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CFNA Annual Report – 2017

1 Leadership – Advocacy – Stewardship

PurposeThe purpose of the Community Futures Program is to help communities develop and implement local solutions to challenges and opportunities in the areas of:

- Economic stability, growth, and job creation;- Diversified and competitive local rural economies;- Economically sustainable communities

Mission “The Community Futures Network of Alberta provides advocacy, leadership and stewardship for the network of Community Futures organizations in Alberta”

Vision “Alberta Community Futures Organizations are respected leaders in Rural Economic Development” Updated February, 2017


Table of Contents

Annual General Meeting Agenda.....................................................................................................5Community Futures Network of Alberta..........................................................................................6CFNA Chairman’s Report................................................................................................................. 7Executive Director’s Report............................................................................................................9What we do................................................................................................................................... 10Where we are going......................................................................................................................12Secretary Treasurer’s Report........................................................................................................13

Working Capital......................................................................................................................... 13Assets........................................................................................................................................ 13Liabilities.................................................................................................................................... 15Fund Balances............................................................................................................................ 16Revenue..................................................................................................................................... 17Expenses.................................................................................................................................... 18Conclusion and Proposed Motion...............................................................................................19

2016 AGM Minutes - Friday September 30, 2016 Medicine Hat Lodge, Medicine Hat, Alberta......20


Annual General Meeting Agenda Date: Friday, September 29, 2017Time: 10:45 amLocation: Fantasyland Hotel located at 17700 87 Ave NW, Edmonton, Alberta

1. Call to Order (10:45 am) 2. Introduction of Guests 3. Declaration of Quorum4. Review and Adoption of the Agenda

i. Proposed Motion “Moved to adopt the Agenda as circulated” 5. Minutes of the 2016 CFNA AGM

i. Proposed Motion “Moved that the Minutes of the Community Futures Network of Alberta Annual General Meeting held September 30th, 2016 be adopted as circulated”

6. Introduction of the 2016-2017 CFNA Board of Directors7. CFNA Chair Report 8. Executive Directors Report 9. Presentation of the 2016-2017 CFNA Audited Financial Statements (MNP)

i. Proposed Motion “That the audited financial report of the Community Futures Network of Alberta for the year then ended March 31, 2017 be adopted as circulated and discussed”

10.Governance Document Update i. Proposed Resolution “Resolution to amend the current Community Futures Network

of Alberta Memorandum of Association as presented”. ii. Proposed Resolution “Resolution to repeal the current Community Futures Network

of Alberta Articles of Association and to replace them with the new Articles of Association as presented”.

11.CFNA Board Recognition and Introduction i. Proposed Motion “That the Community Futures Network of Alberta and its

membership recognize its slate of Directors for the 2017-2018 Operating year” 12.Motion to Adjourn

All Alberta CF Board members, CF staff along with CF Stakeholders and Partners are invited and encouraged to attend. Voting is limited to one (1) vote per Alberta Community Futures organization. Each


Community Futures will appoint one (1) voting delegate who, for the purposes of voting on behalf of the CF organization, shall be the Board Chair or his/her volunteer board member designate.


Community Futures Network of Alberta

Your 2016-17 CFNA Board of Directors The CFNA Board is representative of the 27 Alberta CF organizations. These organizations, through the three (3) Alberta CF regions, elect a total of eleven (11) CFNA board members to serve two (2) three-year terms. Terms commence at the end of the Annual General Meeting, which is held in September each year. The Executive Committee of the Board is elected annually by the CFNA Board members. The role of the Board of Directors is to provide strategic direction for the organization.

