Sigma Phi Delta Fraternity
Vancouver Alumni Chapter
RE: Minutes of Alumni Meeting of October 18, 1998
Meeting at Holiday Inn at Eaton Centre, Burnaby at 7:45pm
Attended by: AH, KD, BD, HE, JM, KO.
NEW BUSINESS
Al Nemetz Letter
AN sent a letter, dated Oct 7, 1998 to KD with concerns of statements made in the September issue of the Alumniflier regarding the Abe Lighthall Bursary & dues.
Past correspondence between AN and the alumni chapter was reviewed.
Our understanding is that AN's main concern appears to be that asking for a $20 donation was a "breach of good faith"
KD will compose a reply to his letter demonstrating that we understand his concerns.
Financial Report
Laurie Maranda and Len Strilchuk have both submitted donations.
There were 33 active members last year that each paid $20 ($660 total).
The Canada Trust account is divided into three sub-accounts:
Operating expenses (eg. dues, mailings): ~ -$190.
House (eg. property taxes, insurance): ~$10. Note: this account should have an approx. zero balance as the actives pay money to cover these expenses. Last year, house insurance was about $1900 and property taxes were about $4600.
House Maintenance (eg. donations): ~$1050.
Therefore, the balance of the account is ~$820.
The remaining portion of the House Maintenace fund ($12,250) is invested in an Ethical Money Market Fund at VanCity Savings (approx. 2% interest rate). This rate is too low for today's markets and the money should be moved to a no risk higher interest bearing account.
The fwat house inspection has not yet been completed. This inspection is required to determine what house repairs are required in the future. Therefore, House Maintenance funds can be invested appropriately.
RP was supposed to arrange the inspection. RP appears to have been transferred out of the Lower Mainland. It is not known if he can still carry on as House Liason Representative. BD to contact RP and determine his situation.
BD contacted Darrel Fry of Levesque Securities in regards to various types of funds. There is an account available that guarantees a 4‡ % interest rate with no risk. BD to transfer funds from VanCity to this new account while information is obtained about the fwat house's condition.
Upcoming expenses include National Dues ($200 USD) and 1998 Joint Province Convention charge ($150 USD).
Over 150 issues of the September issue of the Alumniflier were mailed out to all alumni in the database whose addresses were known at a cost of about $140. (AH addendum: approximately 30 have been returned due to non-current addresses)
Next newsletter should indicate expenses incurred by the alumni chapter each year. In addition, a financial report should be published.
Chief's Birthday Party
The party was held on October 10, 1998, during the Thanksgiving long weekend.
Again, there was very poor attendance.
It is recommended that the party be moved to the following weekend in future years.
Christmas Cocktail Party
KD to contact Scott Groves to confirm date of party.
Invitations will not be mailed in order to reduce expenses. Alumni executive will telephone members. AH to compose phone-out list.
Next Meeting
Mid-November at Delanie's Pub on Kingsway in Burnaby. Date TBA.
The minutes above are correct to the best of my knowledge.
Andrew Happer
Vancouver Alumni Chapter Secretary
Sigma Phi Delta Fraternity