Annual General Meeting Monday, October 21, 2002 Minutes Present: Executives:
Samantha Yeung, President Jay Selinger, VP Finances & Administration John Alexander, VP Student Affairs Daniel Boffo, VP Campus Life Patricia Stefani, VP Public Relations & Marketing Cristina Roman, Business/ Health Chair Winston Tong, Transportation / Construction Chair Jeff Patton, Electrical / Electronics & CST Chair Monica Sparks, Man., Mech., & Process Energy & Natural Res. Chair
Councillors:
Teri Almas Will Heller Driss Adrao Rebecca Montgomery Vince Chabot Sam Bombardir
Staff:
Caroline Gagnon, Director Joseph Lee, Controller Geoff Gauthier, Link Editor
Guests:
Trevor Sutherland, EPR Auditor H. Thompson, Set Rep.
Tindy Bassi John White Gabe Hoye Mike Nickel Deep Thind Jeanneth Jacome
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Meeting Called to Order The meeting was called to order by the Chairperson, Samantha Yeung at 5:45 pm. (21 voting members)
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Acceptance of the Agenda It was moved by Jay Selinger and seconded by Daniel Boffo that the agenda be accepted without any changes.
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President’s Report Samantha Yeung goes over the submitted report and explains the work that was accomplished by past executives and staff members (see attached).
4.
Report on Audited Financial Statements Jay Selinger introduces Mr. Trevor Sutherland from the auditing firm EPR. Mr. Sutherland discusses various issues surrounding the Year End Financial Report. Issues such as; adjustments for COG, Honoraria, SYA fund, and amortization were part of the topics of discussion. All financial statements are reviewed by Mr. Sutherland.
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Questions: Patricia Stefani wants more clarification on the $247,000 adjustment. Mr. Sutherland explains that the adjustment was mainly due to an accounting procedure and that it did not represent shrinkage in the inventory. With the adjustment, the financial statements are more representative of the reality, maintaining a 25% profit margin. Jay Selinger inquires about the status of the organization. Have we improved as an organization? Mr. Sutherland states that last year a management letter was written to management to identify issues. He confirmed that most of the issues were acknowledged and rectified. Another management letter has been written this year concerning other issues that necessitate improvement. Mr. Sutherland confirms that he has seen a lot of positive changes since his involvement with the SA. Jay Selinger inquires about the investment situation. Mr. Sutherland confirms that the SA does not have any investment at this point and that Joe Lee, SA Controller, is in the process of working on this issue. Motion: Be it resolved that BCITSA accepts the 2001-2002 audited financial report as presented. Moved by: Jay Selinger Seconded by: Driss Adrao Carried 5.
Auditor’s Appointment for 2002/2003
Motion: Be it resolved that BCITSA appoints EPR as the auditing firm for the up-coming year. Moved by: Jay Selinger Seconded by: Patricia Stefani Carried 6.
Meeting adjourned It was moved by Jay Selinger and seconded by Monica Sparks that the meeting be adjourned. (6:05 pm.).
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