BFS IOA – ANNUAL GENERAL MEETING - LETTER VOTE
Dear BFS member,
We are getting close to our 2006 AGM, and we hope you and your company will join us in Strasbourg and in our voting procedure. Typically all member companies are not present at our annual general meetings; therefore we as of last year introduced a new and hopefully more convenient way for all member companies to cast their vote, via proxy (letter vote). In this way, we can concentrate our meetings on the more interesting technical presentations and getting together and share experiences rather than using time on administrative matters. To get in a position to take decisions around the voting issues, we need to have most of our member companies active in the voting process. Please help us in that respect and send in the letter vote latest by March 25th.
The BFS IOA board will convene in the morning for a special AGM board meeting and summarise the results of the voting which will be communicated to the members right after lunch when we start the AGM.
No member motions have reached the board, so the voting this year concerns:
Voting on Accounts for 2005:
BFS IOA has in 2005 increased our profit to €19.459 compared to €-22.243 for 2004. In 2005, we have not had to make any write off for bad dept, i.e. unpaid membership invoices for past years, hence our income reflects only current members. There have been a slight drop in number of member (62 in 2005 vs. 67 in 2004) mainly as some non-active members have not chosen to continue their membership. Due to reduced income from members, board has focused on reducing meeting costs by having participants pay indirectly or directly for participating at meetings.
In auditors report for accounts for 2005, there have been made following comments that shall be noted:
1.) Auditor have commented that better documentation for travelling costs are needed
2.) Auditor have commented that some travelling invoices have been paid without adjustment in accordance to our current travel regulations
3.) Auditor have commented that travel costs for board have been paid to AGM 2005 in Barcelonaagainst our current travel regulations
Comments from board:
Board will ensure that better documentation is obtained in the future for all travel cost invoices and ensure that invoices are adjusted by 2 officers before payment.
Concerning travel compensation for the board to AGM in 2005, board was pressured by companies of the board members to ensure that travel costs were compensated to avoid that some companies would force to get officers in question to resign from their positions. Therefore and under these circumstances, the board decided to compensate travelling costs for all elected board members to the 2005 AGM in Barcelona. Further it was agreed to propose a revision of the current travel regulations for 2006 AGM in regard to travel compensation for elected board members.
- Auditors report to accounts for 2006
- Motion from board: Revised and updated travel regulations for BFS IOA
Voting on Budget for 2005:
Board hopes that number of members will slightly increase after implementing rule that only member companies can participate at meetings. 2006 membership fee been maintained at €1100 (approved at 2005 AGM). Board suggest that membership fee for 2007 will remain unchanged, providing that no major costs are changed to operate the association. Further, BFS IOA will continue to cover a larger part of the meeting costs by having members pay a conference fee and from sponsorships. To enable easy payment, BFS IOA can as 2005 accept payment by credit card – we hope by facilitating easy payment method, we can get faster payment, more members and easier cover meeting cost via conference fee. Meeting expenses in 2006 are expected to increase, due to agreed meeting locations and difficulties in getting sponsorships for meetings. Board budget for a positive result for 2006 of €3340.
Voting on Auditor:
Currently BFS IOA use Price Waterhouse Coopers office in Næstved, Denmarklocated close to MELITEK.
Board proposes that BFS IOA continue using Price Waterhouse Coopers office in Næstved, Denmark.
Voting on Board – Chairman and Officer of Operation:
Chairman is up for vote in 2006. Board has nominated Anders Löfgren (who has accepted) to continue for another 1 year - half the normal term - in hope that a possible successor can be found.
No other candidates have been nominated.
Officer of Operation is up for vote in 2006. Board has nominated Jesper Laursen(who has accepted) to continue for another 2 year term.
No other candidates have been nominated.
Voting on revised travel rules for BFS IOA:
Board have after input from members companies proposed travel rules of the association are changed in regard to travel compensation for board members. This change is necessary in order to get company support for officers to spend unpaid time on BFS IOA work. Board also hope that revised travel rules will make it easier to get nominations of new officers as travel costs for meetings will be compensated.
We look forward to getting your votes and see you at AGM in Strasbourg.
BFS IOA Board