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RCO Bulletin May 25, 2020 RCO Foundation Annual General Meeting Zoom meeting started at 7:00 Rod: Toast to the Queen and Canada Judy: Invocation Rod: 24 members plus 2 guests are present George F: Introduced Melanie Warrington, the RCO Foundation’s new secretary, chosen by an outside search firm. Rod: Announcements? - RCO Trafalgar bottle drive is still ongoing for the Oakville Rotary Relief Fund.
Meeting turned over to George Farrow, Chair, RCO Foundation, for the RCOF Annual General Meeting George F: I would like to cover approval of our financial statements with auditor’s report and election of officers of the RCOF Board. George recognized current and past members of the RCOF who have met eight times over the past year. He also recognized Rotarians whose sweat equity made this Foundation possible. In particular, Rae Townsend’s and Len Warrington’s long hours of hard work with Halton Region to further increase funds for the Foundation. George had earlier distributed minutes from the May 6, 2019 AGM to RCO members and now requested approval. Motion moved by Len; seconded by Michael B; all approved. George welcomed all RCO members and gave a short welcoming speech: Despite COVID and its effects, we have to observe some restrictions. Many charities are unable to run money-raising events; we had to cancel the Speakers Series and may have to do the same with the golf Tournament. But we are different due to the foresight of previous members. We have a fund that needs to be distributed, despite the market being down. We paid out $86.000 and $106,000 in the past two years and still have to pay out $109,000 this year. RCO will continue to provide needed services to our community. Our early discussions as a Board centred on our relationships with RCO and how we could meet the requirements of CRA. We had a joint meeting with RCOF and RCO Board to iron out any disagreements. We recommended that RCO form a Legacy Committee to initiate and manage legacy projects. Let’s now move into the financial statements. Len: RCO will continue to provide needed services to local and international committees, many of which will continue to be funded by RCOF. During this year, RCOF has successfully completed the following: - Legal responsibilities drawn up
- Budget discussed included legal responsibilities and misunderstandings
- Meeting set up between RCO and RCOF to clarify and resolve any misunderstandings
- RCOF recommended that RCO set up a Legacy Committee to pursue ideas for the RCO centennial and for infrastructure projects; RCOF will fund opportunities proposed by Legacy Committee and Centennial Committee
- Set up a search committee for position of executive secretary to keep accurate and timely documentation for the RCOF Board. Consultants recommended Melanie W who currently manages housing projects
The pandemic will come to an end. We are in excellent position to continue RCO’s work. We have lots of opportunity to serve: money, people, ideas and fortitude to move into the future. Len: Review of audited statements (audit completed by Brownlow). Our financial position is in better shape than we might have expected, given COVID and its impact on the financial markets. Current value as of Dec 31, 2019: $3,295,514 RCOF expects to donate abut $109,000 to RCO Charitable Trust this year, allowing RCO to continue to give back to the community. Len: I move that we accept the auditor approved statements as presented. Mahendra seconded; all approved. Rae: Nominations for the Board: - George: Two more years
- Rae: Two more years
- Len: Two more years
- Tareq: Three years
- Gary: Three years
- Jean: Three years
- Dana: One year
- Paul Bannon: One year
- Michael B: One year
Wayne: Honorary Board member, without voting rights. George: Do I have a motion that nominations close? Len so moved; seconded by Frank; all approved. Gary moved that George Farrow be recognized for all the hard work done in the past 12 months to set up the RCOF Board and the extraordinary effort needed to be completed. George F: I move that the meeting be closed. Mike seconded. All in favour. Rod: I move that we make Wake Wayne Smith an honorary member of RCO. Dana seconded; all in favour. Mike: The Gold Tournament not yet dead; we are still in discussions for Sept 1 with RI, with the golf club and with Oakville West. Rod: Next meetings: - June 1: Water First
- June 15: Turnover
- June 29: George and Tye Farrow
Judy: The first scholarship winner from the University of Sudbury will be a guest speaker at lunch with RCOT on Thursday, May 28. Rod: To friends and Rotarians around the world. |
