2016 AGM Minutes

From SAGoClubs
Revision as of 09:31, 26 February 2017 by Quantumf (talk | contribs) (Created page with "===Transcript=== <pre> :14] pauledwards: Morning all [9:14] bbredenkamp: they made dubstemp of the sugerplum fairy music [9:15] iaznab: hi Paul [9:15] bbredenkamp: arrrr [9:1...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

Transcript

:14] pauledwards: Morning all
[9:14] bbredenkamp: they made dubstemp of the sugerplum fairy music
[9:15] iaznab: hi Paul
[9:15] bbredenkamp: arrrr
[9:15] iaznab: only waiting for 1 more
[9:15] iaznab: calling Francois now
[9:15] iaznab: here are your opponents
[9:15] iaznab: Lloyd	W	vs	Gordon	B ||	Paul E	B	vs	Peet	W ||	Paul S	B	vs	Ben B	W ||	Francois	W	vs	James	B
[9:16] iaznab: games are all scratch, 60 minutes main time, 25 stones in 10 minutes Canadian byo-yomi
[9:16] bbredenkamp: Paul S B, good morning
[9:16] iaznab: Japanese rules, 6.5 komi
[9:16] iaznab: I'm the TD, any questions go through me please.  082 393 4917
[9:16] iaznab: please start round 1
[9:16] iaznab: James, I'm calling your opponent
[9:16] gordon.wells: I set up a game, but it wouldn't let me set komi, I assume 6.5 is default?
[9:17] iaznab: I'm sure you can set komi
[9:18] iaznab: between challenging and accepting the challenge
[9:18] bbredenkamp: ok, who is Paul S B?
[9:18] iaznab: Paul Steyn = svartrev
[9:18] iaznab: and he's playing black
[9:18] bbredenkamp: sorry, mr Steyn
[9:18] gordon.wells: tried different handicap on/off settings, the drop down didn't activate
[9:18] iaznab: Francois is on the way
[9:18] iaznab: handicap off I'd suggest
[9:19] iaznab: if need be I can work out komi at the end of the game
[9:19] iaznab: get started with the right colours and right time settings so long
[9:20] bbredenkamp: popup bockers
[9:20] bbredenkamp: sih
[9:20] Mai4ke1: When I try to create a game (just to see how komi works), I have a choice between automatic and custom. If I select custom I see the komi value.
[9:20] francoisvn: Morning all. Sorry for my lateness
[9:21] bbredenkamp: ok, challenge went out
[9:21] iaznab: hi Francois
[9:21] iaznab: ||	Lloyd	W	vs	Gordon	B ||	Paul E	B	vs	Peet	W ||	Paul S	B	vs	Ben B	W ||	Francois	W	vs	James	B
[9:21] svartrev: Hi Ben, not seeing the challenge
[9:21] iaznab: Francois, you're playing white vs James (zakumi)
[9:21] zakumi: hi francois, we are up
[9:21] gordon.wells: hmm, custom never activates for me
[9:21] bbredenkamp: Hey Paul
[9:22] iaznab: gordon/lloyd, your game you were in the komi was good
[9:22] bbredenkamp: you seem to play here more, you want to post the challenge?
[9:22] francoisvn: @zakimui: Cool cool. Are you creating the challenge?
[9:22] Mai4ke1: I find the "home" tab (in a new window) is a good place to look for challenges and active games.
[9:22] svartrev: I don't really play here often, but yeah, let me try challenging
[9:22] iaznab: zakumi, cancel your game vs XBZ please
[9:26] iaznab: Ben B and Paul S, are you guys succeeding?
[9:26] iaznab: you're the last game to go up
[9:26] iaznab: ok good, all games going
[9:26] svartrev: Yup, game is up
[10:20] chris welsh: REMINDER OF AGM DURING LUNCH BREAK
[10:20] chris welsh: Will aim for around 12, hopefully it won't take long
[10:24] francoisvn: I assume it'll be after round 2?
