This year the Annual General Assembly of Members was held at the Toronto Broadcast Centre in the heart of Ontario’s capital. More precisely, it started promptly at nine AM on Sunday, November 4, 2018, because of the procedure tied to the electronic voting arrangements. The two Election Officers responsible for the disclosure of the results represented respectively the English and the French Networks. They were the ones connecting to access the results and afterward unveiling them to the General Assembly. David MacFarlane from Edmonton was representing the English Network while Sébastien Fleurant was officiating for the French Network. Sébastien was replacing Marcel Arsenault the Arsenault, the original nominee who could not attend. Marcel had to be excused because of a work assignment in Iqaluit.
Three different votes were submitted to the 407 voting members of APS. The participation rate for the election was recorded at 45.45%, a percentage slightly higher than the ones recorded in previous years.
For the position of National Treasurer of the Association the winner is Isabelle Benoit from Montreal, a clear choice with an impressive 55.68% of the votes (103 votes). In order, the two other candidates Jerry Ding and Gary Gornik respectively received 29.19% and 15.14% of the votes. Members attending the event were enthusiastic in congratulating the winner. The President Mario Poudrier also congratulated the other candidates while saluting the presence of Jerry Ding and extended his invitation to continue participating in the association as a valued member of the Investment Committee.
The Other Votes
Two other votes were submitted to members: the nomination of external auditors and the abrogation of the compulsory national consultation for the nomination of those auditors.
The proposal from the National Executive Committee to appoint the accounting firm Désormeaux Patenaude Inc. to produce the financial statements for the fiscal year 2018-2019 was accepted with a 77.84% approval rate (144 votes).
However the vote to abandon a national election for the selection of the auditors did not reach the standard affixed in our national By-Laws. To authorize a change in the By-Laws a minimum of 66% of the votes recorded at the election has to be reached. In this consultation only 57.30% of voters (106 votes) opted to support the proposal to eliminate the national vote for the nomination of external auditors; in other words, less than 10% of the requirement. However strict opposition to the proposal was not that strong with only 32 members (17.30%) actually voting against the measure. The failure to reach the mark was caused by the large number of 47 abstentions (25.41%). Grounds for reflection as this result means we will again hold a national vote next year for the nomination of external auditors.