EBF General Members' Meeting 10th of September 2012

General Members’ Meeting

10th of September 2012 Date: Location: Huis de Beurs, A-Kerkhof Zuid Zijde 4 19.30 (welcome at 19.00) Start: Sub-associations of the EBF:

2012-09-10 voorkant.indd 1

24-8-2012 11:25:59

Preface Groningen, 29th of August 2012

Dear EBF Members,

We are delighted that all EBF Members took the opportunity to participate and organise the EBF Activities in the past year. Among them, 180 active members have put their effort in organising all of these activities. Furthermore, seven board members have enjoyed a year full of organising activities and interacting with our active members. We hope to have contributed to the EBF as a whole and made this year a great success for all EBF Members. During the year we have focused on, among others, internationalisation, digitalisation, the Membership Value Card and the community of the EBF. In the past months we have tried to transfer all of our knowledge about the EBF to our successors.

The EBF Board 2012-2013 is fully dedicated and willing to experience a great year. All of their effort in the past months convinced us of their motivation and dedication for next year. We are confident that they will do a great job.

During the General Members’ Meeting on the 10th of September we will discuss the achievements over the past year, the discharge and appointment of the EBF Board and the policy plans of the EBF Board 2012-2013. Based on the results of the survey during the Half-yearly General Members’ Meeting we will conduct this meeting in English. It will also be your chance to ask critical questions or suggest changes that you think suit the EBF best. We are looking forward to your feedback and suggestions.

We hope to welcome you at our General Members’ Meeting on the 10th of September in Huis de Beurs in Groningen. The meeting will start at 19.30 sharp and you are welcome from 19.00 onwards to start with a coffee or tea.

Kind regards, On behalf of the EBF Board 2011-2012,

Eva Kool Chairman EBF Board 2011-2012 2

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Table of Contents Preface

2

Agenda

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Task division EBF Board 2011-2012

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Task division EBF Board 2012-2013

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Discharge EBF Board 2011-2012 and appointment EBF Board 2012-2013

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Discharge Audit Committee 2011-2012 and appointment Audit Committee 2012-2013

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Discharge Committee that leads the General Members’ Meeting 2011-2012 and appointment Committee that leads the General Members’ Meeting 2012-2013

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Minutes Half-yearly General Members’ Meeting dated 19th of March 2012

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Yearly Report EBF Board 2011-2012

40

Report Audit Committee 2011-2012

68

Yearly Financial Report EBF Board 2011-2012

70

Policy EBF Board 2012-2013

100

Financial Policy EBF Board 2012-2013

108

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Agenda Yearly General Members’ Meeting of the Economics and Business student Faculty association Groningen Date: Time: Location: 1.

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10th of September 2012 19:30 Huis de Beurs, A-Kerkhof Zuid Zijde 4, Groningen

Opening Announcements and incoming documents Establishment of the agenda Approval of minutes from the Half-yearly General Members’ Meeting dated 19th of March 2012 Establishment Yearly Report EBF Board 2011-2012 Establishment Yearly Financial Report EBF Board 2011-2012 Discharge EBF Board 2011-2012 and appointment EBF Board 2012-2013 Round of questions I Discharge Audit Committee 2011-2012 and appointment Audit Committee 2012-2013 Discharge Committee that leads the General Members’ Meeting 2011-2012 and appointment Committee that leads the General Members’ Meeting 2012-2013 Establishment Policy EBF Board 2012-2013 Establishment Financial Policy EBF Board 2012-2013 Any other business Questions Round of questions II Closure

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Task Division EBF Board 2011-2012 dated 10th of September 2012 Eva Kool Chairman

• • • •

Alumni (aEB Foundation and committee) EBF Conference (second supervisor) Faculty of Economics and Business Focus points

• • • • • •

Mariska Kapelle Vice-chairman

Sophie Paulides Promotion & Secretary

• • • • •

Archive Articles of Association and Rules of Procedure Association Council Board of Advice Christmas Ball CUOS ESR May

• • • •

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Agenda Almanac EBF Style Lustrum (first supervisor) Membership Administration

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Honours Forum Lustrum (second supervisor) Management of the building Mastercommunities Positioning: Vision, mission & strategy Sub-associations

FVOG IBR (Chairman foundation) Legal issues Positioning: Vision, mission & strategy Quest Sister associations Study Support

Planning Promotion Team Promotion Support Committee (first supervisor) Website

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Martinus van der Wal Treasurer

• • • •

Financial Administration Financial Policy IBR (second supervisor) Insurance

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Francine Tol Internal Relations

• • • • •

Activity Committee Award ceremonies ESR December Informational Activities Internal Communication

•

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Acquisition Team Advertisements Agenda Advertisements Prospect Magazine Consulting Event

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Business Class Cold acquisition Digitalisation EBF Bachelor Symposium EBF Conference (first supervisor)

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Ewoud Helder Commercial Relations I

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Harmen Claassen Public Affairs & Commercial Relations II

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Recruitment Days (second supervisor) Support Committee (second supervisor)

International Activity Workgroup Introduction Committee Recruitment

Dutch Inhouse Tours Membership Value Cards Recruitment Days (first supervisor) Sponsoring

International Symposium Prospect Magazine (Chief Editor) Speakers Team Technology Consulting Day Working area & ICT

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Task Division EBF Board 2012-2013 dated 10th of September 2012 Roderik Jongbloed Chairman

Advisory Councils Alumni (aEB Foundation and committee) EBF Conference (second supervisor) Faculty of Economics and Business

• • •

• • • •

Archive Articles of Association and Rules of Procedure CUOS ESR May FVOG IBR (Chairman foundation)

• • • • •

Legal issues Membership Administration Sister associations Planning Positioning: Vision, mission & strategy

• • • •

Financial Administration Financial Policy IBR (second supervisor) Insurance

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Recruitment Days (second supervisor) Support Committee (second supervisor)

• • • • • •

Agenda Award ceremonies EBF Style ICT Informational Activities Information Systems

• • • • • •

• • • •

Nicole Lodder Vice-chairman & Secretary

Aaron van Gils Treasurer

Bas Boekema Promotion & Website

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Focus points Management of the building Positioning: Vision, mission & strategy Sub-associations

Mastercommunities Nestor, Newsletter & SMS Promotion Promotion Team Social Media Website

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Jerrel Sloote Internal Relations

• • • • •

Activity Committee Activity Portfolio Christmas Ball ESR December Human Resource Management

• • • •

International Committee Introduction Committee Personal Development Recruitment

Niels Oskam Commercial Relations

• • • •

Acquisition Acquisition Team Advertisements Consulting Event

• • • •

Dutch Inhouse Tours Information Systems Mastercommunities Recruitment Days

Merel Koppen Study Manager & Public Affairs

• • • •

Activity Portfolio Business Class EBF Bachelor Symposium EBF Conference (first supervisor) EBF International Symposium

• • • • • •

Honours Forum Quest Speakers Team Study Support Support (first supervisor) Prospect Magazine (Chief Editor)

•

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Discharge and appointment EBF Board Groningen, 29th of August 2012 Dear members, Hereby the EBF Board 2011-2012 proposes to discharge: • • • • • • •

Eva Kool (Chairman) Mariska Kapelle (Vice-chairman) Sophie Paulides (Promotion & Secretary); Martinus van der Wal (Treasurer); Ewoud Helder (Commercial Relations I); Francine Tol (Internal Relations); Harmen Claassen (Public Affairs & Commercial Relations II).

and to transfer their tasks and obligations to the new board members. After the discharge the new board members will become the EBF Board 2012-2013 as follows: • • • • • • •

Roderik Jongbloed (Chairman); Nicole Lodder (Vice-chairman & Secretary); Aaron van Gils (Treasurer); Bas Boekema (Promotion & Website); Niels Oskam (Commercial Relations); Jerrel Sloote (Internal Relations); Merel Koppen (Study Manager & Public Affairs).

This proposal is considered at the General Members’ Meeting on the 10th of September 2012.

Kind regards, On behalf of the EBF Board 2011-2012,

Eva Kool Chairman

Sophie Paulides Promotion & Secretary 12

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Discharge and appointment Audit Committee Groningen, 29th of August 2012 Dear members, Hereby the EBF Board 2012-2013 proposes to discharge: • Tim van Oorschot • Hans Dijkhuizen • Bas Schram • Joeri Schasfoort from their tasks and obligations regarding the Audit Committee 2011-2012. The EBF Board proposes to allow: • Hans Dijkhuizen • Bas Schram • Joeri Schasfoort • Martinus van der Wal to take place in the Audit Committee 2012-2013.

This proposal is considered at the General Members’ Meeting on the 10th of September 2012.

Kind regards, On behalf of the EBF Board 2012-2013,

Roderik Jongbloed Chairman

Nicole Lodder Vice-chairman & Secretary

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Discharge and appointment Committee that leads the General Members’ Meeting Groningen, 29th of August 2012 Dear members, Hereby the EBF Board 2012-2013 proposes to discharge: • Kelly Rullens • Diederik Langenberg • Joram Kok from their tasks and obligations regarding the Committee that leads the General Members’ Meeting 2011-2012. The EBF Board proposes to allow: • Diederik Langenberg • Joram Kok • Eva Kool to take place in the Committee that leads the General Members’ Meeting 2012-2013.

This proposal is considered at the General Members’ Meeting on the 10th of September 2012.

Kind regards, On behalf of the EBF Board 2012-2013,

Roderik Jongbloed Chairman

Nicole Lodder Vice-chairman & Secretary

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Minutes from the Half-yearly General Members’ Meeting dated 19th of March 2012 General Members’ Meeting of the Economics and Business student Faculty association Groningen Date: Time: Location:

19th of March 2012 19.30 Het Heerenhuis. Spilsluizen 9, Groningen

Presence list:

Eva Kool, Mariska Kapelle, Francine Tol, Sophie Paulides, Martinus van der Wal, Ewoud Helder, Harmen Claassen, Nick Bink, Bas de Vries, Joeri Schasfoort, Nicole Lodder, Ilse Spoelstra, Mike Kruijer, Jolanda Mars, Torben Bethke, Niels Oskam, Kirsten Jager, Sander van ’t Hof, Jeanelle Midavaine, Nynke Jongstra, Yiling Zhang, Bertine Riezebos, Marriël Edzes, Stefan Kapell, Joram Kok, Martin van der Meulen, Anke Smilde, Sam Peetsold, Elias Schotsman, Pieter Lindeman, Bas Schram, Hans Dijkhuizen, Thijs Visscher, Paul Donders, Mechteld Korse, Maarten Peters, Wessel Exterkate, Stan Graumans, Fleur Mulder, Rutger van der Kam, Luud Coenen, Celine Göbel, Lea Hamann, Wouter Joustra, Alexander Osinga, Merel Koppen, Carolina Castillo Werna, Marcella Vermeij, Diana Pagila, Sebastiaan Wijsman, Inez van der Vet, Bas Boekema, Jannes van der Wal, Frank van Loo, Esther Groenert, Hester Notenboom, Gjalt Eersteling, Graciëla Hoogendoorn, Helen Vonk, Steven Verhoeven, Rick Lotterman, Sophie van den Arend, Angelina Bouwman, Dirk van den Belt, Folkert van Zanten, Dianne Warmelink, Rian Brackel, Leonie de Zeeuw, Sander de Vries, Erik de Jong, Lucienne Schobben, Petra Schrijver, Hadewich de Roo, Marieke de Ruijter, Nynke van der Broek, Dick van Veldhuizen, Frederique Pigeaud, Leonie Broeders, Wenhao Chang, Marieke de Jong, Solveig Vogel, Wendy Plakke, Kirsten van Klooster, Leon Scholte Albers, Louk Goorhuis, Kevin Mann, Kenneth Plat, Gijs Immerman, Rik van Hees, Okke Scholten, Joost Legebeke, Ruben te Wierik, Jan Geschiere

1. Opening Joram Kok opens the General Members’ Meeting at (19.34) 2. Announcements and incoming documents Sophie Paulides: Mobile phones should be switched off. There is no smoking allowed in the room. Everyone needs to sign the presence list. If anyone had not done so, could they please do this now? When someone has a question this should be made clear by raising a hand in the air. Please could people that ask questions stand up and clearly state their name. If someone wishes to leave the room then they should let the Secretary know. There is one incoming document: from International Business Research 2012.

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3. Establishment of the agenda Joram Kok: There have not been any additions to the agenda within the set deadline.

Therefore the agenda is hereby established.

4. Approval of minutes from the General Members’ Meeting dated 12th of September 2011 Joram Kok: Are there any comments about the minutes?

Helen Vonk: I have a comment about the minutes. They say, “voor een prettige samenwerking met de Risk”. I would never say that in my life, so could you change that?

Joram Kok: Which page was that?

Helen Vonk: Page 27.

Joram Kok: I think that is a grammatical error so it can be handed in after the meeting. If there are no further comments then the minutes of the General Members’ Meeting dated 12th of September 2011 are hereby approved.

5. Establishment Half-yearly Report EBF Board 2011-2012 Presentation Eva Kool Joram Kok:

Helen Vonk:

Eva Kool: Helen Vonk: Ewoud Helder: Marieke de Ruijter:

Eva Kool:

Questions can be asked per topic. The tasks of the EBF Board are presented on pages 57 and 58 of the documents. I would now like to ask if there is the need for a first question round for Eva Kool.

I have a question about the Acquisition Team and the Membership Value Cards. In the text I can read about your efforts and that they started in September, but what actual results did they achieve? You say that during the second half of the year they are going to take more time to promote, but what did they actually achieve?

They achieved some discounts and deals for the Membership Value Cards, for example that you get a discount at a restaurant or a driving school.

So how much better are the deals since before they existed?

You can find the deals and discounts on the website and they are also busy arranging advertisements for the agenda.

I have a question about the alumni activities because I saw in the document that the attendance rate was not that high, but that the committee was also busy organising company visits for the upcoming half a year. Should you do that if the attendance rate is not that high? Or are you going to change the approach?

Thank you. You’re right, there are not always that many attendees at the events, but that is mostly the informal events. The socials combined with a lecture are not that well visited, but the activities that are related to studies and other formal activities, such as company visits, are actually very well 19

Marieke de Ruijter: Eva Kool: Alexander Osinga: Eva Kool:

Angelina Bouwman: Eva Kool:

Sander de Vries:

Eva Kool:

Sander de Vries: Eva Kool: Sander de Vries: Eva Kool Sander de Vries: Kenneth Plat:

visited. For example, that last company visit had 25 places and was already full after two days of promotion. I think it is a good idea that they are going to focus more on the formal activities, rather than the informal activities, so that is our approach.

So then you are going to decrease the informal activities?

Yes, we are going to decrease the informal activities because we have noticed that there are not that many attendees at these activities.

I have a question regarding TeMa. In the minutes I saw that you are going to start conversations with them. What are you going to talk to them about?

We talked to them about becoming a Mastercommunity or whether they would like to remain being a study association. The Faculty would also like them to become a part of the EBF, or at least become related to the EBF, but it is their decision. Tomorrow they have their Half-yearly General Members’ Meeting, where they will decide whether to remain a study association, or become a Mastercommunity of the EBF. I was wondering what the reason was not to promote the Recruitment Days in English?

We can only decide to promote our own activities in English and the activities that we are organising in cooperation with another association we cannot promote in English, because we have to discuss that with them. With MARUG we decided to do the promotion in Dutch.

I have a question about the integration of the two functions Vice-chairman and Secretary. Does this mean that either Mariska or Sophie’s function will disappear?

No, of course not. It means that Sophie’s function will become Promotion & Website. Sophie is also responsible for the website but it takes her a lot of time. If possible she would like to devote more time to the website to try to improve it, but she also has the task of Secretary. It will mean that Promotion will be combined with Website and Vice-chairman will be combined with Secretary.

Oh so you switch some of the tasks?

Yes. I have another question. In your informational activities, there is something about the EBF Building. Where is the EBF Building?

I think we mean the building that we have our offices in, so the interim building.

OK. With “optimal membership value”, I assume that the Membership Value Cards are part of this. However, the first and second year members of VESTING never received their card. I saw that you are going to improve the system, and since they are paying for the membership value from the beginning I think that they should receive the card as well.

