EC Meeting July 2017

General Secretary’s report July 2017.

5 Nominations of younger members.

Nominations have been received as follows.

GFTU Executive Committee

Callum Clapham, Bakers Food and Allied Workers’ Union.

Keeley Lipscombe, Transport Salaried Staff Association.

Christine Miller, Prison Officers’ Association.

Maddy Radcliff, Musicians’ Union.

Freddie Seale, GMB.

The BGCM suggested 4 seats for young members. We have five nominations. The purpose of creating these seats is to create a developmental opportunity for younger workers and to help them grow in their trade union roles. It would not in my view breach rule or the spirit of the decision at the BGCM to include all five nominees and avoid an election.

Educational Trust Trustees.

1 Charlotte Appleyard, Community.

2 Maddy Ratcliffe, Musicians Union.

3 Antonietta Toriello, Artist Union of England.

The Trustees accepted all of these nominations at their recent meeting.

6 Finances

6.1 GFTU

All of the relevant finance papers are attached.

We propose to disinvest our shares. We have asked Legal and General to recommend a short term investment vehicle for these. We have drawn down an amount from our portfolio to hopefully cover all our cashflow requirements to the end of the year. Planned staffing expenditure has been slightly reduced by the fact we are not appointing a full time ICT officer.

All affiliations moneys have been received.

The EC may want to give consideration to the subscription level, currently 98p.

The EC will note extremely good performance on our investments, 15%+ net of all fees. This is the highest ever and vindicates our decision to change fund managers within the context of more buoyant markets. The EC should be fully aware that even at its very best projects the new build income streams will not be near this amount, at best they are likely to be a quarter of this figure.

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