Trustees Meeting - 12 April, 1999

1999 APRIL 12

Present: Michael Copeland, Paul Evans, Tiit Kõdar, MarySue McCarthy, Neil Wiener

The meeting came to order shortly after two in the afternoon, with Paul Evans taking the chair.

The minutes of the last Annual General Meeting, and the minutes of the previous YUFATrust meeting were reviewed.

Business Arising: Paul Evans reported on the YUFAFoundation’s March 17 meeting with Mary J. Scheepers , Director of Student Financial Services, regarding the arrangements for the YUFA OSOTF bursaries and scholarships. As outlined in Mary’s letter of March 25, 1999, the university guarantees that there will be scholarships available based on merit alone, and undertakes to fund any that fall outside the OSOTF guidelines. The Trust, through the Foundation, contributed $600,000, & the Foundation $250,000. The province matched these contributions, so that there is now an endowment of 1.7 million dollars.

Publicity: Gary Smith, VP University Advancement, told Paul that our press release will be printed in Update, the Gazette, Profiles, as well as the Campaign Report, and YUFAF will appear among the donors in the yet to be established Honour Court.

Future projects: As there is some $400,000 left in the Trust’s funds, everyone felt that some should be kept back to cover the possible expansion of the Faculty Club.
The province’s Access to Opportunities Program is not one we should worry about.

Ontario Graduate Scholarships in Science and Technology: After an unanimous vote on a motion by Michael Copeland, seconded by MarySue McCarthy, it was agreed that $5000 per year should be contributed to the Ontario Graudate Scholarships in Science and Technology for the duration of the programme,
beginning with the next academic year. The YUFAFoundation will be expected to work out the terms of the transfer, including a proviso that the province’s guidelines be interpreted as broadly as possible so that it will apply to students of as many departments as possible.

Topping up of Memorial Scholarships: Neil Wiener raised the matter that some scholarship funds, at least one in the name of a person who was active in YUFA (Dick Gorensen), had failed to reach a level sufficient for the awarding of a named scholarship. It was agreed that the Foundation should be invited to explore the possibility of topping up these funds by requesting a contribution from the YUFA Trust. The Trustees agreed to give such requests sympathetic consideration.

Graduate Summer Scholarship: A motion made by MarySue McCarthy, seconded by Neil Wiener, and passed unanimously, requires the YUFATrustees to give sympathetic consideration to funding a YUFAFoundation proposal made in response to Mary Scheepers’ suggestion.

Student Financial Emergencies: Neil Wiener moved, and MarySue McCarthy seconded a motion to invite the Foundation to explore the possibility of contributing to a central fund to aid students coping with unforeseen financial shortfalls. Student Affairs seems to have some moneys, as do colleges, who often have a couple of hundred dollars for such aid. Paul Evans will talk to Student Affairs about the problem.

Tennis dinner: the Development Office/University Advancement as a thank you has given the Foundation and Trust sixty tickets for a dinner to distribute as they see fit. The Trustees suggested that the request be passed on to the YUFA Executive for comment and that Trustees, Foundation Directors, YUFA Executive members and their spouses could be invited.

There being no new business, the meeting adjourned at 15:00.