DCF Board Meeting - July 23rd, 2019

DCF Board Meeting

Wednesday, July 23rd, 2019

6:00 ET

Location:

By Telephone

Attendance:

Karl Bélanger, Melissa Hunter, Mohammad Akbar, Rebecca Blaikie, Diane Idibe,
Jon Weier, Amy Boughner, Jay Ramasubramanyam, Debbie Owusu-Akyeeah.
Non-board member: Josh Bizjak

Adoption of Agenda

m/s/c

2. Adoption of minutes

Minutes of the previous meeting are read and adopted.

m/s/c

 

3. President’s report:

Karl mentions that there was a significant turnover of Board Members at the AGM, which is interesting and challenging.

The two committees charged by the previous AGM to review governance issues and the DCF by-laws made limited progress.

The DCF received a nice letter from a scholarship recipient and was read. The DCF needs to revisit its links with the different universities to strengthen the relationship and increase awareness.

4. Financial Report: No official report as the position is vacant, following the resignation of Emilie Taman. Karl gives a general overview of the financial situation. Our assets remain healthy. The DCF raised more money in the past year, thanks notably to a generous donation from the Flanagan Institute.

Minimal progress has been made on the transition. A full audit needs to be conducted before the end of the year.

Karl had a meeting with Scotia McLeod about our assets. They are proposing a new fee  

structure, in essence moving to a fee-based structure from a per transaction cost. With the fee-based structure, our investors pledge to make himself available for board meetings and consult on the construction of a new investment policy statement. With a fee-based structure, we would be much more nimble in the markets as there are no commission minimums on trades.

Motion moved to ask the new treasurer to review, met with Scotia McLeod and report to the Board on a recommendation for the proposal.

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5. Election of officers

 

President: Karl Bélanger

Vice-President: Rebecca Blaikie, Derek DeVlieger

Executive Secretary: Anne Scotton in abstentia, pending her acceptance;
Mohammad Akbar as alternate.

Treasurer: Melissa Hunter


6. Staffing

Chris Markevich has moved on from his position but has been elected to the Board, which will be helpful for institutional memory. Josh Bizjak has been helping out on a volunteer basis.

 

Motion moved to regularize Josh Bizjak’s situation by compensating his work on a similar contract as previous assistant, to be negotiated with the President.

 

m/s/c


7. Correspondence

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