MINUTES OF THE 5 th and a Half ANNUAL GENERAL MEETING OF ALBERTA CROP INDUSTRY DEVELOPMENT FUND LTD.

Transcription

1 MINUTES OF THE 5 th and a Half ANNUAL GENERAL MEETING OF ALBERTA CROP INDUSTRY DEVELOPMENT FUND LTD. Held in Calgary at the Delta Calgary Airport Hotel on June 14 th, 2006 beginning 1:10 PM. NOTE: This is the second annual meeting in fiscal 2006, as the regular meeting date was moved by consensus of signatories from the FarmTech event in January to June of each year. A quorum was present being: 1. Cam Klapstein (chair); 2. Tom Machacek (secretary/treasurer); 3. Marvin Nakonechny (director); 4. Bonnie Spragg (director, Irrigated Alfalfa Seed Producers Assoc.) 5. George Yeaman (CAHI) 6. Jerry Shimek (director); 7. Connie Phillips (director); 8. Murray Hartman (director); 9. Clarence Assenhiemer (Alberta Canola Producers Commission) 10. Dee Ann Benard (Agriculture Research & Extendion Council of Alberta) 11. Estelle Carson (Alberta Natural Health Agricultural Network) 12. Gertie Adair (Alberta Beekeepers Assoc) 13. Brian Otto (Alberta Safflower Growers) 14. Janette McDonald(Alberta Pulse Growers Commission) 15. John Wozniak (Alberta Barley Commission) 16. Everett Tanis (Alberta Soft Wheat Growers Commission) 17. Bruce Webster (Alberta Sugar Beet Growers) Proxy Representation: 1. Prairie Oat Growers Association (M. Nakonechny proxy) A quorum was declared with 12 of 13 signatory agencies represented. Also in attendance was Doug Walkey (Executive Director) and Alan Hall (New Innovations). Guests included: Mike Leslie, Terry Young, Nikki Barnes Alberta Barley Commission Ward Toma Alberta Canola Producers Commission Andy Kovacs Alberta Soft Wheat Producers Commission Barry Mehr - AAFRD Freda Molenkamp - AAFRD Tom Facklam- IFASA Darcy Fitzgerald - ALIDF Doug Mair, Maryanne McIntyre Richardson Partners Financial Ltd. Jane King, Dean Spaner U of A ACIDF Annual Meeting 2006 Page 1 6/13/2006

2 Qin Chen AAFC Lyriam Marques MBEC / U of C Wendy Righi Cookson Kooyman Chartered Accountants 1. Introductions and Welcome Cam Klapstein, chairman, introduced the directors, dignitaries and staff. 2. Barry Mehr, (Deputy Minister, Alberta Agriculture, Food & Rural Development) Welcoming comments. 3. Minutes From 5 th Annual Meeting, January 24, 2006 MOTION: to accept minutes as circulated. Moved: Bruce Webster; 2 nd : Everett Tannis; Carried. 4. Financial Statements and Auditor s Report Fiscal 2006 Wendy Righi of Cookson Kooyman Chartered Accountants presented the financial reports to March The presentation is attached as Appendix A. MOTION: to accept the Auditor s Report as presented. Moved: George Yeaman; 2 nd : Brian Otto; Carried. 5. Motion to Accept Actions of The Board MOTION: to accept the actions of the ACIDF Board in the interest of the company for the period since the January 24 th 2006 Annual Meeting. Moved: Everett Tanis, 2 nd : Bruce Webster. Carried. MOTION: The ACIDF board will submit a strategic work plan the coming year for signatory approval at the AGM. Moved: John Wozniak, 2 nd : Brian Otto. Carried. 6. Keynote Presentation by Freda Molenkamp: Lessons Learned in Aussie Land Ms. Molenkamp outlined a fact-finding tour to Australia in November 2005, made by a selection of people from across Alberta s crop, livestock and government organizations. The focus was on Australian research and development funding processes, sources and organizations. ACIDF Annual Meeting 2006 Page 2 6/13/2006

3 7. ACIDF Board Membership Changes Chairman Cam Klapstein formally thanked recently departed board members Peter Woloshyn and Colin Campbell for their contributions and participation. New board members were introduced; Connie Phillips, AAFRD as ministry representative Murray Hartman, AAFRD as ministry representative Jerry Shimek, AAFC as federal government representative 8. Other Business a) MOTION: that the ACIDF board investigate the wording of the awarding of Fund 2006 and investigate opportunities to make that more acceptable to signatories and bring negotiations on possible funding in 2007 to the signatories for input. Moved: Janette Mcdonald, 2 nd : John Wozniak. Carried. b) MOTION: to set up an ad-hoc group to develop a committee structure to represent growers and ensure ACIDF can do its job to develop the crop industry. Moved: Janette McDonald, 2 nd : Dee Ann Benard. Defeated. c) CONSENSUS: There needs to be improved communication between the ACIDF board and signatory organizations. Andy Kovacs suggested a brief monthly of activities that will summarize what went through the ACIDF office. 9. Next Meeting Date and Location The consensus of signatories hold the next formal AGM in June Dates and location will be arranged by the Board and announced when available. 10. ADJOURN There being no further business, the meeting then adjourned at 3:18 PM. Moved: Clarence Assenheimer. Secretary ACIDF Annual Meeting 2006 Page 3 6/13/2006

