SURPLUS – Member Input Requested

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 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.

13 Replies to “SURPLUS – Member Input Requested”

  1. Add $10,000. to the Bursary Endowment Fund and add the remainder to our Contingency fund. We never know where Covit 19 may take us with the need for vaccines etc. for retirees.

  2. .I suggest either a reduction in membership dues or a moratorium on them for one or more years. Our pensions have not been keeping up with inflation and some of us, especially those who retired many years ago, can feel it. (I am not speaking personally, here, those most affected are the least likely to discuss the issue.) Members with surplus income are already free to make charitable donations (e.g., to the bursary fund) but those with little spare funds should be free to make their own choices (such as giving money to grandchildren or even spending a bit on themselves!).

    1. I liked the comments of prior (first) responders. However, I am most drawn to the suggestions from Jerome Barkow. Although we also are not in jeopardy on our funds, I can empathize with members who may – particularly those who have been the longest retired. Perhaps an amendment to Barkow’s suggestion is a moratorium on dues, for a 1 year period. Any further surplus to be added to our contingency. Thanks for the opportunity for comment.

  3. I would suggest 10,000.00 to the bursary fund. Grow the rest in the contingency fund. I also like the dues holiday for a period of one year as well. Thank you for the opportunity to make comment.

  4. Agree with the bursary fund increase but also wondering whether we could give an amount to a black or indigenous fund as we deal as a society with Black Lives Matter and reconciliation. Dalhousie has a number of such places from advising centres to the law program. Education is a major way to help these black and indigenous young people.

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