Budgetary Resolutions


Presented to the 101st Annual General Meeting

F-1 Audited Finance Statements (E)

Sponsor: Board of Directors  | Disposition: Carried

Be it resolved that the 2020 AGM receive the audited financial statements for the fiscal year ending June 30, 2020.

Resolutions Sub-Committee Comments: No comment


F-2 Appointment of Auditors (E) 

Sponsor: Board of Directors | Disposition: Carried

Be it resolved that BDO Canada be appointed as auditors of PIPSC and its related entities, for the 2021-2022 fiscal year.

Resolutions Sub-Committee Comments: BDO Canada has been the PIPSC appointed auditors for four full fiscal year cycles.


F-3 Budget (E) 

Sponsor: Board of Directors  | Disposition: Carried

Resolutions Sub-Committee Comments: No comment


F-4 2020 Dues Refund (E) 

Sponsor: NR Group | Disposition: Withdrawn

Whereas PIPSC activities were significantly curtail during calendar year 2020 due to the COVID-19 pandemic;

Be it resolved that in March 2021 each PIPSC member (regular and retired) receive a 15% rebate of all dues paid to PIPSC in calendar year 2020.

Resolutions Sub-Committee Comment:

The direct costs associated with this resolution are as follows:

Cost per regular member: $72.56 x 15% x 12= $130.61

Cost per retired member $69.60 x 15% = $10.44 

Total cost for regular members: 63,864 x $130.61 = $8,341,277 

Total cost for retired members 2,621 x $10.44 = $27,363

Total direct costs: $8,341,277 + $27,363 = $8,368,640

The Institute does not have access to all members’ banking information and would therefore have to produce and mail close to 60,000 cheques. Based on an average cost of $17 to order and produce each cheque, the administrative costs associated with this task has been estimated at $1,020,000

These reimbursements could possibly be treated as taxable income to members, which would require the production and mailing of Tax Forms for all.

The Institute does not currently have the appropriate human resources to undertake such a large project. As a result, it is expected that PIPSC would hire additional casual staff to achieve these tasks.  The cost of this additional assistance is estimated at $65K.

If passed, this resolution would result in an incremental cost of approximately $9,453,640.


F-5 Funding of Strike Fund (E)

Sponsor: Ontario Regional Executive

Whereas, PIPSC has an $12.6 million Strike Fund as at June 30, 2020; and

Whereas, PIPSC had a $9.9 million surplus for the year ended June 20, 2020; and

Whereas, it reasonable to believe that PIPSC will have a substantial surplus for the year ended June 30, 2021 as a result of the reduction in meetings due to COVID; and

Whereas, PIPSC has $27.5 million of cash and investments at June 20 2020 and is in a position to put funds in the Strike Fund,

Be it resolved that the Institute make a one-time transfer of $4M into the Strike Fund in 2020.

Be it further resolved that the transfer of $4M into the Strike Fund would be a reduction of the $12,663,925 owed to it by the Operating Fund and not an additional levy.

Resolutions Sub-Committee Comments: The accounting for Strike Fund is already segregated as stated in the audited financial statements. Accordingly, the Institute performs annual transfers to the Strike fund based on the imputed interest earned on our reserves. Over the last 3 years, the following transfers have been performed:

2018: $407,000

2019: $494,000

2020: $653,000

The adoption of this resolution would be in breach of said accounting policy. 

Since the strike fund is externally restricted, the Institute cannot draw on this fund for any other expenditures but ones related to strike actions.