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Eva Kool:

Kenneth Plat: Eva Kool:

Kevin Mann:

Eva Kool:

Joram Kok: Wouter Joustra: Eva Kool:

Wouter Joustra: Eva Kool: Helen Vonk: Eva Kool: Helen Vonk: Eva Kool: Ruben te Wierik: Eva Kool:

They will also receive the card. As I mentioned, we are going to print in two batches this year. The first batch will be printed in the upcoming weeks and the first and second year VESTING members will receive their cards, if they uploaded their picture to the EBF Website, in the upcoming weeks.

Do you not think this is a little bit late as they have already paid for a year of contribution?

Yes, it is quite late. However, we decided to postpone the printing of the cards so we could improve the system first and then have a system that works well in the long term.

Eva, you mentioned in your presentation that you are working together with the faculty to organise some activities. I have read the Faculty is now investing in better career opportunities for their students. Do you happen to know if they are also going to cooperate with the EBF in organising such events?

The Faculty is not going to organise events related to career. They want to improve the career services in order to better serve their students. They would like students to have more opportunities for career through the Faculty, but this can be in cooperation with the EBF or with the sub-associations.

Currently they would like to organise two career weeks next year and there are also opportunities for the EBF and the sub-associations to organise events in those weeks.

Is there a need for a second round of questions for Eva Kool?

I had a question about the Mastercommunities. You state that they are selfsufficient; does that mean the EBF does not give them any money for support?

We do give them financial support in the beginning, but we aim to let the Mastercommunities be self-sufficient. We would like them to do acquisition in order to earn this money back.

So what do you mean exactly by self-sufficient?

That they have a zero budget, I have a question about the cooperation with BEAST, I don’t know if someone else had that on his or her list of tasks?

The BEAST activities or the Beat The Future event?

Well both I guess. I see that you earned €3000 for a good cause. Do you regard this event as a success? Personally I do not think it is that much.

We do think it was a success. We think it was a good amount to give to charity, so yes.

I’m a fourth year student and I uploaded my picture onto the EBF Website, but that doesn’t mean that I get a Membership Value Card?

Since you’re not a first or second year EBF Member you have to request your own Membership Value Card. Some students, for example myself, already have a Membership Value Card from a previous year. You can go to the EBF 21

Ruben te Wierik: Eva Kool: Gijs Immerman: Celine Göbel:

Eva Kool:

Celine Göbel: Eva Kool: Francine Tol: Angelina Bouwman: Eva Kool:

Joeri Schasfoort:

Eva Kool:

Torben Bethke:

Eva Kool:

Website, log into the system and request your Membership Value Card and then you will receive one as well.

Will this also be promoted?

Yes. My question has already been answered.

I have a question regarding the Human Resource Management System. It says in the documents “this system has proven to be easy at tracking members in their activities, committees and performance. I am wondering how my performance will be used over multiple years?

Your performance will not be rated, but we like to track the performance of the committees. In the long term we will only use the information to see what your interests are in the association.

So it’s not about how I performed in committees?

A little bit of both, but not too many details about how you performed within a committee.

We also keep track of your personal interest and the interest in maybe doing another committee or a board year.

I have a question about your contact with other associations. What was the main objective of meeting with Albertus?

We like to stay in contact with other associations in the city, not just Albertus, for example for promotion, activities or information that we can share. That is the main objective.

I have a question about the standing of the EBF in the Netherlands. The Faculty is really moving up in the world, they are very ambitious and want to be the best Faculty in the Netherlands. This is quite subjective, but I think that currently STAR is the best study association in our field in the Netherlands. Would it also be the ambition of EBF Groningen in the future to be the best? Would this be attainable?

I think it’s not our ambition to compete with other associations in other cities, because they just do their activities and we do ours. We would like to share information rather than compete with them. But of course we would like to be the best association within the Netherlands and I think that we are doing a really good job with our EBF Conference, because it is the largest two-day student conference in the Netherlands.

I was wondering why you promote Dutch activities in English? For me, as an international student, it’s very confusing and very annoying to read activities that are very interesting and then the last lines say it is in Dutch.

We of course thought about it in the beginning of the year, but we decided that, as I mentioned, we would like to be accessible as an association.

Therefore we would like to organise as many activities as possible in English, but the activities that we cannot organise in English we would still like to promote in English because then international students can get a picture of 22

what the EBF is doing and what we are organising. This way they get more of a total picture rather than just the activities that they are interested in.

Torben Bethke: Is that not unnecessary information for international students?

Eva Kool: No, I don’t think so.

Kenneth Plat: I have a question about the Almanac; it is online. However, what kind of information is online?

Eva Kool: The entire book in online.

Sophie Paulides: Except for the members.

Kenneth Plat: So my contact information is not online?

Eva Kool: No, it’s not. Your contact information is only online for members that log into the system.

Ilse Spoelstra: You mentioned the rearranging of tasks. Is that something for this year or something that will be used for upcoming years?

Eva Kool: It’s something that will be implemented for the next EBF Board. We will promote the board recruitment using the new structure.

Sebastiaan Wijsman: I have a question about your contact with the Faculty. Have you discussed the tuition for the year with the Faculty for when you do the EBF Board?

Eva Kool: Tuition for the year?

Sebastiaan Wijsman: Yes, the possibility that you do not have to pay tuition.

Eva Kool: Yes, we discussed that with them, but that is something that they need to discuss with the university and the university would only want to do that if all the universities in the country do that. So we can discuss it with the Faculty, but they cannot make this decision on their own.

Graciëla Hoogendoorn: I have a question regarding TeMa. First, when you do cooperate and they become a Mastercommunity, what are your ambitions to build up a relationship? That comes to my next question, how are you going to improve the relationship with the Mastercommunities?

Eva Kool: I don’t really understand your question.

Graciëla Hoogendoorn: You said before that you want to improve the relationship with the Mastercommunities, what are your concrete plans with this?

Eva Kool: We don’t want to improve our relationship with our own Mastercommunities because we already have a good relationship with them, but we want to improve our relationship with the coordinators of the Masters, so the Faculty staff. We would like to share more information with them about the Master and about the specific activities that they would like to organise for their Master.

Graciëla Hoogendoorn: So if TeMa becomes a Mastercommunity they will still have their community and members?

Eva Kool: Yes, if they become a Mastercommunity they will remain to be called TeMa and they can organise the same events that they are doing right now. The only thing that will change is that they have to pay their bills through the EBF. 23

GraciĂŤla Hoogendoorn: So they will still have their own freedom to find out what they want to organise.

Eva Kool: They will be just like our other Mastercommunities and they can organise their own events, but specific for the Technology Management Master students.

Joram Kok: Is there a need for a first question round for Mariska Kapelle?

Alexander Osinga: I had a question regarding the Christmas Ball, because it was sold out very early. Are there any ideas to do this differently next year? Maybe you could do it in a different location or without the JFV? Mariska Kapelle: Thank you for your remark. If we look at it now we have a long-term contract with Huize Maas and for 2012 we will also organise the Christmas Ball in Huize Maas. However, after that we can see if another location would suit our Christmas Ball better. We will advise this to our next board.

Louk Goorhuis: I have a question regarding Study Support. I was wondering how many people actually sign up to the tutoring classes of the EBF, instead of doing it through Capita Selecta? Do you have any numbers or figures?

Mariska Kapelle: At this moment I do not know, but we can always request these numbers from Capita Selecta. Therefore if you really want to know then come by this week and I can request the numbers.

Louk Goorhuis: Would you call it a success?

Mariska Kapelle: For now we do not see a high increase in the number of students following tutoring classes via the EBF instead of Capita Selecta. As Eva already mentioned, this is something we see as one of the focus points of the EBF, also because of the new government regulations about studying. Therefore we see Study Support as one of the main focus points of the EBF for the upcoming years. Of course it is an advantage if it is a great success, but also when it is less successful and the number of applications does not rise by that much then we will still keep offering it.

Helen Vonk: I have a question about the FVOG. How many meetings have you attended and have you found them helpful for the EBF? Are you planning on going to all meetings in the future?

Mariska Kapelle: I personally attended two meetings this year. As you know the FVOG is an organisation that has close contact with the university, therefore we really see the added value of being a member. I am planning on going to all meetings in the upcoming half a year.

Jannes van der Wal: I have a question about legal issues. As the Promotion Team we have to do work on the Lustrum sponsor folder and add some pictures to it. With that in mind, we are looking for pictures that are attractive, but they can be of someone else. What is the protocol of the EBF to make sure that no copyright laws are offended?

Mariska Kapelle: If I understand the question right then I would give you this answer; on our website there is a page, which is named Privacy Protocol and Disclaimer.

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Joram Kok: Joram Kok:

Gijs Immerman: Sophie Paulides:

Marieke de Ruijter:

Sophie Paulides:

Sander de Vries:

Sophie Paulides:

Celine Gรถbel:

Sophie Paulides;

This states that if you have any problems with your pictures being used in, for example, the Lustrum folder or the Almanac, that you can contact us. If you do not contact us then we assume that you do not have any problems with your picture being used.

Is there a need for a second round of questions for Mariska Kapelle?

If there is no need for a second round of questions then it can be skipped. I would like to go on to the first question round for Sophie Paulides. Is there a need for a first question round for Sophie Paulides?

I have a question about the Almanac, because it made a loss of 4000 euros.

What is the added value for the members?

I think the Almanac still adds value to members because it gives them an overview of the year they had with the EBF, so I think it is still a nice thing to offer your members.

I have a question about the website. How is everything going with the new website and is everything now how you want it to be? Also, how is the contact with the webhosting company, because you had some trouble with the Recruitment Days website?

As expected with every new website, there were some problems in the beginning. There were some bugs that had to be taken out of the system and we worked very hard to get rid of those. I think the contact with the webhost is very good and I have contact with them very regularly.

I have a question about the Lustrum. It says that there are several stakeholders being involved in the Lustrum. Does this mean you are also including your main partners and sponsors in the Lustrum? How do you see this?

The way companies will integrated in the Lustrum will be via sponsoring, so companies that have been working with the EBF in the past five year will be approached.

Sorry for coming back to the point that has already been made about promotion, but in my opinion I see your point that you want to make the promotion accessible to everyone and that even the international students can see what you as a Dutch study association organise. But again I just want to emphasise that it can be really confusing to sometimes see this promotion, read through it, and then at the end you focus on the Dutch activity logo and it can be very disappointing. I would advise you to try to make it a little more obvious that it is a Dutch event. Then everyone knows it from the beginning.

Thanks, I have heard this comment from you before and I think since then we have tried to make the Dutch activity logo that we have for all our Dutch activities clearer on all the promotion we have. Therefore this is what we will continue to focus on.

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Helen Vonk:

Sophie Paulides; Helen Vonk: Sophie Paulides: Helen Vonk: Sophie Paulides: Helen Vonk:

Sophie Paulides;

Helen Vonk: Sophie Paulides:

Joram Kok: Louk Goorhuis:

Sophie Paulides:

Louk Goorhuis: Sophie Paulides: Helen Vonk:

Sophie Paulides:

I also have a few questions about the Lustrum. First, to clarify your answer to Sander’s question, does this mean that the Lustrum will not include any recruitment activities?

The EBF Conference takes place during the Lustrum week.

So except for that there will not be any recruitment activities?

I cannot say anything specific about the programme now; this will all be announced in June.

But I guess if it is in September you will already know if there will be some recruitment involved or not? So it is not a hard question to say yes or no?

I already said I could not say anything specific about the activities.

My next question would be, if there is recruitment involved, do you see a danger of this event competing with your own activities during the rest of the year or with activities of other associations?

I think every activity that the Lustrum committee came up with for the week was carefully thought about and whether it might compete with other activities. Therefore I do not think it would compete.

Then one last question about the Lustrum. How do you see the cooperation with the faculty?

We have contact with the faculty already, so that we can maybe organise a few things together and to make sure that the faculty can attend some of our activities.

Is there a need for a second round of questions for Sophie Paulides?

I had a question about the Almanac Party. It was organised as a really big event in the Kokomo with various DJs. However, it was not that well attended.

It might have been a too big a party that cost a lot of money, for an event that should maybe be a bit smaller. Would it be wise to organise it again next time?

Or should you maybe present the EBF Almanac at an EBF Social?

Next year there will not be an Almanac Party because there will not be an Almanac. There will be a Lustrum book at the end of this year, which means there will not be an Almanac for 2012-2013. The decision of whether to organise an Almanac Party in the year after that will be up to the next EBF Board.

But what was your opinion on the party? On organising such a large event for not that many people?

We could look at how we could improve the promotion for such activities.

I have one more question about the website. Every time I access the EBF Website at the faculty it is very slow. Can you tell me why this is and is there something that can be done about it, because it is a very new website, so it should be faster than ever?

The problem is that the EBF Website was actually built for the newer version of Internet Explorer and the faculty uses the old one. It would be a large investment to also make it compatible with the older Internet Explorers. What 26

you can do to improve it is use Firefox, which is also on all the computers at the faculty.

Joram Kok: Is there a need for a first question round for Martinus van der Wal, concerning non-financial questions?

Helen Vonk: I have a question about insurance. Can you tell me a little bit more about how the EBF is insured and if you changed anything during your board year?

Martinus van der Wal: As I presented during the General Members’ Meeting, some of the insurances of the EFV and BIG were cancelled and we currently have an insurance on all the properties at the Interim. We also have a liability insurance for the EBF Board. Finally, we have insurance on the money that we have in our vault.

Kenneth Plat: I just heard you might hire an intern, I think that is a really good idea. When is this going to happen? I think he or she is going to do part of your bookkeeping?

Martinus van der Wal: We are still researching the possibilities of hiring an intern. We first want to outweigh the costs and benefits and then it may become an option.

Kenneth Plat: Yes, I think you all work very hard, but I know first-hand how many hours Martinus makes in the office, which is really outrageous. I even think it is unhealthy. This is not a joke. I think you should do less!

Martinus van der Wal: Thanks!

Joram Kok: Is there a need for a second round of questions for Martinus van der Wal, concerning non-financial questions?

Sander de Vries: I had a question about the intern, which you may hire. What can she do for you?

Martinus van der Wal: What he or she can do for me is general administrative tasks in the financial administration.

Sander de Vries: Where are you searching for your intern?

Martinus van der Wal: We are in contact with various MBO schools about the possibilities of hiring an intern.

Sander de Vries: Are you not afraid that they will get access to a lot of information that is private for your board?

Martinus van der Wal: Often with an intern they will have to sign a confidentiality agreement, but we are taking it into consideration with the option of hiring an intern.

Sander de Vries: Good luck with finding a nice person.

Joram Kok: Is there a need for a first question round for Ewoud Helder?

Alexander Osinga: In the documents I read about the Technology Consulting Day being cancelled. What are you going to do about this next year?

Harmen Claassen: Well, this is actually part of my tasks, so I can answer this for Ewoud. Next year there will not be a Technology Consulting Day, because there were some uncertainties within TBV Lugus. Therefore it is uncertain if they will organise it with us.

27

Alexander Osinga: Harmen Claassen: Alexander Osinga: Ewoud Helder: Alexander Osinga: Ewoud Helder: Sander de Vries:

Ewoud Helder:

Sander de Vries: Ewoud Helder: Helen Vonk:

Ewoud Helder:

Helen Vonk: Ewoud Helder: Helen Vonk: Ewoud Helder: Helen Vonk:

Ewoud Helder: Joram Kok: Kenneth Plat: Ewoud Helder: Kenneth Plat:

I also read that you will see if you can do another activity with TBV Lugus.

What kind if activities are you looking at?

We are currently still exploring those options with them, so this is still uncertain.

Then I had another question about the Consulting Event that you organise with the FMF. Was this a success?

Yes, it was a success. We had an increase in applicants and the companies as well as the students were satisfied.

What was the division between FMF and EBF applications?

I do not have the exact data, but I can look that up for you.

I have a question about your advertisements for the Prospect Magazine. Half a year ago you did not have a goal for yourself for how many you wanted to sell. Do you have a goal now and what is it?

I expected this question. We decided as a board to go from 5 editions to 4 editions of the Prospect every year, because we have seen a decline in advertisements for each edition. I calculated to sell an average of 5 advertisements per edition.

Is this an increase or decrease in comparison to last year?

Compared to last year it is a small decrease.

