SaultAreaHospitalFoundation
Executive Committee Meeting Minutes
Tuesday, October 26, 2010, Room C114 1200 hours
Attending:
Robert Prouse, Chair
Ron Gagnon
Gus Palombi
Gabe Stefanizzi
Staff:
Cheryl Pavoni
Melissa Watson
Regrets:
Norm Sauve
Emily Thibeault
- Call to Order
The meeting was called to order at 1225 hours
- Approval of Minutes
2.1Approval of Minutes – April 27, 2010*
MOTION:THAT the minutes of the meeting held April 27, 2010 be approved as presented.
Moved by:Gus Palombi
Seconded by:Gabe StefanizziCARRIED.
2.2Approval of Minutes – June 22, 2010*
MOTION:THAT the minutes of the meeting held June 22, 2010 be approved as presented.
Moved by:Gabe Stefanizzi
Seconded by:Gus PalombiCARRIED.
2.3Approval of Minutes – September 14, 2010*
MOTION:THAT the minutes of the meeting held September 14, 2010 be approved as presented.
Moved by:Ron Gagnon
Seconded by:Gabe StefanizziCARRIED.
3Matters Requiring Decision/Action
3.3Briefing Note from Hospital re: Clinical Documentation Repayment Schedule*
The submission from the hospital included the loan interest. The motion from the past meetings indicated that the Foundation would like to fund the project excluding the interest costs.
Some questions arose from the committee members to be provided at the next meeting, in order to move forward on payment for this project. They would like the hospital to prepare a schedule of payments based on the recommendation from the September 14, 2010 Executive Meeting to provide a yearly payment and also look at the recommendation to provide an upfront payment of $1.1 million and $140,000 per year over 10 years.
The committee also would like to know if the $2.5 million for the project is a separate loan facility and if the project is on budget and what has been spent to date.
3.2Briefing Note from Hospital re: Foundation’s 3 Properties*
The Foundation properties used by the hospital for Detox and Sexual Assault Care Centre will continue to be used for these services. The Laundry building will not be used. We will look at selling the property and hope to eliminate any of the carrying costs.
Action:
For the next meeting, hospital to provide the following: vacancy date and the date the Foundation could transfer possession, the plan to remove the equipment and if the Foundation could market the building as a laundry facility.
4Matters Requiring Discussion/Input
4.3CRA Fundraising Guidance - Fundraising ratio of cost to revenue* (see slides 14, 15 & 16)
Cheryl provided some documents for information purposes only on the CRA Fundraising Guidance sheets to show the way Canada Revenue Agency calculates the cost per dollar raised. There is no clear cut formula for calculation of fundraising expenditures and administrative costs. Based on the T3010B for 2010 the Foundation’s cost per dollar raised is at 14% which is well below their threshold.
Cheryl Pavoni indicated that some parameters for an acceptable cost per dollar raised would be beneficial. Gus Palombi commented that in his opinion he would like to see the Foundation generate as much revenue as possible so expenses are less of an issue and the maximum amount of money can be given to the hospital for equipment.
4.4The Star Article – Charity Boss Hires Own Firm to Fundraise* (see slide 24)
Ron had asked Cheryl to include this article to our Foundation Board members. The question this article proposes is should a blanket policy be put in place to address the issue ofsole source contracts. Currently the Foundation Board approves any sole source contract. This will be brought forward to the next Executive Committee meeting.
Ron Gagnon suggested that Cheryl ask for the hospital’s Conflict of Interest Policy and Logistics for the Sole Source Policy.
4.5Action Items – review format*
A request was made at the last Foundation Board meeting to provide a list of action items and the status. Cheryl provided a copy of the new list and will continue to provide at each meeting.
4.6New Hospital Project Update
The substantial completion event was a major milestone. The next steps includeorientation and training for the staff.
5Information Items
5.3Unaudited Financial Statements – as at September 30, 2010*
5.4RBC Dominion Securities Statements – as at September 30, 2010*
6Next Meeting DateJanuary 11, 2011
1200 hours - room C114
7Termination
There being no further business to discuss, the meeting was terminated at 1305 hours.
______Robert Prouse, Chair