[10:25] chris welsh: Yes, after round 2
[10:28] Mai4ke1: The AGM is via text chat?
[10:29] iaznab: we'll have to see
[10:29] iaznab: round 1 might take another hour at least
[10:30] iaznab: AGM will be roughly mid-day
[11:16] bbredenkamp: Thank you for the game Paul, Ben W, lost
[11:16] svartrev: Yes, thanks Ben, well played
[11:29] bbredenkamp: Andre, where do I see the games that are up?
[11:30] Mai4ke1: You can look under "games" for usernames. I think that's the easiest.
[11:30] Mai4ke1: The only game going now is: https://online-go.com/game/5515919
[11:31] bbredenkamp: would be nice to be able to filter the live games
[11:32] Mai4ke1: Yes. The alternative is looking up the info of individuals in the chat to see which games they're active in.
[11:33] bbredenkamp: mmm the reaon I asked: [9:26] iaznab: you're the last game to go up [9:26] iaznab: ok good, all games going
[11:44] svartrev: When does round 2 start ?
[11:46] chris welsh: Has round 2 started yet?
[11:47] svartrev: not as far as I know, there's still a round 1 game in progress
[11:47] svartrev: I'm going to go grab a coffee quickly, brb
[11:50] iaznab: round 1 is still going
[11:50] iaznab: gordon vs lloyd is a long game
[11:57] johnleuner: :-)
[11:57] iaznab: hi john
[12:01] iaznab: I think we should have the AGM as a break between rounds 1 and 2
[12:01] iaznab: i.e. as soon as Gordon vs Lloyd is finished, let's start the AGM
[12:02] francoisvn: Isn't that going to push the tournament end quite late?
[12:02] iaznab: not really
[12:02] iaznab: the time of 1 hour main time plus 10/25
[12:02] iaznab: that's what's going to push the tournament late
[12:02] francoisvn: fair enough
[12:03] francoisvn: that and holidng the AGM today
[12:03] francoisvn: *holding
[12:03] bbredenkamp: shrug, was anounced and agreed up
[12:03] iaznab: yup
[12:03] bbredenkamp: on
[12:05] francoisvn: are we going to have a lunch break after round 2, or at more-or-less the same time as he AGM?
[12:06] iaznab: I'm hoping that people have already eaten
[12:06] iaznab: or are going to eat at the same time as the AGM
[12:06] bbredenkamp: food for though
[12:06] johnleuner: I've posted the treasurer's documents to this wiki page: http://www.sagoclubs.co.za/saga/agm-notices/notice-2016/
[12:08] francoisvn: that seems to link to 2015 content
[12:10] bbredenkamp: mmm
[12:10] bbredenkamp: on point number 9
[12:11] bbredenkamp: loans, what is that?
[12:11] chris welsh: Please follow agenda sequence
[12:13] johnleuner: We'll discuss in the AGM
[12:13] francoisvn: oh i forgot SAGA FY ends in Dec, so 2015 makes sense :)
[12:13] bbredenkamp: meeting has not started. so we are not allowed to ask clarification? I am not on the board.
[12:14] johnleuner: the loans are an internal allocation of our funds to different regions and clubs (and some individual loans)
[12:15] johnleuner: this has more historical use since we don't seem to spend any funds on a regional or club basis these days
[12:19] iaznab: ok, let's start the AGM please
[12:19] iaznab: round 2 to start immediately after the AGM
[12:19] gordon.wells: ok
[12:19] iaznab: so grab lunch while the AGM is in progress
[12:21] francoisvn: Chris said he was just stepping out quickly and should be back in about 5 minutes
[12:21] francoisvn: I'm guessing he should be the one running things, considering he's the secretary
[12:21] francoisvn: In the mean time, maybe we can review the statements and report and handle any questions?
[12:23] francoisvn: (then the AGM can mostly be the formalities for approving the documents)
[12:23] bbredenkamp: So we have a stash of cash but we are not using it?
