YUFA Trust Annual Meeting Minutes - 8 November, 2004

YUFA Trust
Annual Membership Meeting Minutes
8 November 2004
Curtis Lecture Hall M

1. The meeting was called to order by Paul Evans at 2:50 p.m.. On a motion by Louise Ripley, seconded by John Blazina, the agenda as circulated was approved.

2. Acceptance of the minutes of the 8 October 2003 Annual Meeting. Moved by Jamie Llambias-Wolff, seconded by John Blazina, that the minutes be accepted. Carried

3. There were no matters arising.

4. Approval of the Financial Report. Moved by Nick Lary, seconded by Louise Ripley, that the Financial Report be approved. Carried.

5. Appointment of Auditor. Moved by Ruth Anna Dyer, seconded by Louise Ripley, that Philip Creighton be reappointed. Carried.

6. Nominations and Elections. Lorna Irwin and Penni Stewart have been nominated for Trustees. Incumbent Trustees Paul Evans, Walter Whiteley and Don Dippo have agreed to stand. There were no other nominations. Moved by Louise Ripley, seconded by Jamie Llambias-Wolff, that nominations be closed. Carried. The five Trustees were acclaimed.

7. Report of Trustees. Moved by John Blazina, seconded by Joan Allen, that the Report of the Trustees be accepted. Walter Whiteley suggested that McGuigan S.S. be replaced by Emory C.I. in the report to more accurately reflect schools in the Westview Partnership. In response to a question, it was noted that the Faculty Club Board voted itself out of existence. Carried.

8. Proposal to donate $252,500 to enable annual York/Westview scholarships. Moved by Penni Stewart, seconded by John Blazina, that the YUFA Trust donate the money with discussions to follow between the YUFA Executive, the YUFA Trust, and the YUFA Foundation to consider the implications of the disposition of demutualization funds on the York/Westview scholarships. Carried.

9. Motion on Socially Responsible Investments within the York Endowment and York Foundation. Moved by Walter Whiteley, seconded by Louise Ripley, that:

Whereas the funds of the YUFA Trust are held on behalf of the faculty members of York University and are to be used for the larger interests of the Faculty of York University;
Whereas substantial funds of the YUFA Trust have been passed to York University, via the YUFA Foundation, for scholarships and further transfers are planned;
Whereas the faculty and York University have shared interest in the long term health of our environment, our economy, and our communities;
Whereas both York University as an institution, and York faculty, as a community and as individuals, have goals and commitments that are best supported by sustainable and socially responsible investment practices;
Whereas failure to follow sustainable practicesin areas such as the environment, corporate governance and basic labour practices represents a significant risk for long term investors, such as York University;
Whereas a number of US Universities offer donors the option of placing donated funds in investment pools with socially responsible and sustainable practices;
Whereas the York Foundation and the York Endowment do not currently have policies, practices or investment vehicles to support socially responsible practices and the broad values representing the mission of York University;

Be it resolved that the Trustees of the YUFA Trust be mandated to:

- work with the York Foundation and York endowment funds to develop socially responsible investment options for donations to York University;
- transfer current, future, and where feasible past donations, from the YUFA Trust to York University to such investment vehicles when they have been developed;
- report to the membership of the YUFA Trust on progress of these efforts.


10. There being no other business, John Blazina moved, seconded by Louise Ripley, that the meeting be adjourned. Carried.