I have a question about the Recruitment Days, as you are the first supervisor.

Do you intend to make the Recruitment Days open to international students as well, as your strategy is to be open to all nationalities? I think international students are also interested in recruitment activities.

At this moment we have to look at the demand of companies for international students. At this moment the interest for international students is not high enough to let them participate in the Recruitment Days, but we can consider it again for this year.

But for you as a study association, your main goal is to work for your members, right?

Yes that is true.

There are a lot of international students as well, so maybe they should be looked at instead of what the businesses want.

That is true, but there has to be demand by the companies to organise an international recruitment activity. Of course we can look at the possibilities.

I would very much appreciate it if you take the effort to see if, maybe not all, but some of the companies are interested in those students as well because I think they are.

OK, thank you.

Is there a need for a second round of questions for Ewoud Helder?

How is Cash doing?

Well, I am on target.

I meant the cow.

28

Ewoud Helder: Kenneth Plat: Ewoud Helder: Sander de Vries:

Ewoud Helder: Sander de Vries:

Ewoud Helder: Joram Kok: Joeri Schasfoort:

Francine Tol:

Joeri Schasfoort:

Francine Tol: Joeri Schasfoort: Marieke de Ruijter:

Francine Tol:

Oh, the cow.

Yes, you adopted a cow, right?

We did, but we haven’t donated in the last month.

I have another question. You said that you want to get more money than your predecessor Thijs, but you see a decline in advertisements. How do you want to fill this gap?

I think I will reach my target. When I reach my target then I will have more than Thijs.

So where will you get the money from? The advertisements are declining, so do you see an upward trend in your digital advertisements, such as banners on the website?

Yes, we see that, and also in mailings for example.

Is there a need for a first question round for Francine Tol? I have a question about the new board and their recruitment. In my opinion, but it is not carved in stone, the finest people should be attracted to do the EBF Board, as the EBF is the biggest study association here and I think it is the most ambitious thing to undertake as a student. Therefore I would like to ask, what is your vision and how will you try to get to these students this year?

We have already spoken to a lot of people who might be interested in the EBF Board. There are also some active members who said to us they might be interested and we have had conversations with them. Besides that, we actively talk to people about doing the EBF Board if we find them suitable.

We also promote and have an information meeting before the deadline to explain everything in detail.

The reason that I ask the question is that I would like to give some tips on how to reach new people. I think there could be great improvements if you look towards the faculty. The professors probably know the top students, as they also do for Honours, so the professors could do part of the recruitment for you. I think that would be a great improvement to add to the traditional channels that have shown their work.

Thank you for your tip. Why don’t you come by soon and we can discuss this point?

I definitely will.

I have a question about the integration between the Dutch and the international students, because I saw that for all the newly selected committees there should be at least two international students, but can international students apply for all the functions in a committee or only several? I can imagine it may be difficult for them to do a function involving speakers or acquisition.

You are right. There are certain functions that might not be very handy to have an international student do who does not speak English. Therefore 29

Steven Verhoeven:

Francine Tol: Steven Verhoeven: Francine Tol:

Helen Vonk:

Francine Tol: Helen Vonk: Francine Tol:

Helen Vonk:

Francine Tol:

Joram Kok: Angelina Bouwman: Francine Tol:

Joram Kok: Wouter Joustra:

Harmen Claassen:

there are certain functions within committees that are available for international students, such as PR and Research Coordinator.

I have a question concerning the recruitment of active members. I heard that active members could have feedback sessions with you about their performance in committees. My question is whether they will still do these sessions and, if so, when they will do these sessions?

I think you mean the evaluation talks that are being held after every committee has finished their event.

Yes. As soon as the committee is finished with their event, they are invited to an individual evaluation, where we talk about their personal experiences in the committee and whether they have aspirations to do a bigger committee.

I have a question about internal communication. We have recently had some issues where active members of the EBF did not seem to know the structure that we have at the Interim. How do you assure that they all know how this works? How can you improve this?

What do you mean with the internal structure we have at the interim?

That certain target groups of students are focussed on by Risk, MARUG or VESTING. We assume that all our members are aware of the sub-associations we have and their target groups. If there are any problems concerning people who do not know about this, we kindly ask you to refer them to us and we can explain everything in detail.

I guess that to make the assumption is not enough. As the board of Risk we make a manual for all of our active members that they receive on the first day.

I know that you have something like that as well. I think it might be good to incorporate the Convenant in that and to force them to learn about it.

Thank you for your tip. We already have the Convenant integrated into our guidelines and is also on the Y Drive in the supporting file, which all our committees can access.

Is there a need for a second round of questions for Francine Tol? Will it be possible for international students to apply for the EBF Board?

For next year this is not yet a possibility. It is not something that can be achieved in the near future, but we are looking at possibilities for the longer term.

Is there a need for a first question round for Harmen Claassen?

I have several questions for you. They are not about Al Gore. I have one question about the profits of the EBF Conference. In 2009, there was a loss of €971. In 2010 there was a loss of over €12.000. This year it is more than €25.000. Is this a trend? What are you expecting for next year?

We have a fixed contribution that we make to the EBF Conference and we will try to maintain this next year. I do not plan to continue this trend.

30

Wouter Joustra: Harmen Claassen: Wouter Joustra: Harmen Claassen: Wouter Joustra:

Harmen Claassen: Joram Kok: Wouter Joustra: Sander de Vries:

Harmen Claassen: Kevin Mann:

Harmen Claassen: Kevin Mann:

Harmen Claassen:

Kevin Mann: Harmen Claassen: Bas de Vries: Harmen Claassen: Bas de Vries:

So the conference of next year will make a profit? Can you assure that?

No, I cannot assure that. We will still make a contribution from the EBF to the EBF Conference because we see added value for us to do this.

Can you give me an indication of how much that is? Will it be 25 or 10 again next year?

No, last year there were some additional costs for the speech of Al Gore.

However, so far that has not been planned for this conference.

I also had a question about the acquisition revenue. Again, in 2009 it is over €45.000. In 2010 it is a bit more than 36.000. As a note it says acquisition revenue was a bit lower this year. But then again in this year it is €31.000, therefore that is another decrease of over €5.000. Why is the acquisition revenue so low?

Last year we had less workshops, but this year we will try to improve this by looking at the prices for workshops.

Wouter, I would like to now give the floor to someone else. You can ask some more questions during the second question round.

OK, thank you.

Half a year ago I asked what your ambitions were for cold acquisition. I was wondering what you achieved and what your plans are for the next half a year.

So far it resulted in three new sponsor agreements with Alliander, Rabobank and Roland Berger. I still have contact with various other companies.

I have a question about the EBF Conference and more specifically about the lecture by Al Gore. I might recall this incorrectly, but did he finish half an hour early?

Al Gore finished his whole speech.

OK, because if I recall this correctly, he did not and I thought it was a bit weird. At the end of the lecture I was hoping to ask him a question and I am sure a lot of other students wanted to as well. However, none of the students at a student conference got to ask him any questions. Only, the woman from Groenlinks got to ask a question. What is your view on this? Why did this happen?

We could not pick the questions; the moderator of the day did that. For this year we will give this as an advice to the moderator, to allow more students to ask questions.

Yes, I would suggest that you do that.

I will take it into account.

I have a question about the Technology Consulting Day. Are you going to try to organise it this year?

We will not organise it this year.

Why not, because it is the only event for Technology students?

31

Harmen Claassen:

Bas de Vries: Harmen Claassen: Alexander Osinga: Harmen Claassen: Alexander Osinga: Harmen Claassen: Wendy Plakke:

Harmen Claassen:

Joram Kok: Joeri Schasfoort:

Harmen Claassen:

Joeri Schasfoort:

We are looking to organise it for the upcoming years when Lugus has done their restructuring. For this year it was too early and we still faced a lot of uncertainties.

Would you consider organising it without Lugus? There are a lot of people that study Technology Management.

Yes, but we want to invest in our partnership with Lugus for the long term and we want to organise it with them.

I read about new computers at the Interim? When are they coming?

They will be coming next month.

And all the computers on the flexible places will be replaced? Which computers will be replaced?

All the oldest computers. These are the ones with a black label on them, also in the VESTING rooms.

I have a question about Prospect. It is online since half a year. I was wondering if you have any idea how many views you have had and if it is a success? Are there any plans to stop printing a hard copy?

For the first part of your question I do not have the exact numbers, but we recently installed Google Analytics and we still have to request the actual numbers. For the second question regarding the hard copy: As we mentioned before we held a digitalisation questionnaire. One of the results was that the members still value the hard copy edition of the Prospect more than the online version. Therefore we will keep printing it for the upcoming years.

Is there a need for a second round of questions for Harmen Claassen?

First I would like to make a remark about the question of Wouter about the trend of the EBF Conference profits. I definitely do not think that you can interpret the â‚Ź25.000 loss this year as a trend, as this was because of a bookkeeping decision. I think Martinus will explain this in his presentation.

Secondly, I think the EBF Conference was quite revolutionary this year because a new business model was used, in the sense that it used to be financed almost completely by sponsors. Now you can see, and also in the financial presentation, that it was mostly financed by business participants and a little by students. I do not know if it would be possible to get another speaker like Al Gore, but in the future do you think this would be a viable business model or the new business model for the conference?

I think this definitely is a viable business model. If the opportunity arises then we can use it again, as the basis has been set. However, the speaker needs to add value to the conference.

But say if you were not able to attract someone like Al Gore. Hopefully you will or some other interesting speaker. In the past years the faculty staff did not visit the conference that much. There were only two or three faculty attendants and the same counts for business participants. Let’s say it is a 32

Harmen Claassen:

Joeri Schasfoort:

Harmen Claassen: Helen Vonk:

Harmen Claassen:

Helen Vonk:

Harmen Claassen:

Sander de Vries: Harmen Claassen:

Sander de Vries: Harmen Claassen: Gijs Immerman:

Harmen Claassen:

regular conference. Do you have any targets for business participants and academic participants and how do you plan to get them to the conference?

We do not have any specific number for the numbers of participants that we would like, although we would like to increase this. We are trying to put a programme together for the business participants to make it very attractive.

We will also increase some of the options on the Academic Day. The MARUG Conference is very able to attract business participants. I think it will also be possible for the EBF Conference. I would advise you not to state a target here at the General Members’ Meeting, but set it for yourself, so that you can obtain it. Three can definitely be improved.

Thank you for the remark.

I have two questions. I know the Academic Day has been organised for a few years now but not as a very big success. How are you going to make this more attractive for students? My second question is about the Business Classes. What other courses will have a Business Class and how are you going to incorporate the other associations when the Business Classes are in their field of study?

We are organising Business Classes for the broad Bachelor programmes, such as Bedrijfskunde, Bedrijfseconomie and IB&M, so we are not trying to incorporate the sub-associations in this. However, might the opportunity arise that there is a speaker that is not interesting for us but for the subassociations then we will let them know. Can you repeat your first question again?

Yes about the Academic Day. I know you are organising this every year, but as far as I can see this is not very successful and not many students are attending. On the other hand the faculty wants to organise a good Academic Day. How are you going to make it really attractive to students?

As you heard before we have more Mastercommunities now and we are trying to involve them in the Academic Day so that all those students become more aware of it. I think that is our target group as well for the Academic Day. Hopefully they will be more involved this year.

You said you held a questionnaire about the digitalisation of the Prospect.

Who filled in this questionnaire?

It was on our website and we promoted it via Facebook and Twitter, so probably EBF Members. It was anonymous, so we cannot say who exactly participated.

Do you know how many people participated?

Yes, over one hundred participants.

I have a small question about the conference, because I believe last year was the first time that there was an opening speaker like Al Gore. Can we expect such an opening at the next conference?

We have not yet contacted a speaker for such an opening.

33

Lea Hamann:

I also have a question concerning the Prospect magazine. I think, and I am not the only one, receiving the Prospect regularly is quite a lot. Do you see it as an option to customise the Prospect and only send it to people who actually want it?

Harmen Claassen: As a result of our questionnaire we are considering sending it out in other forms than hard copy. So far no plans have been made but I will look into this.

Sebastiaan Wijsman: My question has been answered.

Wouter Joustra: Thank you Joram. Thank you to Joeri for your answer to my question. I had a more specific question about the business participants. Can you give me an indication of how the division was between students and business participants for this year?

Harmen Claassen: It was about one third business participants.

Wouter Joustra: I see you have a very high contribution for the participants and Joeri said it might be a good idea to think of how you will think of attracting business participants for next year. I think that this year it was a high percentage of business participants. Do you not think that this is not really the goal of the EBF, because it is a student association?

Harmen Claassen: We mainly organise the EBF Conference for students. However, we do think that business participants add value to our conference through the social attitude that comes with it.

Wouter Joustra: Thank you. My other question is that you say you do not intend to make a significant loss again next year. I do not think that was your intention last year either. The EBF Conference is a full-time board and especially when I look at the acquisition it is not that high. Do you have more significant plans to improve this?

Harmen Claassen: Yes, for example we reviewed the sponsoring packages for this year. We made it more attractive for companies to participate in the EBF Conference.

Wouter Joustra: Thank you very much.

Joram Kok: Are there any general questions concerning the Half-yearly Report of the EBF Board 2011-2012? Is there demand for a vote on this proposal? Then I hereby approve the Half-yearly Report of the EBF Board 2011-2012.

6. Establishment Half-yearly Financial Report EBF Board 2011-2012 Presentation Martinus van der Wal Joram Kok:

Luud Coenen:

Before we go to the question rounds. I would like to remind everyone there are two question rounds. If you have more than one question you can also ask them in the second question round, because more people would like to ask a question. Are there any questions regarding the Half-yearly Financial Report?

You already told me today why the Recruitment Days is not in the documents.

I have another question; in your introduction you write that there are some 34

negative financial results. My question is what caused these negative financial results for the Recruitment Days?

Martinus van der Wal: This is because we spent more on the Martinipaza, especially on the catering, than first was expected.

Luud Coenen: So it does not have anything to do with the acquisition revenue?

Martinus van der Wal: No, it doesn’t.

Luud Coenen: Thank you.

Helen Vonk: I had the same question.

Leon Scholte Albers: What kind of budget did you have in mind for the intern?

Martinus van der Wal: I have not yet thought about the budget that should be given to an intern. I think it would be conform to other normal budgets that an intern gets.

Leon Scholte Albers: I had another question about the IBR Foundation. At the moment the total equity is â‚Ź80.000, to cover financial risks. What is the target amount for this?

Martinus van der Wal: The total equity is based on two parts. One is indeed to hedge against financial risk. The other part is to invest or for IBR to have the possibility to invest. We are currently looking at what is the best amount and what amount is really needed to hedge the risk. In the upcoming half a year I hope to know what is the best amount.

Leon Scholte Albers: Could you name some specific potential financial risk? Personally I think that â‚Ź80.000 is pretty high.

Martinus van der Wal: There could be various financial risks that need to be hedged to ensure the continuity of IBR project.

Sander de Vries: I had a question about your accounts receivable. You already said it was lower than expected. How many companies are there who take more than one year to receive their invoice?

Martinus van der Wal: There are a few that are called old debtors and there are only two of these.

The others are from the past year.

Sander de Vries: Do you still think you will collect those two old invoices?

Martinus van der Wal: Yes I think I will still collect them.

Ruben te Wierik: In this booklet you state that Mastercommunities have financial budgets, but why do you not show these?

Martinus van der Wal: You mean the budget directly underneath them?

Ruben te Wierik: Yes, because it says there was a loss of several thousand according to budget, but this budget has not been shown in the booklet.

Martinus van der Wal: That is a good comment. At the beginning of the year we make a total for the budget because there is a lot of variability within the committees. We think it is better to have a total budget for the committees to give a guideline of how much acquisition they need to get.

Ruben te Wierik: I get it, but there will be some point where you decide what they can do and what they cannot do, so at some point in time they will have a budget?

Martinus van der Wal: Correct, maybe we can take it into consideration to also state the budgets underneath for next time.

35

Joram Kok: Alexander Osinga:

Martinus van der Wal:

Ruben te Wierik:

Martinus van der Wal: Ruben te Wierik:

Martinus van der Wal:

Ruben te Wierik: Martinus van der Wal: Ruben te Wierik: Martinus van der Wal: Ruben te Wierik: Joeri Schasfoort:

Leon Scholte Albers:

Martinus van der Wal:

Leon Scholte Albers: Martinus van der Wal:

Is there a need for a second round of questions for Martinus van der Wal regarding the Half-yearly Financial Report?

