December 2006 Board Meeting Minutes

Sri Henepola Gunaratana Scholarship Trust
2006-December-09 Minutes
Prepared by L de Zoysa

AGENDA

1. Review of financial status
2. Objectives / targets for 2007
a. Scholarship structure for 2007 - 2008
b. Activities and schedule for 2007
c. Problems and solutions identified
i. Secretarial appointment
d. 2007 Budget Estimate (income and expenses)

Present:
Dr. Percy Gunatilake
Mallika Samaranayake
Lakshmi de Zoysa
Ajith Colonne
Excused:
Anula Wijesundere. Excused. She is out of the country
Samarakone Bandara. He has immigrated to the U.S.A.
R. M. Amerasekera. Unable to attend.

Matters Discussed and Decisions:

1. The events over the last year were discussed and the financial
situation was presented by the Hon. Treasurer. All moneys of the
SHGST are maintained at the Commercial Bank in Sri Lankan Rupees:
Type of Account Balance
Savings Book Rs.116,689/00
Fixed Deposit #577547 Rs.3,000,000/00
Fixed Deposit # c/1 428100 Rs.900,000/00
Fixed Deposit # c/1 479985 Rs.213,735/00
Fixed Deposit # c/1 479987 Rs.2,024,517/28
Total Funds 6,254,941/28

2. The Board Members considered whether to invest a part of the capital
at the Finance Company, which gives higher returns and decided
against it, as the fixed deposits are safer.

3. Increase payments from 2007 onwards, as follows, because of high
inflation.
a. Up to O’Levels Rs.800/- per month
b. Up to A’Levels Rs.900/- per month
c. University Rs.1,000/- per month.

The Board noted that University students also get the Mahapola
scholarship from the Sri Lanka Government, which is Rs.1,000/- and
therefore an additional Rs.1,000/- is sufficient.

4. Increase the number of scholarship holders from 25 to 50, during the
year 2007.

5. Mr. Ajith Colonne forwarded a letter he had received from a Principal of
the Batuwangala Mahā Vidyālaya, Batuwangala Neluwa, in the Galle
District, where a student of his had studied. The Board decided that the
Trust was not ready to divert its activities to Galle at this time.

6. The Board recognized that the Members had each experienced many
personal problems during 2006 which had slowed down activities of the
Trust. In view of all the work that needs to be done, it was decided to
get a temporary assistant to work for the Trust.

7. The Board telephoned Ven. Devānanda of Henepola and it was
decided to go to Henepola on January Saturday 13th, 2007.

8. Ven. Devananda was asked to select 3 villages (gammāna) with a
majority of poor people.

9. Mrs. Mallika Samaranāyaka spoke to Ven Devānanda and explained
the participatory rural method and how we would like him to prepare for
our visit.

10. New contact details were shared, as follows: -
Lakshmi de Zoysa
30/46, Malalasekera Mawatha
Colombo 7.
Tel: Mobile: 077-960-4479
Mallika Samaranayaka
Mobile: 077-301-8098.