initiative that needs to be continued. Lots of good ideas are out there. T&C needs to publicize what our members are doing.

The 1996-97 slate of section officers (Vice President-Academic: Billie Cunningham, Univ of Missouri-Columbia; vice president-practice: Doug Dickel, Arthur Andersen & Co.; Treasurer: Kevin D. Stocks, Brigham Young Univ; Secretary: Alexander L. Gabbin, James Madison Univ) were voted in by acclamation.

Dick opened the floor for names for the 96-96 Nominations committee (97-98 officers). The names offered were: David K. Dennis (Otterbein), Michael F. Foran (Wichita State), Julia N. Karcher (Louisville), and Michael C. Nibbelin (Eastern Illinois). Julia Karcher and Mike Nibbelin were elected.

Mary S. Nisbett (Bowling Green) announced a call for papers for the Ethics conference and a need for faculty willing to review papers.

Bob Michaelsen (Uni of North Texas) announced that the recipient of the Second Annual Center for the Educational Technology in Accounting (CETA) award was Bob Jensen, who received a plaque and a check for $1,000. In his acceptance speech, Bob recommended that the Section consider forming a liaison with the AAA Internet committee.

President-elect David E. Stout (Villanova) recognized Kent's efforts on behalf of the T&C Section during 95-96 with a plaque.

David distributed the August 11, 1996 MEMO on the 1996-97 officers, committee assignments and committee chairs. He discussed the contents of the MEMO, announced his intention to form a strategic planning committee, and asked for additional volunteers for committees.