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ADOPTION OF MINUTES #004-01-17-11

http://archives.anglican.ca/en/permalink/official10584
Date
2017 November 10-12
Source
Council of General Synod. Minutes
Record Type
Resolution 01-17-11 [sic i.e. 01-11-17]
Date
2017 November 10-12
Source
Council of General Synod. Minutes
Record Type
Resolution 01-17-11 [sic i.e. 01-11-17]
Mover
Canon David P. Jones
Seconder
Ms. Susan Little
Text
That the minutes of the meeting of the Council of General Synod from July 23-25, 2017, Document #004-01-17-11, be approved.
ADOPTED #01-17-11 [sic i.e. 01-11-17]
Notes
Before the meeting, an amendment to the minutes was noted by a Council member and corrected. The online meeting docket was updated to include the amended minutes.
Subjects
Anglican Church of Canada. Council of General Synod - Minutes
Less detail

Anglican Church of Canada Consolidated Trust Fund Financial Statements

http://archives.anglican.ca/en/permalink/official10607
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 11-18-06 [sic i.e. 11-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 11-18-06 [sic i.e. 11-06-18]
Mover
Ms. Cynthia Haines-Turner
Seconder
Canon David P. Jones
Prologue
AUDITED FINANCIAL STATEMENTS #007-16-18-06 to 007-22-18-06
Chair of the Financial Management Committee (FMC), Mr. Robert Saffrey, and the Most. Rev. Colin Johnson, Chair of the Audit Committee, presented FMC’s report and the audited financial statements for The Anglican Church of Canada Resolution Corporation, The Anglican Church of Canada Consolidated Trust Fund, and the General Synod of The Anglican Church of Canada. Ms. Hanna Goschy, Treasurer and CFO, was on hand to address questions from Council. Highlights from the presentation included the following:
- Archbishop Johnson reviewed the process for the audited financial statements and reminded Council that they approved the appointment of Grant Thornton LLP as auditor for General Synod fiscal 2017 at their June 23-25, 2017 meeting (see document #004-01-17-11, page 12). FMC recommends reappointment of Grant Thornton LLP for General Synod fiscal 2018.
- The audited financial statements were reviewed in detail and Council had the opportunity to ask questions.
- The overall revenue for General Synod of The Anglican Church of Canada for 2017 was $11,938,059, which is a decrease of $449,487 from 2016. Overall expenses totaled $11,416,845, which is $1,245,961 less than 2016. The resulting surplus of core revenues over expenses was $521,214.
- The operating fund surplus (before transfers to reserves) is $1,519,736. While the total investment income was $998,523, realized and unrealized capital gains amounted to $729,057 and do not form part of the operating budget as they fluctuate from year to year based on financial market returns. The surplus was still $790,639 after factoring out these gains. Staff vacancies have been filled and as a result, it is expected that the 2018 actual expenditures will be in line with budget and it is not expected a significant surplus will be seen again in 2018.
- Proportional giving from dioceses was slightly higher than budgeted, but $70,000 lower than 2016. Council was reminded that proportional giving is the largest source of revenue for General Synod.
- The Investment Sub-Committee has reviewed investment performance, as well as the asset mix, ranges, and benchmark indices within the current Statement of Investment Policy. Overall performance for the year ended December 31, 2017 was 8.1% versus a benchmark of 7.2%.
Questions and comments were welcomed. Among the questions asked, Council members inquired about: how many dioceses are net contributors (twenty); whether the Anglican Fund for Healing and Reconciliation and the Ministry Investment Funds are part of the totals for internally designated net assets in the Consolidated Trust Fund (they are not); the difference between governance and administration (governance includes CoGS, boards, committees, councils, and Council of the North while administration includes salaries and benefits); and General Synod’s administrative cost (thirteen percent, a very low cost for not-for-profit organizations).
The following resolutions were placed before Council.
Refer to document # 007-18-18-06
Text
THAT the Council of General Synod approve the audited financial statements of The Anglican Church of Canada Consolidated Trust Fund for the fiscal year ending December 31, 2017.
ADOPTED #11-18-06 [sic i.e. 11-06-18]
Subjects
Anglican Church of Canada - Finance
Anglican Church of Canada. Consolidated Trust Fund
Less detail