Back Row (left to right)– Lloyd Kearl, Sean Blewett, Lynn MacWilliam, Patti-Jay Powell, Matthew Creighton, Brad GaraFront Row (left to right) – Tony Stolz, Tim Sawarin, Chris King, Randy Hodgkinson, Chris Curtis. Absent – Dave Vanderwell


CFNA Chairman’s Report I would like to start by saying it has been an absolute pleasure to have had the opportunity to serve on the board of the Community Futures Network of Alberta (CFNA) over this past fiscal year. It has also been an honour to have been elected by my fellow Directors to serve in the position of board Chair - a role I have held since June 2016. The 2016-17 operating year for the CFNA can best be described as one

following a theme of ‘new beginnings’. Key activities this year included initiating the process of updating the CFNAs governance documents including its Memorandum of Association and Articles of Association. Both of these documents in fact have been updated and have now been prepared and circulated to the membership for review this AGM. We also initiated a complete review of the CFNAs Policies and Procedures with the goal of updating them to a ‘best practice’ standard. This project will be complete in Fiscal 2017/18, and we will of course make these documents available to all Alberta CFs as a resource. The other key change of course was bringing on our new Executive Director. Tony Stolz started with CFNA last September and has been working very hard to learn the role. The CFNA Board very much appreciated the input we received from the CFs who responded to our ED feedback survey. Our goal is to further develop these types of communications tools to ensure CFNA is providing value and is meeting the needs and expectations of your Community Futures office!I want to take this opportunity to thank those CFNA Board members who have served us well over the past year. I will start with a special thanks to Patti-Jay Powell (CF Central Alberta) and Sean Blewett (CF Entrecorp and Chinook) for their hard work on the governance and policy document updates. CFNA operates as a volunteer board so their time and hard work on this important update was very much appreciated.I would also like to thank the Executive Committee, Randy Hodgkinson (Manager, CF Peace Country), and Patti-Jay Powell (Manager, CF Central Alberta) for their work in the capacity of CFNA VPs, and Matt Creighton (Chair, CF Wood Buffalo) for his work as Secretary Treasurer and for going the extra mile helping to modernise the CFNA audit report. I would also like to recognize and express appreciation for the following individuals who also each served Alberta CFs on the 2016-17 CFNA Board of Directors.

Brad Gara – Manager, CF Elk Island and CF East Central Chris Curtis – Director, CF Big Country Dave Vanderwell, Director, CF Lesser Slave Lake Lloyd Kearl, Chair, CF Alberta South West Lynn MacWilliam, Director Wild Rose Tim Sawarin, Director Lloydminster


As a professional Economic Developer and a former small business banker, Community Futures has been a very important foundation of the communities I have lived in. Community Futures is and will always be a local grass roots effort to build our communities. I have been very proud to have had the opportunity to sit on and chair the Board of Directors for CFNA to ensure that every community is provided the same level of support, training, and sharing of best practices. Autonomy is important for the success of the CF program; however common training and sharing of best practices ensure that no community is disadvantaged due to inexperience at the Staff or Board level. With my term on the CFNA Board representing the North West coming to an end at this AGM, and my term limit expiring in one year at CF Grande Prairie and Region, I will not be seeking re-election to the CFNA Board of Directors.I am of the opinion that the CFNA is in very capable hands to move forward and continue to operate with the best interests of our membership. The efforts over the past year towards the governance policy updates, procedure changes, and board development combined with a very competent Executive Director and staff provides me with comfort knowing that CFNA is in strong hands.

Chris King CFNA Board Chair


Executive Director’s Report Well … time really flies when you are having fun! It has already been one year since I re-joined the Community Futures family in the capacity of Executive Director at CFNA. I have to say that while it has been a steep learning curve it has definitely been interesting (and fun) having the opportunity to serve Alberta CFs! With the pace of change in our world today this is certainly an exciting and important time to be involved in this program! I’ll start by thanking the CFNA Board and Alberta CFs for their incredible

support over the past year while learning my position. This task was made so much easier with the training and advice I received from Jon Close and with the support, enthusiasm, and professionalism of my staff team. Margi Storey is the coordinator of the Elevate program but she consistently steps up to take on anything, including the CFNA AGM and CF Conference, and I could not operate without her. Judy MacMIllan Evans runs the Entrepreneurs with Disabilities program, Bizstream, plus special projects, and she keeps proving herself to be an invaluable asset to Community Futures with her dedication and understanding of the CF program. Lastly, this year we said goodbye to Tracy Paquet whose enthusiasm and contributions were so very much appreciated by all who worked with her. In the next section we will talk about what the CFNA does and highlight some of the key projects we did over the past year. I would like to point out however that CFNA cannot take the credit for this work. The reality is CFNA exists to support its members and the work we do is done with the support and input of our board and Alberta CF offices. Over the past year, CFNA set up working and ‘advisory’ committees to work on many projects including our Governance Documents, Lending Portal, the CF symposium, Professional Development, and the What If – Marketing Campaign. Advisory committees are a great way for CFs to get involved at the provincial level to support the Community Futures program! If you see a project you are passionate about please let us know and we well get you involved!