[12:25] johnleuner: We have some investments which earn interest and help SAGA along when times are not so good
[12:25] johnleuner: and we have some cash that we use for ongoing activities, particularly for the purchase of stock which we sell
[12:25] gordon.wells: but we can't access without closing the accounts, if I understand right?
[12:26] johnleuner: So the proposal that I would like to make during the meeting is that we close one of the investment accounts
[12:26] chris welsh: OK, am back
[12:26] johnleuner: because we have a very low cash balance right now
[12:26] chris welsh: Let's kick this AGM off
[12:26] bbredenkamp: what do you suggest we do with the cash?
[12:27] johnleuner: I'll explain in the meeting
[12:27] iaznab: generally the cash is used for purchasing equipment to resell in SA; for expenses for SAGA; and for any projects
[12:27] iaznab: we don't have many projects at present
[12:27] iaznab: expenses = e.g. this tournament
[12:28] chris welsh: First item on the agenda: acceptance of last year's minutes: http://wiki.sagoclubs.co.za/index.php?title=2015_AGM_Minutes
[12:28] iaznab: the SAGA website etc
[12:28] chris welsh: Can you please read it, and then i need a proposer and a seconder
[12:29] chris welsh: You can also ask questions about this document now
[12:29] francoisvn: I propose we access the minutes
[12:29] gordon.wells: I second
[12:30] chris welsh: All in favour please vote Aye/Yes
[12:30] svartrev: aye
[12:30] francoisvn: hm... shouldn't we take attendance?
[12:30] johnleuner: Yes
[12:31] chris welsh: Yes, just doing that
[12:31] chris welsh: but we can vote in teh meantime
[12:31] chris welsh: Noting the presence of the following members: Andre Connell, John Leuner, Paul Edwards, Ben Bredenkamp, Lloyd Rubidge, John Nicolson, Francois van Niekerk, Paul Steyn, Gordon Wells, Peet Brits, Chris Welsh
[12:31] chris welsh: Not sure who Mai4ke1 is
[12:31] gordon.wells: Michael I think
[12:32] Mai4ke1: Yes
[12:32] svartrev: Rabson?
[12:32] Mai4ke1: Rapson
[12:32] chris welsh: Sorry, that's James Nicolson
[12:32] chris welsh: and Michael Rapson
[12:33] chris welsh: OK, so just one vote in favour of accepting the minutes?
[12:33] chris welsh: Sorry, 2
[12:33] svartrev: two so far, me and john
[12:33] bbredenkamp: I cannot, I was not at the meeting?
[12:33] chris welsh: OK, any opposition to the minutes, please vote No/Nay
[12:34] chris welsh: Going once
[12:34] chris welsh: twice
[12:34] chris welsh: OK, I'll consider them accepted, thank you
[12:34] bbredenkamp: mmmm Actions: Chris to add it to agenda for the next council meeting
[12:34] chris welsh: Next item, president report: http://wiki.sagoclubs.co.za/index.php?title=President_report_2016
[12:35] chris welsh: Please read, and again, I'll need a proposer and seconder to accept them
[12:35] chris welsh: Please also take this opportunity to ask the president any quesions about it
[12:36] francoisvn: sorry, thought my poposal to accept the minutes was an implicite vote for yes
[12:36] johnleuner: Can I suggest we add rough dates to those events?
[12:36] bbredenkamp: Hey John
[12:36] johnleuner: Maybe just the month for example
[12:36] bbredenkamp: are we playing with the Korean consulate again this year?
[12:36] chris welsh: Francois, yes, I'm taking it as a yes, so 2 additional votes and 4 altogether
[12:37] johnleuner: I've lost touch with those Korean guys, we can discuss it after the meeting
[12:37] chris welsh: John, good idea
[12:37] chris welsh: Any proposers?
[12:37] bbredenkamp: well: A letter of introduction was sent to general contact emails found on the embassy websites of Japan, China and Korea. I have yet to receive a reply from any of thes
[12:37] iaznab: add rough dates to which events John?