Anglican Church of Canada Resolution Corporation Financial Statements

http://archives.anglican.ca/en/permalink/official10608
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 12-18-06 [sic i.e. 12-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 12-18-06 [sic i.e. 12-06-18]
Mover
Ms. Cynthia Haines-Turner
Seconder
Canon David P. Jones
Prologue
AUDITED FINANCIAL STATEMENTS #007-16-18-06 to 007-22-18-06
Chair of the Financial Management Committee (FMC), Mr. Robert Saffrey, and the Most. Rev. Colin Johnson, Chair of the Audit Committee, presented FMC’s report and the audited financial statements for The Anglican Church of Canada Resolution Corporation, The Anglican Church of Canada Consolidated Trust Fund, and the General Synod of The Anglican Church of Canada. Ms. Hanna Goschy, Treasurer and CFO, was on hand to address questions from Council. Highlights from the presentation included the following:
- Archbishop Johnson reviewed the process for the audited financial statements and reminded Council that they approved the appointment of Grant Thornton LLP as auditor for General Synod fiscal 2017 at their June 23-25, 2017 meeting (see document #004-01-17-11, page 12). FMC recommends reappointment of Grant Thornton LLP for General Synod fiscal 2018.
- The audited financial statements were reviewed in detail and Council had the opportunity to ask questions.
- The overall revenue for General Synod of The Anglican Church of Canada for 2017 was $11,938,059, which is a decrease of $449,487 from 2016. Overall expenses totaled $11,416,845, which is $1,245,961 less than 2016. The resulting surplus of core revenues over expenses was $521,214.
- The operating fund surplus (before transfers to reserves) is $1,519,736. While the total investment income was $998,523, realized and unrealized capital gains amounted to $729,057 and do not form part of the operating budget as they fluctuate from year to year based on financial market returns. The surplus was still $790,639 after factoring out these gains. Staff vacancies have been filled and as a result, it is expected that the 2018 actual expenditures will be in line with budget and it is not expected a significant surplus will be seen again in 2018.
- Proportional giving from dioceses was slightly higher than budgeted, but $70,000 lower than 2016. Council was reminded that proportional giving is the largest source of revenue for General Synod.
- The Investment Sub-Committee has reviewed investment performance, as well as the asset mix, ranges, and benchmark indices within the current Statement of Investment Policy. Overall performance for the year ended December 31, 2017 was 8.1% versus a benchmark of 7.2%.
Questions and comments were welcomed. Among the questions asked, Council members inquired about: how many dioceses are net contributors (twenty); whether the Anglican Fund for Healing and Reconciliation and the Ministry Investment Funds are part of the totals for internally designated net assets in the Consolidated Trust Fund (they are not); the difference between governance and administration (governance includes CoGS, boards, committees, councils, and Council of the North while administration includes salaries and benefits); and General Synod’s administrative cost (thirteen percent, a very low cost for not-for-profit organizations).
The following resolutions were placed before Council.
Refer to document # 007-19-18-06
Text
THAT the Council of General Synod approve the audited financial statements of The Anglican Church of Canada Resolution Corporation for the fiscal year ending December 31, 2017.
ADOPTED #12-18-06 [sic i.e. 12-06-18]
Subjects
Anglican Church of Canada - Finance
Anglican Church of Canada Resolution Corporation
Less detail