I have a small question about the income statement of the Dutch Inhouse Tours. It says about €12.000 is paid for post-related things, do you not think this is a lot of money?

It is quite a lot of money, but it is used for the sending of the profile books.

This is sent to all Sefa, Aureus and EBF Members who are in their third year or higher, so we think this is of added value.

I have several questions. First of all you said in reply to Sander’s question that you expect to collect all of your debtors. Why then have you still budgeted €5.000 for uncollectible accounts?

That is a good point. We want a safe margin for the EBF. You tried to budget for a zero result, but now you do not budget this uncollectible account as expected, so then it will end up being a profit at the end of the year?

You could see it like that, but we like to play it safe and keep some margin in the uncollectible accounts, because there are various ways in which debtors can turn into uncollectible accounts.

Lastly, a minor question. I see that you did not have any depreciation in your fixed assets. Do you not do this half-yearly?

Yes, we do not do this half-yearly but every year.

I think it probably should be depreciated half-yearly.

We didn’t see this as needed until now, but we can take it into consideration.

Thank you.

I would like to make a small remark, purely for the minutes. About the budget per committee, I think now it can be interpreted as that there is no budget per committee and I do not think this is what you meant. The Introduction Camp for example made a loss, which was lower than budgeted, but the Introduction Camp did have a specific budget. I think you interpreted it the other way around, but that was just to clarify for the minutes.

When comparing the IBR India and Mexico statements, the net results were pretty similar. However, the restitution to participants was fully completed for India, but when I look at Mexico there was only €8.000 out of €13.000. Why is this?

This is because each country is very different. Some countries are cheaper than others. The total result of the two countries is transferred to the IBR Foundation and the participants. In this case, the total profit from Mexico was lower and therefore the restitution to the participants was also lower.

But then you could say in a way that the Mexico participants funded the foundation?

No, because the people that go get something back from the trip. They pay a relatively lower amount than if they were to organise the trip themselves.

36

Joram Kok:

Because of the differences between countries there can be a difference in restitution.

Are there general questions concerning the Half-yearly Financial Report 2011-212? Is there a need to vote on this proposal? Then I hereby approve the Half-yearly Financial Report 2011-212.

7. Any other business No points.

8. Questions Alexander Osinga:

On behalf of the VESTING Board 2012-2013 I would like to congratulate you on your results. From day one it has been really nice working with you. Some moments better than others in my memory, but I hope in the next half a year we can continue this good cooperation. You can be very proud of yourselves.

Wouter Joustra: On behalf of the Risk Candidate Board 2012-2013 I would like to congratulate you as well with what you have achieved so far. We have worked together for a small period of time in some way or another. I think I speak for the whole Candidate Board when I say we are looking forward to the next period.

Dick van Veldhuizen: I don’t have a Candidate Board, so on behalf of myself I would like to congratulate you with your results and I am looking forward to working with you guys in the upcoming half a year.

Helen Vonk: On behalf of the Risk Board 2011-2012 I would like to thank you for the last half a year of cooperation. I think we have helped each other a lot and I agree that you can be very proud of your achievements so far. I would like to wish Martinus lots of luck finding his intern. I think our five successors would be very happy if she was good-looking and friendly. Maybe our treasurer can also get some administrative help to make the internship more valuable for your intern.

Marieke de Ruijter: On behalf of the MARUG Board I also would like to congratulate you all with the results of the last half a year. You always organise everything really well and you are a really nice team to work with. We are looking forward to the next 6 months. You are always very busy and have gained the extra task of organising the cleaning services! Martinus the busy treasurer: good luck with finding your new intern. The boys also have a little present for you for all the workload.

Louk Goorhuis: We will do it afterwards!

Wendy Plakke: On behalf of the EBF Board 2008-2009 I would like to congratulate you with the results of the last months. I know you have been very busy, but I hope you also have time to enjoy it because before you know it, it will be over. I would like to wish you good luck with the next 6 months and most of all, have fun!

37

Bas Schram:

Kenneth Plat:

Joeri Schasfoort:

Leonie de Zeeuw:

Eva Kool:

9. Closure Joram Kok:

On behalf of the EBF Board 2009-2010 I want to congratulate you with the last half a year. It is good to see your focus points are still continued from other boards. It is good to see this continuation. I would like to wish you a good next half a year.

On behalf of the VESTING Board 2011-2012 I would like to say it was a pure delight to work alongside you in the last half a year. We would like to wish you a lot of luck in your endeavours in the upcoming half a year. I would now like to give the word to Joeri.

On behalf of the EBF Audit Committee, it is our task to make sure you do not screw us over financially. I very glad you didn’t. Of course there is a possibility that you outsmarted us, but that didn’t happen. I also would like to say that, on behalf of all previous treasurers, you are the best treasurer so far, but only because we taught you. I would like to comment on Kenneth’s remark, and this is indeed a very serious remark, that we think that you work too hard. Therefore we are very glad that you decided to hire an intern. We would like to volunteer to help select her. Thank you very much for your hard work Johnny and I’m really looking forward to the next half a year.

On behalf of the EBF Board 2010-2011 I want to congratulate you with your first half a year. Of course we are very proud of what you have achieved so far. From my own experience I can say that the second half will go even faster, so please enjoy your time and good luck!

Then I would like to make a short announcement. Since this is a test-case in English, we would like you to fill in our survey. Please remain seated and we will hand them out to you.

Dear attendants, than you for your presence. I hereby close the General Members’ Meeting (21.38).

Signatures,

Joram Kok Technical Chairman

Sophie Paulides Promotion & Secretary

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Yearly Report EBF Board 2011-2012

Eva Kool Mariska Kapelle Sophie Paulides Martinus van der Wal Ewoud Helder Francine Tol Harmen Claassen

Chairman Vice-chairman Promotion & Secretary Treasurer Commercial Relations I Internal Relations Public Affairs & Commercial Relations II

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Introduction Groningen, 29th of August 2012 Dear members, During the past year the EBF Board focused on multiple focus points and projects, besides the regular activities that the EBF organises. Part of the policy was to work on new aspects of the association and part was to continue previous projects in order to improve continuity.

The policy plans formulated in the beginning of 2011-2012 were the first to fit into the renewed Strategy 2015. Last year, the EBF Board decided to focus on certain aspects of the strategy. We hope to have contributed to, among others, internationalisation, human resource management and the relationship with the Faculty of Economics and Business. Other aspects of the long term strategy will be open for the upcoming EBF Board. One of the main achievements concerning the past year is the English General Members’ Meeting. Hopefully the EBF will become even more accessible for international students in the future.

Besides the projects and focus points, many activities were organised. Most of them were activities that are organised every year. However, new activities have also been organised this year. For example, the social activities in cooperation with the Business and Economics Association for Staff (BEAST), the University Colloquium and of course the kick-off event with Al Gore and EBF Conference in September 2011.

Moreover, on the 1st of August the EBF celebrated her fifth birthday. In order to celebrate this, the EBF Lustrum will be organised in September. It was a unique experience to help organise a large event like the EBF Lustrum, so make sure you do not miss it.

In this yearly report the EBF Board will show you the policy results, the activities, internal affairs and environmental analysis. Enjoy your reading.

Yours sincerely, On behalf of the EBF Board 2011-2012,

Eva Kool Chairman 42

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Results Policy EBF Board 2011-2012 Focus Points EBF Community The EBF Board strives to optimise the cooperation and involvement of various parties. The goal is to make the EBF the centre of a strong community including students, the Faculty of Economics and Business and external parties. Clear communication and staying in close touch with the parties in involved are central values.

Therefore the EBF Board strives to: • • •

Establish optimal membership value for students; Create mutual involvement with the Faculty of Economics and Business; Information, knowledge sharing, synchronisation of activities Intensify cooperation, communication and involvement with external parties.

Review advisory councils, sister associations, other associations

In the past year the EBF Board tried to make decisions in line with the goal of achieving optimal membership value for students. A concrete action that increased this value is the Membership Value Card system and the new discounts and deals that are offered via the card. Also, the tutoring classed offered in cooperation with Capita Selecta increased the membership value for students.

Concerning the mutual involvement with the Faculty of Economics and Business the EBF has tried to create an increased awareness of the EBF Goals and activities amongst faculty staff. There was a meeting with the course coordinators to explain the structure and possibilities within the EBF and present the information folder that was handed out to faculty staff. Moreover, a schedule was made for the administrative staff, in order to better understand the structure of the EBF and know who to contact for certain matters. Concerning knowledge sharing, the contact between the EBF Board, some committees, and for example course coordinators has intensified. This resulted in many successful Business Classes during the year and already seven confirmed Business Classes for the first block in September 2012. For both the Bachelor Symposium as the International Symposium there was a course link. Furthermore, some activities were organised jointly, such as the activities with the Business and Economics Association for Staff (BEAST) and the Careers Week in September 2012. The EBF and the sub-associations have an organising role in the Careers Weeks.

Lastly, the faculty is replacing the Faculty Introduction Day in August for a Faculty Introduction Week in the first week of September. Freshmen will have the opportunity to both get to know the faculty and the EBF in multiple ways.

The communication and cooperation with external parties is divided into advisory councils, sisterassociations and other associations. Concerning the advisory councils, a new structure will be implemented for the upcoming year. There will be two advisory councils, one for the mid-long-term 44

strategy and one for the long-term strategy. The councils will consist of both people from the business field and former EBF Board members. Concerning the sister associations, during this year multiple benchmark session with a sister association were organised, which proved to be very useful.

For the upcoming year a benchmark session is planned together with the four other large Business and Economics associations in the Netherlands. During the year there has been contact with multiple other associations in the city about various topics, for example the study environment for students and internationalisation of the associations and University.

Internationalisation The EBF Board strives to make the EBF a more accessible association for all of her members in the fields of study, career, international and recreation. The EBF plays an important role in both the creation of an accessible environment for all students, as well as in the integration between all students.

Therefore, the EBF Board strives to: • Facilitate the accessibility of the association for all members; Promotion, offering documents bilingual (EN-NL), test case Half-yearly General Members’ Meeting • Improve integration between all members.

Committee selection, activities Over the last year, the EBF Board has tried to always keep internationalisation in mind with everything that was decided. Throughout the year several things have been done to stimulate the international character of the EBF. For instance, English promotional material and offering important documents bilingual. Although there was some negative feedback, especially concerning the English promotion, it was decided to continue this approach because giving international student an overview of what the EBF organises is more important. The EBF Board will try to make it clearer which activities are only for Dutch speaking students so that there will not be any unclarity for nonDutch speaking students.

Also, the Half-yearly General Members’ Meeting was conducted in English because it makes the activity accessible to all EBF Members. After the evaluation it was decided to continue having the General Members’ Meetings in English. The evaluations showed some negative feedback, but mostly positive feedback. Most of the attendees of the meeting recommended the EBF Board to keep doing the meetings in English. Also, since the focus point internationalisation is based on accessibility instead of a specific demand from international students, the continuing of the meetings in English is another way to improve the international character of the EBF. Concerning the improvement of integration between all members it proved to be hard to establish this. The International Activity Workgroup organised several activities that attract both national as international students. For instance the International Movie Night, the Treasure Hunt and the 45

International Day were organised this year. Some of the activities resulted in a successful integration between all members, however it is still hard to stimulate both groups to integrate.

The EBF Board has tried to make more activities accessible for international students for each of the pillars of the EBF. Concerning recruitment this was quite difficult since companies have a strong focus on Dutch speaking students.

During the committee selections, the EBF Board tried to establish a balance within committees between national and international students. This resulted in some committees with international members for specific functions. Especially several of the Mastercommunity committees had international members, which was easier to achieve since most of the Master programmes are in English.

Operational Efficiency The EBF Board strives to make the association more efficient by structuring and documenting more consistently. Furthermore, the renewed administrative systems must be optimised during their implementation. The goal is to establish the optimal use of these systems.

The EBF Board strives to: • •

Restructure and improve internal processes within the association; Outsourcing, human resource management Take care of the optimal administrative systems and use the systems efficiently.

Website, members’ administration, financial administration, CRM System

By restructuring and improving internal processes and investing time in the new administrative systems the EBF Board tried to make the association more efficient. Some tasks of the EBF Board were outsourced throughout the year, for example tasks which were previously done by the Promotion& Secretary are now done by the Promotion Team and some tasks of the Commercial Relations are now outsourced to the Acquisition Team. Furthermore, a financial intern was hired for ten weeks. Having an intern for financial administrative tasks proved to be very successful. For upcoming years there will also be the opportunity to hire an intern. In order to realise this, a plan for continuity and supervision is being written. Besides the intern, some processes within the EBF have been restructured, for example the committee theme proposal formats and committee specific guidelines. In order to achieve an improvement in efficiency over multiple years a human resource system has been developed and used.

One year ago, in September, the EBF Website and back office were renewed. In the past year a lot of time has been dedicated to optimising the website and administrative systems, a couple of small but necessary improvements have been made. Among them, a policy for sub-websites was written and the back office for active members will be changed into English. Moreover, the EBF Website, webshop and back office are considerably easier to use.

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Furthermore, after some minor adjustments that have been made to the system of the members’ administration it is working effectively at the moment. Within the financial administration some changes have been made, for example a digital billing system and a laptop for the financial administration. Furthermore, the options of a digital declaration system are still being explored. The Customer Relationship Management System is also working effectively.

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Projects Lustrum On the 1st of August 2012 the EBF will celebrate her fifth Dies Natalis. The EBF’s first Lustrum will be a moment to look back on the last five years and to celebrate the results achieved during this period. In order to celebrate the EBF’s first Lustrum the EBF Board strives to organise multiple events, which are interesting and accessible for all stakeholders of the association.

Therefore the EBF Board strives to: •

Organise a Lustrum celebration in September 2012, which is open to all stakeholders of the EBF This target has not been achieved

Since the EBF Lustrum will take place in the last week of September this project has not yet been realised. The EBF Lustrum will be accessible for all (active) EBF Members, other students in Groningen, Alumni and faculty staff. The week will start with a recruitment activity for EBF Members and will end with a large lustrum party on the first of October. In between there will be an opening activity that is open for everybody, an informal activity open for all EBF Members, an active members’ activity including an old board members’ activity, alumni activity, former active members’ activity, a comedy night open for all EBF Members and of course the EBF Conference. The Lustrum Committee, consisting of eight active members, is supported by two Lustrum Teams for organisational work and the design of the Lustrum Book. Furthermore, during the Opening of the faculty Academic Year an exposition will be opened to celebrate the combined Lustrum of the faculty and the EBF. This exposition will be shown in the Plaza of the Duisenberg Building.

Digitalisation The current environment of the EBF shows an increased need for digital accessibility. Also, digital accessibility is more and more expected as a standard in every organisation. The EBF Board therefore strives to make the association more present in the digital world, strives to grow in digital accessibility and to follow the trends related to digitalisation.

Therefore the EBF Board strives: •

To explore the possibilities to increase digital accessibility before the 1st of September 2012.

This target has been achieved

In order to improve the digital accessibility for EBF Members multiple options were explored. For example by polls on the EBF Website and a survey amongst EBF Members, information about the preferences of the EBF Members was retrieved. This information was used in deciding the options that are worth investing in. These options include, for example, the decision to invest in a mobile website or EBF Application. Due to the complex content and options that need to be integrated in the 48

EBF Application the decision was made not to make this investment yet. Other aspects of digitalisation, such as reducing paper waste, will be done by offering EBF Members the choice of whether they would like to receive the Prospect Magazine digitally or hardcopy. Furthermore, the EBF Almanac and Lustrum book will also be available digitally. Lastly, a plan concerning digitalisation for the upcoming years has been written. This plan consists of concrete actions that can be undertaken or invested in in order to increase the digital presence of the EBF. Membership Value Cards The EBF offers her members distinctive discount actions associated with EBF Membership. EBF Members can use these discounts by displaying their EBF Membership Value Cards. In order to provide cards to all members of the EBF, the system needs to be optimised.

