[committee] (no subject)

[Andrew Adamson]

Here's the investment resolution I just banged up as a draft for tomorrow:

<resolution>
The "Rainy Day" fund:

This resolution is made in accordance with the University Computer Club 
Investments Policy as detailed in section 1 of Appendix 1 of the 
Constitution.

The $50,504.79 currently in the term deposit with the Club's Westpac 
account shall remain in the deposit until maturity or until the club in 
general meeting resolves otherwise. At maturity of the term deposit a new 
term deposit must be started under the following conditions:

1. The new interest rate is not less than one percent less than the old 
interest rate
2. The policy with the highest monthly interest rate is selected with a 
term of no less than 24 months

Where these condition are unable to be met, a General Meeting must be 
called to decide new terms for the investment.

Each calendar year the Committee must add $1000 to the investment, either 
by adding to the investment directly or putting the funds aside in a 
reserve account until such time as they can be added to the term deposit. 
Those funds put aside shall be considered a part of the investment. The 
existing $595.91 in the cash reserve account shall be considered as part 
of the existing investment and shall not count as part of the 2013 
contribution. The funds in the reserve account may be moved to another 
bank account by the Committee so as to maximise the interest generated by 
those funds until they can be added to the term deposit.

The profit arising from this investment may be spent as normal club funds 
only after the yearly addition has been made.

The funds in this investment may only be accessed in accordance with the 
terms of this resolution, or a subsequent resolution.

Access to the investment will require the signatures of at least two 
members of the Executive.
</resolution>

Unfortunately I can't be around tonight to debate this as I have band, but 
I'm sure this can be improved upon. The appendix in question is here: 
http://www.ucc.asn.au/infobase/policies/appendix.ucc

See you all tomorrow!

Andrew Adamson
bob at ucc.asn.au

|"If you can't beat them, join them, and then beat them."                |
| ---Peter's Laws                                                        |