PAGE 4 OF 10
AAS AGM / MARCH 29th 2017
Financial Reports
The audited financial reports for the year ended 31st December 2016 has been circulated and taken as read. Treasurer Paul Ho presented the financial report. The highlights include (1) $21k net operating in 2016 compared to $4k loss in 2015, (2) total gross revenue was about $250k comprising mainly of $133k from sponsorships, $94k from events, $11k from Partner Universities, and $9k from membership fees, (3) total expenses was about $228k comprising mainly of $125k for events, $67k for secretariat, $11k for advertisements, $7k for website amortization, and $7k for meeting venue and refreshments. There were about $295k cash in bank, $162k sponsorship fees received in advance, $34k Partner University fees received in advance, and the members net equity stood at about $105k.
Election of Members of the Management Committee
The following persons retired from the Management Committee; Dr. Abhishek Bhati, Mr. Lee Ee Win, and Mr. Melvin Gwee. There were six members nominated as candidates for election to the Management Committee; Mr. Benedict Koh, Mr. Joseph Kwok, Ms. Virna Lew, Mr. Liaw Wee Tong, Ms. Leesa Soulodre, and Mr. Peter Tan.
The following persons were elected to the Management Committee; Mr. Joseph Kwok, Ms. Leesa Soulodre, and Mr. Peter Tan.
Election of the Auditor
Mr. Andrew Han served as the Auditor for 2016. He was nominated a candidate for re-election for the office of the Auditor 2017. There was no other candidate nominated. Mr. Andrew Han was elected to the office of the Auditor.
Amendments to the Constitution
It was resolved that the following amendments, subject to the approval of the Registrar of Societies, be made to the constitution;
1. Clause X(1) : “Twelve (12) Management Committee members of natural persons shall be elected at the first Annual General Meeting after this Constitution comes into effect. There shall be no more than 3 Management Committee members from each University. If a member has studied in more than one University, the member shall determine which University is to be counted for this purpose.”
2. Clause X(5) : “The Management Committee may co-opt up to three (3) Management Committee members with voting right for the current term. The Management Committee may also fill casual vacancies for the remaining term of the respective vacancy.”
3. Clause XI(1) : “The Management Committee shall regulate it’s own meetings. At least half of the Management Committee must be present to form a quorum.”
4. Clause XI(6) : “The Secretary shall: (a) maintain all records except financial, of the Association and shall be responsible for their correctness. (b) be responsible for and keep accurate and up to date minutes of all General and Management Committee meetings. (c) notify the Registrar of Societies within the prescribed time of any changes in the office bearers, changes in the constitution, and other changes that filing is prescribed.”
5. Clauses XI(7), XIV(2), & XIV(4) : “The Treasurer shall (a) keep all funds and collect and disburse all monies on behalf of the Association (b) issue and sign receipts, vouchers and other related documents for moneys received on behalf of the Association, (c) deposit all money and other valuables belonging to the Association in such bank or banks as may be