MacMillan Bloedel Weyerhaeuser Retired Salaried Employees Club http://mbwrsec.club/ Minutes of the 37th Annual General Meeting of the MacMillan Bloedel Weyerhaeuser Retired Salaried Employees Club Held at the Royal Canadian Legion, Branch 164, 6811 Alexander Street, Powell River, British Columbia on Thursday, May 5, 2016 at 10:30 a.m. (65 members in attendance) Bob De Clark, President for the past year, called the meeting to order and welcomed all attendees to the Club’s 37th Annual General Meeting. Bob noted the recent passing of Allan Cramb, a former Director of MBWRSEC, then asked for a moment of silence for all those members who passed away during the year. Bob acknowledged all the Directors who were a tremendous help to him and who had served the members well throughout the year, including those who served on the Executive or as volunteer Committee members. He asked them to stand and be recognized. There were no new members in attendance or anyone visiting from outside the Province. Bob De Clark said that, as a Society, the Club is required to hold one annual business meeting per year. These meetings are rotated amongst our three locations and this year the formal business meeting is being held in Powell River.. BUSINESS MEETING Bob De Clark called the Business Meeting to order and noted that proper and timely notice had been given and that a quorum was present. This document is double-sided. Please read both sides. 2 Approval of Minutes Bob proposed that a reading of the minutes of the previous annual meeting be dispensed with as those minutes were posted on our website in June 2015 and circulated in July 2015. He asked for a Motion to approve those minutes. UPON MOTION of Ian Black, seconded by Marg Havens, IT WAS RESOLVED THAT the minutes of the 2015 Annual General Meeting of the MacMillan Bloedel Weyerhaeuser Retired Salaried Employees Club be approved. CARRIED Treasurer’s Report Bob De Clark called upon Don Miller, Treasurer, to present his report. Don said that a one-time event last year produced a financial loss on the Club’s books. The student bursary donation of $3,000, approved at meetings last year, impacted results for 2015. Without this one-time expense, the Club would have generated a surplus of $1,093. In short, the Club finances remain in good shape but we are facing some headwinds. Our total income for December YTD 2015 was $9,244 and falls short of $11,151 in expenditures (including bursary), resulting in a loss of $1,907. Our bank balance as at December 31, 2015 was $27,578. Our term deposit balance for December YTD 2015 was $6,237 – up $13 from last year – pretty small but at least still positive. As we all know, the fixed income market is a tough place to be these days. Our combined interest earned on the bank balance and term deposit was $27, down $16 from the previous year. Against that background, we prefer to keep cash rather than increase our term deposit position. It is just not worth the effort. Paid-up Club members in 2015 numbered 911 compared to 942 in 2014. The drop in membership has impacted revenue. For the past six years our average annual membership revenue was $10,200 and it has now slipped to $9,168. On the cost side of the ledger, our meeting expenses, including hall rental, food services, mailing and printing, totalled $8,151 – or about the same as the average of previous years. Factors helping to control our costs in a rising cost environment over the past five years included a greater use of the website and internet for communication and more conference calls for meetings. This document is double-sided. Please read both sides. 3 Looking at 2016, we expect revenues to slip while overall expenses will continually creep up. Against that backdrop we expect revenue and expenses to be about equal – so a breakeven year. Value of our Club assets at year-end – Bank balance as of December 31, 2015 - $27,578 Term deposit – $6,237 Eight Weyerhaeuser shares – book value of $220 These assets, in total, are valued at $34,035 and are largely cash The legal fund closed the year with a balance of $1,579 and is not included in our asset total. The fund is essentially dormant and will be merged into the Club bank account during 2016. Don stated that Ron Anderson, the Club auditor, had reviewed the statement of income and expense and reported the financial information is presented fairly and consistent with prior years. UPON MOTION of Bill Cornwall, seconded by Terry Stokes, IT WAS RESOLVED THAT the Treasurer’s and Auditor’s reports be adopted as presented. CARRIED Nomination and Election of Directors In the absence of Dwayne Leskewitch, Past President and Chairman of the Nominating Committee, Bob De Clark stated that the Club Bylaws provide for twenty (20) Directors, each elected for a two-year term. Each year ten Directors are elected. The following Directors have one year remaining on their current two-year term: Bill Cornwall Daryl Cunnington Dwayne Leskewitch Georgina Lorette Bob McFadden Jon Pillsbury Mary Jane Walker Nicky Watson James Whiteside Dale Wright The Nominating Committee recommends that the following be elected to a two- year term: Nancy Blair Charles Burrell Robert De Clark Joe Kozsan Gary McCaig Donald Miller Joy Miller Sid Norman Michael Rushby Douglas Telford This document is double-sided. Please read both sides. 