Therefore the EBF Board strives: • To improve the Membership Value Cards system before the 1st of March 2012; • To provide maximum Membership Value via the Membership Value Cards before the 1st of September 2012.

These targets have been achieved Concerning the system of the Membership Value Cards the focus has been on establishing a long term solution. The membership administration was renewed and new EBF Members now are obliged to upload their photo when they become a member of the EBF. Also, printing the cards is now outsourced to an external party. In the future, all first-year EBF Members will get their Membership Value Card automatically at the beginning of the academic year. Besides this, there will be a second batch ordered for first-year EBF Members and older members who have requested a (new) Membership Value Card later in the academic year. The Membership Value Cards will be sent to the members after being printed by the external party. The general terms of agreement are attached to the letter as well as all the current discounts related to the cards, which hopefully will stimulate the usage of the Membership Value Cards.

Concerning the maximal membership value that is associated to the card, it can be said that this has been realised as well. The Acquisition Team has worked on providing several discounts and deals associated with the cards. Although at the moment the cards can be used for several discounts, the Acquisition Team, as well as the EBF Board, will continue to improve the discounts that every member can get with the Membership Value Card. Once all EBF Members have a card, members will also need their card for the EBF Booksales and other activities.

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Activities Active Members’ Activities On Thursday the 28th of June the final Active Members Activity took place. Over 90 active members gathered at the &ZO for a social evening. The evening started off with a quiz in teams and then the UEFA Euro 2012 semi-final was watched together with a drink and a snack.

Agenda This year the Promotion Team was responsible for the design and production of the EBF Agenda, supervised by the EBF Board. Some minor changes were made to the content and design, for example the more detailed information for each EBF Activity was spread throughout the agenda instead of at the back. Furthermore, the EBF Agenda 2012-2013 is entirely in English. The cover also has a completely new design. For the first time, there is a QR code in the EBF Agenda that links to a digital agenda. This digital agenda is still being made at the moment of writing this. The content is made up of important deadlines, the planning of the EBF and her sub-associations, faculty information and the planning of the faculty. Again, 3000 EBF agendas were ordered and will be handed out during the resits and EBF Activities.

Alumni Activities In the past year the EBF/FEB Alumni Committee has been organising activities for the alumni of the Faculty of Economics and Business in cooperation with the faculty and the aEB Foundation. On the 16th of April a company visit to the ministry of Economic Affairs, Agriculture and Innovation took place. Furthermore on the 23th of June the Alumni Symposium took place in Hilversum. Three interesting speakers from the academic field, business field and government elaborated on the theme ‘Energy in the Future’. Both events attracted around 20 alumni. Also, the committee has been working on organising company visits for the upcoming half a year. In November there will be a company visit to Prorail, in January a company visit to ‘van Wijhe Verf’ and in March and April company visits to respectively Schiphol and Shell. The activities are promoted through the Alumni newsletter, LinkedIn, Facebook and the new aEBGroningen website.

Bachelor Ceremony On April 27th the second Bachelor Ceremony of the year took place at Zernike. Together with the faculty the ceremony was organised for a small group of 61 students. The EBF Board offered all students congratulations with a rose and a small gift and explained the possibilities within the EBF during their Master studies.

Bachelor Symposium On the 16th of May the EBF Bachelor Symposium took place at the Zernike Complex. The Bachelor Symposium is a new name for the Freshmen Symposium. The theme was ‘Cost Reduction & Multinationals’. During the day lectures were organised by various speakers Ruben Wegman (CEO Nedap), Gertjan Lankhorst (CEO Gasterra) and Joost Jetten (Vice President TomTom Benelux).

Workshops were given by Doc Advies, Ministry of Domestic Affairs, Theasis and Nedap. The entire 50

day was moderated by the moderator of the Day, Mr W.A. Dolfsma. The day concluded with a drink in the Kapteynborg Canteen for all attendees.

Batavierenrace On the 27th, 28th and 29th of April a group of 30 EBF Members left to Enschede, for the annual Batavierenrace. A team of 25 people ran from Nijmegen to Enschede from Friday night till Saturday afternoon. The spirit was high and the participants had a great weekend with a successful result: the EBF finished 170th out of 350 teams from all over the country.

Booksale On the 1st and 2nd of May the last Booksale of this Academic Year took place on the first floor of the Duisenberg Plaza. There were around 600 orders and the organisation of the event went well. This was the first EBF Booksale where students could also pay for their books via iDeal, which proved to be very popular and a valuable addition to the system. On the 4th of September the first-year Booksale will take place during the Faculty Introduction Week. On the 31st of August and the 3rd of September Booksale 1.1 for senior students will take place.

On the 1st of July a new three-year contract was signed with Study Store, who has also been our partner in organising the Booksales over the past five years.

Business Class Last year there have been 13 Business Classes, which is an increase compared to the previous year. Below a list of the courses for which a guest lecture was organised is presented. In addition, there has been increased contact with the course coordinators of Business Administration and Economics and Business Economics with regard to the Business Classes. Also, other course coordinators have been better informed through an information folder which was handed out to faculty staff.

Course: International Economics IIb (Economics & Business Economics) Lecturer: Wouter Elsenburg, Ministry of Finance Course: Finance I (Economics & Business Economics)/Financiering I (Business Economics) Lecturer: Emile Spijkerman, Ministry of Finance Course: Onderzoeksmethoden II (Business Administration) Lecturer: Arjen van Hijum, Store Support Course: Organisatieverandering (Business Administration) Lecturer: Michiel Kahmann, Herdis Course: Human Resource Management (Business Administration) Lecturer: Tjerk-Jan Adema, Capgemini Consulting 51

Course: Finance II (Economics & Business Economics, International Economics & Business) & Financiering II (Business Economics) Lecturer: Jobbe Jorna, Associate Director KPMG Course: International Economics IIa (Economics & Business Economics) Lecturer: Eva Oskam, Ministry of Economic Affairs, Agriculture and Innovation Course: Operations Management (Business Administration) Lecturer: Erik de Gilde, Plant manager Scania Course: Information Systems Management (International Business & Management) Lecturer: Joost Mortier, projectmanager OV-Chipcard NS Course: Financial Management (International Business & Management) Lecturer; Joerg Kehlen en Katja Slendebroek, controllers van FrieslandCampina Course: Organizational Structure (International Business & Management) Lecturers: Gerald Knol en Tom Geerdink, Excecutives searchers HoltropRavesloot & partners Course: Statistiek I (Bedrijfseconomie/Fiscale Economie/ Accountancy &Controlling) Lecturer: Frans van der Horst, Director Research TNS Nipo Course: Operations Management (Business Economics) Lecturer: Erik de Gilde, Plant manager Scania Dutch Inhouse Tours The Dutch Inhouse Tours was organised in April and May 2012 for the fourth time. The EBF organised this event in cooperation with Aureus (Faculty Association for Economics and Business at the “Vrije Universiteit Amsterdam”) and Sefa (Study Association Economics and Business, University of Amsterdam). In recent years a number of different improvements were made to the event, including a penalty clause that has been added to ensure that participants pay a fine when they do not show up. Furthermore, in order to improve the efficiency of the event the responsibilities of the different committees and board members of each association have been clearly defined. For next year the task division and agreements are currently being made based upon previous years. This year a total of 538 students registered for the Dutch Inhouse Tours.

European Study Research (ESR) Bratislava On Sunday the 27th of May 25 students, the ESR Bratislava committee, one EBF Board Member and two teachers of the Faculty of Economics and Business went to Bratislava. The research in Bratislava was related to the theme: ‘Entering the EU – Broadening boundaries or breaking limits?’

The group visited ESET, Ahold, Hewlett-Packard, the Dutch Embassy, Volkswagen, IBM, Price Waterhouse Coopers and Heineken. Besides the company visits, the group visited several cultural 52

highlights of the city. The syllabus with the final research has already been handed out to the participants during a last social with the ESR Bratislava committee and the group of participants.

Faculty Introduction Week Every year a Faculty Introduction Day is organised for all first-year students. This year, at the same time as introducing the new bachelor programmes, the faculty will organise an introduction week instead of just one day. The EBF and her sub-associations will have an active role in this week in introducing the students to the faculty and student life. During this week all students will attend the EBF Booksale and one of the ‘Be Active’ workshops. During these workshops active membership will be explained and multiple possibilities of active membership will be discussed. There will also be the opportunity to promote the EBF and her sub-associations by doing a promotional stunt in this week.

Former Board Day On Saturday the 16th of June around 40 current and former board members of the EBF were welcomed in Amsterdam for a boat trip on the canals of Amsterdam. Together they could catch up with predecessors and successors from five years of EBF and some previous board members of Bedrijfskunde in Groningen (BIG) and Economische Faculteitsvereniging (EFV). Afterwards there was dinner and social in a nearby restaurant.

Honours Forum In total three Honours Forums took place this year. In October the first Honours Forum took place in Louis XV and was related to the theme ‘The Future of Europe’. The second Honours Forum took place in February in the Academy Building with lectures on the ‘Trends of Innovations’. The third Honours Forum took place in June and elaborated on the economic growth and competitiveness of European countries in the 21st century. This Forum also took place in the Academy Building. All of the Honours Forums were full with over 50 attendees each.

Informational Activities Several informational activities took place in the last few months. Here the EBF had the opportunity to represent herself in cooperation with the Faculty of Economics and Business. In March there was the opportunity for secondary school students to experience their potential study at the ‘Student for a Day’ event. Students were offered a day programme with a tour around the EBF Building, which included a presentation with more information on the added value of being an (active) member of a committee in Groningen. Additionally, for the second time this year the EBF explained future (Master) students what their possibilities are with the EBF at the Master Your Talent Fair in May. Finally, the EBF was invited to address a group of parents about the possibilities besides your studies at the Faculty Parent Day. Here an active member shared her experiences within the EBF. International Business Research (IBR) Indonesia & Brazil

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After the preparation phase, in May and June the two International Business Researches have left to Indonesia and Brazil. Both groups have now returned after a successful period abroad. At this moment, the participants of both projects are working on finishing the final results of the researches.

International Business Research (IBR) Vietnam & Colombia After the start-up of the new IBR Executive Boards, the destinations Vietnam and Colombia have been chosen for the upcoming academic year. At this moment, both Executive Boards are working on establishing their research projects. The participants for both of the trips will be recruited at the end of September.

International Day On the 14th of March the International Activity Workgroup organised the International Day. The Duisenberg Plaza was filled with students and staff from over 15 nationalities, where everybody was welcome to share their culture and have a taste of some traditional bites and drinks. Many people were interested in the different countries and Indonesian students provided a short traditional dance show including songs.

International Symposium On the 14th of June the International Symposium took place at the Zernike Complex. The theme was: ‘Survival of the fittest, how do world-events influence Business and Economics’. The symposium was linked to the course International Economics for International Business & Management. Almost 300 bachelor students participated and visited lectures from Roger van den Heuvel (Partner at KPMG) and Joost Mortier (Project Manager OV-Chipcard at NS). Workshops and Master classes were given by: Nuon, Holland Trading group, Holtrop Ravesloot and AFAS. The day concluded with a drink in the Bernoulliborg canteen.

Leadership Panels Last half year the EBF organised two Leadership Panels. The first Leadership Panel took place on the 21st of March with Roger Dassen, Global Managing Director Deloitte. The Leadership Panel was open for international students and there were about 80 students present. The second Leadership Panel was with the Dutch Minister of Finance Jan Kees de Jager. The attendance of this Leadership Panel was very high with almost 600 students in the Aletta Jacobshal.

At the moment of writing, the Leadership Panel with Marc Bolland (CEO Marks and Spencer) and Jeroen Smit (author of ‘De Prooi’) still has to take place in the beginning of September. This will be in cooperation with the faculty during the Opening of the Faculty Academic Year.

International Movie night On the 23rd of May the International Activity Workgroup organised a movie night at the Zernike Complex. A group of 30 students listened to Prof. De Bruin who explained about the current economic crisis. Afterwards the attendees watched the movie ‘Margin Call’ about this subject.

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New Active Members’ Weekend On the 30th and 31st of March the new active members weekend took place were 60 people from new committees left to Lauwersoog. There the committees played acquaintance games and got to know the EBF, the EBF Board and each other by a quiz. Afterwards dinner was served and the evening continued with a party.

Prospect Magazine Four editions of the Prospect Magazine were published during the last year. Next to the conference edition there were three regular editions. Among others, interviews were held with Tex Gunning (Board of Directors Akzo Nobel), Prins Bernhard van Vollenhoven- van Oranje Nassau, Roger Dassen (Global Managing Director Deloitte), Dennis Karpes (Founder Naga Foundation) and Lex Hoogduin (Former Director Dutch Central Bank). The Prospect Magazines had a circulation of 7000 copies and is received by students, faculty staff, alumni and companies. From this year onwards it will also be possible for students to choose whether they want to receive the Prospect hardcopy or digital.

Recruitment Activities On the 6th of June, the EBF organised a Recruitment Activity with ING. The participating students were selected based on their resumé. During an informal dinner in Louix XV the selected students could meet and talk with four trainees and a recruiter from ING.The dinner provided a good opportunity for the students to ask their questions about ING and learn about working for ING. Socials and Parties At almost every monthly social there was a theme, country or colour announcements for a specific event. The May social had the theme ‘Childhood Heroes’. During this social the EBF Candidate Chairman 2012-2013 was announced.

Finally, on Monday the 4th of June the End-of-the-year Party closed the year with the announcement of the EBF Candidate Board 2012-2013 and the announcements of the themes of the EBF Conference and EBF Lustrum. DJ J-Nasty, The Flexican and MC Sef played their music for over 600 people in Huize Maas.

Summaries Over the past year many summaries have been sold to students at the faculty. Students can now also pay by card, which was a big improvement for the EBF Shop, as it makes it even easier for students to buy EBF Summaries.

Trainings On the 9th of May another EBF Training took place at the Zernike Complex. The training was provided by Boss Control and was about persuasion and influencing. By theory and practice 20 students gained insight in how to be more aware of these topics in their personal lives.

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University Colloquium On the 22nd of February, together with the University Board and Studium Generale, a colloquium was organised for which we invited Jan Hommen (CEO ING) to speak for an audience of 300 students. Moderator of the Day was Prof. Dr. Garretsen (Dean of the Faculty of Economics and Business). After the lecture by Jan Hommen there was a discussion with the audience and a discussion panel. Jan Hommen participated in the discussion panel, as well as Rafael Wittek (Professor of Sociology), Boudewijn de Bruin (Professor of Financial Ethics) and Oscar Couwenberg (Professor of Law and Economics).

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Internal Affairs Housing The EBF has a good relationship with the facility services of the Faculty of Economics and Business.

ICT Last year 8 new computers and screens were been installed in the flexible working area. To react more quickly to computer problems the email address ict@ebfgroningen.nl was created, which is a central place to post questions regarding computer problems. Four new printers were installed in the board rooms of the EBF, MARUG, VESTING and Risk for a period of three years.

Mastercommunities This year the EBF has had seven Mastercommunities. The master programmes for which a Mastercommunity has been established are Human Resource Management, International Economics & Business, International Business & Management, Business Development, Strategy and Innovation, Change Management and Small Business and Entrepreneurship. The Mastercommunities organise various activities and are self-sufficient. Many of them organised one or two formal events throughout the entire year and a social every month. In the upcoming year the EBF Board will focus more on guiding these communities and align the activities they organise.

Furthermore there will be one selection round every semester for the Mastercommunities in order to improve the continuity.

Members The new membership administration system that was implemented in September 2011 works very efficiently. The members’ administration is now reasonably up-to-date. There were some problems with the direct debit for the membership fee that was done in May. Some students, that had already paid an unlimited members’ fee in previous years, wrongly had the yearly members’ fee written off their bank account. When the old membership administration was imported to the new membership administration system in September 2011, some people were wrongly imported as a yearly member.

All of the emails we have received about this problem have now been changed in the system to prevent this from happening again.

Social Media This year Facebook and Twitter were used by the EBF. There is also an EBF LinkedIn account.

Facebook and Twitter were mainly used for the promotion of EBF Activities, but there are many opportunities to make more extensive use of these social media channels. A plan was written on how social media could be used more extensively in the future.

