IIMS Canada AGM Meeting Minutes

Minutes of meeting held on April 29th 2017

In attendance; Barry Andrews, Cecil Noronha, Ian Hopkinson, Harold Gordon, Don Rose, Don Kimura, Dave Logan, Jon Logan, Sarah White, David Wood, Justin White, Keith Davies, Peter Golden, George Geatros, Jostien Hoddevik, Lachlan Machenzig, Alistair Beaton, Mike Duff, Drew Korek, Chris Loat, Ed O’Connor (via zoom) and Don Tranter (via zoom).
Meeting Called to Order@ 10:22 PST

Opening Remarks:
Drew Korek welcomed our 2 guest speakers Chris Loat & Mike Duff then Ed O’Connor started his opening remarks. Ed reviewed what the IIMS Canada committee has been dealing with throughout the year including the addition of RDM Lawyers as our legal counsel and Squire Accounting as our financial representatives. Ed noted to all that we are now compliant, what bylaws are created this year (stamps, proprietary use of logos, how to deal with customer complaints). The committee will further develop and maintain integrity in the industry. Ed noted that all listed items are a work in progress. Ed noted that Ian Hopkinson hosted the small craft seminar and that it was a first for IIMS Canada. There will be more membership based seminars in the future. Ed mentioned the marginal response with the IIMS UK based seminars on Zoom. Ed also noted the committee’s plan to reach out to membership to keep them abreast of the committee’s progress throughout the year. Ed thanked Drew Korek for his 110% efforts this year with an assortment of issues that arose unexpectedly. Finally, Ed noted that he wants to hear from all members and thanked them for the past year of dedication to the IIMS Canada.

Constitution:
Ed noted that at every AGM the constitution should be reviewed. This past year the constitution was unaltered. Members were reminded that the constitution will be found on the IIMS Canada website in the near future.
Re Election of Committee Members:
All current committee members were asked to continue in their roles for the 2017/2018 year.
Committee members for 2017/2018;
Drew Korek – Regional Director
Ed O’Connor – Chairman
Barry Andrews – Secretary
Jostein Hoddevik – Treasurer
Ian Hopkinson – Committee Member, West
George Geatros – Committee Member, West
Said Nassif – Committee Member, East
Ron De Bakker – Committee Member, East
Motion to accept – Ed O’Connor, Seconded by Dave Logan
All in favour – Moved

Financial Report:
Drew Korek presented and walked all present members through paper copies of the yearend financial report for 2016 and the current financial status report, both prepared by Squire and Company.
Drew reviewed the ordeal that came up in the last year and how the IIMS Canada was mistakenly registered as a “not for profit” organization with 56 shareholders and how we needed to restructure to a Society. This error was an unexpected expense that will not come up again in the future. This money that was spent on Lawyers and Accountants will be available to spend on guest speaker or other benefits to IIMS Canada members in the future.
Drew noted the ongoing issue with members directly paying dues to IIMS UK instead of paying dues to IIMS Canada and transferring all the payment to the UK at once to save Institute money in transfer fees. This causes large accounting problems in the UK. This money is better used on membership benefits instead of paying cross border money transfer fees.

It was reported that all members of IIMS Canada are in good standing for the 2017.

Alistair Beaton asked Drew to re-explain why there were no 2015 financial reports. He was informed that there was no IIMS Canada in 2015 officially so there are no financial records.
Alistair then asked to see an itemized breakdown of the Financial Professional fees noted on the financial statements that were presented. Drew explained that these were costs for Lawyers and Accountants in the unexpected emergency restructuring. Drew noted that if any members want to see the full breakdown of the Lawyers and Accountants bills that he would gladly e-mail them if requested.
Alistair then asked to have the requirement to restructure the IIMS Canada to be explained to him again. Don Rose and Drew Korek re explained the situation that arose to the membership.
It was noted that membership thought that all the financial statements should be available on the website.
Motion to accept – Don Kimura, Seconded by George Geatros
All in favour – Moved

Other Business:
-Drew Korek welcomed Justin White to the AGM as an applicant to IIMS Canada
-Don Rose moved to have the IIMS Canada continue to pay for wreaths at the Battle of the Atlantic and Remembrance Day ceremonies in the upcoming year, Seconded by Sarah White.
All in favour – Moved
Adjournment
Ed O’Connor adjourned the AGM @ 11:34 PST

Download the minutes in word document format: IIMS Canada AGM April 29 2017