The St. George’s Society of Toronto
Annual Report 2012
In 2011-2012, the Society enjoyed even more good fun, good fellowship and good works. St. Georgians welcomed over 40 new members, flocked to sell-out events and generously donated so St. George’s could continue its long tradition of supporting causes that matter most, when they matter most.
An example of all three was the second annual President’s Reception honouring our largest donors, and especially those who have included St. George’s in their wills. I would like to thank Vice President Sandra Comisarow for opening her home to us. She and all the members of COM under-wrote the party so that not one dollar of your donations or membership fees were spent on this event.
We honoured our English heritage by celebrating the 200th anniversary of the birth of Charles Dickens with a truly inspired event, and Her Majesty’s Diamond Jubilee with wonderful garden party. We honoured our English and Canadian heritages at a War of 1812 dinner.
Many prominent Canadians from business and politics were among the over 400 guests who joined us to honour William G. Davis with our Award of Merit at the Red Rose Ball. The profits helped the Society continue to support a wide range of charities and start an endowment to Ryerson University bringing our endowments to Toronto universities to over $2.5 million. We also honoured Marie Perrotta with our Citizenship Award for her work with adults with serious developmental disabilities at Pegasus.
The Society, its events and achievements were profiled in a number of articles in the British-Canadian newspaper and featured in the internationally circulated magazine England's Standard of the Royal St. George’s Society in England. Our own Magazine continued to do the same, underlining our Good Fun, Good Fellowship and Good Works.
Throughout my two-year term as president I have been very impressed by the great efforts of many St. Georgians to help the Society grow and flourish. There are those who work behind-the-scenes, COM, our executive director and those who attend and sponsor events, and donate raffle and auction prizes, and those who invite their friends to join the Society.
I extend my sincere thanks to the many St. Georgians who have supported me, and I look forward to working with you, and our new president, on a bright future for the Society.
This year, The St George's Society of Toronto under the presidency of Diane Motley-Bailey conducted the business of The Society in a timely manner. COM fully researched, discussed and deliberated all matters brought before it during the nine meetings held during the year.
The 2011 Red Rose Ball supported grants for students at Ryerson University and provided funds for the ongoing commitments of the Charitable Trust.
During the course of the year three deaths were duly noted: Dr. Robert Buckman, Eleaner Kirkby and Trevor Metcalf. An appropriate moment of silence was held by the COM in their memory. Over 40 new members were welcomed to The Society.
This year five long term COM members retired. John Bishop (past president), Ken Foxcroft (past president), Peter Moon, Brian Ranson (past president) and Alysone Will.
We would like to thank them all for their many years of service to the Society.
The Society experienced improved financial results in the fiscal year ended August 31, 2012, compared with 2011 whose fiscal year ended May 31, 2011, due to a change in our fiscal year-end. While the General Fund which covers the day-to-day operations of the Society incurred a revenue deficiency of $10,136 versus a deficiency of $13,496 in fiscal 2011, the Charitable Trust had an excess of revenues over expenses of $23,965, thus producing a combined revenue surplus of $13,829. In 2011, the comparable figure for the combined operations was a revenue deficiency of $4,130.
Charitable Trust revenues in 2012 totalled $483,325 of which $456,778 came from the Red Rose Ball. By comparison, in 2011 the total revenue was $197,736 of which $167,920 came from the Red Rose Ball. As a result, we made increased donations in 2012 of $342,000 versus $130,090 in 2011. The Annual Report sets out details of these donations.
The General Fund also had higher revenues due to increased investment income. Total revenue was up by 20% to $164,440 ($137,539 in 2011). Interest and dividends provided $94,359 of the total which was lifted by trading profits of $18,392. Leaving aside these trading gains, our portfolio in 2012 yielded 5.33%, versus 5.17% in 2011. Other revenues in the General Fund – membership fees and member events – were both slightly lower.
