Board Orientation Manual 2024

4. BC Games Society’s Audited Financial Statements for 2022/23 Jim Martin outlined that The Audit Committee met on May 3 and 4, 2023 to discuss and review the Audited Statements as presented by the Auditor. It was noted that the Audit Committee does a thorough review of our financials and that this independent review and examination helps validate the process. Jim noted that Francis participated in these meetings as he will assume the Finance Committee Chair position going forward. The Auditor had very few notes to the audit and the process. The one-time funding that came in at the end of the year caused some challenges with getting those funds out the door and required some revisions to the audited statements at the last minute. The Finance Committee met on May 5, 2022 and reviewed the Audited Statements and passed a motion recommending approval of the Audited Statements by the Board and discussed the following: • The surplus of $325,000 carried froward from the previous fiscal has been applied. • The $300,000 showing as internally restricted for this year is the amount allocated for software redevelopment, for which permission to pay from retained earnings has been received from government. MOTION: Rai/Remesz That the Audited Financial Statements for the BC Games Society for the fiscal year 2022/2023 are approved as recommended by the Audit Committee and the Finance Committee. CARRIED 5. Prince George 2022 BC Summer Games Society’s Audited Financial Statements The audited statements for the Prince George 2022 BC Summer Games were presented noting that our organization receives these for information only, the Prince George Board reviews and approves these statements. It was also noted that the audit was qualified because some documentation (i.e. cancelled cheques, clarity on the approval process) for some transactions could not be supplied. The auditor made it clear that they are not saying that there was any wrong-doing, only that they could not find clear paper trails for all transactions they examined. MOTION: Martin/Densmore That the audited Financial Statements for the Prince George 2022 BC Summer Games are accepted as presented. CARRIED 6. President and CEO Report Alison noted that this past year allowed us to return to Games with the opportunity to stage and support the Prince George 2022 BC Summer Games; Niagara 2022 Canada Summer Games; PEI 2023 Canada Winter Games, and Greater Vernon 2022 BC Winter Games. It was an unprecedented schedule of Games within a short time period but it allowed, once again, for exceptional sport experiences for young athletes and their coaches. Planning continues to move forward with work well underway for the Lhtako Quesnel 2024 BC Winter Games and just beginning for the Maple Ridge 2024 BC Summer Games. Engaging with Indigenous communities across the province has continued to be successful with both Prince George and Greater Vernon developing strong partnerships that resulted in a strong presence at events and celebrations. In Quesnel, the strong relationship with the local First Nation has led to a renaming of the Games to Lhtako Quesnel 2024 BC Winter Games.

Annual General Meeting Minutes – May 10, 2023

Page 2