Minutes of the Finance Committee

Finance Committee
Minutes of the Finance Committee
November 9, 2015

National Office Boardroom – Ottawa

IN ATTENDANCE:  Marc Brière – Chair and 1st National Vice-President, Doug Gaetz – Co-Chair and RVP-Atlantic, Gary Esslinger - Co-Chair and RVP-Prairies, David Webster – Presidents’ Representative – Kingston – Local 00011 and Stephanie Wolff – Staff Technical Advisor.

  1. Review of Minutes of May 11-12, 2015 meeting and follow-ups

The committee reviewed and approved the minutes of May 11-12, 2015 meeting, and is in the process of updating the Financial Statement Line Item Review Book.  Concerning the Presidents’ Conference Observer Stipend form, the committee approved the 1st National Vice-President’s recommendation that the form will remain the same.  It has been agreed to that if per diem and/or leave without pay surpass $500, no receipts will be required.

  1. Review of Minutes of September 21, 2015 conference call meeting

The committee reviewed and approved the minutes of September 21, 2015 conference call meeting.

  1. Review of July 2015 Financial Statements and September 2015 Investments

The committee reviewed and approved the July 2015 Financial Statements.  During the review of the July 2015 Financial Statements, the committee also reviewed the National Committees Expense Report and it was determined that effective January 1, 2016 the Harassment Committee will be removed from the National Committees Expense Report.  The committee also reviewed the Investments as of September 30, 2015.

  1. Review of UTE’s Investment Portfolio with Investment Advisor from CIBC Wood Gundy

The committee received a presentation from Howard Greenberg, our investment advisor from CIBC Wood Gundy.  The committee reviewed and discussed the investment portfolio with Howard.

  1. Review of Over-Expenditures at July 31, 2015

The line items over expenditures were reviewed and discussed.

  1. Review of Stipend and Residence Expense for RVPs during leave situations

The committee had a lengthy discussion about the residence expense and stipend and has decided that the 1st National Vice-President, on behalf of the committee, put it on the agenda for the next Executive Council meeting as an open discussion item.

  1. Funding UTE’s 50th Anniversary

The committee agrees that funds could be used to recognize the 50th anniversary of the Union of Taxation Employees.  The committee believes that there are funds available for that purpose.

  1. Review of Travel Practices

The committee discussed the current travel practices, the possible use of a corporate travel agent or to set up a corporate account for UTE with Air Canada. The 1st National Vice-President will gather additional information and the committee will continue its discussion and review at the next meeting.

The meeting was adjourned at 5:30 pm on Monday November 9, 2015.

/sw