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October 2018 General Meeting Highlights
The Feds Annual General Meeting took place on October 24 in the SLC Great Hall.
The meeting was chaired by Feds President Richard Wu.
We are recapping the meeting’s key highlights for your convenience, so keep reading and follow along using the meeting agenda.
Housekeeping and number crunching
The agenda for the day’s meeting was approved, as were the official minutes for the March General Meeting (pdf).
Cheryl Pflug, Feds accounting manager, was invited to the stage to share the auditor’s report containing Feds' financial statements for the past fiscal year. Feds is a not-for-profit corporation under the Ontario Corporations Act and every University of Waterloo undergraduate student is a shareholder. As such, an independent auditor is contracted every year to conduct a formal audit of the corporation’s financial statements.
Pflug shared the highlights of this year’s report, including an overall increase in net assets of $402,000. Total assets increased by $959,000, which is greater than the increase of $640,000 seen last year.
The full auditor’s report and complete financial statements will be made available on the Feds website.
“If you have any questions after the General Meeting,” said Pflug, “feel free to email me and I’ll do my best to answer them at that time.”
An early conclusion
Following Pflug’s presentation, a member called for a quorum check. According to bylaws governing the General Meeting, at least 200 voting members must be present in person or represented by proxy in order to vote on any decisions during the meeting. Upon counting all of the voting and proxy cards present, this number was not met. As such, quorum was lost and no votes could be conducted for the remainder of the meeting.
It was determined that the meeting would move forward with all remaining items to be presented as informational only.
The key highlight was a presentation by the Task Force for General Meeting Engagement, which was formed following last fall’s Annual General Meeting. The task force presented their findings and their recommendations for potential by-law amendments.
You can catch up on the events of the entire meeting including the presentation from the task force by watching the livestream video posted by Feds. Join us in March for the next General Meeting!