The AMS held its Annual General Meeting (AGM) over Zoom on Tuesday at 9 a.m.
The 2024 AGM meeting had three motions on the agenda including motions to approve the AMS’s financial statements and the AMS’s president and managing director’s reports.
This year's AGM mirrored the last in having minimal advertisement and only including motions required by AMS code, none of which need quorum to be passed.
According to AMS bylaws, a quorum at an AGM is achieved when the number of active members present is equal to or greater than 1 per cent of the active members or 500 active members, whichever is the greater number.
For the 2022 AGM, then-AMS President Eshana Bhangu offered $5,000 in prizes — a $500 tuition credit for 10 students — to students who attended. The meeting was the third in 40 years to reach quorum with over 1,100 students in attendance.
According to AMS President Christian ‘CK’ Kyle, this year’s AGM did not meet quorum. Like last year, the AMS did not offer any prizes to students. CK did not confirm the exact number of attendees by press time.
All three motions pass
After the motion to approve the AGM's agenda passed, CK and AMS Managing Director Justin Lieu provided updates on the work the AMS has done this year.
CK discussed the AMS’s approval and ongoing implementation of a three year financial plan to stabilize AMS finances in addition to the AMS’s completion of the first-ever review of the AMS Sustainability Action Plan.
Lieu discussed the AMS’s success in supporting bookings in the Nest while engaging in thousands of interactions with students across AMS events throughout the year. He also highlighted the substantial growth many AMS Services (like Safewalk and Food Bank) have seen in the past year in addition to the openings of new restaurants El Cartel and Fresh Slice in the Nest.
“These changes add guaranteed revenue for the AMS as well as offers new food options for students,” said Lieu.
The motion to approve the president and managing director's reports passed.
Next, Lieu talked about the AMS’s financial statements for the 2023/24 fiscal year. Lieu broke down the AMS’s revenues, which totalled $33,012,505. The largest source of revenue for the AMS came from AMS/GSS & Health and Dental Plan fees while, likewise, most AMS expenses went to paying for health and dental services.
Lieu also said the AMS was successful in reducing its annual deficit by $526,030 this year.
“This is the largest contribution to reducing our deficit in the last five years,” Lieu said. “We’re hoping to continue that trend.”
The motion to approve the AMS’s financial statements and auditors passed.
Executives updates
CK also presented some updates from AMS executives which discussed portfolio achievements.
CK highlighted the finalization of AMS policies PC1 and PC2 reviews to ensure the policies better “centre survivors.” Students have previously criticized the respectful workplace (PC1) and sexualized violence (PC2) policies for not being survivor-centric.
CK said former VP Academic and University Affairs Kamil Kanji secured a multi-year $800,000 commitment from UBC to various food security initiatives on campus, and said former VP Administration Ian Caguiat helped formalize processes to keep the Nest open 24/7 during UBC Exam periods.
CK also said VP External Ayesha Irfan successfully oversaw events to help students “engage fully” with this year’s provincial election, and former VP Finance Abhi Misra made “significant strides towards the AMS’s long term financial stability.”
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