Annual General Meeting

Ordinary Resolution 1 – To receive and consider the profit and loss accounts and balance sheet and the Directors and Auditors’ Reports for the year ending 31^st December 2019

This resolution seeks to approve the Association’s year end accounts for December 2019 and the Auditor’s report for the last year, full details of which can be found in the AGM brochure.

Ordinary Resolution 2 – To approve subscriptions for Members and Patrons for 2021

The second resolution proposes a freezing of all subscriptions for Members and Patrons for 2021. This subscription freeze follows a four-month fee moratorium from April to August of this year, which saved each firm a minimum of £240 throughout the peak of the lockdown period.

Ordinary Resolution 3 – To receive and approve the Group Budget for the year ending 31^st December 2021

The NACFB Board have proposed a budget for the coming year, full details of which can be found in the AGM brochure.

Ordinary Resolution 4 – To appoint Auditors UHY Hacker Young as auditors for the financial year ending 31^st December 2020

The Board proposes to reappoint auditors UHY Hacker Young for the year ending December 2020. The team at UHY Hacker Young have audited the NACFB for the last four years and it is proposed they continue this relationship until the Association transitions from the COVID pandemic.

Ordinary Resolution 5 – Extending the tenure of the Chair and Vice-Chair for a term of between three and five years

To ensure continuity, it is proposed that Paul Goodman and Adrian Coles be extended in their current positions of Chair and Vice-Chair respectively. This extension would be for a minimum of three years but no longer than five. Their departure will be staggered by six months to ensure their replacements have sufficient time and space to settle into their new roles. The Chair, the Vice Chair and the Red Team have established a way of working that really delivers – to the team, the Members, Patrons and the Association. This team needs to be left in place for at least three years so that they can continue to deliver their projects through to completion.

The Chair instigated some rapid changes at the beginning of the pandemic, utilising the situation to bring in new ways of working. This included the establishing of an operational ‘Red Team’, made-up of Board Directors with the aim of reacting to market changes in a more agile manner. This has worked incredibly well. It has successfully navigated the NACFB through the myriad challenges the Association has faced so far.

Ordinary Resolution 6 – To approve a  revised Board structure with changes to the NACFB’s Articles of Association

Whilst the Board have remained flexible and agile in 2020, it is important that some longer-term stability is built into the structure, to ensure that many of the current and aspirational projects and plans come to fruition. The proposed changes will also see a smaller Board of Directors. The Board will be complemented by two distinct advisory groups, one made up of Members and the other of Patrons. Both the Member Advisory Group (MAG) and the Patron Engagement Group (PEG) will provide a new platform to increase levels of engagement which will be central to the new way of working.