4 Appendix A Financial Statements and Auditor s Report Alberta Crop Industry Development Fund Ltd. FINANCIAL REVIEW FOR THE YEAR ENDED MARCH 31, 2006 Cookson & Kooyman Chartered Accountants Lacombe AB Cookson Kooyman Chartered Accountants AGENDA ACIDF Ltd. Audit Procedures Substantive Analytical Statement of Operations and Fund Balances Financial Summary Grant Audits #2002A060R #2002A192 #2003A134R #2005F133D Summary Audit Procedures - Substantive Substantive Testing Verify expenditures Original invoices Contracts Pick samples 16% general and administrative expenses 14% grant funds disbursed No discrepancies Audit Procedures - Analytical $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 Meetings Information Prof Services Payroll Operations 2005/ / /05 Investment Revenue Project Grant Expenditures General/Admin Expenses Sub-total Fund Balance Beginning Fund Balance March 31, 2006 Statements of Operations Funding Received Fund ,645 3,013, ,558 (2,908,822) 5,678,660 2,769,838 Fund ,593 60, , ,597 23,000,000 23,424,597 Biopolymer 26,074 1,000,000 1,084 (975,010) 1,001,667 26,657 Financial Summary Grant Audits $23 million in funding received $938,312 earned in investment revenue $323,638 in total operating expenses Residual of over $600,000 additional funding available for grants in future years Assess controls Test sample Analytical review ACIDF Annual Meeting 2006 Page 4 6/13/2006

5 Grant #2002A060R Audit Period April 1, 2002 to March 31, 2004 Grant #2002A192 Audit Period April 1, 2003 to March 31, 2004 REVENUE ($7,284 ACIDF) Travel Communication/Dissemination/Linkage Overhead Capital Excess of Expenditures over Revenue 138,384 (89,000) (14,000) (5,000) (2,000) (17,100) (4,000) 7, ,384 (81,340) (48,184) (713) (2,955) (17,095) (4,176) (16,079) REVENUE (ACIDF portion $12,667) Travel Communication/Dissemination/Linkage Overhead Excess of Revenue over Expenditures 63,100 (37,200) (14,450) (1,000) (150) (7,772) 2,528 63,100 (35,502) (11,549) (830) (8,228) 6,991 Grant #2003A134R Audit Period April 1 to December 31, 2005 Grant #2005F133D Audit Period April 1, 2005 to January 31, 2006 Grant Funds ($62,500 ACIDF) Interest Income Travel Overhead Excess of Revenue over Expenditures 125,000 (94,680) (17,000) (3,000) (10,320) 125,000 2,261 (75,728) (6,170) (1,591) (10,320) 33,452 REVENUE Facility Charges Other Excess of Expenditures over Revenue 81,508 (27,028) (2,780) (50,000) (1,700) 40,200 (17,772) (25) (24,656) (100) (2,353) Summary ACIDF Ltd. No discrepancies in expenditures noted No major issues determined during analytical $600,000 in additional revenue Audit of Grant Recipients No material discrepancies noted Expenditures in line with budgets ACIDF Annual Meeting 2006 Page 5 6/13/2006

6 APPENDIX B Attendance Participants registered for the workshop: Organization Alberta Barley Commission Alberta Beekeepers Assoc. Alberta Canola Producers Commission Alberta Pulse Growers Commission Alberta Safflower Alberta Soft Wheat Producers Commission Alberta Winter Wheat Producers Commission Alberta Sugar Beets Alberta Natural Health Agricultural Network Agriculture Research & Extension Council of Alberta Council of Alberta Horticulture Industries Irrigated Alfalfa Seed producers Assoc. Prairie Oat Growers Representation John Wozniak, Mike Leslie, Terry Young, Nikki Barnes Gertie Adair Clarence Assenheimer, Ward Toma Janette McDonald Brian Otto Everett Tanis, Andrew Kovacs Bruce Webster Estelle Carson Dee Ann Benard George Yeaman Bonnie Spragg Marvin Nakonechny (proxy) Representation: Twelve of thirteen Signatory Organizations. Board Members Cam Klapstein (Chair, Oilseeds) Tom Machacek (Secretary/Treasurer, Special crops) Bonnie Spragg (Forages) Marvin Nakonechny (Cereals) George Yeaman (Horticulture) Jerry Shimek (Federal Representative) Connie Phillips (AAFRD) Murray Hartman (AAFRD) Doug Walkey, ACIDF Executive Director Alan Hall, ACIDF New Initiatives Guests Wendy Righi (Cookson Kooyman Chartered Accountants) Barry Mehr (AAFRD) Freda Molenkamp (AAFRD) Darcy Fitzgerald (ALIDF) Lyriam Marques (U of C, MBEC) Qin Chen (AAFC) Dean Spaner (U of A) Jane King (U of A) Doug Mair (RPFL) Maryanne McIntyre (RPFL) Tom Facklam (IFASA) ACIDF Annual Meeting 2006 Page 6 6/13/2006

7 ACIDF Annual Meeting 2006 Page 7 6/13/2006