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					            International Association of IATA Retirees (IAIR Canada)
                    Minutes of 2005 Annual General Meeting
Agenda Item 1: Assembly Opening and Quorum Verification

The 2005 AGM of IAIR-Canada was held on 30 September 2005 in the IATA Montreal Offices at
800 Place Victoria, Montreal, Quebec, and chaired by the President & Chairman of the Board, Mr. Hugh
Upton. 19 Members were present, see the attached attendance list. The Secretary confirmed that there
was a quorum.

The Chairman welcomed all those present to the meeting and noted that Messrs. Tore Granaas,
Rodney Wallis, Al Castan and Peter Kearvell sent their apologies for being unable to attend this meeting.

Agenda Item 2: Adoption of Agenda

The Chairman drew attention to the agenda for the meeting and proposed that it be adopted.

                   Motion: To adopt the proposed agenda.
                   Proposed: Mr. Louis Desmarais
                   Seconded: Ms. Katrinke Rickard
                   Motion carried unanimously.

Agenda Item 3: Adoption of the Minutes of the IAIR AGM held on 28 October 2004

The Chairman drew attention to the minutes of the last AGM and proposed they be adopted.
Mr. Louis Desmarais noted the misspelling of the legal counsel Borden Ladner Gervais but there were no
other comments.

                   Motion: To adopt the minutes of the 2004 AGM.
                   Proposed: Ms. Claire Shotlander
                   Seconded: Ms. Marie-Paule Latreille
                   Motion carried unanimously.

Agenda Item 4: Board of Director Reports

(a) Report of the President.
The Chairman presented a report of IAIR activities since the 2004 AGM. He noted some disappointments
including the cancelled garden party, no developments in concessionary travel, the resignation of Bob
Richardson as Membership Secretary, the risk to medical insurance and the lack of meetings of the
Pension Committee. To replace Bob Richardson, new Membership Secretary was needed urgently.
There were about 20 new members but we had lost about 3. A new flyer to advertise the Association to
new retirees had been produced.

(b) Report of the Treasurer
Ms Terri Matharu summarised the healthy financial status of IAIR and tabled the following documents:

        Treasurer’s report - September 2005
        Operating Statement for the year ending 31 December 2004
        Statement of expenses and revenues from 1 January to September 2005
        Budget estimates for 2006




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            International Association of IATA Retirees (IAIR Canada)
                    Minutes of 2005 Annual General Meeting
Ms Matharu concluded that, based on the increased membership, the IAIR dues did not need to be
changed.

                   Motion: To maintain the membership dues at the same cost for 2006.
                   Proposed: Ms. Sandra Pawson
                   Seconded: Ms. Claire Shotlander
                   Motion carried unanimously

(c) Report of the Pension Committee Representative.
Mr. Keith King reported on the Pension Committee situation. He considered it an absolute disgrace that
no meeting of the Pension Committee has been held during 2005 and that a valuation of the Canadian
fund had not been produced and made available. This was despite the fact that IATA is obliged to
produce, for the benefit of all pensioners, a yearly valuation of the Canadian Plan Fund.

IAIR wrote to the IATA DG (Mr. G. Bisignani) complaining about this. The IAIR letter acknowledged the
fact that some members of the committee had retired; requiring new nominations by management and
election of staff representatives. This was not considered a valid reason to withhold information about the
financial state of the funds i.e. the valuations. The DG replied there had been a great turnover in PC
membership. We found that the Committee is now composed entirely of new members except for the
IAIR representative. Mr. Bisigniani also stated the Canadian plan is now 98% solvent and that the IAIR
representative would receive a briefing on the valuation as soon as it was available.

IATA plans to hold “a couple of training sessions” for the new PC with the Investment Managers and the
Actuary. The committee will meet on 6 October for the first of these training sessions. A representative
from UBS will conduct this first session. There was concern that this may only be a marketing exercise by
UBS. IAIR commented to the PC Secretary that we would much prefer to have someone who
understands the responsibilities of the PC to address the committee. We are to be invited to review the
Valuation at an unspecified time. We very much require a briefing by the Actuary, with an opportunity to
quiz him on the future prospects, having regard to the very large turnover of staff.

This presentation led to a discussion where various points were raised including Ms Sandra Pawson
highlighting the impact on the fund of withdrawal of all investment in the pension scheme by younger
employees leaving IATA. Regarding an alternate to the IAIR PC representative, there had been no
requirement this year as yet because there had been no material to study. Mr. Louis Desmarais offered a
motion that proposed that IAIR should recruit an alternate representative to the PC in order to have a
second person attend the training session on 6 October.

