ANNUAL GENERAL MEETING SUNDAY, FEBRUARY 16, :00 to 4:40 P.M. (sign-in begins at 12:15) Comfort Inn 3020 Blanshard Street, Victoria, BC AGENDA

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1 View Street, Victoria, BC V8W 1J Toll Free: ANNUAL GENERAL MEETING SUNDAY, FEBRUARY 16, :00 to 4:40 P.M. (sign-in begins at 12:15) Comfort Inn 3020 Blanshard Street, Victoria, BC AGENDA 1. CALL TO ORDER 2. ESTABLISH A QUORUM 3. APPROVAL OF AGENDA 4. MINUTES OF 2012 ANNUAL GENERAL MEETING 5. PRESIDENT S REPORT AND INTRODUCTION OF BOARD MEMBERS 6. TREASURER S REPORT 7. APPROVAL OF BUDGET 8. BUSINESS ARISING FROM THE MINUTES (NONE) 9. NEW BUSINESS: NEW BYLAW 10. QUESTIONS FROM THE FLOOR 11. ELECTION OF NEW BOARD MEMBERS 12. ADJOURMENT OF BUSINESS MEETING Following the conclusion of the business meeting, seminar will begin. Guest speaker will be Lawyer R.C. (Tino) DiBella speaking on: Recent changes to the Strata Property Act Is it time for SPA-lite for small stratas? Court decisions affecting strata owners Depreciation Report Providers who is qualified?

2 NEW BYLAW PROPOSAL: Part 13 - WIND UP OF THE ASSOCIATION 13.1 In the event of dissolution of winding up of the Association, all its remaining assets, after payment of liabilities, shall be distributed to one or more recognized Non- Profit Organizations in British Columbia. (Note to members this proposed bylaw is a formality, to make it clear that the assets would not be divided among the membership in the unlikely event that VISOA is dissolved) ELECTION OF BOARD MEMBERS: Our bylaws state: The number of directors must be nine (9) or a greater number determined from time to time at an annual general meeting The term of office of a director shall be two (2) years The terms of directors shall be staggered so that no less than four (4) directors are elected for 2-year terms at each Annual General Meeting. The following directors have completed the first of their two-year term and have agreed to serve on the 2014 Board of Directors: Esther Harvey Deryk Norton Wendy Wall The following directors have completed their two-year term and are willing to stand for election to the 2014 Board of Directors: Sandy Wagner John Webb Harvey Williams The Nominations Committee has nominated the following members for election to the 2014 Board of Directors: Denise Brooks Deborah Fraess David Grubb Lynn Klein Laurie McKay At previous years AGMs the board was given the approval to have up to 13 directors. The current board would like the membership s approval to have 11 directors in 2014.

3 Box 601, Yates Street, Victoria, BC V8V 4Y9 Tel: Toll Free: or Annual General Meeting Minutes February 24, 2013 (Unapproved) 1. Call to Order Sandy Wagner welcomed the attendees, dealt with housekeeping issues, introduced the Volunteers and Business Members and made an announcement about our new publications. The Annual General Meeting (AGM) of the Vancouver Island Strata Owners Association was called to order at 1:07 p.m. on February 24, 2013, at the Victoria Edelweiss Club in Victoria, B.C. by Sandy Wagner, President. 2. Establish a Quorum A quorum was established. 3. Approval of Agenda Motion: To approve the Agenda as presented. Moved: Strata #933 Seconded: Strata #86 MOTION CARRIED. 4. Minutes of 2012 Annual General Meeting Motion: To approve the 2012AGM Minutes as presented. Moved: Strata #1308 Seconded: Strata #1699 MOTION CARRIED. 5. President s Report See Attached 6. Treasurer s Report Sandy pointed out one change to the Report that was sent out in the Notice of Meeting Package. The purchase of computer and office equipment was incorrectly reported as a regular expense but should have been reported as a capital expense. 7. Approval of the Budget The President noted that the budget was presented as a deficit budget where in the past we have always presented a balanced budget and for many years we have always ended the year with a surplus. This is not considered a good practice for a non-profit society. Although a deficit is never desirable, we have enough surplus at present to handle deficits for several years so the expenditures will include hiring the Administrative Assistant which will free up Board members to concentrate on marketing and growing the organization. AGM Minutes February 24, 2013 Page 1

