The George Morris Centre had a rough financial year, mainly because its investment portfolio sank with the recession to a low of $2.2 million.
But treasurer Bob Hunsberger reported that it’s on the mend, that revenues and expenses in the balanced budget for the current fiscal year were on target during the first quarter and the investment portfolio has made gains to $2.4 million.
The centre, which is Canada’s only independent think-tank for agriculture policy, lost $722,422. The investment loss was $548,933. Another big-ticket item was buying out the contract of its chief executive officer, but no specific figure is revealed in the annual report.
During the annual meeting, Douglas Hedley was introduced as the newest addition to the board of directors and Dan Laplain as a new associate, working with the Value-Chain Management Centre.
Hedley retired about five years ago as assistant deputy minister for financial services for the federal Agriculture Department. He is an agricultural economist and continues to work as a consultant and for the deans of Canadian veterinary colleges.
Laplain spent his career in quality assurance, including in the aviation and food industries. He has worked recently for Cavendish Farms, which is one of the potato-processing companies that dominates that sector.