[12:38] chris welsh: to accept the minutes?
[12:38] chris welsh: I think he means to the events in the president report
[12:38] gordon.wells: or the outreach events?
[12:38] bbredenkamp: A number of outreach events were held. We were present again at events hosted by the Korean and Japanese communities. Additionally, an attempt was made to branch out into the "Con" culture and hopefully attract a wider audience. Flyers went flying -- so to speak -- at many of these. Return interest 
[12:38] bbredenkamp: is proving more difficult. Promoting Go at the Japanese Spring Festival of the Johannesburg Japanese School Promoting Go at the Japan Day, held at Root 44 market near Stellenbosch. This in turn led to a newspaper article in the Cape Times by Dawn Kennedy Promoting Go at the Korean festival at the Wa
[12:38] bbredenkamp: terfront Promoting Go at StelCon, Stellenbosch University main campus Promoting Go at UCON, UCT main campus
[12:38] bbredenkamp: no datee
[12:38] bbredenkamp: dates
[12:38] johnleuner: I propose we accept the presidents report, but we update it after the meeting to include the time of the events mentioned therein
[12:38] iaznab: sounds fine to me
[12:38] svartrev: I second that
[12:39] chris welsh: Thanks, John. Any seconders?
[12:38] gordon.wells: that sounds fine
[12:39] svartrev: Yup, me
[12:39] chris welsh: Thanks, Paul. Can you all please vote?
[12:39] iaznab: yeah all the reports are fine
[12:39] Mai4ke1: Aye
[12:39] iaznab: I'll vote for yes for all
[12:39] francoisvn: vote to accept
[12:39] bbredenkamp: mmm, was contact details for the events logged some where?
[12:40] chris welsh: Noted, Andre. I would like to keep it quick as well, but people need an opportunity to express any concerns.
[12:40] bbredenkamp: do we go to them, or do they come to us?
[12:40] chris welsh: OK, going once
[12:40] bbredenkamp: mmm, was contact details for the events logged some where?
[12:41] bbredenkamp: do we contact them, or did they contact us?
[12:41] chris welsh: Ben, are you expressing a concern about the president report?
[12:41] bbredenkamp: I do
[12:41] johnleuner: I'm sure someone has them but I don't think they need go into th president's report
[12:41] bbredenkamp: I was told I can clarify about the report at this point.
[12:41] gordon.wells: Stelcon came back to me this year, but it mostly requires vigilence from our side
[12:41] bbredenkamp: is that correct?
[12:42] chris welsh: It is correct
[12:42] bbredenkamp: and the other events?
[12:42] iaznab: we should contact them
[12:42] bbredenkamp: ok, who do we contact?
[12:42] iaznab: whoever contacted them this year should contact next year
[12:42] svartrev: I can't see any way to ensure that people will contact us, so if we want to be included, we will have to contact them, as far as I see the situation
[12:42] iaznab: but it's not that hard to find contact details
[12:42] iaznab: i.e. call stellenbosch main reception number for StelCon
[12:43] svartrev: These things tend to be on a very ad-hoc basis
[12:43] bbredenkamp: you know this, I do not
[12:43] bbredenkamp: something possibley for later
[12:43] chris welsh: Well, we're not going to get the dates and contacts added at this point. We can make a note to add them afterwards.
[12:43] gordon.wells: StelCon is basicalyl a facebook group
[12:43] bbredenkamp: are we participating again this year?