Dream … Learn …. Achieve

John Quincy Adams


Tony StolzCFNA Executive Director

What we do Projects

Elevate - Funded by Service Canada’s Opportunities Fund, Elevate is a business support program for entrepreneurs with disabilities, with potential funding per participant up to $13,500. CFs can benefit up to $5,000 per client by participating in this program. At the close of the first intake period on March 31, 2017, there were 30 active Alberta Elevate participants with the program being delivered in 13 Alberta CFs.

Entrepreneurs with Disabilities Program (EDP) – The objective of the Alberta EDP is to ensure ready access to entrepreneurial support services for persons with disabilities. This support is offered through the funding of business training and coaching for Community Futures clients. In fiscal 2016-2017, the number of clients supported surpassed the target of 25 with a total of 29 clients supported.

Bizstream – The objective of the BizStream program is to increase vendor criteria awareness and management capacity of rural businesses with the potential to engage in business relationships with government and big

business. The program encompasses tool kits and supports for Community Futures to work with their clients. The 2016-2017 pilot phase identified the need for a self-directed learning program that businesses could work through at their own pace. Funding for 2017-2019 was secured through CARES to continue the

BizStream project.

Conference & Gala – The 2016-17 CF Conference was held in Medicine Hat, September 28–30, 2016 and was co-hosted by CF Entre-Corp. The event saw 101 conference delegates, and 126 people attended the Awards Gala.

TEA Support - A TEA Coordinator project was created to help CF offices make better and more consistent use of TEA. The role of the Coordinator included setting up training sessions and offering CF offices general support. While this position was not carried forward into Fiscal 2018, TEA training remains a CFNA priority.


Pan West - Community Futures Pan West is a joint initiative of the four provincial

Community Futures associations established in 1996. Working in partnership with Western Economic Diversification Canada, Pan West provides training and support to 90 Community Futures organizations which provide services to Canada’s rural west. Over 50% of Pan West’s budget is targeted for training. CFNA provides administrative services for Pan West.

Representation & Liaison CFNA regularly meets with strategic stakeholders to advocate for the Community Futures program. This past year included working with Pan West and Community Futures Network of Canada on the development of a shared vision and position paper for Community Futures organizations across Canada in the context of contract renewal. Key stakeholders include WD, all members of the Western Canada Business Service Network, Alberta Economic Development, Alberta Agriculture, Alberta Innovation, Alberta Tourism, plus lenders including BDC, Treasury Branch, and Servus.

Training CFNA is involved in the delivery of many different training programs and opportunities including:

CFNA - Common Goals TEA training CFNA Training – Business coaching, Project Management, Rural Diversification, Cluster

Development, Lending Training, Financial Literacy CFNA - Bizstream Training CFNA - Community Futures Training Program Pan West - Leadership Institute training Pan West - CU – On-line Training

Community Futures Training Program (CFTP) – The objective of the CFTP is to create a Community Futures branded training program for delivery to clients on a fee for service basis. In fiscal 2016-2017, the 20 training topics were identified and course development began. Funding for 2017-2019 was secured through CARES to complete the course development and develop a pool of Community Futures trainers.

Member Services CFLIP – CFLIP is a depositing and lending pool which Alberta CFs are

able to access based on local needs. At March 31st CFLIP had 12 approved lines of credit with Alberta CFs worth $11.17 million. A total of 16 CFs plus CFNA held deposits in CFLIP worth $20.69 million. Returns on deposits for Fiscal 2016-17 were 4.84%.