Strategy 2015 During the academic year 2011-2012 the EBF Board has tried to focus on some specific strategy points within the boundaries of the Strategy 2015. These points were included in the policy plans from the past year, for example internationalisation and optimizing the membership value for EBF 57

Members. Through this, the first steps have been made in realising the Strategy 2015. In the upcoming years the EBF Board will be able to choose their focus points based on the Strategy 2015 as well.

Study Support At the beginning of the Academic year, the EBF started offering tutoring classes in cooperation with Capita Selecta. For first-year students tutoring classes are offered to support their final exams as well as their midterms. For senior students the tutoring classes are offered to support the final exams only. EBF Members will receive several advantages such as discount and a 100% passrate. In the first half a year, some aspects of the cooperation seemed to need extra attention and care. One of these aspects was the promotion of the tutoring classes and the advantages for EBF Members. After an evaluation at the end of the academic year, the EBF Board has decided to continue to cooperate with Capita Selecta. Several small improvements will be made to make sure the tutoring classes will be better known and recognised by students. In this way more students will be able to enjoy the advantages that are offered by the EBF.

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Environmental Analysis Alumni By organising activities in cooperation with the aEB Foundation the relationship with the alumni of the faculty and alumni of the EBF is hopefully strengthened. During the EBF Lustrum alumni of the Faculty and EBF will be invited to go to the EBF Conference including the lustrum programme.

Furthermore the EBF Lustrum will also contain an activity for former active members of the EBF which now can be alumni. Lastly, during this year the Prospect Magazine focused on alumni in a renewed alumni section.

Association Council Throughout the year three meetings took place with the Association Council. During the last meeting, on the 24th of August, the results of the past year will be discussed and the policy plans of the EBF Candidate Board will be discussed. Also, the meeting will be used to evaluate and implement the new plans for the advisory councils of the EBF. Board of Advice In August 2011 two members of the Board of Advice have been visited, Mr Postma and Mr Alblas. In the second half of the year there were no appointments made with other members of the Board of Advice.

Central Executive Board for Student Organizations (CUOS) The CUOS advises the Board of the University on the decision on committee grants for different student organisations. During the year, contact with the CUOS Board concerning questions about the future committee grants have been good.

Faculty of Economics and Business The EBF has a good relationship with the Faculty of Economics and Business. Once every three weeks there is a meeting with the dean. Furthermore, there is intensive contact between the EBF Board and the department of communications about promotion, ICT, external relations, alumni and career services. The EBF is involved in multiple project teams concerning career services and the introduction week for first year students. Also, the EBF Conference and EBF Lustrum committee stay in touch with the Faculty to discuss their plans and activities.

Fysisch-Mathematische Faculteitsvereniging (FMF) The FMF is the association for students who study the Bachelor in (applied) Mathematics, (applied) Physics, Computer Sciences or Astronomy at the University of Groningen. The EBF jointly organizes the Consulting Event with the FMF. Again, this year the contact and cooperation has been satisfying.

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During this academic year there were several moments of contact with the FVOG Board and its related associations. The contact has been good and informative. Most information was about strategic and policy points of the University Board.

Internationaal Overleg Studieverenigingen (IOS) In the past year, there have been several meetings with the associations’ that are members of the IOS. In the first half year there was more contact than over the past half year, because in the first half year there was more information to share. Since this was the first year these meetings were done, the meetings will be evaluated and afterwards continued or stopped.

Juridische Faculteitsvereniging Groningen (JFV) The contact between the EBF Board and the JFV Board has been intensive and enjoyable. In the organisation of the jointly organised Christmas ball, the agreements and task division between the JFV Board and EBF Board have been good. In addition, the cooperation and supervision of the Christmas ball committee went well.

Quest Even though the contact with the Quest Board has been consistent and took place on a weekly basis over the past academic year, the Quest Board has been missing a certain control over their activities.

The Quest foundation is founded by the EBF. However, the EBF does not supervise the activities and plans of the Quest Board in a formal way. For the upcoming year there are some improvements planned which will be implemented. A Board of Advice will be established which will advise and control the Quest Board. At the moment the Quest Board is working on selecting the Thesis of the Year and Lecturer of the Year award that will be handed out during the Opening of the Academic Year.

Sister associations In the first half year there have been several moments planned with sister associations to share information and knowledge. This was done both in meetings with SEBO, the foundation of Economics and Business consolation, but also by benchmark sessions with individual sister associations. These moments were very valuable for the EBF Board. The EBF Board tried to plan a benchmark session with the five biggest associations for Economics and Business, Study Association Rotterdam School of Management (STAR), ‘Economische Faculteitsvereniging Rotterdam’ (EFR), Study Association for Economics and Business of the University of Amsterdam (Sefa) and the Faculty Association for Economics and Business at the ‘Vrije Universiteit Amsterdam’ (Aureus). This benchmark session is, concerning planning constraints, planned for the academic year 2012-2013. The informal contact between the EBF and her sister associations is still good.

Student Advisor Faculty Board Throughout the year the EBF had a good relationship with the student advisor of the Faculty Board, Thijs Beudeker. The student advisor regularly has contact with the EBF Board to discuss current matters in the Faculty.

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Sub-associations The relationship between the EBF and the sub-associations is good. During the Platform Chairmen meetings there are enough opportunities to discuss current topics. This is also the moment to discuss developments within the associations, activities, planning and other matters. Besides the contact in the Platform Chairman meetings there is contact with the sub-associations in the supervisory board meetings. Here policy plans, activities, strategic plans and other affairs are discussed.

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Active Members Overview Arjan Huttinga (Treasurer/Commercial Relations II) Acquisition Committee

Artur Jager (Commercial Relations I)

Jan Willem Geut (Chairman)

Kim van Assendelft (Eveningorganisation)

Peter Frima (General Member)

Laura Super (PR)

Lisa Dekker (General Member)

Yente Morsink (PR)

Caspar Leusink (General Member) Evert-Jan Baas (General Member)

Consulting Event Marit van de Kerkhof (Chairman)

Activity Committee

Dennis van Dijk (Commercial Relations I)

Lennart Speller (Chairman)

Matthijs Polstra (Treasurer/Commercial Relations II)

Thijs Mooij (Treasurer/Commercial Relations II)

Rob Jagt (PR)

Thijs Benedek (Commercial Relations I) Marijn Settels (PR)

Dutch Inhouse Tours

Fleur Kamp (Day Organisation)

Merel Notenboom (Chairman) Petra Schrijver (PR)

Alumni Committee

LuciĂŤnne Schobben (Treasurer/Commercial Relations II)

Leon Stel (Chairman)

Hadewich de Roo (Commercial Relations I)

Rian Brackel (Day Organisation) Annabel Annen (PR)

EBF Conference

Leonie de Zeeuw (Commercial Relations)

Jeanelle Midavaine (Chairman)

Chieljan Pierik (Treasurer/Commercial Relations II)

Nynke Jongstra (Vice-chairman/Theme,Speakers) Bas de Vries (Commercial Relations I)

EBF Bachelor Symposium

Nick Bink (Treasurer/Commercial Relations II)

Sebastiaan Wijsman (Chairman)

Yiling Zhang (PR)

Elias Schotsman (Treasurer/Commercial Relations II)

Bertine Riezebos (Day Organisation/Logistics)

Sam Peetsold (Commercial Relations I) Inez van der Vet (PR/Secretary)

ESR December

Anke Smilde (Day Organisation/Logistics)

Reinier Hovius (Chairman) Eveline Loozen (Treasurer/Travel Coordinator)

Business Class

Dennis Linn (Commercial Relations)

Stan Graumans (Chairman)

Florentine Hasselaar (Commercial Relations)

Wieke Smit (General Member)

Folkert van Zanten (PR)

Wessel Exterkate (General Member)

Mariska de Jonge (Research Coordinator)

Sylvie Siertsema (General Member) ESR Bratislava (May) Christmas Ball

Erik de Jong (Chairman)

Milou Oude Sogtoen (Chairman)

Erik Breeuwsma (Treasurer/Travel Coordinator)

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Steven Verhoeven (Commercial Relations)

Lustrum Committee

Carolina Castillo Werna (Commercial Relations)

Dirk van den Belt (Chairman)

Eike Ellerbrock (PR)

Gijs van Krimpen (Treasurer/Vice-chairman)

Celine Göbel (Research Coordinator)

Leontien Hooge Venterink (Commercial Relations I)

IBR Vietnam Martijn Maatman (Chairman) Femke Baum (Vice-chairman/Treasurer) Serena Kuiper (PR/Travel Coordinator) Robert Bos (Commercial Relations) Manon Vermeulen (Commercial Relations) IBR Colombia Samy Lounis (Chairman) Melvin de Vries (Vice-chairman/Treasurer) Jenny Bekkering (PR/Travel Coordinator) Gioia Nijenhuis (Commercial Relations) Alex Crick (Commercial Relations) International Activity Workgroup Judit Osika (Chairman) Erik Merkus (Treasurer/Commercial Relations II) Jolvie Kengue Mahoungou (Commercial Relations I) Khaleda Pajman (PR/Secretary) Nelli Wedel (Evening Organisation/Logistics) International Symposium Sander van 't Hof (Chairman) Kirsten Jager (Treasurer/Commercial Relations II) Niels Oskam (Commercial Relations I) Solveig Vogel (PR/Secretary) Diana Pagila (Day Organisation/Logistics) Introduction Committee Mike Kruijer (Chairman) Steven Kuipers (Treasurer/Commercial Relations II) Femke Buijs (Commercial Relations I) Mirjam Oosterhuis (PR/Camp Coordinator) Sven van Meurs (Secretary/Camp Coordinator)

Martine Niezink (Commercial Relations II) Marin Teinsma (PR I) Carien Nieters (PR II/Lustrumbook I) Patrick Uffels (Day Organisation/Logistics) Marieke de Jong (Evening Organisation/Lustrumbook II) Lustrum Organisation Team Esther Voortman Linda Rietveld Emma Kooij Sebastiaan Wijsman Rang Kazzaz Erik Merkus Merel Notenboom Mike Kruijer Lustrum Book Team Bart Claassen Graciëla Hoogendoorn Folkert van Zanten Frank van Loo Promotion Team Gjalt Eersteling (Chairman) Frank van Loo (Photo/Film) Anna Dantuma (Photo/Film) Hester Notenboom (Photo/Film) Jannes van der Wal (Filmproducer) Esther Groenert (Brainstorm) Graciëla Hoogendoorn (Brainstorm) Bas Wagenmaker (Brainstorm) Prospect Magazine Stefan Kapell (Chairman)

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Rick Lotterman (Editor)

Sietse van der Meer (Commercial Relations)

Pieter Lindeman (Editor)

Daan Freriks (PR)

Bram Raatjes (Editor)

Anne Gierveld (Treasurer)

Jing Chen (Editor) Marriël Edzes (Editor) Ilse Spoelstra (Lay-out)

Mastercommunity HRM Janita Nagelkerke (Chairman/Treasurer)

Pamela Bediako (Lay-out)

Franka Reuvers (PR)

Marieke Snijders (Lay-out)

Paula Boom (Commercial Relations)

Dianne Warmelink (Chairman)

Mariët Oosterveld (Commercial Relations)

Floris Wolven (Treasurer) Cecile Post (Commercial Relations I) Cees Leijten (Vice-chairman/Commercial Relations II) Eline Brantsma (PR) Janiek Moes (Day Organisation I) Ilse Ballast (Day Organisation II) Speakers Team Rik van Hees (Chairman) Okke Scholten (General Member – Coordinator LSP) Joost Legebeke (General Member – Coordinator Interviews) Jelle Thole (General Member - Secretary) Robert van der Wielen (General Member – Commercial Relations) Paulus Zeinstra (General Member - PR)

Mastercommunity Explore Allard Klinkers (Chairman) Machteld Burgler (Commercial Relations) Marloes Luttje (PR) Mastercommunity Transition Theo Bruins (Chairman) Liesbeth van der Meer (PR) Erwin Mulder (Treasurer) Daniel Aalbersberg (Activities) Lynn ten Brummelhuis (Activities) Mastercommunity Enterprise Kay Eline de Wolff (Chairman) Marijke de Jong (Commercial Relations) Henny Ziel (Treasurer/PR)

Support Reinier Smits (Commercial Relations)

Mastercommunity Aspire Barbara Brommer (Chairman)

Gijs Muller (PR)

Linda Oldemaat (Secretary)

Ruud Buijserd (Treasurer)

Roy Terenstra (Treasurer/Commercial Relations)

Bas Boekema (BS External Coordinator)

Harm Robben (Commercial Relations)

Chris de Jong (BS Internal Coordinator/External II)

Yvonne Chen (PR)

Jurjen Lelifeld (BS Salesmanager)

Yue Jiang (PR)

Dana Kwakman (Chairman)

Rang Kazzaz (SM External) Irene Gercama (SM Shopmanager)

Mastercommunity IE&B

Mastercommunity Ambizzious

Judith Reijnders (Treasurer)

Nicholas Morgan (Chairman)

Elwin Stevelink (Chairman)

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Marjolein Tepper (Commercial Relations) Tijn Scheffer (Commercial Relations/Alumni) Jenny Thronaes (PR) Remco Hoogma (Logistics)

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Signed for agreement by the complete EBF Board 2011-2012 Eva Kool Chairman

Mariska Kapelle Vice-chairman

Sophie Paulides Promotion & Secretary

Martinus van der Wal Treasurer

Ewoud Helder Commercial Relations I

Francine Tol Internal Relations

Harmen Claassen Public Affairs & Commercial Relations II

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Report Audit Committee 2011-2012

After having audited the financial statements of the Economic and Business student Faculty Association, the audit committee can conclude the following: As audit committee it is our task to make sure that the financial report is an accurate representation of the financial position of the EBF. We hereby officially confirm that this is the case for the financial report 2011-2012 as presented here by Martinus van der Wal. Besides this, it is our opinion that Martinus has fulfilled his task as treasurer above expectations.

His effort has been excellent, as demonstrated by his long office hours and successful completion of all regular treasurer tasks. He has added considerable value to the EBF by successfully implementing new policies such as hiring an intern and improving the administration.

We would like to thank Martinus for the satisfactory, although he was sometimes a little cheeky for our tastes, cooperation and wish Martinus good luck with finishing his studies and with the rest of his career. Furthermore we would like to wish the EBF Board 2012-2013, and especially Aaron van Gils, a very successful year. We are looking forward to cooperating with Aaron. The many times he provided us with coffee this summer already gave us a good prospective.

The Audit Committee 2011-2012,

Tim van Oorschot

Hans Dijkhuizen

Bas Schram

Joeri Schasfoort

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Yearly Financial Report EBF Board 2011-2012

Eva Kool Mariska Kapelle Sophie Paulides Martinus van der Wal Ewoud Helder Francine Tol Harmen Claassen

Chairman Vice-chairman Promotion & Secretary Treasurer Commercial Relations I Internal Relations Public Affairs & Commercial Relations II

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Introduction Groningen, 29th of August 2012 Dear Members, The past year was a financially interesting year. On the following pages the financial results of the EBF are shown for the accounting year 2011-2012.

During the past half a year, around April 2012 it became clear that the acquisition target would not be achieved. From this point onwards there was an extra focus on the expenses of the board budget, in order to cut costs. For example, a cheaper publisher was found for the EBF Agenda and the Prospect. This resulted in cost savings for this year and next year.

Incidental results, in combination with a lower result on acquisition, resulted in the EBF making a profit this year. Therefore the goal to break even was not achieved. This is mainly due to released provisions for the Beat the Future event and ICT and network costs, which proved not to be necessary. Secondly the telephone and ICT costs proved to be much lower, which became apparent at the end of the year.

Another incidental profit came from the membership fees. Due to various inconsistencies in the old membership administration, which was imported to the new website and membership administration at the beginning of this year, a number of direct debits were marked as doubtful.

Some members that may have already paid unlimited membership were imported as yearly members, which meant the yearly membership fee was debited this year. For several members this has been solved and for any potential remaining incorrect yearly direct debits an amount has been set aside to be able to pay these amounts back.

The total equity of the EBF improved this year. This is because two old foundations, namely the EFV Boekenverkoop and BIG Congres were terminated and the equity of these foundations was transferred to the EBF. These foundations were not used or needed anymore, since the events are no longer organised within these foundations, so these could be terminated.

