MINUTES OF A MEETING OF THE BOARD OF DIRECTORS OF TRENT RADIO, held at Jolly Hangman at Peter Robinson College, Trent University, Peterboro, Ontario, on Thursday, 9 February 1995 at 6 p.m. P R E S E N T : Mia Biasicci, Andrew Cousins, and Harrison J Windeler, being Directors of the Corporation, Also Present: John K Muir (General Mgr) The meeting was called to order with Andrew Cousins acting as Chair, and Harrison Windeler acting as Secretary. With three of the four directors being present in person and Brenda Sedgwick not having a telephone, and thus not able to be found or given notice, the meeting was declared regularly constituted. An agenda was agreed upon and discussion followed. The purpose of this meeting was to review, amend and accept previous minutes for the passed year; and to review the budget for the current year. Previous Minutes; Upon a MOTION duly made, seconded and carried, be it resolved that; the minutes for: 30 November 1993, 3 December 1993, 18 February 1994, 25 March 1994, 12 May 1994, 26 July 1994, & 17 November 1994, be accepted as amended. It was noted at this time that minutes of the Corporation are available on the Internet through Trent University's computer system. It was also noted that a new minute book and corporate seal have been obtained from the Toronto firm of Dye & Durham at a cost of approximately $130.00 Current Year's Budget; The General Manager presented the budget for the Board's consideration (see attached). Discussion followed. Upon a MOTION duly made, seconded and carried, be it resolved that; the budget for the current year (ending 31 August 1995) be accepted as presented. It was noted at this time that the budget does not provide for; a) Any expenditure for major renovations or capital improvements b) Any revenues from fundraising or special events c) Recognition of any revenues or expenditure from a CROP grant submitted in January of this year. The Chair thanked the Board for their work this year, this being the last meeting of the Board before the Annual General Meeting. There being no further business the meeting was adjourned. ___________________________ _________________________ Andrew Cousins, President H J Windeler, Secretary ------ attachment follows ------- Trent Radio Operating and Capital Budget: Year end 1995 - Approved Actual to Budget to Actual & Actual 13-Jan-95 31-Aug-95 Budgetted Y/E 1994 Revenue CROP Grant 1994 9,399 0 9,399 3,089 Grants - Other 0 0 0 0 Donations 100 0 100 0 Memberships - Student 56,000 0 56,000 57,075 Memberships - Other 60 600 660 235 Fundraising/Special Events 0 0 0 980 Rental Income 2,340 3,318 5,658 5,369 Other Earned & Misc Revenue 273 425 698 2,556 68,172 4,343 72,515 69,304 Expense Employment & Contract 18,762 21,404 40,166 36,271 Publicity, Postage & Office 283 450 733 3,407 Telephone & Utilities 1,543 2,100 3,643 5,737 Broadcast Line & Eq Rental 784 750 1,534 1,841 Programming & Licence 498 750 1,248 2,424 Repair & Maintenance 1,343 1,600 2,943 9,699 Audit & Legal 0 1,750 1,750 1,450 Insurance 1,684 0 1,684 1,464 Travel & Hospitality 0 200 200 838 Interest, Bank Chrgs & Misc 1,581 2,253 3,834 4,747 26,478 31,257 57,735 67,879 Operating Surplus/(Deficit) 41,694 (26,914) 14,780 1,426 Capital: A/R Collected 3,095 3,095 Telephone System Financing 1,500 1,500 Technical Equipment Purchase (1,250) (500) (1,750) Telephone System Purchase (2,000) (2,000) A/P @ Y/E 1994 Paid (1,506) (1,506) Deferred Income Y/E 1994 (9,399) (9,399) Audit Fee Y/E 1994 (1,605) (1,605) Withholdings&Taxes @ Y/E 94 (1,471) (1,471) Mortgage Principal Repaid (600) (750) (1,350) (14,227) (260) (14,487) ----------- Cash at start of the year (01-Sep-94) (193) ----------- Cash at end of the year (31-Aug-95) 100 =========== prepared 21 January 1995 / jkm: rev 02