[12:43] svartrev: Most of the events are things one of us either knows about, or sees a notice for somewhere, and then we figure out who to contact to ask if we can be present
[12:43] gordon.wells: I intend to
[12:44] gordon.wells: Paul has the contacts for Korean Day
[12:44] gordon.wells: I'll resend the letter again for Root44
[12:44] gordon.wells: And want to get in touch with the Confucious institute too
[12:45] chris welsh: OK, back to teh vote. Going twice
[12:46] chris welsh: I count three yeses and no nos
[12:46] bbredenkamp: yes
[12:46] chris welsh: I'll consider the report Accepted
[12:48] chris welsh: The agenda talks about accepting the touranment report, but I don't think it is necessary to actually go thru the process. Please just read it at your leisure: http://wiki.sagoclubs.co.za/index.php?title=Tournament_report_2016
[12:48] gordon.wells: I'll update it as requested
[12:48] iaznab: the tournament report is fine
[12:48] chris welsh: If there are concerns, take it up with the tournament or membership secretary
[12:48] iaznab: we're not doing as well as we want to internationally :P
[12:48] chris welsh: I'm sorry the report is incomplete, unfortunately our tournament member is playing in China at the moment
[12:48] iaznab: but other than that tournaments are doing ok
[12:49] chris welsh: Indeed, Andre :)
[12:48] iaznab: he won 3 out of 8
[12:49] chris welsh: I'm sure he won't be happy with that :) Especially as he is a 4d now!
[12:50] chris welsh: OK, moving onto the financials: http://www.sagoclubs.co.za/wp/wp-content/uploads/2016/06/SAGAfinancials2015.pdf and http://www.sagoclubs.co.za/wp/wp-content/uploads/2016/06/treasurers_report_2015.pdf
[12:49] bbredenkamp: yea, or ranks seems a bit high
[12:50] chris welsh: I'll give you a few minutes to read over them
[12:50] svartrev: In the financial statement, under Loans, shouldn't "Other loan" have a note explaining it?
[12:51] gordon.wells: and all the regional loans
[12:51] johnleuner: yes, if we knew what that Other loan was
[12:51] johnleuner: unfortunately we don't
[12:51] Mai4ke1: Does item 4 "Stock" refer to boards and books etc?
[12:51] bbredenkamp: lol Andrew Davies 0 0
[12:51] gordon.wells: also, John, isn't your loan bigger?
[12:51] johnleuner: The regional loans don't normally have a note
[12:52] iaznab: the date under the signatures should be 1 Jan 2016, not 1 Jan 2014 please
[12:52] johnleuner: they just represent an allocation to each region
[12:52] svartrev: Waitaminute, why are there two versions of the financials?
[12:52] svartrev: http://www.sagoclubs.co.za/wp/wp-content/uploads/2005/03/SAGA-financials-2015.pdf and http://www.sagoclubs.co.za/wp/wp-content/uploads/2016/06/SAGAfinancials2015.pdf
[12:52] johnleuner: I think Chris and I both uploaded a copy
[12:52] bbredenkamp: well the one was posted by John and the other was posted by?
[12:53] svartrev: oh, ok, so same document, then'
[12:53] johnleuner: Stock refers to books and equipment
[12:53] bbredenkamp: no, copies...
[12:53] johnleuner: The loan to the treasurer (my loan) is bigger at the moment, but that was the amount at the end of 2015
[12:53] bbredenkamp: nobody aiming to go pro?
[12:53] Mai4ke1: Thanks. John, and is the "cost of sales" things like transport of the stock in that case?
[12:54] svartrev: so this "other loan", it's only R280... and we don't know what it is... is there any way to write it off or something?
[12:54] iaznab: cost of sales = the actual cost to get materials into our "warehouse"
[12:54] bbredenkamp: no, its not realy a loan.
[12:54] bbredenkamp: its like Andrews 0 0
[12:54] johnleuner: cost of sales is usually just the purchase cost for us
[12:54] johnleuner: the cost to buy from the wholesaler
[12:54] Mai4ke1: Okay
[12:55] bbredenkamp: yea, I did not charge petrol
[12:55] johnleuner: I'm not sure how to write off the 'other loan'
[12:55] johnleuner: maybe after ten years we can say that we don't think anybody will claim it
[12:55] bbredenkamp: 3 years is the cutoff
[12:56] svartrev: and Anddrew's 0 0 loan,surely that doesn't need to reflect on the statement anymore, if it's zero then there is noloan anymore?