Net assets of the Society totalled $2,136,500 at August 31, 2012. Nearly all of these net assets are held in two portfolios consisting of cash and securities which were valued at $2,015,316 at August 31, 2012. The report of the Investment Committee provides further details on the portfolios. As should be made clear, it is the revenue derived from the General Fund’s portfolio that meets the running costs of the Society, whereas the holdings in the smaller Charitable Trust portfolio are used for charitable donations.
INVESTMENT COMMITTEE REPORT
At the close of the Society’s fiscal year end the market value of the two investment accounts were:
General Fund Club account $ 1, 760, 060 (yield on portfolio = 4.96%)
Charitable Trust account $ 136,581 (yield on portfolio = 4.30%)
Due to historic low interest rate yields available in the low risk bond market and deposit rates available at financial institutions, the total returns were again disappointing as compared to results prior to the economic downturn.
Total returns have exceeded established bench marks, such as the Toronto Stock index's 3.79%. return from the past 12 months. The Society’s investment guidelines are as follows:
General Investment Fund -
2/3rds in blue chip dividend paying equities.
1/3rd in low risk fixed Income assets
10% of total fund in US$ investments
Charitable Trust Investment Fund -
100% in low risk fixed income assets.
Traditionally, the operating costs of the Society are supplemented from returns from the General Investment Fund. Projected operating costs of the society will require returns from our investments of approx. 6% per annum.
The Society’s Committee of Management (COM) has approved the investment committee to investigate hiring a professional fund manager to handle the Society’s investment portfolios. The investment committee will engage in a rigorous selection process of prospective portfolio managers and before recommending a fund manager to COM.
CHARITABLE TRUST COMMITTEE REPORT
Perhaps the greatest privilege of membership of The St. George’s Society is to have the opportunity to become an officer of the Charitable Trust and get the opportunity to find worthy recipients of the money we raise. We are a rare charity in that we have no fundraising costs and all of the gains we make from events, most especially the Red Rose Ball (“RRB”) can flow to causes we wish to support.
Generally we have four types of donations, one is to a large and important need chosen by the honoree of the RRB. From this has stemmed major amounts given to Toronto hospitals, Universities, cultural icons and other well recognized causes. In 2102 our honouree, the Honourable William G.Davis, former Premier of Ontario chose Ryerson University and we were able to provide them with a cheque for $260,000.
The second type of donation is much smaller however we strive to find smaller charities that are either just beginning or are doing what we feel is very important but not greatly recognized work. Through this type we have found outstanding groups such as the Regent Park School of Music, Common Ground Cooperative, The Ovarian Tumour Bank, The Stop and many more. In some cases we have been at the ground floor of these wonderful causes and we continued to support them until we find that their funding is established and sound. The challenge of course is to continue to find these institutions (or hope that they find us through our website or other means). For many of these small charities even the modest amounts we can provide can make a difference and we are very happy indeed that the long tradition of the Society can be carried through to these worthy causes.
The third type comes from previous capital investments and here the cash flow provides benefits such as scholarships on an ongoing basis. Our investment in the University of Toronto made over a decade ago continues to provide funds each year and in 2012 we were able to provide more than $46,000 in scholarships and bursaries.
Finally, each year our President’s Appeal provides funds that are donated to a charitable organization chosen by the sitting president and our Citizenship Award provides $10,000 to a truly worthy individual that has made a real difference to the quality of life in our city.
This is my final year as Chairman of the Charitable Trust and must state that this opportunity has been a honour, a privilege and a pleasure. My term has been made all the more enjoyable thanks to the unwavering support of the Trustees of the Charitable Trust, Ken Foxcroft, Frances Sommerville. and Michelle McCarthy have been a delight to work with. I am grateful to for the continued support from the members of COM and our Executive Director.
At the end of the Annual Report is a list of all the donations made for this financial year, I leave the Charitable Trust in the best of hands. I hope that all St Georgians will continue to provide us with ideas for worthy causes and to support the events that make our largesse possible.
