EC Meeting Papers January 2019

EC Minutes November 2018

6. Finance and Budgets.

Bro. Nicholls gave an overview of the accounts and financial information that had been circulated within the EC papers.

EC Members approved GFTU management accounts

Bro. Nicholls discussed that a decision needed to be reached regarding lending money to the ET to build onto site. It had been previously agreed from previous EC meetings that the plan was to move from money markets to invest onsite. EC members discussed the options, 1, leave money in portfolio bank it, 2, company Rathbone or 3, invest it and lend money at a rate of 2.5% Bro. Nicholls reported that the Next valuation was due next year. EC members discussed draw down penalties, time deadlines and possibilities of other options available. Bro. Williams suggested holding a F&GP conference call meeting to discuss in further detail.

Bro. Nicholls confirmed that financial advisors had been spoken to but asked that EC members delegated the decision to Bro. Nicholls, Bro. Smith and Bro. Williams subject to an email exchange before a final decision was made.

EC members agreed

Bro. Nicholls confirmed that the hotel budget would not be discussed today as a Hotel Directors meeting would be taking place Friday 14th December 2018. Bro. Nicholls was pleased to report that Steve Orchard was now on the hotel Directors board.

7. New Build Report.

Bro. Nicholls reported that the new build completion date was the day before the start of the BGCM which would be taking place 19 th May 2019. Penalties of £16,000 had so far been received due to the contractors being behind contracted deadlines.

8. BGCM, Motions, Arrangements.

Bro. Nicholls discussed BGCM arrangements and deadlines for motions and nominations and confirmed the deadline date was 22 nd January 2019.

Bro. Nicholls agreed to recirculate BGCM deadlines to General Secretaries and EC members.

Bro. Nicholls discussed the proposed motion of the improvement of the procedure to elect General Secretary.

9.

General Secretary’s Report.

Bro. Nicholls proposed to EC members the possibility of using part of the Education Officers salary to help to access learning funds by hiring a consultant/advisor.

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