[12:56] bbredenkamp: ( :) we will have to wait 10 years)
[12:56] johnleuner: Ok, I'll update the statements to reflect the correct date and also to remove Andrew's 0 0 loan
[12:57] johnleuner: any other questions or ones I didn't answer?
[12:58] bbredenkamp: proposal was made to release
[12:58] bbredenkamp: one of the investments, I say yay
[12:58] johnleuner: that comes later
[12:58] johnleuner: wait for Chris to finish this part of the AGM first
[12:59] chris welsh: OK,  I need proposer/seconder to accept the financials and report
[12:59] gordon.wells: A have a question that relates to it, do we keep records of all transactions? As an NPO we also now need an accounting officers report, they'll need access to that
[12:59] johnleuner: We obviously have our bank statements for electronic transactions and I keep a log of all the cash transactions, however I don't keep a log of the Cape Town sales
[13:00] johnleuner: just the payments that settle them from time to time
[13:01] johnleuner: I think that is sufficient
[13:01] francoisvn: for that tiny loan: assuming it's an unsecured loan for such a small amount, and we don't have records of who it is owed to, I think it would be acceptable to put out a call for related parties and write it off after 90 days of no response. i can check with our accountants next time I see them if I 
[13:01] francoisvn: remember, but the chance of there being any downside to doing that is slim
[13:01] iaznab: ok, I'll propose we accept the financials/report
[13:02] iaznab: I also think we should look into writing off the loan from Leander Gaum, and the 280 loan from unknown
[13:02] iaznab: in the next financial year
[13:02] johnleuner: So a call to related parties means our mailing lists?
[13:02] iaznab: yes
[13:02] iaznab: and perhaps call Leander
[13:02] francoisvn: yeah, I think that's reasonable
[13:02] johnleuner: Steve made an effort to contact Leander so I think we can write that one off too
[13:02] iaznab: pretty sure he doesn't read mailing lists any more
[13:03] chris welsh: Thanks, Andre. Anyone to second it?
[13:03] francoisvn: i'll 2nd accepting them
[13:03] chris welsh: Thank you
[13:04] chris welsh: Can everyone vote, please?
[13:03] johnleuner: Yes
[13:04] gordon.wells: yes
[13:04] Mai4ke1: Aye
[13:04] svartrev: yes
[13:04] chris welsh: going once
[13:05] chris welsh: twice
[13:05] chris welsh: ok
[13:05] chris welsh: thank you
[13:06] chris welsh: OK, council membership. None of the council are retiring this year, and I've received no nominations via email
[13:06] bbredenkamp: yay
[13:06] chris welsh: However, does anyone here wish to stand for membership?
[13:06] chris welsh: (Please do!)
[13:06] iaznab: do you need a 6'th member?
[13:06] francoisvn: presumably that's for the ad hoc council positions
[13:07] chris welsh: Francois, yes
[13:07] iaznab: ok sure I don't mind standing
[13:07] francoisvn: I'm happy to nominate Andre
[13:08] bbredenkamp: I second that
[13:09] gordon.wells: I vote yes
[13:09] chris welsh: We actually have space for 3 ad hoc members
[13:09] johnleuner: Yes
[13:10] iaznab: I thought the council was 6, not 8?
[13:10] chris welsh: Sorry, my mistake, I'm getting confused with co-opted members
[13:11] chris welsh: The council is four elected members, and the two regional presidents
[13:11] chris welsh: The latter effectively being replaced by two voted members
[13:11] chris welsh: So, yes, 6
[13:11] iaznab: ok, I"ll stand
[13:12] chris welsh: Plus three non-elected ad hoc members
[13:12] iaznab: any other topics on the agenda?
[13:12] bbredenkamp: matters arising
[13:12] chris welsh: The vote seems to be unanimous, so thank you Andre
[13:12] iaznab: I'd like to push on please
[13:12] bbredenkamp: gorden will chace some of the stalls
[13:12] chris welsh: Yes, final item is matters arising
[13:12] bbredenkamp: we need cahs
[13:12] bbredenkamp: cash
[13:13] chris welsh: I did not receive any items via mail, so does anyone have anything?