EDUCATION COMMITTEE REPORT
Glenn H. Carter
To provide financial assistance to students in need beyond the secondary school level, the Society has established awards programmes through its endowment agreements with the following educational institutions:
a] The Society’s $1 million dollar endowment at the University of Toronto provides awards ranging from $250 to a maximum of $2,500 available in the following areas:
(i) students meeting the requisite academic standards in a programme of study in Trinity College, St. Michael's College, Victoria College, New College, Innis College, Woodsworth College, Massey College, the Faculty of Applied Science and Engineering, and the Ontario Institute for Child Studies [OISE] with preference to students involved in extracurricular activities such as athletics, community participation or cultural programmes, which by definition includes study in the United Kingdom;
(ii) students enrolled in the Faculty of Physical Education & Health with preference given to student-athletes participating in the sports of rowing, cricket, rugby, soccer and field hockey;
(iii) students of any other college or faculty studying in the United Kingdom.
b] The Society’s $320,000 endowment at OCAD University provides awards to recipients studying on exchange at universities in the United Kingdom; in the graduate programme; and having a mature student designation with a demonstrated interest in British art and design.
c] The Society’s $750,000 endowment at York University produces awards in areas of study at both the graduate and undergraduate levels. These include British studies, Nursing, Health Sciences, and exchange study arrangements with universities in the United Kingdom.
d] The Society’s $200,000 endowment at the University of Toronto in the Lawrence S. Bloomberg Faculty of Nursing provides fellowship funding in the Nurse Practioner course.
e] The Society’s $50,000 endowment at Wycliffe College provides for an endowed bursary in the Masters of Theological Studies Programme in applied field studies. Graduates work in needy communities in many diversified capacities.
The Society continues to receive excellent verbal and written reports from students and from their respective colleges and faculties.
As a result of the Society’s 2012 Red Rose Ball, funds in the amount of $260,000 have been allocated for the establishment of an endowment at Ryerson University. Discussions are underway for the completion of the necessary agreement between Ryerson University and the Society respecting the terms and conditions for awards to students.
The Society continues to review its educational programme to develop ways and means of meeting the needs of students at the secondary school level.
RED ROSE BALL COMMITTEE REPORT
This year's Red Rose Ball honoured the former Premier of the Province of Ontario, The Honourable William G. Davis. The Committee was thrilled that Mr. Davis accepted the Society’s offer to recognize his extensive and remarkable service to the Province and in particular, his dedication to the education sector through the creation of the college system.
His charity of choice was Ryerson University which has become a significant centre of higher education in Toronto, having established world-class facilities and faculties. We are pleased to report a few salient facts about Ryerson to the Society.
Located in downtown Toronto, Ryerson University is Canada’s leader in innovative and career-focused education in a distinctly urban university with a mission to serve societal need and a long-standing commitment to engaging its community.
The university has 26,000 undergraduate and 2,300 graduate students – a culturally diverse student population from 146 countries. The university employs 780 faculty and 1,700 administrative staff.
Ryerson offers more than 100 undergraduate, 42 Master’s and 10 PhD programs (including three new PhD’s programs launched in the Fall of 2011 in molecular science, physics and computer science).
95.3% of Ryerson graduates report employment two years after graduation.
The G. Raymond Chang School of Continuing Education is the country’s largest, offering 1,400 courses and 80 certificate programs.
Six notable Faculties include the Ted Rogers School of Management (Canada’s largest business school), the Faculty of Engineering and Architectural Science, the Faculty of Communication & Design, the Faculty of Community Services, the Faculty of Arts and the Faculty of Science. Each faculty boasts significant accreditations and awards.