Furthermore, during the year it became clear that the workload for the treasurer is relatively high and increases every year. Therefore there has been a focus on decreasing this workload. A new billing system was implemented and several new general formats and policies were made. The largest change is that the EBF had a financial intern for ten weeks. This proved to be effective in reducing the workload, whereas the quality of the work was maintained

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Yours sincerely, On behalf of het EBF Board 2011 – 2012,

Martinus van der Wal Treasurer

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Economics and Business student Faculty association Balance Sheet Account

Description

0001

Computers

0002

Office equipment and inventory

0003

ICT hardware

Balance (31-07-2011)

Balance (31-07-2012)

11.733

9.072

6.000

1.234

Assets

Total Fixed Assets

515

3.148

18.248

13.454

0012

Amount receivable Dutch Inhouse Tours

1001

Accounts receivable

1021

VAT receivable

1091

Amounts receivable

1092

Prepaid amounts

64.875

6.316

7001

Writing paper

Total Current Assets

5.000

5.000

77.938

101.586

1.619

2.723

15.848

6.866

3.330

2.153

168.610

124.643

1042

Bank - EBF Checking account

30.730

3.691

1043

Bank - Direct debit account

1.030

100

1044

Bank - Recruitment Days

1.051

100

1045

Bank - EBF Savings account

203.419

172.583

1047

Bank - EBF Conference

1.565

100

1048

Bank - US Dollar account

Total Cash and Cash Equivalents Total: Assets

52.243

0

290.038

176.574

476.896

314.672

142.491

Liabilities 0021

Equity

120.540

0023

Retained earnings

-17.721

6.793

102.819

149.284

Total Equity 0041

Provision lustrum

40.000

50.000

0042

Provision subsequent expenses

10.713

6.010

0043

Provision general policy

16.000

0

0044

Provision committees

38.000

20.000

104.713

76.010

62.800

57.699

Total Provisions 0031

Membership fees received in advance

0051

Amounts payable MARUG

1011

Accounts payable

1022

VAT Payable

1093

Amounts Payable

1094

Amounts received in advance

1095

Current account EBF IBR Foundation

Total Liabilities

1.500

0

16.835

2.964

5.194

2.994

45.919

5.500

135.325

20.221

1.792

0

269.365

89.377

2001

Interim account

0

0

2002

Unassigned

0

0

2011

Balancing entries

0

0

0

0

476.897

314.672

Total Balancing entries Total: Equity and Liabilities

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Assets 0003

ICT Hardware

The promotion TV screen above the EBF Shop in the plaza was added and will be written off over 5 years.

1001

Accounts receivable

The amount is relatively high, which is mainly caused by the large amount of subsidies the faculty still had to pay. As of the 24th of August 2012, the total amount is €30.200. There is still one old debtor from the accounting year 2010 – 2011.

All other debtors are from the past accounting year 2011 – 2012.

1021

VAT Receivable

Because of changed tax regulations, the current and future application of the tax rules that apply to the EBF need to be evaluated.

Equity and Liabilities 0022

Equity

The equity from de terminated EFV Boekenverkoop foundation and €40.000 from the provision committees have been booked directly to the equity of the EBF.

0041

Retained Earnings

The profit from the accounting year 2011-2012 has been booked to retained earnings. This will be added to the equity of the EBF.

0042

Provision subsequent expenses

This provision is mainly for expenses that still have to be billed by the faculty for services provided during 2011-2012.

0044

Provision committees

The provision from previous year has been transferred to the equity of the EBF. The equity from the termination of the BIG Congres foundation has been added to the provision. Of this, €20.089,09 from the provision was released for the organisation of the EBF Conference 2011.

0051

Account Payable MARUG

The loan from the MARUG was meant to contribute to the working capital of the EBF for the organisation of the Recruitment Days. Since this is no longer necessary the loan has been paid back.

1094

Amounts received in advance

These are the amounts that have already been received for the Agenda, Introduction Camp and the EBF Conference of the coming year.

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EBF Board 2011 - 2012 Income Statement Account Revenues 8001 8101 8102 8103 8201 8203 8401 8402 9101 9102 9103 9104

Description Acquisition revenue Membership fees Contribution participants Contribution Alumni foundation Subsidy faculty Subsidies and donations Written off accounts payable Sales revenuee Subsequent revenue Incidental profit Interest revenues Released provisions

Total: Revenues Expenses 4001 Telephone 4002 Postage 4003 Bank products 4004 Insurance 4005 ICT 4006 Accounting software 4007 Webhosting 4008 Advisory and Services 4009 Subscriptions 4010 Office equipment 4012 Writing paper 4013 Envelops 4014 Depreciation Total Administrative expenses 4101 Transportation 4102 Costs of residence 4103 Business gifts 4104 Committee gifts 4105 Declarations board and committees 4108 Former-board day 4110 Board of Advice and Advisory Council 4111 General Members' Meeting Total Representation expenses

Realisation (31-07-2011)

Realisation (31-07-2012)

315.497 23.149 73.521 8.500 39.374 5.351 0 19.180 2.883 265 2.780 14.728

277.656 27.538 220.299 8.500 38.546 11.280 2.922 19.177 2.376 3.242 2.990 37.964

505.228

652.490

4.271 9.278 968 6.376 4.504 1.082 4.914 3.009 2.575 944 847 25 11.351 50.144

3.064 10.174 1.365 7.812 4.161 881 4.770 10.298 1.695 1.448 1.558 0 11.363 58.588

30.157 784 4.080 1.592 8.765 1.849 499 3.927 51.653

33.237 550 3.851 1.952 11.164 2.480 423 4.395 58.053

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4201 Posters, flyers and banners 4202 Pens and gadgets 4203 SMS 4204 Website adjustments 4205 Promotional stunts 4210 Printing Total Promotion expenses

8.243 5.221 2.700 5.090 2.222 74.493 97.969

7.517 1.396 3.549 2.255 1.496 61.854 78.067

4301 Active members activities 4302 General members activities 4303 Socials and consumptions 4304 Catering 4305 Accommodation 4306 Technical 4307 Artists 4308 Additional activities 4310 Leadership Panels Total Activity expenses

10.624 9.427 21.490 89.095 79.122 13.165 17.133 10.048 4.634 254.738

11.680 918 23.311 107.887 78.319 25.549 13.639 134.315 2.193 397.811

4418 Contribution Consulting Event 4422 Contribution Christmas Ball 4426 Contribution Recruitment Days 4429 Contribution TCD 4431 Contribution Dutch Inhouse Tours Total Committees

908 -377 15.741 1.385 -7.440 10.217

487 1.358 13.120 0 -3.192 11.773

4801 Lustrum Total Additions to provisions

10.000 10.000

10.000 10.000

4901 Uncollectible accounts 4902 Cost of goods sold 9001 Subsequent expenses 9002 Incidental loss Total Other expenses

10.468 10.917 1.984 24.855 48.224

10.807 10.189 7.763 2.647 31.406

Total: Expenses

522.945

645.697

Net income

-17.717

6.793

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General This is the income statement of the EBF, thus it is a combination of all committees and EBF Board results. Because International Business Research is organised within a separate foundation, it is excluded from the total EBF Income statement. Also, the Dutch Inhouse Tours is held within a separate administration, so only the result is presented on account 4431.

This is the second year that this income statement has been presented. Therefore, it gives us the possibility to compare both years on an aggregate level. A significantly higher turnover has been achieved in this year, which is mainly due the EBF Conference 2011, which included the key-note speaker Al Gore.

The result on the accounts contribution committees is the amount paid or received from each event that takes place in cooperation with other associations.

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EBF Board 2011 - 2012 Income Statement Account Revenues 8001 8101 8201 8401 9101 9102 9103 9104

Description Acquisition revenue Membership fees Subsidy faculty Written off accounts payable Subsequent revenue Incidental profit Interest revenues Released provisions

Total: Revenues Expenses 4001 4002 4003 4004 4005 4006 4007 4008

Realisation (31-07-2011)

Budget (01-02-2012)

Realisation (31-07-2012)

117.411 23.149 6.000 0 328 265 2.780 14.728

108.000 24.000 5.623 1.559 2.284 0 2.400 36.000

97.546 27.538 5.623 2.922 2.376 3.242 2.990 37.964

164.661

179.866

180.200

3.733 2.135 881 3.593 4.445 1.082 2.063 2.901

2.390 2.727 1.166 1.976 3.702 881 2.172 8.274

1.695 999 1.463 11.363 38.807 1.432 0 879 1.952 8.435 2.480 423 4.395 19.996

Telephone Postage Bank products Insurance ICT Accounting software Webhosting Advisory and Services Internationalisation Membership Value Cards Outsourcing and Efficiency 4009 Subscriptions 4010 Office equipment 4012 Writing paper 4014 Depreciation Total Administrative expenses

2.575 886 847 11.351 36.492

3.800 2.200 1.000 2.200 5.200 1.100 2.000 4.500 2.200 1.800 2.000 2.000 1.200 1.300 10.700 43.200

4101 Transportation 4102 Costs of residence 4103 Business gifts 4104 Committee gifts 4105 Declarations board and committees 4108 Former-board day 4110 Board of Advice and Advisory Council 4111 General Members' Meeting Total Representation expenses

1.444 320 1.188 1.592 7.950 1.849 499 3.927 18.769

1.800 0 1.200 1.900 9.600 3.000 1.000 4.500 23.000

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4201 Posters, flyers and banners 4202 Pens and gadgets 4203 SMS 4204 Website adjustments 4205 Promotional stunts 4210 Printing Total Promotion expenses

2.295 988 2.289 5.090 317 4.268 15.247

2.800 1.000 2.500 2.000 0 4.300 12.600

2.391 290 2.224 2.255 0 3.480 10.640

4301 Active members activities 4302 General members activities 4303 Socials and consumptions 4304 Catering 4305 Accommodation 4310 Leadership Panels Total Activity expenses

10.384 9.427 11.657 5.440 7.070 4.634 48.612

11.000 3.000 12.000 5.500 4.600 2.700 38.800

11.440 918 11.753 4.625 4.492 2.193 35.421

Total Committees

17.438

43.000

37.878

4801 Lustrum Total Additions to provisions

10.000 10.000

10.000 10.000

10.000 10.000

4901 Uncollectible accounts 9001 Subsequent expenses 9002 Incidental loss Total Other expenses

10.468 1.806 23.551 35.825

5.000 4.223 90 9.313

10.607 7.521 2.538 20.665

Total: Expenses

182.382

179.913

173.407

Net income

-17.721

-47

6.793

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Revenues 8001

Acquisition revenue

This amount is lower than budgeted because the acquisition during the last half year was significantly lower than in the first half year.

8101

Membership fees

Due to some problems with the new membership administration the total amount of yearly membership fees debited was significantly higher. The amount of yearly membership fees that could be doubtful has been booked on the incidental profit.

8401

Written off accounts payable

Old creditors, which after consultation with the creditors did not appear payable anymore, have been written off.

9102

Incidental profit

This profit is mainly from doubtful membership direct debits, an incidental discount on telephone costs and a book gain on the sale of the old Membership Value Card printer.

9104

Released provisions

The full provision for the Beat the Future event has been released. €20.089,09 of the new provision built from the equity of the terminated BIG Congres Foundation was released for the organisation of the EBF Conference 2011. €1874,41 was released for ICT network costs, because these costs were not realised.

Expenses Administrative expenses 4001

Telephone

Due to lower costs per minute charged by the faculty’s telephone provider and less usage of the telephones, the costs were significantly lower than budgeted.

4005

ICT

The ICT network costs billed by the faculty for this year were lower due to a lower price per network connection billed by the faculty.

4008

Advisory and services

The costs of the projects; Internationalisation, Membership Value Cards and Outsourcing and Efficiency are added to this account.

Internationalisation

This includes the costs for the translation of the Rules of Procedure, Articles of Association and several other formal

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documents.

4014

Membership Value Cards

The total costs for automated printing and delivery of the Membership Value Cards was higher than budgeted, because all new members who did not upload a picture also received a Membership Value Card.

Outsourcing and Efficiency

This budget was not fully realised. The costs for the financial intern fall within this budget.

Depreciation

A new accounting laptop was purchased and will be depreciated over three years. The promotional TV screen will be depreciated over five years.

Representation expenses 4105

Declarations board and committees

The result is lower than budgeted mainly because various committees have used less of the budgets for the suits.

Additionally the new network cost declarations for the board has not been fully used.

4102

Costs of residence

The account was not used this year. Because the account holds only a small amount and is for very specific types of expenses the account will not be used in the future. Any expenses of this nature will be booked on account 4105 from now on.

Activity expenses 4301

Active members’ activities

Due to a higher number of active members and more costly accommodation for the active members’ weekend the total costs were higher in order to keep approximately the same contribution per active member.

4302

General members’ activities

€1.500 was budgeted for the Beat the Future event. Because it was decided that all revenues en expenses from this event would be booked on the administration of the activity committee, the €1.500 is not booked on this account.

4310

Leadership Panels

Because there was one Leadership Panel less than budgeted, fewer expenses were made.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Committees

The total contribution was lower than budgeted. This is mainly because the Beat the Future event needed less contribution than expected, the Recruitment Days had less negative result on catering than previously was expected and the Christmas ball made an unexpected profit.

Other expenses 4901

Uncollectible accounts

The total amount written off was far higher than budgeted, because two old large debtors proved to be uncollectible.

9001

Subsequent expenses

This amount is higher because of subsequent costs for telephone, postage and mailings.

Net income

The goal of the EBF is not to have any long term profit or loss.

Therefore a zero budget was made. Nevertheless a profit has been made. This is mainly because of incidental profits and cost savings on telephone and ICT costs, which were billed by the faculty at the end of the accounting year.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Activity Committee Income Statement Account

Description

8001

Acquisition revenuee

8102

Contribution participants

Debit

Credit

Revenues 650 7.932

Total: Revenues

8.582

Expenses 4008

Advisory and Services

4101

Transportation

651

4106

Declarations committees

260

4201

Posters, flyers and banners

620

4203

SMS

672

4301

Active members activities

240

4303

Socials and consumptions

4304

Catering

4306

Technical

4307

Artists

4308

Additional activities

Total: Expenses

1.950

4.733 561 6.353 10.272 4.380 30.691

4411

Contribution Activity Committee

-22.109

Net income

0

The activity committee was closed with a negative result. This is according to the budget. â‚Ź 8000 was used for the general activities organised by the committee. The remainder was used for the Beat the Future Event on which a lower loss was made than budgeted. The loss will be transferred to the EBF Board budget by means of the account 4308: Contribution Activity Committee.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

84

International Activity Workgroup Income Statement Account

Description

8201

Subsidy faculty

Debit

Credit

Revenues 1.000

Total: Revenues

1.000

Expenses 4103

Business gifts

26

4106

Declarations committees

99

4201

Posters, flyers and banners

4304

Catering

758

4305

Accommodation

200

Total: Expenses

92

1.175

4430

Contribution International Activity Workgroup

-175

Net income

0

The International Activity Workgroup made a loss, which is lower than budgeted. The loss will be transferred to the EBF Board budget by means of the account 4430: Contribution International Activity Workgroup.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

85

Bachelor Symposium Income Statement Account

Description

8001

Acquisition revenuee

8201

Subsidy faculty

Debit

Credit

Revenues 875 2.652

Total: Revenues

3.527

Expenses 4010

Office equipment

153

4103

Business gifts

243

4106

Declarations committees

84

4201

Posters, flyers and banners

56

4210

Printing

4303

Socials and consumptions

4304

Catering

4306

Technical

Total: Expenses

315 513 2.100 63 3.527

4424

Contribution Bachelor Symposium

0

Net income

0

The Bachelor Symposium broke even. This is because the subsidy of the faculty is the balancing account. Fewer expenses were made, therefore a lower subsidy was asked from the faculty to arrive at a zero result.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

