CIDI BOARD REPORTS SIGNIFICANT PROGRESS AT AGM

CIDI 99.1 FM held its Annual General Meeting recently, attended by about thirty CIDI members. Eamon Hoey the station’s Board Chairperson reported on the progress to turn around the station. 

He informed members that, in the last 24 months, the station has reduced its current and long-term debt obligations by almost $50,000. That represents a reduction of almost 40% of the inherited debt . Revenue has increased by $9K and expenses have been reduced by $3.5K. Repayment of debt accrued prior to August 2015 represents a significant portion of the current expense. Annual deficit has been reduced from $65K in 2015 to $643 in 2017.

Hoey said “We are making significant progress on governance. The lack of appropriate governance was one of the prime reasons the station faced near collapse in 2015.”

Hoey outlined the Board’s Six Strategic Imperatives for 2017-2019. Key imperatives are: improve CIDI’s broadcast signal and geographic reach; continue to improve our Governance; reduce the debt while increasing revenues; and attract more volunteers to perform some of the station’s operational tasks. 

CIDI needs more volunteers to perform the behind the scenes technical tasks, act as program hosts, researchers, and program directors. No experience is required as we will provide the training. We also need a person to help us with writing grant proposals. 

If you are interested in playing a role in CIDI’s renaissance please call Marilyn at 450-305-1195.