In conclusion, the Red Rose Ball netted over $450,000, with $260,000 being donated to Ryerson University and $55,000 to charities supported by the Society (as listed in the Charitable Trust Report below). Over 450 guests graced the Canadian Room at the Royal York enjoying good food, good music and beautiful surroundings and decorations. Although at the last moment, Mr. Davis was unable to attend to receive his honour, his son, Neil Davis, spoke on his behalf. Neil Davis gave an excellent and touching speech as did other dignitaries such as former Governor General Adrienne Clarkson and The Honourable Bob Rae, both in person and by video. All in all, it was a splendid evening.
MEMBERSHIP COMMITTEE REPORT
The Society welcomed over 40 new members in 2011- 2012. Most of those new members joined (as with most organizations) because they were invited by members. We thank you, our members, for being the Society’s best ambassadors and we encourage you to continue to tell your friends about St. George’s and ask them to visit our website. We had a membership ad in the Last Night of the Proms programme at St. James' Cathedral and a number of large articles in the British-Canadian newspaper where we promoted the Society, our events and membership.
EVENTS COMMITTEE REPORT
2012 was a year full of significant anniversaries and celebrations that gave St. Georgians the perfect excuse for good fun, good fellowship and good works.
The 200th anniversary of the birth of Charles Dickens was celebrated in true Dickensian fashion at the historic Campbell House (which he could have visited) where the menu was taken from his own writings including beef roasted over an open fire, and a U of T expert spoke about him and his life.
The 200th anniversary of the War of 1812 was commemorated with a dinner hosted by The Queen’s Own Rifles of Canada in their elegant Officers’ Mess at the Moss Park Armoury, with a Ryerson University expert explaining the war.
And lastly, the Royal Diamond Jubilee was celebrated with a champagne cocktail party celebrating and toasting the outstanding 60 year reign of our much loved Monarch, Queen Elizabeth 11.
Other activities this year included everything from “Eating the Empire” to cultural events such a visit to “Chagall and the Russian Avant-Guard” and the play “War Horse.”
Most events this year were sold out very early and many attracted guests and new members. Thank you to all of you who came out in support of St. George’s and took the opportunity to help those less fortunate. Please know you have made a difference.
HERITAGE COMMITTEE REPORT
THE BURIAL GROUND, ST. JAMES' CEMETERY
Remembrance Day on November 11th, is the one day of the year when we welcome members to our annual ceremony at the Burial Ground. Time is provided for the two minutes of silence as well as selected readings by members present. Afterwards those who can come are welcome to enjoy drinks and lunch at Cranberry's restaurant which is just a short walk from the cemetery. The attendance at our relatively brief and touching ceremony has grown over the years. 39 of us were present in 2011.
The Burial Ground continues to be well taken care of by John Archer, past president, and Eileen Archer. We have an annual Spring plant day organized by committee members Sheila Cann and Joan Maggisano. This year there was not much work to do and we were able to complete the Spring clean-up and plantings on May 17th with the help of all mentioned above and Sandra Comisarow in a little more than an hour. We are pleased to report that the Burial Ground, the only property still owned by the Society, is a beautiful garden we can all be proud of. Please come to see this for yourselves if you have not visited before.
We are pleased to advise that the Memorial Book which contains all the names of those interred at the Burial Ground has been updated and is available for viewing by those who may be interested in the Society's office in St.George's Hall.
In April 1986 there was a meeting at St. George's Hall for Society members to discuss the sale of the building, erected in the late 19th century, and still owned by the Society. It was decided at that meeting that the building should be sold as the Society did not have the resources to maintain the building in proper condition. As is well known the building was subsequently sold to the Arts & Letters Club. A recording of this meeting was made on two tapes. The first tape was given to us several years ago by Henry Gibbs who was there and became the Society's president the following year. Early this year Henry found the second tape which he has sent to us. So, we now have a complete recording of this difficult and controversial decision in the office. Those who may be interested in listening to the debate may borrow a CD copy. It is approximately 3 hours long as everyone present was given the chance to speak.
