Tuesday, February 19, 2008

Building Expansion SGM--NEW MOTIONS and UPDATED PLAN

After discussions with our auditors regarding our initial plan and one
more week spent with our planning, the Executive have some revised motions
and a revised building expansion plan for your consideration at the
Special General Meeting.

We are seeking your assistance in letting people know about these changes.

The main change is that the auditors have recommended paying off
expansion longer, and not using as much of the Rainy Day Building Fund
for the first payment, thus leaving more funds available as a
contingency.Although this increases interest costs over our original
proposal, it reduces the risk to the society. This proposal would
increase the money borrowed to $400,000 maximum. The original motion and
the new one are both on the motions page (see link below).

The executive also costed some additional options for comparison at the
meeting in response to feedback from members--there are now three options
reflected in the expansion plan (link below): Option 1: total renovation
as in architect's proposal, Option 2: Only renovating the kitchen, and
Option 3: only adding the Student common room addition (and doing the
required kitchen upgrade without expansion). The budget and
costs/benefits for each option is listed with each in the proposal

Note that the motion for borrowing $400,000 applies to Option 1, the
others require less borrowing (or none).

All this information can be found through the GSS website page on the
special general meeting.
Please have a look here, and encourage others in your department to have
a look too!


*** it was pointed out to me that in the 2nd last slide of the "plan" I
did not update the total expense when copying the slide. This will be
corrected, but for now, please note the error!***

I hope you are having a good reading break. Feel free to send any
questions. The office is closed but I am around. gssmgr (at) uvic.ca


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