To CFUW Ontario Council Club Presidents and Treasurers,

Attached are the proposed budget for 2014 - 2015 and proposed budget details which will be discussed in detail at the Ontario Council AGM on May 10th.  They are being sent to you ahead of time so you may review it prior to the AGM.  They will be part of the AGM booklet which you will receive upon registration.

The budget details provide more information about each line item in the budget.  It is a deficit budget designed to encourage spending.  The only way to access the money in the bank is to show spending.  Ontario Council is very sound financially.  The budget addresses income from membership dues and expenses.  Cash in the bank and monies invested in GICs are shown in the accountant's financial statements which will be part of the AGM booklet.

New initiatives have been introduced under Club Support:  a new project grant, a new category for travel subsidy to OC standing committee meetings and a new category for AGM small club support.

At the AGM I will be addressing each line item in the budget and there will be ample time for questions after the presentation.

Sincerely,

Helen Sami

Treasurer, Ontario Council

helensami@hotmail.com

905 815 9643