Appointment of Auditors

http://archives.anglican.ca/en/permalink/official10610
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 14-18-06 [sic i.e. 14-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 14-18-06 [sic i.e. 14-06-18]
Mover
Ms. Cynthia Haines-Turner
Seconder
Canon David P. Jones
Prologue
AUDITED FINANCIAL STATEMENTS #007-16-18-06 to 007-22-18-06
Chair of the Financial Management Committee (FMC), Mr. Robert Saffrey, and the Most. Rev. Colin Johnson, Chair of the Audit Committee, presented FMC’s report and the audited financial statements for The Anglican Church of Canada Resolution Corporation, The Anglican Church of Canada Consolidated Trust Fund, and the General Synod of The Anglican Church of Canada. Ms. Hanna Goschy, Treasurer and CFO, was on hand to address questions from Council. Highlights from the presentation included the following:
- Archbishop Johnson reviewed the process for the audited financial statements and reminded Council that they approved the appointment of Grant Thornton LLP as auditor for General Synod fiscal 2017 at their June 23-25, 2017 meeting (see document #004-01-17-11, page 12). FMC recommends reappointment of Grant Thornton LLP for General Synod fiscal 2018.
- The audited financial statements were reviewed in detail and Council had the opportunity to ask questions.
- The overall revenue for General Synod of The Anglican Church of Canada for 2017 was $11,938,059, which is a decrease of $449,487 from 2016. Overall expenses totaled $11,416,845, which is $1,245,961 less than 2016. The resulting surplus of core revenues over expenses was $521,214.
- The operating fund surplus (before transfers to reserves) is $1,519,736. While the total investment income was $998,523, realized and unrealized capital gains amounted to $729,057 and do not form part of the operating budget as they fluctuate from year to year based on financial market returns. The surplus was still $790,639 after factoring out these gains. Staff vacancies have been filled and as a result, it is expected that the 2018 actual expenditures will be in line with budget and it is not expected a significant surplus will be seen again in 2018.
- Proportional giving from dioceses was slightly higher than budgeted, but $70,000 lower than 2016. Council was reminded that proportional giving is the largest source of revenue for General Synod.
- The Investment Sub-Committee has reviewed investment performance, as well as the asset mix, ranges, and benchmark indices within the current Statement of Investment Policy. Overall performance for the year ended December 31, 2017 was 8.1% versus a benchmark of 7.2%.
Questions and comments were welcomed. Among the questions asked, Council members inquired about: how many dioceses are net contributors (twenty); whether the Anglican Fund for Healing and Reconciliation and the Ministry Investment Funds are part of the totals for internally designated net assets in the Consolidated Trust Fund (they are not); the difference between governance and administration (governance includes CoGS, boards, committees, councils, and Council of the North while administration includes salaries and benefits); and General Synod’s administrative cost (thirteen percent, a very low cost for not-for-profit organizations).
The following resolutions were placed before Council.
Refer to document # 007-22-18-06
Text
THAT the Council of General Synod approve the appointment of Grant Thornton LLP as auditor for General Synod for fiscal 2018, at a fee determined by the Audit Committee.
ADOPTED #14-18-06 [sic i.e. 14-06-18]
Subjects
Anglican Church of Canada - Auditing
Less detail

Changes to the Statement of Investment Policy

http://archives.anglican.ca/en/permalink/official10609
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 13-18-06 [sic i.e. 13-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 13-18-06 [sic i.e. 13-06-18]
Mover
Ms. Cynthia Haines-Turner
Seconder
Canon David P. Jones
Prologue
AUDITED FINANCIAL STATEMENTS #007-16-18-06 to 007-22-18-06
Chair of the Financial Management Committee (FMC), Mr. Robert Saffrey, and the Most. Rev. Colin Johnson, Chair of the Audit Committee, presented FMC’s report and the audited financial statements for The Anglican Church of Canada Resolution Corporation, The Anglican Church of Canada Consolidated Trust Fund, and the General Synod of The Anglican Church of Canada. Ms. Hanna Goschy, Treasurer and CFO, was on hand to address questions from Council. Highlights from the presentation included the following:
- Archbishop Johnson reviewed the process for the audited financial statements and reminded Council that they approved the appointment of Grant Thornton LLP as auditor for General Synod fiscal 2017 at their June 23-25, 2017 meeting (see document #004-01-17-11, page 12). FMC recommends reappointment of Grant Thornton LLP for General Synod fiscal 2018.
- The audited financial statements were reviewed in detail and Council had the opportunity to ask questions.
- The overall revenue for General Synod of The Anglican Church of Canada for 2017 was $11,938,059, which is a decrease of $449,487 from 2016. Overall expenses totaled $11,416,845, which is $1,245,961 less than 2016. The resulting surplus of core revenues over expenses was $521,214.
- The operating fund surplus (before transfers to reserves) is $1,519,736. While the total investment income was $998,523, realized and unrealized capital gains amounted to $729,057 and do not form part of the operating budget as they fluctuate from year to year based on financial market returns. The surplus was still $790,639 after factoring out these gains. Staff vacancies have been filled and as a result, it is expected that the 2018 actual expenditures will be in line with budget and it is not expected a significant surplus will be seen again in 2018.
- Proportional giving from dioceses was slightly higher than budgeted, but $70,000 lower than 2016. Council was reminded that proportional giving is the largest source of revenue for General Synod.
- The Investment Sub-Committee has reviewed investment performance, as well as the asset mix, ranges, and benchmark indices within the current Statement of Investment Policy. Overall performance for the year ended December 31, 2017 was 8.1% versus a benchmark of 7.2%.
Questions and comments were welcomed. Among the questions asked, Council members inquired about: how many dioceses are net contributors (twenty); whether the Anglican Fund for Healing and Reconciliation and the Ministry Investment Funds are part of the totals for internally designated net assets in the Consolidated Trust Fund (they are not); the difference between governance and administration (governance includes CoGS, boards, committees, councils, and Council of the North while administration includes salaries and benefits); and General Synod’s administrative cost (thirteen percent, a very low cost for not-for-profit organizations).
The following resolutions were placed before Council.
Refer to document # 007-22-18-06
Text
THAT the Council of General Synod approve the changes to the Statement of Investment Policy as recommended by the Investment Committee and Financial Management Committee.
ADOPTED #13-18-06 [sic i.e. 13-06-18]
Subjects
Investments - Moral and ethical aspects
Investments - Religious aspects - Anglican Church of Canada
Corporate social responsibility - Anglican Church of Canada
Less detail