4 After calling for further nominations three times and hearing none, Bob De Clark asked for a Motion and a Seconder to elect the incoming slate of Directors as recommended by the Nominating Committee. UPON MOTION of Sid Allman, seconded by Hector Beauchesne, IT WAS RESOLVED THAT the report of the Nominating Committee be accepted AND THAT Nancy Blair, Charles Burrell, Robert De Clark, Joe Kozsan, Gary McCaig, Donald Miller, Joy Miller, Sid Norman, Michael Rushby and Douglas Telford be elected for a two-year term (2016/2017, 2017/2018). CARRIED . Bob De Clark declared the Business Meeting concluded. GUEST SPEAKERS The Club was fortunate to have two very good guest speakers at the Nanoose Bay and Powell River meetings. They were Pharmacist Russell Beales from Nanaimo and Ann Nadalini, Pharmacist from Powell River. The topics we asked them to talk about included how Exhibit “A” of our Class Action settlement agreement fits with the Provincial Formulary Plan and Fair PharmaCare. The presentations were very informative and detailed. So much so that it is only possible to record some the most important points for our members’ information. We are not experts in PharmaCare – you should use this information as a guide to get the details from the various plans through your Doctor, Pharmacist or online. The first point was for each individual to refer to Exhibit “A” (which you received with the Class Action court documents) and is posted on our website. You made a choice to either stay with the “Current Plan” (you did not get a refund and you are paying premiums for MSP and Extended Health (EH)) or you decided to go to the “Company Paid Plan” (you received a refund and are not paying premiums for either MSP or EH). It is extremely important to register for Fair PharmaCare A key message from both speakers was the importance of each and every member of our Club to make sure they are registered with Pharmacare. There is a good chance that you are BUT it is best to confirm. The Fair PharmaCare Plan is the Provincial free third party plan for drug coverage. The Fair Pharmacare Plan helps British Columbians with the cost of This document is double-sided. Please read both sides. 5 eligible prescription drugs and designated medical supplies and is income-based. The lower your income, the more help you receive. There is no cost to register and there are no premiums. How can I register? Online using the Fair PharmaCare Web Registration www.gov.bc.ca/pharmacare OR By phone – contact Health Insurance BC o From Vancouver and the Lower Mainland call: 604-683-7151 o From the rest of B.C. call: 1-800-663-7100 Note: Health Insurance BC (HIBC) administers Pharmacare and the Medical Services Plan. HIBC Customer Service Agents are available Monday to Friday 8 AM to 8 PM and Saturdays 8 AM to 4 PM. Again, the PharmaCare website will provide you with what you need when you call to confirm your registration or for registering for the first time – information such as your Personal Health Number from your BC Services Card or CareCard, Birth Dates, Social Insurance Numbers and income information. Going online (www.gov.bc.ca/pharmacare) can also give you a complete list of the medications currently on the formulary, which indicates which brands the Fair PharmaCare Plan will cover. PharmaCare regularly changes the medications that they cover, so referring to this list is important. When online go to PharmaCare to “What We Cover” to see the listing of items covered by BC PharmaCare. Important to note: Your pharmacist can also help you determine which brands are covered and what medications require additional paperwork for PharmaCare to provide coverage. Remember, even if Pharmacare approves a drug for coverage, you still have to pay your Pharmacare annual deductible before the item is paid for at the counter. Special Authority Drugs Exhibit “A” for the Company Paid Plan states: Drugs that require special authority will not be eligible for coverage. PharmaCare, however, will consider drugs that require special authority.