4 Motion: To approve the Budget as presented. Moved: Strata # 1695 Seconded: Strata # 5158 MOTION TO APPROVE THE BUDGET WAS CARRIED 8. Old Business and Business Arising From the Minutes Nil 9. New Business Nil 10. Questions and Comments From The Floor Strata #2221 stated, To the people who worked to improve the format of the budget, well done! It is very easy to read and all the information is clearly presented. 11. Election of Board Members The President stated that the Board would like to increase the number of members to 12 from 10 because of the increased work load. She read out the information contained in the Notice of Meeting package which listed the Directors who were entering the second year of their term Beverly Grubb (#415), Paulette Marsollier (#827), Cleve Patterson (#5373), Sandy Wagner (#1052), John Webb (#1650) and Harvey Williams (#933). She then read out the names of those Directors who were willing to let their names stand and introduced the slate of new nominees willing to let their names stand for election to the 2013 Board of Directors. Nominees who have agreed to let their names stand for another term: Tony Davis (#61), David Grubb (#415), Deryk Norton (#4795) Nominee who was appointed to the Board in November, 2012, and has agreed to let her name stand for a two year term: Esther Harvey (#5872) Nominator: Strata #1146, Seconded: Strata # To re-elect these members to the Board. MOTION CARRIED The President pointed out that the VISOA bylaws permit a Board of Directors must consist of at least 9 members but may be increased by the membership at the AGM. She said that the Board would like to increase the number of Directors to 12 to incorporate a director of social media and another director to learn the duties of the Helpline. She called for volunteers or nominations. Wendy Wall (#1052) volunteered to stand as a director of social media provided that she could get volunteer help to develop the portfolio, since it required a lot of time. Seconded: Strata #1052 (another neighbour). Moved: Strata #4795, Seconded: Strata #1308 To approve the nomination and increase the size of the Board to 11. MOTION CARRIED 12. Adjournment of Business Meeting The President declared the meeting adjourned Time 1:22 p.m. Minutes submitted by: David Grubb, Secretary Approved by: AGM Minutes February 24, 2013 Page 2

5 President s Report for the Annual General Meeting Held 24 February 2013 I would like to start by introducing the current Board of Directors. First, Tony Davis our Vice President, is away on vacation. But here are the rest of your Board: Past President Harvey Williams. Board Secretary David Grubb. Treasurer Esther Harvey Government Relations and Bare Land Stratas Deryk Norton Publications Chair John Webb Membership Chair Beverly Grubb Business Members and Workshops Cleve Patterson Workshops, Depreciation Reports, and Real Estate community liaison Paulette Marsollier It is an honour and a pleasure to work with this great group: Thank you all. I would like to also thank and acknowledge five other former Directors, who spent varying amounts of time with your Board in Malcolm Read, Al Prentice, Laurie McKay, Cathy Turner, and Glenna Ireland. These five Directors, who stepped down in 2012, will be missed. We are looking for two more members to join your Board. I must stress this is a working board, not a governance board so be prepared to be kept busy if you volunteer or accept a nomination. Elections will be at the end of our AGM. One of the two functions we currently want to fill is a director of social media to give us a presence with the "new-fangled stuff" such as Facebook and Twitter. And we also need another director to learn the Helpline. We currently have an excellent Helpline team in Harvey and David, and two volunteers to give them the occasional day "off but really do need more trained members of this important team. I want to bring you up to date on what we have been up to this year. As you know, for over 5 years we have advocated a public review of strata legislation, including the Strata Property Act, and the legislation that governs strata management licensing, and regulation of condo developers. We surveyed strata property owners across the province for their opinions of current strata management licensing and posted the results of that survey on our website, and made those results known to the government and the press. We continue to make the case to government for the need for a comprehensive public review of legislation that affects all of us. If you would like more information on this, you can speak to Deryk at the break. We are currently providing input to the implementation of the new Civil Resolution Tribunal Act it will provide a quick and low cost means of resolving strata disputes. We understand the Tribunal chair will be appointed in the next few months, and so with luck the tribunal will be up and running by this time next year. We have completely updated our website have any of you checked it out? We are pretty happy with it. Most of the work was done by Tony Davis and Elsie Lockert, after a crash course in "Wordpress". It is all over my head, but they tell me it is easy so look for frequent updates to the website content. We did not hire the Administrative Assistant that we had intended (and had budgeted for) so we have ended the fiscal year with a budget surplus. We have recently rented office space and our Admin person should be on the job in the next few months. You will soon be able to visit our office, have basic questions answered, and purchase your publications there. We will be changing the address and phone number on our stationery and website once the office is open. I would really like to thank YOU our members - for your support this year. When we increased membership fees one year ago, in order to improve the services we give, we were prepared for a modest decrease in membership numbers. However, I am pleased to report that our total membership has grown by two percent in We increased the number of seminars; added one new publication and revised two others; and added four workshops to your suite of services. I hope you appreciate our efforts. Sandy Wagner Presiden AGM Minutes February 24, 2013 Page 3