General Synod of The Anglican Church of Canada Financial Statements

http://archives.anglican.ca/en/permalink/official10606
Date
2018 June 1-3
Source
Council of General Synod Minutes
Record Type
Resolution 10-18-06 [sic i.e. 10-06-18]
Date
2018 June 1-3
Source
Council of General Synod Minutes
Record Type
Resolution 10-18-06 [sic i.e. 10-06-18]
Mover
Ms. Cynthia Haines-Turner
Seconder
Canon David P. Jones
Prologue
AUDITED FINANCIAL STATEMENTS #007-16-18-06 to 007-22-18-06
Chair of the Financial Management Committee (FMC), Mr. Robert Saffrey, and the Most. Rev. Colin Johnson, Chair of the Audit Committee, presented FMC’s report and the audited financial statements for The Anglican Church of Canada Resolution Corporation, The Anglican Church of Canada Consolidated Trust Fund, and the General Synod of The Anglican Church of Canada. Ms. Hanna Goschy, Treasurer and CFO, was on hand to address questions from Council. Highlights from the presentation included the following:
- Archbishop Johnson reviewed the process for the audited financial statements and reminded Council that they approved the appointment of Grant Thornton LLP as auditor for General Synod fiscal 2017 at their June 23-25, 2017 meeting (see document #004-01-17-11, page 12). FMC recommends reappointment of Grant Thornton LLP for General Synod fiscal 2018.
- The audited financial statements were reviewed in detail and Council had the opportunity to ask questions.
- The overall revenue for General Synod of The Anglican Church of Canada for 2017 was $11,938,059, which is a decrease of $449,487 from 2016. Overall expenses totaled $11,416,845, which is $1,245,961 less than 2016. The resulting surplus of core revenues over expenses was $521,214.
- The operating fund surplus (before transfers to reserves) is $1,519,736. While the total investment income was $998,523, realized and unrealized capital gains amounted to $729,057 and do not form part of the operating budget as they fluctuate from year to year based on financial market returns. The surplus was still $790,639 after factoring out these gains. Staff vacancies have been filled and as a result, it is expected that the 2018 actual expenditures will be in line with budget and it is not expected a significant surplus will be seen again in 2018.
- Proportional giving from dioceses was slightly higher than budgeted, but $70,000 lower than 2016. Council was reminded that proportional giving is the largest source of revenue for General Synod.
- The Investment Sub-Committee has reviewed investment performance, as well as the asset mix, ranges, and benchmark indices within the current Statement of Investment Policy. Overall performance for the year ended December 31, 2017 was 8.1% versus a benchmark of 7.2%.
Questions and comments were welcomed. Among the questions asked, Council members inquired about: how many dioceses are net contributors (twenty); whether the Anglican Fund for Healing and Reconciliation and the Ministry Investment Funds are part of the totals for internally designated net assets in the Consolidated Trust Fund (they are not); the difference between governance and administration (governance includes CoGS, boards, committees, councils, and Council of the North while administration includes salaries and benefits); and General Synod’s administrative cost (thirteen percent, a very low cost for not-for-profit organizations).
The following resolutions were placed before Council.
Refer to document # 007-17-18-06
Text
THAT the Council of General Synod approve the audited financial statements of the General Synod of The Anglican Church of Canada for the fiscal year ending December 31, 2017.
ADOPTED #10-18-06 [sic i.e. 10-06-18]
Subjects
Anglican Church of Canada - Finance
Budget - Anglican Church of Canada
Proportional giving
Less detail

