The Annual General Meeting is an important and legally required event for the club. This is the chance to discuss the past year, review our financial position and find out plans for the upcoming year. There are a number of standard motions that are required to be passed for the club to function, as well as any proposed changes to our club By-laws. So I personally want to thank all of the members who took the time to attend our AGM on September 20 at the National Yacht Club in person or virtually. With those in-person, online, and with a number of proxy votes we were able to reach the required quorum and therefore proceed with the meeting.
Just some highlights . . .
After two years of the pandemic, we are in very good shape financially, basically breaking even, due in part to cost containment, a shortened season, as well as windfall revenue from a couple of investments that came due this past year. For specific information, please read the AGM Report available on our website under About Us/Club Documents. You need to be logged into the site to access this file.
We were also able to pass a number of by-law changes regarding member meetings. The pandemic forced upon us the use of virtual meetings for our AGM and Election over the last two years. Now that things are opening up and we are able to resume in-person meetings, we wanted to update the By-laws to recognize the use of virtual or hybrid meetings and how voting during such meetings should be done. In addition, the definition of what constitutes quorum was made clearer; as well adding clarifications regarding the use of proxy votes.