2008 Annual Report – Secretary-Treasurer

February 04, 2014

2008 Annual Report of 
National Secretary Treasurer
Peggy Roche

The national executive continued to work as part of a team, growing together to build on the strong foundation laid by predecessors to ensure the sustainability of the League for future generations. As good stewards, it continued to prudently manage administration costs, implement restraints where needed while at the same time, and ensure that the highest level of service, programs, and projects were provided to members.

In many provinces members were serving the League in dual capacities, some as recording and correspondence secretary, while others are secretary and treasurer. In their reports, provincial secretaries referenced the National Manual of Policy and Procedure and the Handbook for Secretaries, encouraging their counterparts at other levels to do the same. Tips were offered about websites that may be helpful to secretaries. Motions books are maintained and updated. Agendas, minutes, correspondence and to do lists were compiled, distributed and filed and copies were forwarded to the past president for archiving.

Over the year communiqués were drafted and notice of meetings were sent. Correspondence that was received and sent was posted on the Web site and minutes of all meetings were reviewed by a minutes review committee. As well, oral and written reports were presented at meetings. Month end reports were reviewed and discussed when needed.

From the figures compiled, an amount of $3,974,688 was donated by members at home as well as to the global community. This was a great accomplishment especially with the economy in a downward spiral. It was heart warming to see members generously continue to financially support and sustain other groups and individuals, some of whom may not be able to exist without their continued support. What a positive impact League contributions have on so many lives! When members help others, they in turn are being helped.

Included in the figure mentioned above is $484,205, which was directly donated to the wonderful organizations that are designated by national voluntary funds. In conversation with some of the provincial treasurers, I am aware that there are probably many other donations that should have been counted in, but because reports were not received by the provinces from their counterparts, these amounts are not known and could not be compiled.

Members generously supported national voluntary funds through the national office in the amount of $219,752, and broken down as follows:
Catholic Missions In Canada Program $ 29,492
Coady International Institute Program $ 31,492
Canadian Catholic Organization for Development and Peace 1% Program $ 82,325
MaterCare International Program $ 40,515
Pro-Life Program $ 12,945
World Union of Catholic Women’s Organizations (WUCWO) $ 10,542
49th International Eucharistic Congress $ 12,441

Under the leadership of national presidents Lorette Noble and Danielle McNeil-Hessian and with the assistance of Executive Director Kim Scammell CA, the finance committee and financial advisors, the national executive continued to use its short and long term plans as a guide, exploring and implementing solid strategies to help meet financial goals.

Projections were made factoring in current revenues and the financial challenges the League faced such as the decline of memberships, increased costs, the downward trend of the economy, as well as, losses on investments. This provided a view of the future financial picture of the League in a particular time frame, and gave an opportunity to formulate plans in a timely fashion that will deal with any challenges arising.

The finance committee reviewed the Canadian Conference of Catholic Bishops General Fund Investment Policy paying special attention to Section 3.1.7 Socially Responsible Investment restrictions. The League has a Financial Management and Investment Policy in place already, however, it is always good to review policies and compare them to others to ensure that everything possible is being done as good stewards.

At the fall national administration committee meeting, the committee met with the League’s investment advisor. She distributed copies of the investment portfolio and gave a background on the investment philosophy regarding s ocially responsible investments. It also met with the auditors from Chambers, Fraser and Co. Many questions were asked, and both the auditors and investment advisor reassured us that the League is in good shape financially. They appreciated that Kim Scammell had a keen grasp on finances and investments.

The 2008 audited financial statements of The Catholic Women’s League of Canada follow my report. The Balance Sheet reflects the strength of the League’s asset position, despite the losses in investments from the global financial crisis. League’s investments lost only four percent of their value, a remarkable feat in the current economic times and due to having a properly diversified and well-managed portfolio.

Even though the global economy was in a downward spiral and most felt the negative effects both financially and emotionally, I an very proud of the fact that members always find it in their hearts to come forward and generously help others, financially and with great acts of charity. Congratulations! You really Love One Another!