KAMLOOPS MASONIC TEMPLE ASSOCIATION ANNUAL GENERAL MEETING. Wednesday, May 11, 2016

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1 KAMLOOPS MASONIC TEMPLE ASSOCIATION ANNUAL GENERAL MEETING Wednesday, May 11, 2016 ATTENDANCE: President: Vice President: Secretary: Treasurer: Stan Twist Bob Chambers Peter Ian McArthur Troy Nagy Brian Turner Gordon Cory Earl Skaarup Bill Brown Agenda: attached as appendix A Property Manager: Rick Money Membership: Including the Board, there were 34 members in attendance at the AGM. 1. OPENING REMARKS At 7:00 p.m., the President called the meeting to order and welcomed the members to the AGM. He presented his report on the year of service. 2. REVIEW ENGAGEMENT REPORT The President introduced Mr. Sean Wallace, who on behalf of Tombe Herrington Chartered Accountants presented the Review Engagement Report for the period ending December 31, Refer to their report attached as Appendix B.

2 He explained that the Review Engagement is not an audit. During their review, they did not find anything untoward with the financial records of the association. He had no worries about the financial stability of the association and is satisfied that the Board and PM have performed well and the KMTA is in better financial condition now than last year at this time. In summary, he stated that the KMTA financials improved this year and is in a better financial position. 3. Minutes from the 2015 AGM Gordon Cory moved the minutes be adopted as circulated, 2 nd by Jim Fulton and carried. Those minutes are attached as Appendix C. None 4. Business arising from the minutes 5. Remarks by the President Refer to his report attached as Appendix D 6. Reports: (i) Report from the planning committee is attached (Appendix E). Please refer to Gordon Cory s report for the details. - Ongoing Assessment Appeal to have our City tax assessment reduced. Appeal expected to be heard in June The goal continues to be to reduce the tax by a further $10 to $12,000 for 3 or 4 years. Gordon also represents the Elizabeth Fry Society and the John Howard Society and they have similar appeals before the BC Assessment Authority. All were initially dismissed but most are being appealed to a higher authority. Gordon was very impressed with the quality of presentations made by the Not for Profit Appellants and felt our presentation made a good case for reconsideration. - The KMTA Planning Committee is continuing to investigate the Highest and Best Use of our existing building. In the long term, we should be open to alternatives to the status quo as Kamloops needs 2 2

3 continue to evolve. Gordon Cory invited the brethren to contact him if they would like to assist in further developing our long-term plans. Gordon moved that his report be adopted as presented, 2 nd by Troy Nagy; Carried. (ii) Treasurer s report (attached as Appendix F). Troy Nagy gave a report highlighting a GIC (reserve) of $282, and $105, GIC (tax) as of March 17, 2015 and the Interior Savings Report including an operating account bank balance of $36,985.66; rewards account of $31,746.66; shares account of $5.52 and the mortgage account balance of $3,880, There were no questions. Troy Nagy moved that his report be accepted as presented, 2 nd by Jim Fulton; Carried. (iii) Property Manager s report (attached as Appendix G) In summary, he reported a vacancy rate of 2.0% for 2015 and provided his opinions for the causes; a more robust local economy and lower vacancy rates in the city. He was careful to note that the first quarter of 2016 has become more challenging as competition for tenants is greater and local economic conditions are not as healthy. Our tenant demographic has changed from 60% over age 55 to less than 40% today. Tower renovation expenses continue to accrue as suites are vacated. Renovated suites typically demand higher rents, however in an increasingly competitive market, we may not be able to charge more. 3 3