Shared Services – A total of 10 provincial business services to CFs were offered including

Bullet Proof exchange server and IT support, Business Prospects reports, Travel insurance, D&O and E&O insurance, group benefits packages, creditor insurance, Equifax, and RBC pension. CFNA conducts a yearly review of all services to ensure services meet the needs of members and are price competitive.

Loan Approval Portal – An on-line lending portal was completed in cooperation with Community Futures Central Alberta (launched in April, 2017). The Portal enables IRC committees to review, discuss, and approve business loans in the secure ‘cloud’ area originally developed for the Loans Security Database. We hope to continue development of this Portal based on CF feedback and uptake.

Communications - Each year CFNA conducts a minimum of 3 formal surveys and communicates with CFs and partners via emails, phone calls, special meetings and newsletters. For Fiscal 2017 CFNA conducted 8 formal surveys, circulated 9 newsletters, sent out 26 (est) information bulletins, and visited 6 CFs.

Marketing - The final leg of the ‘What If’ marketing project was scheduled to be complete in Fiscal 2017, but the announcement of the Alberta CARES grant last year provided CFs the opportunity to rethink this strategy and delay this project until Fiscal 2017/18. CFNA worked with Alberta CFs to update the marketing plan and we were ultimately successful in securing $110,000 of grand funding leveraging an additional $80,000 from Alberta CFs and $15,000 from CFNA this fiscal.Other CF Marketing activities include maintaining the CFNA Website and bi-weekly updates to our Twitter and Facebook accounts.

Strategic Goals – The CFNAs strategic goes for Fiscal 2017 included; advocacy, support for innovation, strengthening policies and procedures, and building strategic partnerships. In addition CFNA, and Alberta Community Futures offices, work to support the strategic goals of WD by developing local strategies to help address these goals. WD strategic priorities currently include supporting innovation, clean technology, trade & investment, procurement and Indigenous Economic Growth.

Where we are goingIn addition to our commitment to continuously improve our ‘core services,’ CFNA’s strategic priorities moving to Fiscal 2018 include;

A focus on technologies, tools, and best practices. Completing our ‘best practice’ update on the CFNA’s Memorandum of Association,

Articles, and Policies & Procedures.


The development of a ‘Communications Strategy’ to

ensure programs and services are relevant to stakeholders and mechanisms are in place to support effective communication.

Improved focus on building strong relationships with strategic partners.

Strengthening our education strategy for boards and staff members.

Supporting and promoting WD Strategic Priorities including Innovation, Clean Technology, Trade & Investment, Procurement, and support for Indigenous Economic Growth.


Secretary Treasurer’s Report Introduction

On behalf of Chair Chris King and the CFNA board it is my pleasure to introduce the financial report for Community Futures Network of Alberta (CFNA) for the year then ended March 31, 2017. (See attached Financial Statements)

The March 31, 2017 audited financial statements have been prepared by the independent auditing firm of Myers, Norris and Penny LLP – Calgary. Their work has been commissioned by the Board of the CFNA. On June 23, 2017 the Executive Committee of the Board met with the auditors. In this meeting, the auditors provided their detailed financial report and responded to questions. The Financial Statements were submitted to the CFNA Board by the Executive Committee. The audited financial report was approved by the CFNA Board for release to the membership on September 7th, 2017. This Treasurer’s Report is intended to highlight the financial position, changes in the financial condition and results of the historical and current operations of the CFNA. It should be read in conjunction with the enclosed March 31, 2017 audited financial statements and accompanying notes.Working Capital The Working Capital analysis (Table 1) demonstrates the CFNA is able to meet its current operational and CFLIP liquidity requirements.

