Annual Report and Audited Financial Statements 2011 - The Kenya ...

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Minutes of the 45th Annual General Meeting The Chairman invited the Secretary to read the Notice convening the 45 th Annual General Meeting of the Institute. MIN. 2/AGM/2011: ADOPTION OF THE MINUTES OF THE LAST ANNUAL GENERAL MEETING The Minutes of the 44 th Annual General Meeting held on Wednesday, the 11 th day of August, 2010, having been earlier circulated to all members, were confirmed as a true record of the proceedings and adopted on a proposal by Mr. Morara Anderea, and seconded by Mr. Rutto Josiah subject to the correction of the Name of the Chairman to read Dr. Arch. Reuben Mutiso. MIN. 3/AGM/2011: ADOPTION OF THE CHAIRMAN’S REPORT ENDED 31 ST DECEMBER 2010. The Chairman read the Council Report, which was appended to the Annual report and formed part thereof, it had the following highlights:- (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) During the year under review, the Institute took management and leadership capacity building services to the Gambia, the Democratic Republic of Congo, Southern Sudan, Rwanda and Tanzania thereby achieving massive expansion outside Kenya. The Organizational Performance Index (OPI), a global excellence tool, was formally launched thus giving a new standing to the respected company of the year Awards (COYA) as the new yardstick for the awards. The Institute is now geared to take the Organizational performance Index (OPI) to the rest of Africa. To this end, partnership with a Tanzanian association has commenced, and dialogue with the Africa Leadership Forum (ALF) of Nigeria is in progress. The Institute has applied for recognition of Organizational Performance Index as a global excellence model by the Global Excellence Model (GEM). The first Governance, Leadership and Management Convention was held in Mombasa. There was high level participation by business leaders and Government officials, both local and from Ghana, Sudan, Uganda and Nigeria. In the month of June, there was remarkable attendance by distinguished leaders, such as H.E Chief Olusegun Obasanjo, the former President of the Federal Republic of Nigeria Local leaders, such as the Vice President Hon. Kalonzo Musyoka amongst others, were also in attendance. The Institute hosted the 2nd Education Conference by the KIM School of Management. There was a good regional representation from the Great Lakes Countries. The papers presented have been published to form the Journal of the Institute. The journal will enrich thoughts on the linkage between education and Industry, while also providing academic and intellectual professional growth and excellence. The Institute participated actively in the Constitution making for the Country by organizing and sponsoring 15 special forums around the country. This was aimed at providing education and help Kenyans understand the contents and to make independent decisions in the referendum. The Institute has positioned itself strategically to make professional interventions and provide education in the implementation process on the basis of its core competences and business focus. The Institute has continued to engage with the Commission for Higher Education owing to the impending Sponsorship of the Management University. The Letter of Interim Authority is about to be issued, thus making the dream of the University a reality. The Memorandum and Articles of Association were revised and adopted. Both the Council and Branch elections were held on the basis of the revised document. The alignment of the branch structure and network, and the harmonization, is also to be done under the new governance structures. 8 Annual Report and Audited Financial Statements 2011
Minutes of the 45th Annual General Meeting (x) The institute has participated in Corporate Social Responsibility interventions which included book donations to schools for the needy, blood donations and environmental conservation exercise. The Chairman’s Report was adopted on a proposal by Mrs. Salome Gitoho and seconded by Mr. Mwai wa Kihu. MIN 4/AGM/2011: ADOPTION OF THE EXECUTIVE DIRECTORS REPORT FOR THE YEAR ENDED 31 ST DECEMBER 2010 The Executive Director read the Management report as appended to the Annual Report and Audited Financial statements for the year 2010. The main highlights of the report and Financial Statements were:- (i) (ii) That as a membership organization, the management has embarked on quality membership service with emphasis on Continuous Professional Development ( CPD) and other various activities and events in all branches across the Country. The Management has continued to identify gaps and to develop so as to provide solutions to customers in the core business of governance, leadership and management. (iii) The Management has placed emphasis on efficiency and effectiveness in customer care and service. (iv) The Management Magazine has been revamped and re-launched to make it the East Africa’s premier business (v) management and leadership monthly. This has not only served members as a reliable forum for management and leadership, but has also raised the Institute's profile and respectability. There have been public forums for members across the country. In Nairobi, there were seven (7) public forums, an annual dinner and a golf tournament in addition to the other activities, such as the graduation at the school of Management, a vibrant conference, the convention, the COYA /gala night, the KABA. The average is one key event in Nairobi per month, with several others at the branches. (vi) The institute has entered into partnerships and collaborations with like-minded Institutions. The Africa Leadership Forum of Nigeria has joined with the Institute to support the convention, and the University of South Africa has collaborated with KIM to get into an arrangement to offer Doctorate programs in Business Leadership. (vii) On the financial platform, the Institute has continued to embrace prudent financial and business management practices with a turnover of 20% growth compared to the previous year. The growth is driven by increase in student numbers, professional fees from Centre for Enterprise Development and advertisement sales from Media Services Unit. The turnover stood at Kshs. 962 Million with a surplus of Kshs.75 Million up from Kshs.66 Million representing an improvement of 14%. (viii) The direct costs increased by 20% from the previous year. This increase is attributable to lecturers fees as a result of an increase in student numbers. In terms of costs to turnover, there was therefore a slight increase from 35% to 37%. Staff benefits and membership reserves increased by 74% as a result of providing for an additional Kshs. 9.6 Million in staff benefits. (ix) Accumulated revenue grew by 24% following a Net surplus of Kshs. 75 million achieved. On a proposal by Mr. Richard Gikuhi and seconded by Mr. Joseph Nyutu the Report was Adopted. Annual Report and Audited Financial Statements 2011 9
Page 1 and 2: Annual Report and Audited Financial
Page 3 and 4: Table of Contents KIM Officials 2 N
Page 5 and 6: Notice of the Annual General Meetin
Page 7: Minutes of the 45th Annual General
Page 11 and 12: Minutes of the 45th Annual General
Page 13 and 14: I am glad to present to you the Ins
Page 15 and 16: Corporate Information (Continued) P
Page 17 and 18: Corporate Governance Report The Gen
Page 19 and 20: CSR REPORT 2011 Corporate Social Re
Page 21 and 22: ORGANISATIONAL PERFORMANCE INDEX (O
Page 23 and 24: Independent Auditor’s Report To t
Page 25 and 26: OUR BELIEF, A BETTER KENYA OUR DREA
Page 27 and 28: Statement of Financial Position for
Page 29 and 30: Statement of Cash Flows for the yea
Page 31 and 32: Notes to the Financial Statements f
Page 47 and 48: Total Turnover 2007 - 2011 in Kshs
Page 49 and 50: cut here Proxy Form THE 46th ANNUAL
Page 51 and 52: Annual Report and Audited Financial

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