4 The PM continues to see parking as a major challenge for our building. There are 64 parking stalls for the tower and 24 on the gravel lot. The PM has rented 12 parking spaces to $20 per month and 4 to Underwriter s $60 per month. The PM reported that in his opinion, the building is in good shape and there should be no major surprises as preventative maintenance is keeping most systems in good shape. The replacement of the hot water boilers last year has proven to be a prudent financial decision, saving us about 20% in Natural Gas costs since replacement. The PM moved that his report be accepted as presented, 2 nd by Earl Skaarup and carried. Property Manager s 2015 Budget (attached as appendix H) The PM reviewed his 2015 budget with comparisons to actuals for 2015 and His 2016 budget shows expenses at $762,556.99; income at $959,625.00; gross profit of $197, less mortgage principal expense of $100, = net profit of $96, compared to $58, in 2015 and $24, in Note: This document is the PM s personal operations budget. Troy Nagy moved that the PM s budget be approved as presented, 2 nd by Jim Fulton; Carried. iv. Resource Centre report (attached as appendix I) Brian Turner offered a comprehensive report on the Resource Center. (see attached) 4 4

5 Brian outlined the initiatives taken to improve utility of the Centre. The consulting assistance of retired Librarian Joanne Matthews is a much needed step in the right direction of taking control of our resources and managing them for the benefit of members. Brian also pointed out the Meeting of the Waters mural on the West wall of the banquet area and the etched glass doors to the banquet area as improvements due to the Resource Centre Committee. Jon Wilson moved that Brian Turners report be received as delivered: 2 nd by Stan Twist: Carried. 7. New Business: i. By-Law amendments (attached as appendix J) Motion #1 - Gordon Cory moved that Paragraph 12 of the Revised By-Laws 2012 of the Kamloops Masonic Temple Society be amended as follows: (d) Provided further, that in the event one or more of the executive positions are not elected at an AGM and are appointed by the Board, as stated in Paragraph 12, then those members who have been so appointed to the executive shall be appointed for a term of one (1) year and shall resign that position at the completion of the said one (1) year term 2 nd by Stan Twist; Carried. 8. Election of Officers: 5 5

6 6 Carl Abbott was asked to conduct the election. The scrutineers were Bill Brown and Charles Molloy. Stan Twist will remain as President. Brian Turner and Gordon Cory agreed to continue to serve as Directors. The following member were elected to serve as Directions: Bob Chambers Vice President, Ian McArthur - Secretary, Troy Nagy - Treasurer, Bill Brown - Director, and Jon Wilson Director, Brian Turner - Director. Therefore the new Board will consist of Stan Twist, Brian Turner, Gordon Cory, Bob Chambers, Ian McArthur, Troy Nagy, Bill Brown and Jon Wilson. 8. New Business: Gordon Cory noted that much of the education being done by Masonic bodies in the jurisdiction is of historic interest and will be lost to future generations if steps are not taken to preserve the information. To that end he petitioned the KMTA to purchase a 4K video camera with 2 mikes and a mixer (plus rolling quad pod). The total cost of the camera system is estimated at $5, of which $3, is being requested from the KMTA. $2, would be paid by concordant bodies and the lodges. Gordon Cory asked for a vote of support from the KMTA and received it contingent on his obtaining commitments from the lodges and concordant bodies within 6 months. Jon Wilson requested a telephone conferencing system be purchased by the KMTA for use in the Board Room and as required within the building. A discussion ensued and further investigation will be done. 6

7 Bill Brown presented a Bar Masonification proposal from an interested group of members. This project would take place while the lodges are in darkness this summer and would lend character to our austere bar by adding wood elements in an English Pub theme. There will be no cost to the KMTA and all major work will be done off-site. No infrastructure will be impacted. No permits will be required as this is a façade only. The second phase of the project may happen next year. Bill Brown asked for a vote of support from the KMTA and received it. Brian Turner presented a letter from the Royal Arch Masons offering to provide a carved wooden Square and Compasses 3 X 5 which could be placed in the banquet room to enhance the rooms character at no cost to the KMTA. Brian asked those in attendance if they approved and they responded unanimously YES! Comments: The President thanked the members for attending and for their input. The meeting was adjourned at 9:40 pm. The next KMTA AGM will be held on May 10, Bob Chambers, Vice-President Peter Ian McArthur, Secretary 7