CAP 2020 Executive Update
CAP introduced the New Membership Dues Structure April 1st, 2018. This consists of two tiers A & B,
- Tier A–US $50 per year for the following countries: the Commonwealth of the Bahamas, the Cayman Islands, the British Virgin Islands, Barbados, the Republic of Trinidad & Tobago, St. Maarten, Aruba, Curacao, Turks and Caicos Islands, Bermuda and other countries outside of the Caribbean country.
- Tier B -US $30 per year for the following countries: Anguilla, Jamaica, Grenada, Guyana, St. Vincent and the Grenadines, Antigua and Barbuda, St. Kitts and Nevis, Belize, Suriname, the Republic of Haiti, St. Lucia, Dominica and Montserrat.
CAP has 1032 total members on our register. We began an assessment of the status of these names, at our Special Meeting in May, and the process continues.
The past administrative year 2019/20 we added 53 new members, 3 new Corporate Members, and an overall total of 7 new student members (this figure fluctuates).
New figures will be available after this conference.
Summary of Financial Position as at March 31, 2020
|Investments (Funds held in Short-term deposit)||$101,000|
|Total cash and cash equivalents||$142,300|
Summary of Income and Expenditure April 1, 2019 to March 31, 2020
CAP recorded net gains from all three events executed in the 2019-2020 financial year.
We recorded an increase in overall income by 20% and a reduction in expenses by 30%, compared to the previous year.
Innovative strategies such as: hosting our Spring event via a cruise; hosting our conference in Orlando, digitizing the CAP Journal; collaborating with the University of the West Indies to host our 2019 Winter Meeting; and increased cost-sharing initiatives by Executive Members, facilitated a rebound from the previous year’s net loss.
The year 2019-2020 however, reported a 48% reduction in income from membership.
CAP retains an office in Jamaica and accounts for the business operations of that office.
CAP provides stipends for two part-time volunteers.
The CAP credit card has a $10,000 limit with 2 signatories.
CAP remains in a strong position, poised to meet all financial obligations and projections for the financial year ending March 31, 2021.
Audited statements will be provided this fall, via official notice by the CAP Office.
It is managed by FSH Design (CAYMAN) who are on a monthly retainer to update and maintain the site.
In 2019/20 the site saw much more activity and a marked increase in content.
CAP members can expect this to continue with the roll-out of our CAP App before 2021.
CAP operations will primarily be driven and accessed via the website.
The model of revenue generation from the website revolves around leveraging the Sponsorship of the CAP meetings into a 24/7/365 approach via the website.
It is critical that members visit and utilize the site and its many resources.
Special Meeting of May 2020
As mandated by the Constitution, the Executive Council of the Caribbean Association of Pharmacists convened a Special Meeting on Monday 25th, May 2020 at 6pm (EST). This meeting was held at Building A of the Public Hospitals Authority Corporate Center, 3rd Terrace Centerville, Nassau, Bahamas.
A quorum not being established, the meeting was suspended and reconvened by President Dr.Marvin Smith on Tuesday 26th, May 2020 at 6pm (EST) at the same location. Members that were unable to attend physically, did so via the ZOOM online platform provided and submitted a form of Proxy to those who did attend.
The Resolution for discussion was placed on the agenda.
The discussion and vote on the resolution was chaired by 2nd Vice-President Samantha Conolly, who was appointed by the President to act as the Parliamentarian for the meeting.
The Resolution was passed by an overwhelming majority. The report of the meeting was circulated to all members via email, posted to the website, and circulated via social media.
This resulted in the postponement of the 2020 AGM and Election of Officers until 2021.
CAP will present recommended changes to our Bylaws to provide alternatives for business sessions and voting.
Additional ideas will also be considered.
Member forums (hosted via our CAP virtual platform) will commence before any changes are formally presented
CAP needs your effort and expertise. There are various committees…tell us what you like to do.
COVID-19 will NOT slow us down
Make our website a regular site to check. Encourage other colleagues to join. Run for office next year.