List of donations (excluding bursaries) 2011-2012
Ryerson University 260,000
St. Michael's Hospital 20,000
Pegasus Community Project 10,000
Wycliffe College 5,000
Habitat for Humanity 5,000
Lions Foundation of Canada 4,600
Canada’s National Ballet School 3,500
Health Mission Outreach 3,000
Casey House 3,000
Common Ground Cooperative 3,000
Street Health 2,000
Kids Help Phone 2,000
Philip Aziz Centre 2,000
Dictionary of Old English 2,000
Ovarian Tumour Bank 2,000
Perram House 2,000
Royal Canadian Legion Poppy Fund 2,000
St. James' Cathedral 2,000
Providence HealthCare 1,500
Stop Community Centre 1,000
Princess Margaret Hospital 400
ST GEORGE'S SOCIETY OF TORONTO
THE 177TH ANNUAL GENERAL MEETING
October 25, 2011
St. George's Hall, 14 Elm Street, Toronto.
Minutes of the 177th Annual General Meeting of the St. George’s Society of Toronto, held at St. George’s Hall on October 25, 2011
11.1 MEMBERS PRESENT
Diane Motley- Bailey
11.2 CONSTRUCTION OF THE MEETING
Diane Motley Bailey, President of the Society, occupied the Chair, and Frances Sommerville, the Secretary of the Society acted as secretary to the meeting.
Due notice having been given, and a quorum of Members being present, the Chair declared the Meeting to be duly constituted in accordance with Article 9.1 of By-law 1.93
11.3 ROYAL ANTHEM
Following a long-standing tradition as a Loyal Society, the members sang the Royal Anthem.
11.4 APPROVAL OF AGENDA
On motion duly made by Christopher Baines, seconded by John Bishop and carried unanimously, the Agenda, as circulated to the Members, was approved.
11.5 APPOINTMENT OF SCRUTINEERS
The Chair reminded the Members that the Society’s By-Laws authorize polling when requested and called for volunteers who would act in the capacity of scrutineers. John Bishop and Sandra Comisarow volunteered, and on motion duly made by Alysone Will and seconded by Jane Vining and carried unanimously, were appointed as scrutineers.
11.6 ORDER OF AGENDA
On a motion made by Diane Motley Bailey and seconded by Robert Cartlidge, approval was given to the Chair to vary the order of items on the Agenda.
11.7 MINUTES OF THE 176th ANNUAL MEETING HELD ON 28th day of July, 20010.
On a motion duly made by Michele McCarthy, seconded by Michael Wilson and carried unanimously, the minutes of the 176th Annual Meeting of the Society held on July 28, 20010 as circulated, were approved and adopted as the record of those proceedings.
11.8 MATTERS ARISING
There were no matters arising from the minutes.
Diane Motley Bailey stated that she was satisfied that all correspondence had been dealt with efficiently and appropriately during the year and there were no matters outstanding. A number of questions had been submitted by email by Mr. Franklin before the meeting and had been answered in writing.
11.10 PRESIDENT’S REPORT
The president, Diane Motley Bailey, noted that the Annual Report was posted on the website and provided at the meeting, allowing time for perusal.
On motion duly made by Diane Motley Bailey and seconded by Peter Moon and carried unanimously, the President's Report was adopted.
11.11 SECRETARY’S REPORT
The secretary, Frances Sommerville, noted that the Annual Report was posted on the website and provided at the meeting, allowing time for perusal.
On motion duly made by Peter Moon and seconded by Tom Pam and carried unanimously, the Secretary's Report was adopted
11.12 TREASURER’S REPORT
In the absence of Treasurer Ken Foxcroft, the past treasurer, Gary Shaw, presented his report of the financial affairs of the Society for the fiscal year ending May 31, 2011 and for the three-month period running from June 1, 2011 to August 31, 2011.
