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An occasional newsletter from the Honorary Secretary
Since the last issue of EAB Update in May I can report some progress in the process of relocation. The sale of 140 Holland Park Avenue is proceeding and by the time that this reaches you, contracts should have been exchanged The final price agreed is £927,000 out of which must come the legal and professional fees.
The procedures to which a charity must adhere have been closely followed. Much of the work in connection with the selling has been done by Management Committee member, Fraser Dunbar.
After much thought it has been decided, subject to a satisfactory contract, to relocate the office as well as the Butler library to Wedgwood Memorial College (WMC) Barlaston. It will take quite a while to draw up a contract which safeguards the investment by EAB in construction of the new premises. In the meantime the office and book service and bendoteko will be temporarily located in Ipswich in part of the premises of another charity of which I was the founder and am now a trustee. We will pay a modest rent of £3,000 pa on a weekly basis. See the box for new address details.
201 Felixstowe Road
Ipswich, IP3 9BJ
Martyn, our loyal and long serving office manager, has decided to take early retirement rather than relocate. The ManCom is giving Martyn compensation considerably above the statutory redundancy requirements. However there is no disguising the fact that Martyn's expenses will be higher on leaving his rent free accommodation at 140. Therefore it was thought that members of EAB would welcome the chance to contribute to a Presentation Fund on the occasion of Martyn's retirement, which will happen at the end of September. Please see the slip at the end for details of where to send your contribution.
[EAB Update No. 3 Page 2]
This was the longest ever committee meeting in the history of EAB. It took place at WMC from 8pm on Friday 17 July and finished at 12 noon on the Sunday with short intervals for eating and sleeping! The minutes are too long to reprint in full and so there follows a resume of the main points:
2. Space and fittings needed for new office and library premises.
4. Redundancy payment for full time and part-time office workers.
5. The sale of 140 Holland Park Avenue.
6. Report by the Director of WMC on its history and future.
7. Decided not to buy a new computer yet.
8. Temporary relocation to Ipswich.
9. Future role of 'Office Administrator'.
10. Publicity/Marketing. Paul Gubbins lead a brainstorming session. We agreed that in future enquirers will receive a sample copy of LBE and EKo.
11. A policy is required for the Butler Library, in respect of the binding of foreign publications and purchase of new books.
12. Investment Policy (this minute follows in full as we are of the opinion that every member should know about it).
Following the sale EAB will have a large amount of capital. This has been built up over the years due to the foresight (or luck) of generations of earlier members. This liquid capital will be now available to secure the financial future of EAB. But there is also a negative side to having this amount of capital available. Without great care and attention it could easily be frittered away in a relatively short period of time.
It is important that the membership knows that we have seriously and prudently considered how we are going to use our assets. This will also hopefully give confidence to those who were against the sale of the present centre. Therefore it would be advisable for us to adopt a broad policy of intent which should be distributed to the members. Here is a suggested policy of intent.
1. The Management Committee of EAB view this newly available capital as an "inheritance" which must not be frittered away.
2. Professional fund managers should administer and advise the trustees in all aspects of administration bearing in mind the following:-
a/ The capital should be invested and used in such a way that it broadly retains its value in real terms.
b/ The fund managers should advise the ManCom on what can be spent each year to maintain 'a/'.
c/ In cases of special need an additional sum of up to 5% of the value of the capital may be spent in any year on condition that no more than 10% of the capital is spent in any 5 year period.
d/ Security of the capital will be a prime consideration in the investment policy.
We authorise our Hon. Treas. to rationalise and amalgamate our existing small investments and to invest the proceeds of the sale of 140. The total value of our capital has to be invested in accordance with charity law. See booklets CC14 and CC32. Within these parameters, we request Joyce to try to invest approximately equally in High Income/Low Growth and Low Income/High Growth, taking professional advice as to when is the best time to take money out of deposit accounts and buy equities or unit trusts. For ease of administration and receiving income gross (no deduction of tax) special charity unit trusts exist.
13. Derek Tatton to be liaison office with the architect at Stoke on Trent.
14. Opening ceremony at Barlaston.
15. Publicity. Detailed report by David Bisset.
16. Request by JEB for £1,000 as 'risk capital' for a JEB week in Scotland.
17. A future strategy for EAB.
18. Request by Angela Tellier to use suitable contents of past issues of LBE in producing a history of Eastern Federation.
19. We decided to disband the Konsila Komisiono and encourage members to communicate their hopes, fears and suggestions direct to the Hon. Sec.
20. Problems of the Esperanto Teachers Association.
21. Applications for Fellowship of EAB status.
22. Request for a donation. Turned down, being outside our competency.
As you can see, it was a hard working weekend but all the committee thought that it was worthwhile and we agreed that we should each year have one weekend residential committee meeting at which issues can be looked at in greater depth than is possible at the usual Saturday meetings.
[EAB Update No. 3 Page 3]
Book sales will be handled from the temporary office with effect from 1st September with the rest of the operations to follow during mid-September.
We shall certainly be vacating the London office during the next two months but book orders, queries, payments etc should, from 13th September, be addressed to the Ipswich office. Mail will be forwarded to the new address and a recorded message will give the new telephone number. (Unfortunately in English only due to BT requirements).
Extensive consultations are taking place with the Wedgwood Memorial College, Barlaston architects and management, and between EAB's legal representatives and those of the College and local authority. Any agreement which is finally reached will safeguard the interests of both parties.
Arrangements are in hand to move the Butler Library into temporary storage in or near Stoke-on-Trent. EAB's librarian has been consulted and his advice taken as regards the exact procedures for packing etc.
[Out-dated "Special book offer"]
[EAB Update No. 3 page 4]
[Out-dated details of the 4th European Congress in Ostend]
[Out-dated "Universala Kongreso" cheap flights to Tel Aviv]
[Out-dated "Martyn McClelland Presentation Fund" donation form]
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[Reiri al EAB Ĝisdate (arkivo)]