MOTION TO ADJOURN CoGS

http://archives.anglican.ca/en/permalink/official10590
Date
2017 November 10-12
Source
Council of General Synod. Minutes
Record Type
Resolution 07-17-11 [sic i.e. 07-11-17]
Date
2017 November 10-12
Source
Council of General Synod. Minutes
Record Type
Resolution 07-17-11 [sic i.e. 07-11-17]
Mover
Canon David P. Jones
Seconder
The Rev. Clara Plamondon
Prologue
Council adjourned in order to convene as the Missionary Society of The Anglican Church of Canada (MSCC).
Text
That Council of General Synod adjourn in order to meet as the Missionary Society of The Anglican Church of Canada.
CARRIED #07-17-11 [sic i.e. 07-11-17]
Notes
See Appendix C for minutes from the MSCC Meeting.
[Page 28]
Appendix C
MEETING OF THE BOARD OF MANAGEMENT OF THE MISSIONARY SOCIETY OF THE ANGLICAN CHURCH OF CANADA
Queen of Apostles Renewal Centre, Mississauga, ON
November 11, 2017
PRESENT
The Members of the Council of General Synod as elected or appointed under the provisions of the Constitution of General Synod.
- President and Chair of the Board of Directors – The Most Rev. Fred Hiltz
- Secretary – The Ven. Dr. Michael Thompson
- Treasurer – Ms. Hanna Goschy
The Chancellor, Canon David P. Jones, advised that the Missionary Society of The Anglican Church of Canada (MSCC) is a separate legal entity of General Synod. It is composed of all members of General Synod and has a Board of Directors that includes the Council of General Synod (CoGS) and the Officers of the MSCC. The Officers include the Primate as President, the General Secretary, and the Treasurer of General Synod. Canon Jones explained the function of the MSCC.
The Treasurer, Ms. Hanna Goschy, noted that the Board of Directors received four documents with the CoGS docket:
- MSCC Financials 2016 (037-01-17-11)
- MSCC Definitions (037-02-17-11)
- MSCC History (037-03-17-11)
- MSCC Car Loan Application (037-04-17-11)
Ms. Goschy presented the 2016 financial statements. She noted that while the MSCC is a separate entity, the financial results are consolidated with the financial results of General Synod. The MSCC’s assets, liabilities, and net assets as of December 31, 2016 were reviewed. Regarding liabilities, Ms. Goschy noted that she will undertake a review of the terms for bequests received many years ago that are earmarked for ministries that no longer exist. This review will help to determine how the MSCC can disperse the funds.
The Board of Directors also learned that Ms. Goschy received a request from the Council of the North (CON) to review the MSCC’s car loan policy in order to make the loans more easily accessible to clergy. The Financial Management Committee (FMC) included the request in their report to CoGS (007-04-17-11). The current policy on car loans requires a lien be placed on the vehicle and that the MSCC gets first call on the asset. This is problematic because many of the individuals who need to access the loans also need to access conventional loans through banks. FMC discussed CON’s request at their meeting and have submitted to the Board of Directors a revised car loan application and a motion for resolution.
Approval of 2016 Financial Statements
Moved by: Canon David P. Jones
Seconded by: Ms. Katie Puxley
That the Board of Management approve the Financial Statements of the Missionary Society of The Anglican Church of Canada for the fiscal year ended December 31, 2016 and that any two Officers are authorized to sign the statements on the Board’s behalf.
CARRIED #MSCC 01-17-11
Revision of MSCC Car Loan Application
Seconded by: Ms. Susan Little
That the Board of Management of the Missionary Society of The Anglican Church of Canada approve the following changes to the Car Loan Application:
- Change reference to “clergyman” to “cleric”;
- Increase the maximum loans to $16,000;
- Increase the period of repayment to 48 months; and
- Remove the requirements for a borrower’s lien note.
CARRIED #MSCC 02-17-11
Motion to Terminate
Seconded by: Canon Dr. Randall Fairey
That the meeting of the Board of Management of the Missionary Society of The Anglican Church of Canada be terminated.
CARRIED #MSCC 03-17-11
Subjects
Missionary Society of the Anglican Church of Canada (M.S.C.C.) - Meetings
Missionary Society of the Anglican Church of Canada (M.S.C.C.) - Finance
Car loans - Religious aspects - Anglican Church of Canada
Less detail

