2005-2006 Treasurer's Final Report: Joanna Langille

Treasurer 2005-2006 Final Report
Joanna Langille

Actions Taken:

a) Budgeting

I presented a budget to the CUSID General Meeting in the fall. This budget was very similar to budgets that have been presented over the last few years; no drastic changes were made.

b) Reimbursements

There were only a few requests for reimbursements this fiscal year. These were standard requests for trophy engraving, website fees, and photocopying.

c) Constitutional Amendments

In my role as Treasurer I proposed two constitutional amendments. In the first term, I suggested that the constitution reflect the need for the Treasurer to keep receipts from year to year and to provide a statement of cash flow at the end of each year. This amendment, which was approved by the CUSID General Membership, was motivated by the need to maintain better records and ensure transparency and accountability.
The second amendment was co-sponsored by the CUSID President and the ED. We added a note that the President and the Treasurer should look over Schedule A at the end of the year to ensure that the membership list is up to date.

Financial Summary:

Opening Balance: 1972.69

CUSID Dues x 31 = 310
Gavin McGrath’s outstanding CUSID dues = 70

Engraving Nats Trophy = 19.23
Engraving Northams Trophy and everything else Jo Nairn won last year = 122.70
CUSID Web Hosting fees x 2 year = $63.56 (NB: Julieta was able to get a deal whereby the web company offered her a deal to pay for two years in order to get a much reduced rate. The Exec approved the advance payment of these fees.)
Dash for photocopying = 23.01
Mike Powell from Carleton for photocopying = 20.00
Padraic from Carleton for photocopying = 5.00

Current Balance: 2118.25


a) Transfer of Signing Authority

This year there was a significant problem with the transfer of signing authority from the 2004-2005 President and Treasurer to me and Jess. There were three problems that could be avoided in future years. First, the former Treasurer left for abroad without having assured the transfer of signing authority, which meant that it was very difficult to coordinate a transfer. Second, it is easiest to transfer signing authority when all necessary individuals are in the same place at the same time. Finally, it was necessary to follow up on the actions of the employees at TD Canada Trust, for they failed to help us in the way that they assured us they would.
With these problems noted, I would suggest that future Treasurers and Presidents make an effort to a) transfer signing authority as quickly following the CUSID National Meetings as possible; b)

b) Request Receipts Earlier

This year I forgot to ask people for receipts until the end of the year. Next year the CUSID Treasurer should remember to do this earlier.

c) More Communication Required

Generally more communication is required between the past and present Executives. It would be helpful if the past Exec members would make themselves available to advise and assist the incoming members.

If you have any questions, please do not hesitate to contact me.

Thanks guys!

Posted in Executive Reports.

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