Finance Committee

Minutes of the Finance Committee Meeting

October 27-28, 2020

Virtual via Teams


ATTENDED:  Doug Gaetz – Chair and 1st National Vice-President, Cosimo Crupi – Co-Chair and RVP-Northern and Eastern Ontario, Gary Esslinger – Co-Chair and RVP-Prairies, David Webster – Presidents’ Representative, Kingston Local 00011, Liam Merrigan – UTE Staff Advisor, Stephanie Wolff – UTE Staff Advisor.

1.  2021 & 2022-2023 Budget

The committee reviewed the 2021 budget and made necessary changes.  The committee reviewed the 2022-2023 budget and made necessary changes.

2. Review of Finance Book

The committee reviewed the finance book and noted corrections/updates that needed attention.

3. Review of UTE’s Investment Portfolio with Investment Advisor from CIBC Wood Gundy 28 Oct 2020 @ 10:30.

Howard Greenberg, of CIBC Wood Gundy, updated the committee on the performance of the investments and noted that we are doing fairly well with our investments under the current conditions.

4. Review of the committee resolutions recommendations

The committee reviewed and updated the recommendations 1-6.

5. By-law review

The committee reviewed the by-laws.  Only change to be made is to Regulation 22 for the salaries for the National President and National 1st Vice-President.