A word of explanation regarding the three-month stub period: as you know the Red Rose Ball always takes place at the end of April but in its aftermath there is always a substantial amount of work involved in accounting for the movement of money from the Ball. Donations, payables and receivables don’t get completely tidied up until July. Closing the books and holding an audit in the midst of all that is a real chore and also leaves financial statements at May 31 often presenting a distorted picture of our position. So the recommendation was made to COM that we switch to a more suitable end-date and COM approved the change several months ago.
Let me now provide a quick overview of the full fiscal year ending May 31, 2011: (The stub period doesn’t require any emphasis as it’s a quiet time in the Society’s year and no trends have yet developed.) In the General Fund our revenues fell short of expenses by a little over $13 thousand, even though our expenses were 8% lower than last year. The problem was revenue which was 20% below last year. Most of our high-yielding bonds have either matured or been called for redemption; also we had no realized capital gains this year whereas last year we booked a $10 thousand gain. However, this year we did show an unrealized gain in the value of our General Fund portfolio of $119 thousand. That does not come into the Statement of Operations but rather flows directly into the Statement of Financial Position. This left us with net assets at May 31, 2011 of $1.9 million versus $1.8 million a year earlier. Some of this gain disappeared over the three months to August 31 due to volatile equity markets over the summer. Common shares now account for about two-thirds of the portfolio versus about 20% a year ago. We have been moving in this direction for the past several years in order to achieve some growth in the portfolio; a portfolio entirely made up of bonds and preferred shares, is not going to produce that growth nor at today’s interest rate levels is it going to meet our revenue requirements. As most of our high-yielding bonds have matured, we had to find ways of reinvesting at rates beyond the 2-3% or so of good quality medium term bonds. All the equities we hold are dividend-paying shares of major Canadian companies yielding in the order of 4-5%. You can see our holdings in the annual report.
The Charitable Trust showed a modest excess of revenue over profit but this year’s Ball produced a net of only $110 thousand with which to make donations. This combined with the President’s Appeal allowed donations of $130 thousand versus $470 thousand the year before. The net asset position in the Charitable Trust was thus increased by about $10 thousand.
The financial statements have been reviewed and accepted by the COM and signed by [the President and Treasurer.] They have been audited by Marinucci & Co., the Society’s auditors, whose opinion states that “these financial statements present fairly, in all material respects, the financial position of the Society as at May 31, 2011 and the results of its operations, changes in net assets and its cash flows for the year then ended in accordance with Canadian generally accepted accounting principles.” The same opinion is given in respect of the stub period financials.
Based on this, I would now like to present two motions. The first:
ON MOTION MADE BY Gary Shaw that the Financial Statements for the year ended May 31, 2011, comprising a Statement of Financial Position as at May 31, 2011, a Statement of Changes in Net Assets and a Statement of Operations for the year ended May 31, 2011, and Notes to the Financial Statements, duly certified by [the President and the Treasurer] and signed on behalf of the Committee of Management, together with the Auditors’ Report and certification thereon, be and the same is, hereby submitted and approved.
The motion was seconded by Brian Ranson and unanimously approved.
The next motion:
ON MOTION MADE BY Gary Shaw that the Financial Statements for the three-month period June 1, 2011 to August 31, 2011, comprising a Statement of Financial Position as at August 31, 2011, a Statement of Changes in Net Assets and a Statement of Operations for the 3 months ended August 31, 2011 and Notes to the Financial Statements duly certified and signed on behalf of the Committee of Management by, together with the Auditors’ Report and certification thereon, be and the same is, hereby submitted and approved.
The motion was seconded by Brian Ranson and unanimously approved.
11.13 REPORTS OF COMMITTEE CHAIRPERSONS
The president, Diane Motley Bailey, noted that the Annual Report was posted on the website and provided at the meeting, allowing to time for perusal and questions of the committee chairs were invited. There being none.
On motion duly made by Diane Motley Bailey and seconded by Robert Worrall and carried unanimously, the Reports were adopted.
