WILSON CENTRE SENIORS ADVISORY ASSOCIATION NOTES FOR THE AGM OCTOBER 12, 2016
- Revenues were down this year compared to last due to the decision in July 2015 to transfer the CVSS programs to SHARE, and the resulting level of grant applications and grant repayments associated with the decision to transfer the programs.
- Expenses were also significantly lower, as CVSS only ran for two months (July & August) in the fiscal year covered.
- Cash balances were down.from the prior year-end as we liquidated short-term investments to repay or transfer DVSS grant monies received last year.
- In line with the approval at last year’s AGM, the independent accountant F.K. Chan & Company has performed a Notice to Reader engagement with respect to the financial statements for the fiscal year ending June 30, 2016
Resolution #1
RESOLVED THAT THE DRAFT ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDING JUNE 30, 2016, AS PRESENTED AT THE ANNUAL GENERAL MEETING OF THE WILSON CENTRE SENIORS’ ADVISORY ASSOCIAITON ON OCTOBER 12, 2016, BE APPROVED BY THE MEMBERS.
Resolution #2
RESOLVED THAT F.K CHAN & COMPANY BE APPOINTED AS THE INDEPENDENT ACCOUNTANT FOR THE FISCAL YEAR ENDING JUNE 30, Z017 AND THAT THE MEMBERS APPROVE F.K. CHAN & COMPANY TO PERFORM A NOTICE TO READER ENGAGEMENT FOR THAT FISCAL YEAR.
Resolution #3
15.2c of Part 4 (Proceedings at General Meetings) is proposed to be changed to: Paragraph 15.2c of Part 4 (Proceedings at General Meetings) of the current Constitution and Bylaws reads as follows:
At an annual or extraordinary general meeting or an extraordinary general meeting, a quorum is 40 members of the Society.
The Board of Directors recommends that you vote FOR this proposed change. Historically it has proven challenging to entice members to attend the annual general meeting. With a history of having only one meeting per year, unless otherwise required, it is imperative that a quorum is achieved so that important business can be dealt with. Recognizing this challenge, the members of the Society approved a change recommended by the Board of Directors at the 2013 AGM to reduce quorum for an AGM from 70 to 40 and to eliminate the requirement for quarterly general meetings, which had historically not been held. Even with this change and the use of inducements to try to get members to attend the AGM, it has continued to be proved challenging to hit quorum. We have chosen 15 as the appropriate number for quorum moving forward as thie represents a group slightly larger than the historical size of the Board of Directors of the Society.
Roland R. Mitchell, Treasurer
On behalf of the Board of Directors of the Wilson Centre Seniors’ Advisory Association.
October 12, 2016