MOTION TO ADJOURN CoGS

http://archives.anglican.ca/en/permalink/official10604
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 08-18-06 [sic i.e. 08-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 08-18-06 [sic i.e. 08-06-18]
Mover
Canon David P. Jones
Seconder
Ms. Cynthia Haines-Turner
Prologue
Council adjourned in order to convene as the Missionary Society of The Anglican Church of Canada (MSCC).
Text
That Council of General Synod adjourn in order to meet as the Missionary Society of The Anglican Church of Canada.
CARRIED #08-18-06 [sic i.e. 08-06-18]
Notes
See Appendix E for the minutes from the MSCC meeting.
Council re-convened as the Council of General Synod.
[Page 30]
Appendix E
MEETING OF THE BOARD OF MANAGEMENT OF THE MISSIONARY SOCIETY OF THE ANGLICAN CHURCH OF CANADA
Queen of Apostles Renewal Centre, Mississauga, ON
June 1, 2018
PRESENT
The Members of the Council of General Synod as elected or appointed under the provisions of the Constitution of General Synod.
The Officers of the Society:
- President and Chair of the Board of Directors – The Most Rev. Fred Hiltz
- Secretary – The Ven. Dr. Michael Thompson
- Treasurer – Ms. Hanna Goschy
The Chancellor, Canon David P. Jones, advised that the Missionary Society of The Anglican Church of Canada (MSCC) is a separate legal entity of General Synod. It is composed of all members of General Synod and has a Board of Directors that includes the Council of General Synod (CoGS) and the Officers of the MSCC. The Officers include the Primate as President, the General Secretary, and the Treasurer of General Synod. Canon Jones explained the function of the MSCC.
The Treasurer, Ms. Hanna Goschy, noted that the Board of Directors received four documents with the CoGS docket:
- MSCC 2017 Financial Statements (037-05-18-06)
- MSCC Definitions (037-06-18-06)
- MSCC History (037-07-18-06)
Ms. Goschy presented the financial statements for 2017, noting the audited financial statements for General Synod and the MSCC are consolidated. She reminded members that the statements of the MSCC are not audited and need to be filed with Canada Revenue Agency (CRA). The MSCC’s assets, liabilities, and net assets as of December 31, 2017 were reviewed.
Approval of Financial Statements
Moved by: Canon David P. Jones
Seconded by: The Rev. Canon Robert Towler
Be it resolved:
That the Board of Management approves the Financial Statements of the Missionary Society of The Anglican Church of Canada for the fiscal year ended December 31, 2017 and that any two Officers are authorized to sign the statements on the Board’s behalf.
CARRIED #MSCC 001-18-06
Motion to Terminate
Seconded by: Mr. Jason Antonio
That the meeting of the Board of Management of the Missionary Society of The Anglican Church of Canada be terminated.
CARRIED #MSCC 002-18-06
Subjects
Missionary Society of the Anglican Church of Canada (M.S.C.C.) - Meetings
Missionary Society of the Anglican Church of Canada (M.S.C.C.) - Finance
Less detail

PENSION COMMITTEE #010-04-18-06 : General Synod Benefit Plans Administration and Expenses Regulation