6 View Street, Victoria, BC V8W 1J Toll Free: ANNUAL GENERAL MEETING FEBRUARY 16, 2014 FINANCIAL PACKAGE A. Financial Statements for the Year Ended December 31, 2013 (Unaudited) 1. Notes to the Financial Statements 2. Balance Sheet as at December 31, Statement of Income and Expenditures for Year Ended December 31, 2013, with comparison to 2012 B. Proposed Budget for the Fiscal Year 2014

7 Vancouver Island Strata Owners Association NOTES TO THE FINANCIAL STATEMENTS December 31, 2013 (Unaudited) 1. Purposes of the Organization The Vancouver Island Strata Owners Association (the Association ) is a society registered under the Society Act of British Columbia. The Association was formed to assist Vancouver Island strata lot owners and councils in the management of their strata corporations, and to represent and advance their interests at all levels of government. The Association qualifies as a not-for-profit organization exempt from income tax under the Canadian Income Tax Act. 2. Revenue Membership fees are recorded as revenue in the year they are received. 3. Capital Assets Capital assets have been amortized according to Generally Accepted Accounting Principles. 4. Contributed Services The value of volunteer and other services contributed to the Association is not reported in the financial statements. There is no objective basis available to measure the value of these services, and the Association does not maintain detailed records of these services. 5. Remuneration of Directors and Officers Directors receive no remuneration for their services. 6. Financial Statement Presentation The current year s comparative financial statements are unaudited. They have been reviewed by a Chartered Certified Accountant. 7. Assets Laptop computer, desktop computer, two multipurpose printers, helpline telephone, office telephone, projection screen, and projector. 8. Inventory Publications. 8. Budget Deficit The predicted budget deficit for 2013 did not occur, due to later-than-expected office startup, and higher-than-expected membership revenues s budget predicts a deficit, mainly due to higher expenses for seminars, and planned expenses for advancing the interests of strata owners to the government. The deficit will be offset by accumulated surpluses from previous years.

8 Vancouver Island Strata Owners Association Balance Sheet as at 31 st December 2013 ASSET 2013 $ Current Assets Chequing - VISOA Coast Capital Savings-Paypal Petty cash Paypal 5570 Coast Capital Share Account 5 Investments Prepayments 1823 Inventory 3051 Total Current Assets $ Capital Assets Computer Equipment 1653 Accumulated Depreciation TOTAL ASSETS LIABILITIES Current Liabilities Accruals 1915 Payroll EQUITY Owners Equity Retained Earnings Previous Year Current Earnings LIABILITIES & EQUITY

9 Vancouver Island Strata Owners Association Income statement for the Year ended 31st December 2013 REVENUE Variance 2012 Total Budget Total $ $ $ Corporate Membership Individual Membership Business Membership Total Membership Revenue Sales Revenue Bulletin Sales Publication Sales Seminar Revenue Workshop Revenue Advertising Miscellaneous Income Net Sales Other Revenue Bank Interest Total Other Revenue TOTAL REVENUE EXPENSES Purchases Total Purchases Payroll Expenses Wages & Salaries Total Payroll Expense General & Administrative Expenses Accounting & Legal Advertising & Promotions Bookkeeper Business Fees & Licenses Courier & Postage Paypal Charges & Bank Charges Amortization Expense

10 Vancouver Island Strata Owners Association Income statement for the Year ended 31st December 2013 PAGE 2 Insurance Office Supplies Printing Photocopy Cost Website & Internet Training - Board Venue Rental Office Rent Repair & Maintenance Telephone Travel & Accommodation Total General & Admin. Expenses TOTAL EXPENSE NET INCOME FOR THE YEAR

11 VISOA Budget 2014 REVENUE Total $ Corporate Membership Individual Membership 4800 Business Membership Total Membership Revenue Sales Revenue Bulletin Sales 2130 Publication Sales 4000 Seminar Revenue 380 Workshop Revenue Advertising 3500 Net Sales Other Revenue Bank Interest 300 Total Other Revenue 300 TOTAL REVENUE Payroll Expenses Wages & Salaries Total Payroll Expense General & Administrative Expenses Legal Fees & Retainer Advertising & Promotions 1000 Bookkeeper 6650 Business Fees & Licenses 120 Courier & Postage 3000 Paypal Charges 820 Amortization Expense 720 Insurance 3000 Office Supplies 2100 Printing 8380 Photocopy Cost 1620 Website & Internet 4700 Training - Board 1000 Venue Rental Office Rent 4800 Repair & Maintenance 300 Telephone 2400 Travel & Accommodation 2450 Total General & Admin. Expenses TOTAL EXPENSE NET INCOME FOR THE YEAR