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General Secretary’s report July 2017.
6
5 Nominations of younger members.
Nominations have been received as follows.
GFTU Executive Committee
Callum Clapham, Bakers Food and Allied Workers’ Union.
Keeley Lipscombe, Transport Salaried Staff Association.
Christine Miller, Prison Officers’ Association.
Maddy Radcliff, Musicians’ Union.
Freddie Seale, GMB.
The BGCM suggested 4 seats for young members. We have five nominations. The purpose of
creating these seats is to create a developmental opportunity for younger workers and to help
them grow in their trade union roles. It would not in my view breach rule or the spirit of the
decision at the BGCM to include all five nominees and avoid an election.
Educational Trust Trustees.
1 Charlotte Appleyard, Community.
2 Maddy Ratcliffe, Musicians Union.
3 Antonietta Toriello, Artist Union of England.
The Trustees accepted all of these nominations at their recent meeting.
6 Finances
6.1 GFTU
All of the relevant finance papers are attached.
We propose to disinvest our shares. We have asked Legal and General to recommend a short
term investment vehicle for these.
We have drawn down an amount from our portfolio to hopefully cover all our cashflow
requirements to the end of the year.
Planned staffing expenditure has been slightly reduced by the fact we are not appointing a full
time ICT officer.
All affiliations moneys have been received.
The EC may want to give consideration to the subscription level, currently 98p.
The EC will note extremely good performance on our investments, 15%+ net of all fees. This is
the highest ever and vindicates our decision to change fund managers within the context of
more buoyant markets. The EC should be fully aware that even at its very best projects the new
build income streams will not be near this amount, at best they are likely to be a quarter of this
figure.