http://archives.anglican.ca/en/permalink/official10600
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 04-18-06 [sic i.e. 04-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 04-18-06 [sic i.e. 04-06-18]
Mover
Canon David P. Jones
Seconder
Ms. Cynthia Haines-Turner
Prologue
Mr. Bob Boeckner, also a member of the Pension Committee, presented the report and resolutions from the Pension Committee. Council adopted the resolutions. Ms. Judy Robinson, Executive Director of the Pension Office Corporation, was on hand to address questions from Council.
Text
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee to make the following amendments to Regulations 1 and 2 of General Synod Benefit Plans Administration and Expenses Regulation made pursuant to Section 4 of Canon VIII effective January 1, 2018.
ADOPTED #04-18-06 [sic i.e. 04-06-18]
Notes
See Appendix B for resolution details.
[Page 26]
Appendix B
REPORT OF THE PENSION COMMITTEE (010-04-18-06)
RESOLUTION FOR GENERAL SYNOD BENEFIT PLANS ADMINISTRATION AND EXPENSES REGULATION
Moved by: Canon David P. Jones
Seconded by: Ms. Cynthia Haines-Turner
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee to make the following amendments to Regulations 1 and 2 of General Synod Benefit Plans Administration and Expenses Regulation made pursuant to Section 4 of Canon VIII effective January 1, 2018.
(Bold indicates addition, Strikethrough indicates deletion) [In electronic database, "bolded" text is indicated by > brackets and "strikeout" text is indicated by {} brackets.]
Rationale: To include penalties under Expenses
Regulation 1(3) be renumbered 1(4) and a new Regulation 1(3) be added as follows: 1 (3) “Expense” means any cost incurred in the administration and/or investment of the Benefit Plans, including but not limited to administration of benefits, investment management, service providers (e.g., custodian, auditor, actuary, lawyer, consultant etc.), and any regulatory fines or penalties levied against the Board of Trustees. Regulation 2 (1) be amended as follows:
Regulation 1(3) be renumbered 1(4) and a new Regulation 1(3) be added as follows:
1 (3)
Regulation 2 (1) be amended as follows:
2 (1) The purpose of this regulation is to impose the obligation on all Participating Employers to pay all expenses in respect of the Benefit Plans to the extent that the expenses are not paid from the assets of the applicable Benefit Plan.
Subjects
Pensions - Anglican Church of Canada - Regulations
Less detail

PENSION COMMITTEE #010-04-18-06 : Regulations of Canon XII – Continuing Education Plan

http://archives.anglican.ca/en/permalink/official10601
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 05-18-06 [sic i.e. 05-06-18]
Date
2018 June 1-3
Source
Council of General Synod. Minutes
Record Type
Resolution 05-18-06 [sic i.e. 05-06-18]
Mover
Canon David P. Jones
Seconder
Ms. Cynthia Haines-Turner
Prologue
Mr. Bob Boeckner, also a member of the Pension Committee, presented the report and resolutions from the Pension Committee. Council adopted the resolutions. Ms. Judy Robinson, Executive Director of the Pension Office Corporation, was on hand to address questions from Council.
Text
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee to a 3 year plan to double the CEP contribution to $900 per year beginning at:
- $600 (effective January 1, 2019)
- $750 (effective January 1, 2020)
- $900 (effective January 1, 2021)
and also make the following amendment to Regulation 1 of the Regulations of Canon XII effective January 1, 2019, January 1, 2020 and January 1, 2021 respectively.
ADOPTED #05-18-06 [sic i.e. 05-06-18]
Notes
See Appendix C for resolution details.
[Page 27]
REPORT OF THE PENSION COMMITTEE (010-04-18-06)
RESOLUTION FOR REGULATIONS OF CANON XII – CONTINUING EDUCATION PLAN
Moved by: Canon David P. Jones
Seconded by: Ms. Cynthia Haines-Turner
Be it resolved that The Council of General Synod approves the recommendation of the Pension Committee to a 3 year plan to double the CEP contribution to $900 per year beginning at:
- $600 (effective January 1, 2019)
- $750 (effective January 1, 2020)
- $900 (effective January 1, 2021)
and also make the following amendment to Regulation 1 of the Regulations of Canon XII effective January 1, 2019, January 1, 2020 and January 1, 2021 respectively.
(Bold indicates addition, Strikethrough indicates deletion) [In electronic database, "bolded" text is indicated by > brackets and "strikeout" text is indicated by {} brackets.]
Rationale: $450 is inadequate to the task of supporting “lifelong learners” among its clergy.
1. Assessments
- a) The assessments to sustain the fund shall be {$450} (effective January 1, 2019) (effective January 1, 2020) (effective January 1, 2021) per year from each member in respect of each of the Member’s account holders.
Subjects
Continuing education - Anglican Church of Canada
Anglican Church of Canada. General Synod. Constitution. Canon XII
Less detail

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