11.14 ENQUIRIES BY MEMBERS
A member from the floor asked for clarification of the positions of Secretary to the COM and the Executive Director. The definition of Secretary to the COM was provided in by-law 6.5.3 and the job description of the Executive Director was determined by the COM. A question was also asked for details of some of the charities that received money from the Charitable Trust. These details will be provided by the Executive Director.
11.15 COMMITTEE OF MANAGEMENT (COM)
ON MOTION DULY MADE by Michele McCarthy, seconded by Sandra Comisarow and carried unanimously it was resolved that the actions of the COM, undertaken of behalf of the Society during the year ended August 31, 2011, as recorded in the minutes of its meetings and in its Annual Report be and the same as hereby ratified, confirmed and approved.
11.16 ELECTION AND INSTALLATION OF OFFICERS AND MEMBERS OF THE COMMITTEE OF MANAGEMENT (COM) AND OF HONORARY OFFICERS
The Nomination Report was, in accordance with the Act and the By-laws, in three parts. The first was of the Officers, the second the remaining members of the COM, and the third that of the Honorary Officers. The following person, all of whom had signified their willingness to serve if so elected, were thereupon placed in nomination:
President Diane Motley Bailey
Vice President Michele McCarthy
Vice President Sandra Comisarow
Vice President Christopher Baines
Immediate Past President and Treasurer Ken Foxcroft
Secretary Frances Sommerville
ON MOTION DULY MADE BY John Bishop and seconded by Robert Worrall the foregoing persons were duly elected to the offices set out against their names, each to hold office until the next annual meeting of the Members or until a successor be duly elected or appointed.
There being no further nominations, the foregoing persons on motion duly made by Rick Comisarow, seconded by Valerie Brennan and carried by acclamation were duly elected to the Committee of Management each to hold office until the next annual meeting of the members or until a successor be duly elected or appointed.
Glenn H. Carter - Secretary
Vern Howarth - Almoner
Barry Davenport - Sgt. at Arms
Don Spratling - Steward
The Very Rev. Dr. Douglas A. Stoute - Chaplain
Rev. Edward Jackman - Chaplain
J. V. Lawer, Q.C. - Honorary Counsel
Dr. R. Comisarow - Physician
Dr. Brian Green - Physician
Gary Shaw - Marshal
S.F. Banning - Honorary “St. George”
Standard Bearers: Patrick Duncan, Derek Dodd, John Birkett, Tom Pam
The foregoing persons upon the recommendation of the Committee of Management were, thereupon, on motion duly made by John Bishop, seconded by Ian Bold and carried by acclamation duly elected to the offices set out against their names, each to hold office until the next annual meeting of the Members or until a successor be duly elected or appointed.
The President noted the recent death of Dr. Robert Buckman who had been an honorary physician for many years and a minute of silence was observed in his memory.
11.17 ELECTION OF AUDITORS
Gary Shaw thanked Marinucci & Co. for their continued good work over the past year for the Society. They have served us well and are available to the Society not just at audit season but as and when we need some advice on accounting and tax-related questions throughout the year. I am therefore recommending that they be re-appointed the Society’s auditors for the coming year and I would like to present the following motion:
ON MOTION DULY MADE BY Gary Shaw, seconded by Michele McCarthy and carried it was resolved that Sam Marinucci and Company, Chartered Accountants, be and they are hereby appointed Auditors of the society for the ensuring year at a remuneration to be fixed by the Committee of Management.
11.18 OTHER BUSINESS
A member asked if the Society was going to renew its lease with the Arts and Letter's Club or look for alternative office space. The President advised the member that a committee had been struck and would be reporting to the COM.
11.19 NATIONAL ANTHEM
Following a long-standing tradition the members sang the National Anthem.
ON MOTION DULY MADE BY Michele McCarthy, seconded by Tom Pam and carried it was resolved that the meeting be terminated.
Diane Motley Bailey