         Motion: That the IAIR BOD undertake immediate action to recruit an additional IAIR
         representative to attend the 6 October 2005 session for members of the Canadian PC.
         Proposed: Mr. Louis Desmarais
         Seconded: Mr. John White
         Motion carried unanimously

(d) Report of the Secretary
Mr. Ray Walder highlighted some of the items in the third edition of the IAIR Newsletter that had been
mailed to members and noted that copies were available at the meeting. Members were encouraged to
contribute news of retirees and other items of general interest to IAIR members to the next and
subsequent editions of the Newsletter. This led to some discussion including the change of medical
insurance company to Manu-Life and whether new certificates would be issued and whether it would be
possible for Pharmacists to bill the insurance company directly for their contribution.

Mr Lawson White also drew attention to travel concessions available to IAIR members and would provide
details to Mr King to include on the IAIR web-site. Mr King would also provide a link from the IAIR web-
site to the IATA “In Touch” newsletter. Action: Messrs L. White & K King.




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            International Association of IATA Retirees (IAIR Canada)
                    Minutes of 2005 Annual General Meeting
Mr Walder also drew members’ attention to items on the IAIR-CH website (www.iair.ch) and his
communication with Mr Mark Hawes regarding IAIR-CH activities.

Agenda Item 5. Adoption of Financial Statements

The Chairman invited those present to adopt the financial statement presented by Ms. Mattharu.
               Motion: To adopt the Financial Statement.
               Proposed: Mr. Lawson White
               Seconded: Mr. John White
               Motion carried unanimously

Agenda Item 6: Adoption of Budget 2005-6

The Chairman asked those present to adopt the proposed 2006 budget.
              Motion: To adopt the 2006 budget.
              Proposed: Mr. Lawson White
              Seconded: Ms. May Goodfellow
              Motion carried unanimously.

Agenda Item 7. Election of Members of the Board

The Chairman asked those present if they supported the continuation in office of the current officers of the
Association.

                   Motion: To re-elect the current board of directors.
                   Proposed: Ms. Moira Payette
                   Seconded: Mr. Shoukry Henien
                   Motion carried unanimously.

Agenda Item 8: Appointment of Auditor

The Chairman proposed the re-appointment of the firm of Albert Caune, to serve as auditor of IAIR until
the next AGM.

                   Motion: Albert Caune be re-appointed as IAIR auditor.
                   Proposed: Mr. Keith King.
                   Seconded: Ms. Marie-Paule Latreille.
                   Motion carried unanimously.

Agenda Item 9: Appointment of Legal Counsel

The Chairman also proposed the re-appointment of Borden Ladner Gervais as legal counsel to IAIR until
the next AGM.

                   Motion: That the firm of Borden Ladner Gervais be re-appointed as legal counsel for IAIR
                   Proposed: Ms. Terri Matharu
                   Seconded: Ms. Claire Shotlander
                   Motion carried unanimously.

Agenda Item 10. Other Business
The Chairman invited those present to raise any issues of interest not already discussed. One issue
noted by the Chairman was support for Bill C-281 in Parliament.

NOTE: Subsequent to the AGM Mr Hugh Upton reported that:
I have just checked the government of Canada web site concerning the status of Bill C-281; a bill to modify
the bankruptcy act so that employees have the same rights as preferred creditors in the case of a
bankruptcy. It appears that this bill passed second reading and has now gone, or is going, to committee;


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            International Association of IATA Retirees (IAIR Canada)
                    Minutes of 2005 Annual General Meeting
Industry, Natural Resources, Science and Technology. We will continue to monitor this proposed legislation
and will keep you advised accordingly. Meantime, if your MP is a member of said committee, it might be
worthwhile boning up on this bill and talking to him/her about it.

Agenda Item 11: Adjournment of Meeting
There being no further business, the Chairman proposed that the meeting be adjourned and all present
were invited to stay for lunch.
                 Motion: That the meeting be adjourned
                 Proposed: Ms. Sandra Pawson
                 Seconded: Ms. Marie-Paule Latreille
                 Motion carried unanimously




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            International Association of IATA Retirees (IAIR Canada)
                    Minutes of 2005 Annual General Meeting
Attendance

Monique Bertrand
Eileen Caron
Louis Desmarais
Ruth German
May Goodfellow
Shoukry Henien
Blanche Johnston
Keith King
Marie-Paule Latreille
Terri Matharu
Sandra Pawson
Moira Payette
Katrinke Rickard
Claire Shotlander
Hugh Upton
Ray Walder
John White
Lawson White
Bob Woodhouse




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