An Update from AAPS Regarding the Reserve Fund Surplus

 

Dear AAPS Members,

As discussed at the 2015 Spring General Meeting and 2015 Fall AGM, the issue of the Association’s excess reserve was investigated, reported, and presented to you, as a web link, for feedback and suggestions on how the excess may be spent down.  Responses were required by November 30, 2015.

Thank you for taking the time to think about and report your suggestions.  565 members suggested 851 possibilities, many the same, for using the excess reserve.  The suggestions were compiled in a report and ranged from direct member refunds to increasing professional development opportunities to funding charitable causes as well as other interesting ideas.

AAPS’ Finance Committee reviewed the report and made its recommendation to the Board.  The recommendation was to implement dues holidays for five months, January – June 2016; March 2016 had already been budgeted as a dues holiday month.  The Committee felt that this gave the best combination of direct member benefit and minimal administrative overhead, both recurring themes in the feedback and suggestions.

The Finance Committee recommendation was presented to the Board which reached consensus that this would be the approved method of reducing the excess.

There will be no dues collected for the months of January 2016 through June 2016.  There will continue to be a small excess at the end of June, but as this is the Association’s fiscal year-end, further review and action can be taken at that time as warranted.  The dues holidays will favourably coincide with the resumption of CPP and EI withholding as well as MSP and other expense increases.

If you have any questions or concerns, please contact the AAPS Office or any Board member.

 

Sincerely,


Paul de Leon, Treasurer

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Association of Administrative and Professional Staff of The University of British Columbia
Tef III Bulding, 208-6190 Agronomy Road, Vancouver BC, V6T 1Z3
 604 822 9025  aaps.office@ubc.ca   www.aaps.ubc.ca