Table 1 – Working Capital AnalysisCFNA Working Capital Analysis – Fiscal 2017

CFLIP CFNA Total 2017 Total 2016 * Change Current Assets $21,419,876 $1,142,842 $22,562,718 $22,354,868 $ 207,850Current Liabilities

$13,775,547 $349,580 $14,125,127 $14,216,076 $-90,949

Working Capital $7,644,329 $793,262 $8,437,591 $8,138,792 $298,799Ratio 1.55:1 3.27:1 1.60:1 1.57:1

* 2016 Restated (Note 17 CFNA Audited Statements)

Assets CFNA assets are divided into the following three categories.Assets Held in Trust in the CFLIP FundCFLIP assets are derived from deposits by Alberta CFs (17 Alberta CFs @ March 31, 2017) plus proceeds from a conditionally repayable $ 7.0 million loan from WD – Alberta Region. These assets are intended by Alberta CFs to be deployed for two (2) specific purposes:

a) To be a source for Alberta CFs to gain access to required investment funds; andb) To serve as a means of optimizing returns on deposits without increased risk to

the individual CF depositor.16

Leadership – Advocacy – Stewardship

The analysis above of CFLIP Holdings at March 31, 2017 demonstrates that 52% ($ 11.17 million) of the Alberta CFLIP investment holdings were in the form of approved, margined and secured loans to 12 Alberta CFs. CFLIP continues to work to the benefit of rural SMEs that would otherwise have had difficulty gaining access to start-up and/or growth capital.The remaining 48% of CFLIP invested funds ($ 10.25 million) are administered, protected and managed on behalf of the CFNA by the following independent, professional third party service providers:

Custodial & Trustee Services – Canadian Western Trust (since April 2012) Professional Recordkeeping/Fund Services – The Recordkeeper Inc. (since 2000) Professional Fund Management Services – Fiera Capital (2015)

The portion of CFLIP funds under management by Fiera Capital, are managed within the strict CFNA Board approved investment fund guidelines. These guidelines are revisited annually by the Board with inputs received from Fiera Capital.


The chart (below) profiles the summary of assets, by investment category, held by CFLIP:

CFNA Operating The second of four categories of CFNA assets are within the CFNA Operations Fund. These represent the core operating assets of the CFNA including:

o Cash - $ 304,226 (2016 – $83,940)o Accounts Receivable - $105,781 (2016- $ 175,283)o Interfund advance ($ 727,444 being the net amount CFLIP owes the CFNA); ando Prepaid Expenses – $ 5,391 which represents the deposit on CFNA leased premises.

Capital AssetsCapital Assets totalled $10,250 for 2017. These assets are recorded at cost at year end (2016 - $ 11,556)

Liabilities Similarly, the Liabilities are reported in the following four categories:

Accounts Payable & AccrualsTotal Accounts Payable & Accruals for 2017 was $145,155 (2016 - $105,460) offset by Cash and Accounts Receivable totaling $ 410,007

Liabilities related to CFLIP HoldingsLiabilities related to CFLIP Holdings totalled $13,018,029 (2016 -$ 13,253,668). This represents funds due to Alberta CF Depositors at March 31, 2017 are reported at fair value by quotations received in an active market. At this date 16 of 27 Alberta CFs held deposits in CFLIP.


Depositor Opening Movement Earnings Closing CF Centre West 2,071$ -$ 101$ 2,172$ CF East Parkland 897,107$ 770,000-$ 32,894$ 160,001$ CF Lac La Biche 1,036,335$ 1,048,108-$ 11,773$ -$ CF Elk Island 236,625$ -$ 11,452$ 248,077$ CF Wild Rose 1,357,580$ -$ 65,703$ 1,423,283$ CF Highwood 723,982$ -$ 35,038$ 759,020$ CF Tawatinaw 2,046,113$ -$ 99,026$ 2,145,139$ CF Chinook 831,431$ 250,000$ 49,834$ 1,131,265$ CF Big Country 989,150$ 20,000-$ 44,479$ 1,013,629$ CF Lloydminster 543,728$ -$ 26,316$ 570,044$ CF Wood Buffalo 193,120$ -$ 9,347$ 202,467$ CF Central Alberta 761,570$ -$ 36,858$ 798,428$ CF West Yellowhead 312,503$ -$ 15,124$ 327,627$ CF Southwest 1,763,522$ -$ 85,350$ 1,848,872$ CF Crowsnest 827,753$ -$ 40,061$ 867,814$ CF Lesser Slave Lake 589,122$ -$ 28,512$ 617,634$ CF Lethbridge 141,953$ 7,367-$ 14,237$ 148,824$ CF Northwest -$ 750,000$ 3,733$ 753,733$

13,253,668$ 845,475-$ 609,836$ 13,018,029$ Average Rate of Return / Month 4.77%Average Yield / Month 2.66%

CFLIP 2017 Portfolio Performance

Performance = 4.84%

Long-Term CFLIP Liability Long-term CFLIP Liability includes $7.0 million which is conditionally repayable to WD.

