I suspect you are hard pressed to remember the last time anyone spoke of a financial surplus. I write to share that our ADRP accounts are in very good shape.
The ADRP board is seeking suggestions from members for possible uses of some of the funds in the accumulated surplus account.
The ADRP annual financial report to the end of 2019 has revealed an accumulated surplus of $25,100. This is in addition to our contingency fund of $31,100.
Several years ago, when the ADRP bursary was established it was seeded with $10,000 from accumulated surplus at a time when that fund held about $20,000. One possibility would be to add to the ADRP bursary endowment so that annual awards from it could be larger. Adding another $10,000 would boost the principal to over $50,000 which would fund an annual bursary of over $2100.
It is hoped that ADRP members would suggest other possible uses of some amount from the accumulated surplus. Members are invited to forward suggestions to Phil O’Hara at e-mail address email@example.com by November 1, 2020.
The ADRP board will bring forward selected options for approval at the upcoming online AGM (Spoiler Alert – we are planning for an AGM in November via Zoom).
Watch for an announcement of that event.