[13:12] svartrev: Just a question about the item "Entry into South African Closed by non-Cape Town or non-Gauteng players"... any progrss on that?
[13:12] bbredenkamp: there was items listed in the documents
[13:13] bbredenkamp: they count?
[13:13] bbredenkamp: were?
[13:13] chris welsh: Paul, what are you referring to?
[13:14] chris welsh: But in general, the progress is that the Winter League is their way in
[13:13] svartrev: In the 2015 AGM minutes, just above the transcript
[13:14] johnleuner: I think that's something to be followed up by the Tournaments portfolio
[13:14] francoisvn: IIUC, players can get entry via the online winter league, so it's mostly been resolved
[13:14] svartrev: was it merely a question about qualifying for the candidates?
[13:14] francoisvn: i believe so
[13:15] chris welsh: I think so, what else could it be?
[13:14] iaznab: winter league can give you entry
[13:15] iaznab: in addition, you can play in the gauteng or wcape tournaments
[13:15] svartrev: ok, cool, then we can mark that as resolved?
[13:15] chris welsh: I believe so
[13:15] iaznab: you just need to arrange
[13:15] chris welsh: In Andrew's absence we can't be sure
[13:16] chris welsh: John, I blieve you had a matter arising. Can you explain please?
[13:15] svartrev: right, of course... would just be nice to get that item closed
[13:16] johnleuner: I would like to propose that we close one of SAGA's investment accounts
[13:16] iaznab: I second that John
[13:16] iaznab: at least 1
[13:16] svartrev: Ok, so just to recap, how many do we have,a nd what are their current values?
[13:16] bbredenkamp: I say ays
[13:16] bbredenkamp: yay
[13:16] francoisvn: IIRC, it's the smaller one, of around 36k in value
[13:16] johnleuner: Our stanlib account has R38000, our ABSA has R95000
[13:17] bbredenkamp: where do we get the most interest
[13:17] chris welsh: Why do you want to close it?
[13:17] johnleuner: Because we are very low on cash we don't have enough money to replenish our stock or pay for other ongoing expenses (eg SA Closed airfares)
[13:18] chris welsh: What happened to our cash?
[13:17] johnleuner: So my reason for closing it is so that we have some working cash
[13:18] chris welsh: Why is it a problem now?
[13:18] iaznab: we have new stock afaik
[13:18] iaznab: and we have yearly expenses for the website and closed
[13:18] bbredenkamp: stock
[13:18] pauledwards: what type of account is the absa account
[13:18] iaznab: (not to mention the Soweto project)
[13:18] johnleuner: The reason we don't have cash is because we have been spending a lot on the Soweto project
[13:19] johnleuner: some of this was balanced by the interest earned on the investment accounts but the interest remains in those accounts, it's not available to us as cash
[13:19] francoisvn: I would guess you'd need to keep about 20k to keep an investment like that open, so closing it makes sense.
[13:19] gordon.wells: what's the current status of the Soweto club, are they active?
[13:19] iaznab: no Soweto is not active
[13:19] bbredenkamp: Well, we have a 4d
[13:19] johnleuner: I've been slow to respond to this, so I've been lending SAGA money to keep things going (by paying for stock purchases)
[13:19] iaznab: Welile is the only regular player in Soweto
[13:20] francoisvn: the Soweto project wasn't to directly rejuvenate the the Soweto club, but rather the school project, which is a whole other kettle of fish
[13:21] gordon.wells: I thought that had also gone quiet
[13:21] bbredenkamp: must be the see air
[13:21] chris welsh: Let's stay on topic
[13:21] francoisvn: Yeah, it's one in the same, just saying that the club isn't relevant
[13:21] johnleuner: The stanlib account is a "Global Equity Feeder Fund"
[13:21] chris welsh: Any other concerns about the closing of the account?