CFNA Operating Fund LiabilitiesThis includes deferred contributions of $234,499 (2016 - $ 117,431) which represents funding received by year-end but not used or fully used for the specific project(s). Deferred revenues relate to the Alberta CF Marketing project, Biz Stream, Pan West deferred and advanced payments, TEA training, CF conference, and EDP marketing.

Fund Balances Share Capital As a provincial association, the CFNA provides support and services to all 27 Alberta CF organizations.The CFNA also provides incremental investment fund pool services to CFs participating through the CFLIP Cash Pooling Agreement. Twenty-five (25) Alberta CFs have signed this Cash Pooling Agreement and paid the $ 500 CFLIP membership fee. Share capital is made up of the $1.00 share purchased by each of those 25 CFLIP program members.

Unrestricted


These are the accumulated surpluses recorded by the CFNA since inception. The majority of this accumulated surplus relates to the net earned income on the WD conditionally repayable advance to CFNA for application in the operation of CFLIP.

Revenue CFNA Core Operations The auditor’s presentation on the Statement of Operations changed in the year 2017 over 2016. The following are the comparisons and related comments as applicable.

Table 4 – Summary of CFNA Core Fund Revenue

Comments – Operating Revenues

i. Core Operating Funding: Like all CFs and CF Associations across the west, the CFNA has not received an increase to core funding since 2008-2009. Our current agreement provides support for CFNA operations. CFNA in turn provides added-value, coordination, training and other forms of support and leadership to all 27 Alberta CFs. The CFNA transfers interest earned from its investment of $ 7.0 million in the CFLIP fund. The transfer of interest is considered by the Board of the CFNA to be critical to the ability of this provincial CF association to operate its CFLIP division and to provide incremental levels of project and member services supports to Alberta CFs and support to WD for various CF program related initiatives requiring input and support.

It is important to note, the draw-down of interest earned by the CFNA from its 20

Leadership – Advocacy – Stewardship

March 31st, 2017 2016 Change

Project Administration 26,285$ 22,739$ 3,546$ CFLIP - Admin Interest Transfer 70,000$ 70,000$ -$

Administration Revenue 96,285$ 92,739$ 3,546$

CFLIP - TEA Project 32,000$ 9,287$ 22,713$ CFLIP - Other Projects 32,000$ 68,463$ 36,463-$

Other Revenue 64,000$ 77,750$ 13,750-$

Training 23,753$ 36,500$ 12,747-$ Projects - Other 22,905$ 22,810$ 95$ Conference Revenue 43,977$ 74,451$ 30,474-$

Project Revenue 90,635$ 133,761$ 43,126-$

Rental Revenue (Offi ce) 10,838$ 14,392$ 3,554-$ WD Core Funding 246,253$ 246,253$ -$

Total CFNA Operations Revenue 257,091$ 260,645$ 3,554-$ Total Revenue 508,011$ 564,895$ 56,884-$

earned income in its CFLIP division does not impact the deposits or returns on deposits owned by CF members depositing or investment funds into CFLIP. Further, the draw-down of interest earned by the CFNA in CFLIP has not, nor will it, drawn down below net income earned on this investment.

