Finance Committee

Minutes of the Finance Committee

November 15, 2011

IN ATTENDANCE:  Chris Aylward – Chair, Gary Esslinger - RVP-Prairies, Doug Gaetz – RVP-Atlantic, Esther Burt – Local President-Toronto North and Monique Desrosiers – staff.

The meeting was called to order at 9:30 am.  Chris Aylward provided the agenda with the items listed below.

1. September 2011 Financial Statements

The committee reviewed the September 2011 Financial Statements.  The line item over expenditures were reviewed and discussed; a list of line items with over expenditures will be presented at the December 2011 Executive Council.

2. Investment Portfolio

Benoit Roy, Scotia Cassels' portfolio manager, reviewed and discussed the UTE portfolio with the committee and presented recommendations that were accepted.

3. Dues Increases

The committee reviewed and discussed the dues increases for the next three years and had a brief discussion on whether the additional ten cents increase implemented in January 2012 (due to the resolutions carried at convention which were over the 500K of unapproriated surplus) should continue beyond 2014.  A further discussion will take place and a decision will be made prior to 2014.

4. Budget Review

The committee reviewed the Revised Budget as per the resolutions that were carried after the budget was passed.  The Revised Budget is attached and will be distributed to all locals upon the completion of the council meeting.

5. Membership Appreciation Fund

The committee discussed the Membership Appreciation Fund and provided a recommendation.

6. RVP Cell Phones

The committee had a brief discussion on cell phones and a review and analysis on costs and services will be completed by the National office.

7. Leave with pay for Employer meetings

The committee discussed joint employer meetings and the issue of the employer providing leave with pay to a member for reasonable return travel and the day(s) of meeting(s).

8. Retirement

Sister Esther Burt announced her retirement at the end of 2011 and the committee wished her well and thanked her for her contributions to the Finance Committee.