[SPD crest]
Sigma Phi Delta Fraternity
Vancouver Alumni Chapter

Meeting minutes for February 10th, 2003

Location: Elephant and Castle, BCIT, Burnaby

Present: Kevin Deane-Freeman (President), Jan Erik Laursen (Vice President), Tyler Borges (Social Coordinator), Edmund Gin (Secretary), Chad Brown (House Liaison), Justin Malcolm, Jeff Breadner.

Apologies: Brent Dozzi (Treasurer), Darren Farnworth (Western Province Councillor).

As a quorum was achieved, the meeting was called to order at 7:06 pm.

  1. Executive Reports:

  2. Chief's Bursary

    3. Bursary endowment is not earning enough income - currently sitting in an "Ethical Fund" (mutual fund). Suggestion was made to move it to something earning a little more steady income. TBorges mentioned that GIC's are earning around 2.9 percent. Discussed about long-term rotating investment vs. short-term investing. KDeane-Freeman suggested that in real-dollar terms, the amount awarded should be enough to purchase a keg of beer. JMalcolm suggested looking at a 10-year investment plan. Fundraising for this year can cover the disbursement of this year's award. Suggestion to make funding of Bursary an AGM agenda item. KDeane-Freeman suggested we come up with scenarios and table the item. Also suggested "passing the hat around" at the AGM as a part of this year's fundraising. JMalcolm suggested getting people to come out to AGM to enhance fundraising.

  3. Annual General Meeting

    4. Will be held March 28th at the Theta Chapter House. Amongst items on agenda: Elections, Chief's Bursary, Beer.

  4. National Report

    5. WPC DFarnworth was unable to attend. Rumour has it, logo sucks. Since National doesn't want the Coat of Arms, the Vancouver Alumni and Theta Chapters hereby adopts the Coat of Arms as our logo.

  5. Mail Server Project

    6. JBreadner reported that the mail server was up and running, but WinNT sucks. Now using Linux. There was an issue with switching control of the domain name to the dynDNS service, so it's currently sitting on sigphi.breadner.ca while things are being sorted out. List of names and aliases/nick-names required again. Will run server at JBreadner's residence for a few months, and then move to the House.

  6. Motions

    1. Moved: EGin, Seconded: CBrown

      Be it resolved that: The Business Manager propose alternative funding structures for the General Operating Fund at the Annual General Meeting.

      PASSED

    2. Moved: EGin, Seconded: CBrown

      Whereas: We are. Canadian.

      Be it resolved that: The titles on Form 26 be adjusted to conform to similar positions as those in our Parliament.

      (ie. President = Prime Minister, VP = Deputy Prime Minister, Social Coordinator = Minister of Health and Social Affairs, House Liaison = Minister of Natural Resources, Business Manager = Minister of Finance, Chapter Delegate = Minister of Foreign Affairs, WPC = Governor-General, etc.)

      UNANIMOUS

    3. Moved: EGin, Seconded: CBrown

      Whereas: The Chief's Bursary was set up to provide a deserving Active a bursary in memory of the Chief

      Furthermore whereas: It is our responsibility as providers and administrators of the Bursary to ensure that the funds are self-sustaining and available on an annual basis as intended

      Furthermore whereas: The current arrangement of investment of the funds is not self-sustaining due to the fluctuating nature of mutual funds

      Furthermore whereas: There are other stable investment mechanisms in existence that can ensure the self-sustinence of the fund.

      Be it resolved that: The money currently in the Ethical Fund be moved to an investment tool (such as a term deposit or GIC) that can guarantee an income that is at least sufficient to ensure the annual provision of the Chief's Bursary.

      PASSED

  7. Next Meeting

    8. Annual General Meeting, Friday March 28th 7:00pm, at the Theta Chapter House.

There being no further business, the meeting was adjourned at 9:25pm.

Prepared by:
Edmund Gin
Secretary