Directors meeting Tuesday October 9, 2007 - DRAFT

DRAFT Minutes of meeting of the YUFA Foundation Directors held in room 214 Atkinson on Tuesday October 9 at 5 p.m.

Present: Paul Evans (chair), Neal Madras (acting secretary) and Beryl Pinkington (participated by telephone). Regrets Stan Jeffers, Ray Rogers

  1. It was agreed that these minutes will be reviewed by Stan Jeffers and Ray Rogers before the AGM.
  2. Minutes of meeting of May 3, 2007. Approved prop BP seconded NM.
  3. Matters Arising. Our contribution for the proposed $500 increase in YUFA scholarships would be $75,000 as the total is $150,000 rather than the $160,000 mentioned in the minutes. The trustees had approved this amount and it would be ratified at the Trust AGM on October 16. The YUFA Trust had also asked us to look into graduate bursaries.
  4. Annual Report. Approved prop NM seconded BP.
  5. Adequacy of bursary funding for graduate and part-time students. We are waiting to hear from Student Services on part-time and we will pursue investigation with Student Services of graduate bursary funding. We currently support one graduate scholarship.
  6. Elections. The Foundation Directors present are willing to continue. The YUFA Trust has suggested we nominate a YUFA Foundation director as a YUFA Trust Trustee. We agreed to follow up on this matter through the chair.
  7. Contract with Scotia McLeod. PE and SJ should sign the contract specifying 100% income objective and low risk tolerance. Approved prop NM seconded BP.
  8. Other Business. PE reviewed the financial statements. It was suggested we request a link from the YUFA webpages to those of the Foundation.

Adjourned at 5.30 p.m.