YUFA Foundation Nov 10, 2006 AGM Minutes

NOVEMBER 10, 2006

1. The meeting was called to order by P.Evans at 3:15pm.

2. Agenda. Motion to approve the agenda as read. Moved : A.Hilliker, second N. Madras. Passed.

3. Minutes of the 2005 Annual meeting. Motion to approve. Moved: A. Hilliker, second , P.Stewart. Passed

4. Nominations. P. Evans noted that todate no nominations had been recieved and invited nominations from the floor. Two members Neal Madras and Beryl Pilkington agreed to stand. Motion: to close nominations. Moved A.Hilliker second, D. Dippo. Passed

5. Annual Report. Item for action: Motion: The Foundation Directors have considered the implications of the establishment of the new Faculty of Health and held discussions with the York Foundation. The result is a unanimous recommendation that we establish a new scholarship for that faculty rather than reallocate the existing number of scholarships. This entails a new donation of $3000.00 per year. The Directors are willing to allocate $6000.00 over the next two years for this purpose. They will seek reimbursement from the YUFA Trust and also recommend to the YUFA Trust that it contribute $30,000.00 to be matched by the Ontario Government resulting in an endowment of $60,000.00 which would yield an ongoing annual scholarship of $3,000.00 commencing in 2008-9. Motion to approve Annual Report Moved A.Hilliker second, D. Dippo. Passed

6. Financial Report: Motion to approve: moved by Beryl Pilkington, second, A. Hilliker. Passed.

7. Reappointment of Auditor. Reappointment of Philip Creighton as auditor. Moved: A. Hilliker, second, D. Dippo. Passed.

8. Meeting adjourned. Motion : A: Hilliker, second ,D.Dippo. adjourned at 3:30pm