UCC Meeting on 25th March 2021
UCC General Meeting Minutes 2021-03-25
- Last meeting minutes uploaded to the website.
- [TEC] Timothy Chapman, President
- [MPT] James Arcus, Vice-President
- [BLU] Grace Fowler, Secretary
- [LMH] Liam Hammond, Treasurer
- [APA] Alistair Parkinson, Ordinary Committee Member
- [HET] Nicholas Clemments, Ordinary Committee Member
- [LCY] Lo Chien-Yi
- [JTU] Jason Tu
- [PQZ] Alexie Wallace
- [EGG] Alex Barker, Fresher Representative
- [OKC] Benjamin Wright, Ordinary Committee Member
- [MTL] Mark Teale
Meeting opened at 17.20
- [MPT] Motions: To amend the previous Term Deposit Resolution, with a view to:
- Acknowledging that the target rate of return cannot be met;
- Considering that investment options other than term deposits may be appropriate;
- Balancing a reasonable rate of return with any potential risk to the principal; and
Ensuring that the money remains accessible to be applied to endeavours that further the objectives of the club.
- Original term deposit resolution in 2016.
Quorum Not Met
- [TEC] called meeting to order.
- Can still discuss the motion at another general meeting.
- The term deposits are about to expire on the 29th of March, but there's no good interest rates that exist on offer. Other Options Considered;
- Stock market investment.
- [MPT]; Put money into the stock market. Capital could be at risk.
- [PQZ]; Can we invest in the stock market as a charity?
- Index funds.
- [LCY]; Fall back on index funds.
- [TEC]; And have part of the main money in index funds.
- [LMH] in favour of index funds.
- Leaving the money in the saving account.
- [TEC]; Everything into a normal account. Assign what we want to do to it later.
- Splitting the money into multiple investment options.
- [MPT]; Expanding so it doesn't have to be a term deposit.
- Spending some of the money.
- [TEC]; Consider using a portion of the funds to invest in the clubroom. At a general meeting it can be decided how it should be spent.
- [LMH]; Should have a committee meeting to discuss what we're doing with the funds before we move the money.
After Deposit Expires
- Committee exersice 3.2.3 and will decide to sit on the money and not renew the term deposit. Shift funds from reserve to cash account. They can't touch it without general meeting approval.
Recommends to close meeting so more people can come and workshop the motion.
[MPT] Motions: That we close the meeting.
Meeting closed at 17.41