During the past operating year, CFNA operations leveraged the following CF focused projects:a) Elevate b) Entrepreneurs with Disabilities Program (EDP) c) Bizstream (SME Project) d) Pan West

Expenses Comments

a) Conference Expenses –Conference expense totaled $40,309 (2016 -$ 59,761).

b) Office – Costs include office supplies & photocopying, postage and courier, and security, janitorial & storage.

c) Office Lease – The CFNA has a five (5) year lease agreement on premises located in Cochrane, Alberta and sublets a portion of this office space to CF Centre West.

d) Salaries, Wages & Benefits – The 2016-17 operating year was a transition year for CFNA with some additional wage costs associated with the transition to the new Executive Director. It should be noted that he original proposed operations budget was adjusted early in the fiscal year to reflect approved funding.

The history of Salaries, Wages and Benefits expenses are summarized as follows:

2017 2016 2015 2014 2013 2012Budget 295,772$ 275,000$ 235,000$ 215,600$ 265,254$ 258,367$ Wages & Benefits 193,564$ 239,726$ 217,329$ 236,774$ 260,820$ 176,379$ # FTE +/- 2.0 +/- 3.0 2.5 2.7 2.5 3

CFNA Historical Wages & Benefits


e) Special Project Expenses

f) Training – Spring Training There were two (2) staff development sessions and 2 board development training sessions delivered during the 2016-17 operating year compared with two staff development sessions and 4 board development training sessions in 2015-16.

g) Year-Over-Year Comparison CFNA Travel

Conclusion and Proposed Motion

“That the audited Financial Report of the Community Futures Network of Alberta for the year then ended March 31, 2017 be adopted as circulated and discussed”.

Matthew CreightonCFNA Treasurer


Project Description 2017 2016

Executive Director Training Training & associated board costs 33,759 - TEA Coordinator Wages, benefits, & project costs 32,489 9,287 Executive Director Recruitment Recruitment costs (2016) - 15,980 Other - 11,101

Total 66,248 36,368

2017 2016 2015 2014 2013 2012Budget 40,000$ 49,000$ 36,000$ 42,600$ 42,600$ 58,200$ Actual 16,529$ 31,028$ 39,761$ 30,946$ 38,746$ 49,444$

CFNA Historical Board & Staff Travel

2016 AGM Minutes - Friday September 30, 2016 Medicine Hat Lodge, Medicine Hat, AlbertaAttendees Eligible to Vote:Community Futures Alberta Southwest (Lloyd Kearl), Community Futures Big Country (Chris Curtis) Community Futures Capital Region (Brad Hopfauf), Community Futures Central Alberta (Ernie Murias), Community Futures Centre West (David Cooper)Community Futures Chinook (Bruce Warkentin)Community Futures East Central (Shannon Bendfeld)Community Futures East Parkland (Wayne Clark)Community Futures Elk Island Region (Jacquie Fenske)Community Futures Entre-Corp (Kenton Baker), Community Futures Grande Prairie and Region (Chris King)Community Futures Lac La Biche (Shirley Michaud)Community Futures Lakeland (Roy Doonanco) Community Futures Lesser Slave Lake Region (Randy Ehman) Community Futures Lethbridge (Marvin Slingerland) Community Futures Lloydminster and Region (Kevin Spahich)Community Futures Peace Country (Raoul Johnson)Community Futures St Paul. Smoky Lake Region (Steve Upham) Community Futures Tawatinaw (Peggy Laing) Community Futures West Yellowhead (Marcel Michaels)Community Futures Wild Rose (Lynn MacWilliam)Community Futures Wood Buffalo (Matt Creighton)Community Futures Yellowhead East (Judy Tracy)

Regrets: Community Futures Crowsnest PassCommunity Futures Treaty SevenCommunity Futures HighwoodCommunity Futures Northwest Alberta

Call to Order – 3:16 p.m.Board Chair, Chris King formally called the meeting to order and declared a quorum present for the purposes of conducting business at the Annual General Meeting of the Corporation (Community Futures Network of Alberta).Community Futures Peace Country (Raoul Johnson) moved / Community Futures Big Country (Chris Curtis) seconded:“That the Agenda for the Community Futures Network of Alberta 2016 Annual General Meeting

be adopted as circulated”

Carried

Review and Adoption of Minutes from 2015 Community Futures Network of Alberta Annual General Meeting.

