UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
FORM N-PX
ANNUAL
REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
INVESTMENT COMPANY ACT FILE NUMBER: 811-01048
NAME OF REGISTRANT: Mairs and Power Balanced
Fund, Inc.
ADDRESS OF
PRINCIPAL EXECUTIVE OFFICES:
Suite W-1520
Saint Paul, MN 55101-1363
NAME AND ADDRESS OF AGENT FOR SERVICE: William B. Frels, President
Suite W-1520
REGISTRANT'S TELEPHONE NUMBER: 651-222-8478
DATE OF FISCAL YEAR END: 12/31
DATE OF REPORTING PERIOD: 07/01/2006 - 06/30/2007
Balanced Fund
__________________________________________________________________________________________________________________________
3M COMPANY Agenda Number: 932657832
__________________________________________________________________________________________________________________________
Security: 88579Y101
Meeting Type: Annual
Meeting Date: 08-May-2007
Ticker: MMM
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
LINDA G. ALVARADO Mgmt For For
GEORGE W. BUCKLEY Mgmt For For
VANCE D. COFFMAN Mgmt For For
MICHAEL L. ESKEW Mgmt For For
W. JAMES FARRELL Mgmt For For
HERBERT L. HENKEL Mgmt For For
EDWARD M. LIDDY Mgmt For For
ROBERT S. MORRISON Mgmt For For
AULANA L. PETERS Mgmt For For
ROZANNE L. RIDGWAY Mgmt For For
02 RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Mgmt For For
LLP AS 3M S INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM
03 AMENDMENT OF THE COMPANY S RESTATED CERTIFICATE Mgmt For For
OF INCORPORATION TO ELIMINATE THE SUPERMAJORITY
VOTE REQUIREMENTS
04 AMENDMENT OF THE COMPANY S RESTATED CERTIFICATE Mgmt For For
OF INCORPORATION TO ELIMINATE THE FAIR PRICE
PROVISION
05 APPROVAL OF THE EXECUTIVE ANNUAL INCENTIVE PLAN Mgmt For For
06 APPROVAL OF THE MATERIAL TERMS OF THE PERFORMANCE Mgmt For For
CRITERIA UNDER THE PERFORMANCE UNIT PLAN
07 EXECUTIVE COMPENSATION BASED ON THE PERFORMANCE Shr Against For
OF PEER COMPANIES.
__________________________________________________________________________________________________________________________
AMERICAN EXPRESS COMPANY Agenda Number: 932643629
__________________________________________________________________________________________________________________________
Security: 025816109
Meeting Type: Annual
Meeting Date: 23-Apr-2007
Ticker: AXP
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
D.F. AKERSON Mgmt For For
C. BARSHEFSKY Mgmt For For
U.M. BURNS Mgmt For For
K.I. CHENAULT Mgmt For For
P. CHERNIN Mgmt For For
V.E. JORDAN, JR. Mgmt For For
J. LESCHLY Mgmt For For
R.C. LEVIN Mgmt For For
R.A. MCGINN Mgmt For For
E.D. MILLER Mgmt For For
F.P. POPOFF Mgmt For For
S.S. REINEMUND Mgmt For For
R.D. WALTER Mgmt For For
R.A. WILLIAMS Mgmt For For
02 THE SELECTION OF PRICEWATERHOUSECOOPERS LLP Mgmt For For
AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS
FOR 2007.
03 A PROPOSAL TO APPROVE THE AMERICAN EXPRESS COMPANY Mgmt For For
2007 INCENTIVE COMPENSATION PLAN.
04 A SHAREHOLDER PROPOSAL RELATING TO CUMULATIVE Shr Against For
VOTING FOR DIRECTORS.
__________________________________________________________________________________________________________________________
ASSOCIATED BANC-CORP Agenda Number: 932641500
__________________________________________________________________________________________________________________________
Security: 045487105
Meeting Type: Annual
Meeting Date: 25-Apr-2007
Ticker: ASBC
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
PAUL S. BEIDEMAN Mgmt For For
ROBERT C. GALLAGHER Mgmt For For
EILEEN A. KAMERICK Mgmt For For
JOHN C. MENG Mgmt For For
CARLOS E. SANTIAGO Mgmt For For
02 TO RATIFY THE SELECTION OF KPMG LLP AS THE INDEPENDENT Mgmt For For
REGISTERED PUBLIC ACCOUNTING FIRM FOR ASSOCIATED
FOR THE YEAR ENDING DECEMBER 31, 2007.
