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News - Finance - 2 Nov 2007

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Finance: 2 Nov 2007
Treasurer Report

At long last we are able to provide current and up-to-date financial reports, copies of which will be posted on the Branch Bulletin board for your information. We do ask you to leave the copy on the board for the next member to read. As usual, a current copy will be available at the General Meetings to all in attendance.

The actual statements are being prepared monthly by Linda Mitchell, our auditor, and in so doing, our Annual Reports will be almost immediate at year end.

As many are aware, our investment portfolio has grown considerably since receiving a wonderful bequest from the Estate of Jack Koehler, a Past President and great friend of Branch 50. The monies have been invested at the Bank of Montreal our Branch banking establishment, and over a 5 year period at compounded interest. The rates are the best we could get.

Comrades Don Madill and Peter Whitehall have been asked and agreed, to join my Finance Committee to provide insight and advice to our Board on investments and spending. I look forward to working with Peter and Don.

The Branch is very strong financially, and in order to remain so, we must continue to grow. This year members voted to pay the memberships of all member veterans (World War I, II and Korea), we are very delighted to do this for our veteran comrades, but we should try to replace the numbers in order to bring our collected dues up to what it was a year ago. If every member would try to bring in a new member in the next 6 months, we would never look back.

Bring a neighbour or friend to one of our many events and let them see what they are missing. Or better yet, get a group together and come on out and have a good time.

Jim Fraser
 

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