Dipac

Initially, start-up funding resulted from an appeal to those pensioners with whom the fledgling organization was able to establish contact during the years 2003-2005. Individuals contributed varying amounts thus enabling a variety of activities. Primary among these was creation of a "contingency" fund for exceptional circumstances, as well as the issuing and distribution of a series of Communiqués during this time frame. The printing and mailing of Communiques has been the most significant expense in this period.

This start-up funding has put the organization on a reasonably solid base from which to launch the path forward that is contemplated. Consideration has been given to the individual contributions received during the period prior to formalizing the organization, with the decision that this fund raising effort be treated as a "closed book" in the context of the planned future. This permits the available funds to be treated as a reserve against the possibility that some initiative, such as litigation, might become necessary at some future date and, with such funds on hand, the raising of additional funds will involve less urgency.

The adopted concept presumes that these contributions were made "in good faith", and those individuals who provided this support are to be commended. The intent was to create a visible and viable entity which would act in the interests of pensioners and this has been largely achieved. On that basis, the question of the ongoing funding of DIPAC, will be treated independently from the earlier contributions that were made. All individuals who elect to be Active Members of the restructured association will be required to Register and to remit annual dues.

Thus looking forward, as a non profit organization, ongoing DIPAC operational funds will originate with those who elect to Register as Active Members and thus proactively support the organization. And the initial DIPAC Current Account Balance will remain available, supplemented as necessary, to support any extraordinary initiative that might be warranted. The scope of DIPAC activities will be broadened with involvement in efforts in concert with other pensioner associations. And equally importantly, the association will continue to monitor the Pension Plan and pensioner Other Benefits, and to maintain the internal communications program that has been operative.

These provisions will require that the formal funding process be incorporated into the DIPAC By-Laws adopted by the association. These By-Laws will call for individuals to annually register with the association and remit the stipulated annual dues. The amount of the annual dues will be as specified in the By-Laws, and will be defined such that they should be within the affordable budget of most, if not all, retirees. Where this amount represents a problem, on written request by the individual, the Board will have authority to waive the applicable fee.Individuals having financially contributed to the association's formation will be exempted from the requirement to remit annual dues with respect to the inaugral, or first year, of a formal association status. Thus for the balance of 2006, and for 2007, all such individuals are categorized as Active Members with the only requirement being submission of a completed Registration Form so that records may be up-dated. Beyond 2007 the annual Registration and Dues submission will apply to all who elect to maintain Active Member status

At any time the current DIPAC Financial Statement will be available to those who have registered as Active Members. However this availability will be restricted to those having created 'password protected' access. This arrangement is considered appropriate since knowledge of the association's financial status could create a disadvantage for the association if it were contemplating or actually involved in litigation. Knowing the limitations of DIPAC's finances might result in opponent strategies designed to financially weaken the organization such that the litigation be abandoned.

To access the Financial Statement(s) please create your personal Log In capability and use the link provided.