__________________________________________________________________________________________________________________________
BANK OF AMERICA CORPORATION Agenda Number: 932644481
__________________________________________________________________________________________________________________________
Security: 060505104
Meeting Type: Annual
Meeting Date: 25-Apr-2007
Ticker: BAC
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
1A ELECTION OF DIRECTOR: WILLIAM BARNET, III Mgmt For For
1B ELECTION OF DIRECTOR: FRANK P. BRAMBLE, SR. Mgmt For For
1C ELECTION OF DIRECTOR: JOHN T. COLLINS Mgmt For For
1D ELECTION OF DIRECTOR: GARY L. COUNTRYMAN Mgmt For For
1E ELECTION OF DIRECTOR: TOMMY R. FRANKS Mgmt For For
1F ELECTION OF DIRECTOR: CHARLES K. GIFFORD Mgmt For For
1G ELECTION OF DIRECTOR: W. STEVEN JONES Mgmt For For
1H ELECTION OF DIRECTOR: KENNETH D. LEWIS Mgmt For For
1I ELECTION OF DIRECTOR: MONICA C. LOZANO Mgmt For For
1J ELECTION OF DIRECTOR: WALTER E. MASSEY Mgmt For For
1K ELECTION OF DIRECTOR: THOMAS J. MAY Mgmt For For
1L ELECTION OF DIRECTOR: PATRICIA E. MITCHELL Mgmt For For
1M ELECTION OF DIRECTOR: THOMAS M. RYAN Mgmt For For
1N
ELECTION OF DIRECTOR: O.
1O ELECTION OF DIRECTOR: MEREDITH R. SPANGLER Mgmt For For
1P ELECTION OF DIRECTOR: ROBERT L. TILLMAN Mgmt For For
1Q ELECTION OF DIRECTOR: JACKIE M. WARD Mgmt For For
02 RATIFICATION OF THE INDEPENDENT REGISTERED PUBLIC Mgmt For For
ACCOUNTING FIRM FOR 2007
03 STOCKHOLDER PROPOSAL - STOCK OPTIONS Shr Against For
04 STOCKHOLDER PROPOSAL - NUMBER OF DIRECTORS Shr Against For
05 STOCKHOLDER PROPOSAL - INDEPENDENT BOARD CHAIRMAN Shr Against For
__________________________________________________________________________________________________________________________
BAXTER INTERNATIONAL INC. Agenda Number: 932647019
__________________________________________________________________________________________________________________________
Security: 071813109
Meeting Type: Annual
Meeting Date: 01-May-2007
Ticker: BAX
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
1A ELECTION OF DIRECTOR: BLAKE E. DEVITT Mgmt For For
1B ELECTION OF DIRECTOR: JOHN D. FORSYTH Mgmt For For
1C ELECTION OF DIRECTOR: GAIL D. FOSLER Mgmt For For
1D ELECTION OF DIRECTOR: CAROLE J. SHAPAZIAN Mgmt For For
02 RATIFICATION OF INDEPENDENT REGISTERED PUBLIC Mgmt For For
ACCOUNTING FIRM
03 APPROVAL OF 2007 INCENTIVE PLAN Mgmt For For
__________________________________________________________________________________________________________________________
BEMIS COMPANY, INC. Agenda Number: 932648415
__________________________________________________________________________________________________________________________
Security: 081437105
Meeting Type: Annual
Meeting Date: 03-May-2007
Ticker: BMS
ISIN:
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
NANCY P. MCDONALD Mgmt For For
JEFFREY H. CURLER Mgmt For For
ROGER D. O'SHAUGHNESSY Mgmt For For
DAVID S. HAFFNER Mgmt For For
02 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Mgmt For For
LLP, AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM OF THE COMPANY.
03 TO VOTE UPON THE STOCKHOLDER PROPOSAL ON COMPENSATION Shr Against For
REPORT, IF PROPERLY PRESENTED AT THE MEETING.