[13:21] johnleuner: The ABSA account is a "Money Market Fund"
[13:22] bbredenkamp: where are  we earning the most/
[13:22] svartrev: well, this sounds like a needed step short-term, but not a good one for us long-term.
[13:22] gordon.wells: The question is are we likely to face this situation again soon?
[13:22] bbredenkamp: ?
[13:23] chris welsh: We might, Gordon, but we will have to exercise more careful judgement about projects like the Soweto/Welile project
[13:22] bbredenkamp: jhon, how much do we need?
[13:23] gordon.wells: yup, I understood that basically ended Dec 2014
[13:23] johnleuner: 1) I don't know which earned more interest, we'll have to look at the growth over time
[13:23] bbredenkamp: if drop the lowest earner, we can stick more money into the other
[13:23] gordon.wells: so nothing was spent on that last year?
[13:23] johnleuner: 2) We aren't likely to face this situation in the near future if we don't have another big expense like the Soweto Schools Project
[13:23] chris welsh: To be honest, this sounds like a council matter rather than an AGM matter. I appreciate however that it has been a while since we had a council meeting.
[13:24] chris welsh: For which I apologize
[13:24] francoisvn: it's maybe worth mentioning that there are both direct and indirect costs to having multiple investment accounts open, so closing one and consolidating it makes sense
[13:24] bbredenkamp: now e know
[13:24] chris welsh: Council minutes are public knowledge, Ben :)
[13:24] chris welsh: Nothing secretive happens
[13:24] bbredenkamp: john, how mutch do we need?
[13:25] iaznab: ok
[13:25] iaznab: is there anyone who wants to vote against consolidating accounts?
[13:25] chris welsh: OK, do we have proposers/seconders?
[13:25] johnleuner: So we need enough to pay off the loan to me, plus an amount for restocking korean sets (about R10 000) plus SA Closed flights (up to R7000 or R8000)
[13:25] iaznab: I propose we let John consolidate however he deems fit
[13:25] johnleuner: So I would say at least R25000
[13:25] bbredenkamp: ok, I second it
[13:26] chris welsh: I second Andre's proposla
[13:26] chris welsh: Great, thanks
[13:25] bbredenkamp: yay
[13:26] chris welsh: Please vote
[13:25] iaznab: ok
[13:25] gordon.wells: yes
[13:25] johnleuner: Yes
[13:26] francoisvn: I propose/2nd/vote yes
[13:26] chris welsh: Going once
[13:26] Mai4ke1: Aye
[13:26] chris welsh: going twice
[13:26] svartrev: provided we make a smart decision on which one to close, I agree
[13:26] iaznab: ok
[13:27] chris welsh: Well, that's not the proposal under consideration
[13:26] iaznab: let's get round 2 of Candidates, Day 1, started!
[13:27] chris welsh: But I will consider it accepted
[13:27] chris welsh: Andre, just wait
[13:27] chris welsh: Are there any other matters arising?
[13:27] svartrev: the proposal is John decides which to close?
[13:27] svartrev: wait, sorry, yes, found the proposal line
[13:27] chris welsh: I propose we let John consolidate however he deems fit
[13:27] johnleuner: I'm planning to close the Stanlib account
[13:27] svartrev: so yes from me
[13:27] bbredenkamp: I think the terms was consolidate
[13:27] bbredenkamp: yes
[13:27] gordon.wells: just a reminder we need to submit reports for our NPO status by September (within 9 months of financial year)
[13:28] chris welsh: was the proposal
[13:28] chris welsh: OK, it seems there are no other matters arising
[13:28] chris welsh: I will call this AGM over
[13:28] svartrev: none from me
[13:28] chris welsh: thanks everyone for attending!
[13:28] svartrev: cool, thanks Chris
[13:28] gordon.wells: thanks all
[13:28] francoisvn: thanks
[13:28] johnleuner: thanks Chris