Community Futures Wood Buffalo (Matt Creighton) moved / Community Futures Lakeland (Roy Doonanco) seconded:


“That the Minutes of the Annual General Meeting of the Community Futures Network of Alberta

held October 2, 2015 be adopted as circulated”Carried

Introduction of the 2015-2016 CFNA Board of DirectorsChris King introduced the new Executive Director of the CFNA, Tony Stolz, and then proceeded to introduce and asked the membership to recognize the CFNA Board of Directors for the 2015-16 operating year.

Introduction of 2015 – 2016 CFNA Board of Directors

Representing Board Member Term EndingVolunteer – South Vacant 2016

Management – NW

Randy Hodgkinson

2016

Management – South

Darlene Sinclair 2016

Volunteer – NE Vacant 2016Volunteer – NE Matt Creighton 2017Volunteer – NW Chris King 2017Management –

SouthPatti-Jay Powell 2017

Volunteer – South Chris Curtis 2018Volunteer - South Vacant 2016Management - NE Brad Gara 2018

Volunteer - NW Vacant 2018

The 2015-2016 CFNA Board was recognized by the membership.

CFNA Chair ReportThe report from the CFNA Chair was included in the Annual General Meeting (AGM) Report. It was circulated electronically to all Alberta CF’s prior to the AGM. The Chair Report was also included in the AGM package circulated on the day of the AGM. Community Futures Tawatinaw (Peggy Laing) moved / Community Centre West (David Cooper) seconded:

“That the CFNA Chair’s Report be adopted as circulated”Carried

CFNA Executive Director ReportThe CFNA Executive Director Report was also circulated to all Alberta CFs in advance of the AGM. It was also included in the AGM package circulated on the day of the AGM. Community Futures East Parkland (Wayne Clark) moved / Community Futures Central Alberta (Ernie Murias) seconded:

“That the CFNA Executive Director’s Report be adopted as circulated”


Carried

CFNA Treasurer’s Report - Adoption of the March 31, 2016 Audited Financial StatementsChair, Chris King called upon Matt Creighton (CFNA Treasurer) to introduce the Treasurer’s Report and the Auditor’s Financial Report for the year then ended March 31, 2016.

The CFNA Treasurer provided a summary overview of the highlights of the financial report and responded to questions from the floor.

Community Futures St. Paul-Smoky Lake (Steve Upham) moved / Community Futures East Central (Shannon Bendfeld) seconded:

“That the Audited Financial Report of the Community Futures Network of Alberta for the year then ended March 31, 2016 be adopted as circulated and discussed”

Carried Auditor SelectionRequest for Proposal to select auditor for 3-year term.

Community Futures CF Centre West (David Cooper) moved / Community Capital Region (Brad Hopfauf) seconded:

“That the Community Futures Network of Alberta will put out a Request For Proposal for an Auditor for a 3- year term”

Introduction of the 2016-2017 CFNA BoardChair Chris King, again thanked the members of the 2015-2016 CFNA Board. The Board members were recognized for their leadership and willingness to address difficult CF program issues.

Chris King introduced the Board of Directors for the Community Futures Network of Alberta 2016-2017:

Representing Board Member Term Ending

Volunteer – South Lloyd Kearl 2019Management – NW Randy Hodgkinson 2019

Management – South Sean Blewett 2019Volunteer – NE Tim Sawarin 2019Volunteer – NE Matthew Creighton 2017Volunteer – NW Chris King 2017

Management - South Patti-Jay Powell 2017Volunteer – South Lynn MacWilliam 2017


Volunteer – South Chris Curtis 2018Management - NE Brad Gara 2018

Volunteer - NW Dave Vanderwell 2017

Community Futures Lesser Slave Lake (Randy Ehman) moved / Community Futures CF Lloydminster (Kevin Spahich) seconded:“That the Community Futures Network of Alberta and its membership approve and recognize its

slate of Directors for the 2016 - 2017 operating year”Carried

AdjournmentChris King then called for a motion to adjourn the 2016 CFNA Annual General Meeting.

Community Futures East Parkland (Wayne Clark) so moved – 3:39p.m.