__________________________________________________________________________________________________________________________
BP P.L.C. Agenda Number: 932640837
__________________________________________________________________________________________________________________________
Security: 055622104
Meeting Type: Annual
Meeting Date: 12-Apr-2007
Ticker: BP
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 TO RECEIVE THE DIRECTORS ANNUAL REPORT AND Mgmt For For
ACCOUNTS
02 TO APPROVE THE DIRECTORS REMUNERATION REPORT Mgmt For For
03 DIRECTOR
DR D C ALLEN Mgmt For For
LORD BROWNE Mgmt For For
MR A BURGMANS Mgmt For For
SIR WILLIAM CASTELL Mgmt For For
MR I C
MR E B DAVIS, JR Mgmt For For
MR D J FLINT Mgmt For For
DR B E GROTE Mgmt For For
DR A B HAYWARD Mgmt For For
MR A G INGLIS Mgmt For For
DR D S JULIUS Mgmt For For
SIR TOM MCKILLOP Mgmt For For
MR J A MANZONI Mgmt For For
DR W E MASSEY Mgmt For For
SIR IAN PROSSER Mgmt For For
MR P D SUTHERLAND Mgmt For For
19 TO RE-APPOINT ERNST & YOUNG LLP AS AUDITORS Mgmt For For
AND AUTHORIZE THE BOARD TO SET THEIR REMUNERATION
20 TO GIVE LIMITED AUTHORITY TO MAKE POLITICAL Mgmt For For
DONATIONS AND INCUR POLITICAL EXPENDITURE
21 TO AUTHORIZE THE USE OF ELECTRONIC COMMUNICATIONS Mgmt For For
S22 SPECIAL RESOLUTION: TO GIVE LIMITED AUTHORITY Mgmt For For
FOR THE PURCHASE OF ITS OWN SHARES BY THE COMPANY
23 TO GIVE AUTHORITY TO ALLOT SHARES UP TO A SPECIFIED Mgmt For For
AMOUNT
S24 SPECIAL RESOLUTION: TO GIVE AUTHORITY TO ALLOT Mgmt For For
A LIMITED NUMBER OF SHARES FOR CASH FREE OF
PRE-EMPTION RIGHTS
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BRIGGS & STRATTON CORPORATION Agenda Number: 932588392
__________________________________________________________________________________________________________________________
Security: 109043109
Meeting Type: Annual
Meeting Date: 18-Oct-2006
Ticker: BGG
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
ROBERT J. O'TOOLE Mgmt For For
JOHN S. SHIELY Mgmt For For
CHARLES I. STORY Mgmt For For
02 RATIFICATION OF PRICEWATERHOUSECOOPERS LLP AS Mgmt For For
THE COMPANY S INDEPENDENT AUDITOR.
03 RATIFICATION OF THE RIGHTS AGREEMENT AS AMENDED Mgmt Against Against
BY THE BOARD OF DIRECTORS ON AUGUST 9, 2006.
__________________________________________________________________________________________________________________________
BRISTOL-MYERS SQUIBB COMPANY Agenda Number: 932648439
__________________________________________________________________________________________________________________________
Security: 110122108
Meeting Type: Annual
Meeting Date: 01-May-2007
Ticker: BMY
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
1A
ELECTION OF DIRECTOR: L.B.
1B ELECTION OF DIRECTOR: J.M. CORNELIUS Mgmt For For
1C ELECTION OF DIRECTOR: L.J. FREEH Mgmt For For
1D ELECTION OF DIRECTOR: L.H. GLIMCHER, M.D. Mgmt For For
1E ELECTION OF DIRECTOR: M. GROBSTEIN Mgmt For For
1F ELECTION OF DIRECTOR: L. JOHANSSON Mgmt For For
1G ELECTION OF DIRECTOR: J.D. ROBINSON III Mgmt For For
1H ELECTION OF DIRECTOR: V.L. SATO, PH.D. Mgmt For For
1I ELECTION OF DIRECTOR: R.S. WILLIAMS, M.D. Mgmt For For
02 RATIFICATION OF INDEPENDENT REGISTERED PUBLIC Mgmt For For
ACCOUNTING FIRM
03 2007 STOCK AWARD AND INCENTIVE PLAN Mgmt For For
04 SENIOR EXECUTIVE PERFORMANCE INCENTIVE PLAN Mgmt For For
05 EXECUTIVE COMPENSATION DISCLOSURE Shr Against For
06 RECOUPMENT Shr Against For
07 CUMULATIVE VOTING Shr Against For
__________________________________________________________________________________________________________________________
CONOCOPHILLIPS Agenda Number: 932664988
__________________________________________________________________________________________________________________________
Security: 20825C104
Meeting Type: Annual
Meeting Date: 09-May-2007
Ticker: COP
ISIN:
__________________________________________________________________________________________________________________________
Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
1A ELECTION OF CLASS II DIRECTOR: JAMES E. COPELAND, Mgmt For For
JR.
1B ELECTION OF CLASS II DIRECTOR: KENNETH M. DUBERSTEIN Mgmt For &nb