2011 Annual Report – Secretary-Treasurer
2011 Annual Report
The annual report covers the period from January 1 to December 31, 2011. This report concludes my two-year term as secretary-treasurer and I feel like I have just begun. The national secretary treasurer is a signing officer for all official documents of the League. The duties are listed in the How We Serve… and the Executive Handbook.
The national executive met in February, at the pre and post-convention meetings in August and in October. The finance committee met in October to review, evaluate and prepare the 2012 budget for final presentation to the national executive. At this meeting the national investment reports from CIBC Wood Gundy remained cautious, but there was reason for some near-term and longer term optimism. The report stated interest rates were expected to remain low in Canada and the United States throughout 2012 and 2013 due to the volatile market situation in Europe. There was still value in the bond portfolio and the equity market was fairly priced.
Investments as of December 31, 2011 were $1,586,068 compared to December 31, 2010 at $1,706,336, a decrease of $120,268. The value of the investments decreased due to the $350,000 cash draw made in 2009 and 2010 to cover the operating deficit.
The 2011 audited financial statements of The Catholic Women’s League of Canada follow this report. The balance sheet reflected the strength of the League’s asset position. In 2011 the budgeted deficit was $169,460 and the deficit on December 31st was $177,264. This was an increase in deficit of $7,803.
I received the monthly unaudited financial statement and monitored the financial activity in terms of budget allocations and made recommendations to the national executive when necessary. Monthly and annual financial statements were studied, auditor’s recommendations considered and the finance committee advised on implementing recommendations. All major decisions were referred to the national executive with complete background information and recommendations to facilitate sound decision-making.
The finance committee and the national executive worked as a team to be responsible stewards of the League’s finances and to ensure its financial stability well into the future for the benefit of members. Each area of financial activity was scrutinized and closely monitored each month. The cheque registry was reviewed monthly with receipts being provided for all expenses. Each receipt was double and triple checked for accuracy.
Treasurers from across the country reported following Guidelines for Treasurers obtained on-line or ordered through the national office.
The following is a breakdown of the national voluntary funds received:
Catholic Missions In Canada $30,309
Coady International Institute Program $32,204
Canadian Catholic Organization for
Development and Peace 1% Program $76,879
MaterCare International $32,194
Pro-Life Program $12,336
World Union of Catholic Women’s Organizations $9,552
Members faithfully donated to parish, community, provincial, national and international charities showing their commitment to fulfilling the League’s mission. In addition to the donations to national voluntary funds, provincial treasurers reported donations of $3,844,595 which would only be a portion of the donations as some are sent directly to charities and not all were reported. Members were a shining example of living out the theme Centred on Faith & Justice.
Several provincial councils reported combining the duties of recording and corresponding secretaries or secretary and treasurer. Secretaries performed duties as described under Section 4 of the Constitution & Bylaws and the Handbook for Secretaries available at national office or on-line. Secretaries assisted in preparing agendas, recorded and distributed minutes, sent out communiqués, notice of meetings, invitations to conventions and newsletters.