86

EBF/JFV Christmas ball Income Statement Account

Description

8001

Acquisition revenuee

8102

Contribution participants

Debit

Credit

Revenues 1.735 23.534

Total: Revenues

25.269

Expenses 4005

ICT

4010

Office equipment

4101

Transportation

10

4106

Declarations committees

57

4201

Posters, flyers and banners

482

4203

SMS

352

4210

Printing

225

4304

Catering

4305

Accommodation

4306

Technical

4307

Artists

4308

Additional activities

Total: Expenses

39 2

17.425 1.952 420 1.279 310 22.553

4422

Contribution Christmas Ball

2.716

Net income

0

The EBF/JFV Christmas Ball made a profit. This is due to the fact that the Christmas Ball sold out for the first time in two years. Therefore, the fixed costs were easily covered. The profit is divided between the Juridische Faculteitsvereniging (JFV) and the EBF. The profit for the EBF of â‚Ź1358,04 will be transferred to the EBF Board budget by means of the account 4422: Contribution Christmas Ball.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

87

ESR May: Bratislava 2012 Income Statement Debit

Credit

Account

Description

8001

Acquisition revenuee

1.300

8102

Contribution participants

7.185

8201

Subsidy faculty

1.250

8203

Subsidies and donations

Revenues

750

Total: Revenues

10.485

Expenses 4101

Transportation

6.983

4103

Business gifts

34

4106

Declarations committees

215

4201

Posters, flyers and banners

221

4210

Printing

576

4304

Catering

1.485

4305

Accommodation

3.116

4308

Additional activities

Total: Expenses

251 12.881

4420

Contribution ESR May

-2.396

Net income

0

European Study Research (ESR) May: Bratislava made a loss conform budget. A small extra contribution of the participants was asked to make to make a zero budget. The loss will be transferred to the EBF Board budget by means of the account 4420: Contribution International ESR May.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

88

International Symposium Income Statement Account

Description

8001

Acquisition revenuee

8201

Subsidy faculty

8203

Subsidies and donations

Debit

Credit

Revenues 250 2.771 230

Total: Revenues

3.251

Expenses 4101

Transportation

13

4103

Business gifts

361

4106

Declarations committees

184

4201

Posters, flyers and banners

187

4205

Promotional stunts

4210

Printing

451

4303

Socials and consumptions

877

4304

Catering

4306

Technical

Total: Expenses

15

1.100 63 3.251

4416

Contribution International Symposium

0

Net income

0

The International Symposium breaks even. This is because the subsidy of the faculty is the balancing account. Fewer expenses were made, therefore a lower subsidy was asked from the faculty to arrive at a zero result.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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MC Ambizzious Income Statement Debit

Credit

Account

Description

8001

Acquisition revenuee

500

8102

Contribution participants

300

Revenues

Total: Revenues

800

Expenses 4007

Webhosting

4103

Business Gifts

4303

Socials and consumptions

626

4304

Catering

400

Total: Expenses

25 23

1.074

4461

Contribution MC Ambizzious

-274

Net income

0

The Mastercommunity (MC) Ambizzious made a loss, which is a lower result than budgeted. The loss will be transferred to the EBF Board budget by means of the account 4461: Contribution MC Ambizzious.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

90

MC Aspire Income Statement Account

Description

Debit

Credit

Revenues Total: Revenues

0

Expenses 4103

Business Gifts

Total: Expenses

17 17

4433

Contribution MC Aspire

-17

Net income

0

The Mastercommunity (MC) Aspire made a loss. The loss will be transferred to the EBF Board budget by means of the account 4433: Contribution MC Aspire.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

91

MC Enterprise Income Statement Account

Description

8001

Acquisition revenuee

Debit

Credit

Revenues 500

Total: Revenues

500

Expenses 4103

Business Gifts

30

4106

Declarations committees

48

4303

Socials and consumptions

163

4304

Catering

230

4306

Technical

21

Total: Expenses

492

4434

Contribution MC Enterprise

8

Net income

0

The Mastercommunity (MC) Enterprise stayed within the budget and made a small profit. The profit will be transferred to the EBF Board budget by means of the account 4434: Contribution MC Enterprise.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

92

MC HRM Income Statement Account

Description

Debit

Credit

Revenues Total: Revenues

0

Expenses 4103

Business Gifts

21

4106

Declarations committees

67

4303

Socials and consumptions

Total: Expenses

290 378

4436

Contribution MC HRM

-378

Net income

0

The Mastercommunity (MC) Human Resource Management (HRM) made a loss, which is a lower result than was budgeted. The loss will be transferred to the EBF Board budget by means of the account 4436: Contribution MC HRM.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

93

MC IE&B Income Statement Account

Description

Debit

Credit

Revenues Total: Revenues

0

Expenses 4103

Business Gifts

Total: Expenses

17 17

4438

Contribution MC IE&B

-17

Net income

0

The Mastercommunity (MC) International Economics & Business (IE&B) made a loss. The loss will be transferred to the EBF Board budget by means of the account 4438 Contribution MC IE&B.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

94

MC Transition Income Statement Account

Description

Debit

Credit

Revenues Total: Revenues

0

Expenses 4103

Business Gifts

4303

Socials and consumptions

4304

Catering

Total: Expenses

35 241 56 333

4437

Contribution MC Transition

-333

Net income

0

The Mastercommunity (MC) Transition made a loss, which is a lower result than budgeted. The loss will be transferred to the EBF Board budget by means of the account 4437: Contribution MC Transition.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

95

Prospect Income Statement Account

Description

8001

Acquisition revenuee

8103

Contribution Alumni foundation

Debit

Credit

Revenues 18.860 5.000

Total: Revenues

23.860

Expenses 4002

Postage

4101

Transportation

4106

Declarations committees

4210

Printing

4308

Additional activities

Total: Expenses

5.883 102 60 26.092 50 32.187

4425

Contribution Prospect

-8.328

Net income

0

This year the Prospect changed from five to four editions per year. Therefore, costs were saved but this also resulted in less room for advertisements. In total, less acquisition was achieved than expected. Therefore the Prospect made a bigger loss than budgeted. The loss will be transferred to the EBF Board budget by means of the account 4425: Contribution Prospect.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

96

Recruitment Days Income Statement Account

Description

8001

Acquisition revenuee

8102

Contribution participants

Debit

Credit

Revenues 104.725 7.028

Total: Revenues

111.753

Expenses 4001

Telephone

4002

Postage

4003

Bank products

4004

Insurance

1.197

4007

Webhosting

2.498

4010

Office equipment

4012

Writing paper

95

4101

Transportation

913

4103

Business gifts

4106

Declarations committees

1.063

4201

Posters, flyers and banners

1.593

4202

Pens and gadgets

4205

Promotional stunts

4210

Printing activities

4213

Printing business cards

4303

Socials and consumptions

4304

Catering

30.170

4305

Accommodation

20.203

4306

Technical

1.222

4307

Artists

1.050

4308

Additional activities

220

4901

Uncollectible accounts

200

9001

Subsequent expenses

243

Total: Expenses 4426

240 64 106

249

833

555 400 7.734 117 1.429

72.392 Contribution Recruitment Days

39.360

Net income

0

The catering costs were higher than expected. However, because of many other cost savings the total result is higher than budgeted One third of the result was transferred to the MARUG and the remaining profit â‚Ź 26.240,29 will be transferred to the EBF Board budget by means of the account 4426: Contribution Recruitment Days.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Support Income Statement Account

Description

8402

Sales revenuee

Debit

Credit

Revenues 6.588

Total: Revenues

6.588

Expenses 4001

Telephone

4201

Posters, flyers and banners

4902

Cost of goods sold

Total: Expenses

193 55 4.026 4.273

4427

Contribution Support

2.314

Net income

0

The Support Committee made less profit than expected. This is because of a fall back in the amount of summaries that have been sold. The profit is transferred to the EBF Board budget by means of the account 4427: Contribution Support.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

98

Signed for agreement by the complete EBF Board 2011-2012 Eva Kool Chairman

Mariska Kapelle Vice-chairman

Sophie Paulides Promotion & Secretary

Martinus van der Wal Treasurer

Ewoud Helder Commercial Relations I

Francine Tol Internal Relations

Harmen Claassen Public Affairs & Commercial Relations II

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Policy EBF Board 2012-2013

Roderik Jongbloed Nicole Lodder Aaron van Gils Bas Boekema Niels Oskam Jerrel Sloote Merel Koppen

Chairman Vice-chairman & Secretary Treasurer Promotion & Website Commercial Relations Internal Relations Study Manager & Public Affairs

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

101

Introduction Groningen, 29th of August 2012 Dear members, We would like to present to you the policy of the EBF Candidate Board 2012-2013. In the last years, many steps have been taken and improvements within the association and its activities were implemented. We would like to continue this upward trend and we wish to contribute by focusing on a number of important points.

The points on which we will focus are separated into focus points and projects. Focus points are central to everything the EBF Board strives to accomplish throughout the years. Projects are specific goals which the EBF Board strives to achieve. One or two board members are responsible for those projects. Specific dates on which each projects should be completed have been set in order to make the projects measurable.

The EBF Board 2012-2013 wishes you good luck with reading our plans for the upcoming year.

Kind regards, On behalf of the EBF Board 2012-2013,

Roderik Jongbloed Chairman EBF Board 2012-2013

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Policy EBF Board 2012-2013 Focus points Positioning The EBF Board strives to position the EBF as a professional and sociable study association. To serve the target group in an optimal way, the EBF Board aims to strengthen the EBF Activity Portfolio and strives to increase the visibility of and positive association with the EBF. Therefore the EBF Board strives to: ● Strengthen the activity portfolio; Activities, Planning ● Improve the promotion of the association as a whole.

Visibility, Social Media Study Support The EBF Board strives to support the student in making studying easier. With regard to current educational developments and increased study pressure, the EBF Board strives to increase the support for EBF Members in the field of study. Aligning EBF Activities with the faculty is important both in content of the activity and in planning.

Therefore the EBF Board strives to: • Increase the support for EBF Members in the field of study; Booksales, Summaries, Tutoring, Effective study training ● Align EBF Activities with the Faculty.

Careers Weeks, Track choice activity EBF Network The EBF Board believes that having a strong network is essential for the communication and sharing of information between the EBF and her environment. A strong network can be beneficial for the EBF and her activities. Therefore, the EBF Board strives to strengthen the EBF Network.

The EBF Network can be specified into an internal network including all EBF Members and an external network including all other stakeholders of the EBF. Therefore the EBF Board strives to: ● Strengthen the internal network: increase mutual involvement between EBF Members; Committees, Mastercommunities ● Strengthen the external network: improve communication with other stakeholders.

Alumni, Advisory Councils, Speakers

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Projects Activity Portfolio After five years it is appropriate to revise the EBF Activities. The EBF Board strives to organise its activities in an optimal way and to possibly bridge gaps in the activity portfolio. Possibilities are to focus on first year students, entrepreneurship, small business or study supporting activities.

Therefore, the EBF Board aims to: ● Set up new activities which broaden the activity portfolio of the EBF before 1 September 2013.

Personal Development The EBF Board strives to increase membership value by offering opportunities for personal development. The EBF Board aims to stimulate EBF Members to develop themselves further in their personal competences and skills, which are useful for EBF Members’ future careers and for EBF Committee work.

Therefore, the EBF Board aims to: • Investigate new possibilities to facilitate personal development of EBF Members before 1 September 2013.

Information Systems The EBF Board strives to improve the usability of information systems within the EBF and to improve the information communicated to EBF Members. Furthermore, possibilities for new information systems will be investigated to increase efficiency.

Therefore the EBF Board aims to: ● Improve the means of communicating information on the EBF Website and by social media before 1 September 2013; ● Investigate the possibilities to set up systems that improve the efficiency of organising activities before 1 September 2013.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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General Policy Internationalisation The EBF strives for increased accessibility of the association for all its members, in the area of the four strategic pillars of the EBF. Also, the faculty aims to facilitate an accessible study environment for international students as well as Dutch students. Moreover, the EBF has strived to optimise the integration between all students. This year, the EBF Board strives to continue in making the association accessible for all its members.

Mastercommunities The EBF stimulated the development of Mastercommunities last year. Even though the number of Mastercommunities has increased from one to seven, the EBF Board will remain to focus on the communities. Improving the structure and intensified guidance will strengthen the current Mastercommunities. Also, the development of new Mastercommunities and contact with the Master coordinators will be stimulated.

Alumni The EBF attaches great importance to its alumni. The EBF currently serves the alumni in cooperation with the faculty. The activities are organised by the Economics and Business Alumni Foundation Groningen (aEB). The EBF will focus on increasing the attractiveness of being actively involved as an EBF Alumnus.

Furthermore, the EBF also aims to improve the policy regarding alumni and activities organised for EBF Alumni.

Sub-associations To serve the students of the Faculty of Economics and Business in an optimal way, the EBF has sub-associations, which focus on specific target groups. Alignment and communication between the associations is important to optimally serve the student. The EBF Board strives to foster internal and external communication with regard to the cooperation between and with her subassociations.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Signed for agreement by the complete EBF Board 2012-2013 Roderik Jongbloed Chairman

Nicole Lodder Vice-chairman & Secretary

Aaron van Gils Treasurer

Bas Boekema Promotion & Website

Niels Oskam Commercial Relations

Jerrel Sloote Internal Relations

Merel Koppen Study Manager & Public Affairs

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Financial Policy EBF Board 2012-2013

Roderik Jongbloed Nicole Lodder Aaron van Gils Bas Boekema Niels Oskam Jerrel Sloote Merel Koppen

Chairman Vice-chairman & Secretary Treasurer Promotion & Website Commercial Relations Internal Relations Study Manager & Public Affairs

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Introduction Groningen, 29th of August 2012 Dear Members, Hereby the EBF Board presents the budget for the financial year 2012-2013. Last year several cost saving measures were implemented. This development, combined with a reduced amount of depreciation and the replacement of the EBF Almanac and the EBF Beginning-of-the-year party by the EBF Lustrum, results in more available funds in the upcoming year.

The additional funds will be used for sustainable investments in the fields of the policy points Positioning, EBF Network and Study Support and our projects Activity Portfolio, Personal Development and Information Systems. Furthermore, some inventory will be replaced in order to maintain the quality of the flexible working places and the offices at the EBF Building.

Additionally, the EBF Board will investigate the possibilities to implement an online invoice system to increase the financial efficiency of the EBF. Moreover, the EBF Board strives to reach a higher degree of financial integration. We believe that an increase in the awareness and financial feeling of all board members results in highly supported and integrated decision-making.

Attached you can find the realisation of the year 2011-2012, the budget for the year 2012-2013 and the corresponding explanations.

Kind regards, On behalf of the EBF Board 2012-2013,

Aaron van Gils Treasurer EBF Board 2012-2013

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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EBF Board 2012 - 2013 Income Statement Account Revenues 8001 8101 8201 8401 9101 9102 9103 9104

Description Acquisition revenue Membership fees Subsidy faculty Written off accounts payable Subsequent revenue Incidental profit Interest revenues Released provisions

Total: Revenues Expenses 4001 Telephone 4002 Postage 4003 Bank products 4004 Insurance 4005 ICT 4006 Accounting software 4007 Webhosting 4008 Advisory and Services 4009 Subscriptions 4010 Office equipment 4012 Writing paper 4014 Depreciation Total Administrative expenses 4101 Transportation 4103 Business gifts 4104 Committee gifts 4105 Declarations board and committees 4108 Former-board day 4110 Board of Advice and Advisory Council 4111 General Members' Meeting Total Representation expenses

Realisation (31-07-2012)

Budget (01-08-2012)

97.546 27.538 5.623 2.922 2.376 3.242 2.990 37.963

100.000 26.500 5.623 0 0 0 2.500 50.000

180.200

184.623

2.390 2.727 1.166 1.976 3.702 881 2.172 8.274 1.695 999 1.463 11.363 38.808

2.400 2.700 1.200 1.800 4.000 800 1.400 4.900 1.100 1.200 1.300 8.000 30.800

1.432 879 1.952 8.435 2.480 423 4.395 19.996

1.800 1.400 1.900 9.600 3.000 2.000 5.000 24.700

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

110

4201

Posters, flyers and banners

2.391

4202 4203 4204

Pens and gadgets SMS Website adjustments

290 2.224 2.255

2.800 4.000 Positioning 1.500 1.900 1.000 3.000 Information Systems 2.800 17.000

4210 Printing Total Promotion expenses

3.480 10.640

4301 4302

Active members activities General members activities Freshmen Activity Study Support 4303 Socials and consumptions 4304 Catering 4305 Accommodation 4310 Leadership Panels Total Activity expenses

11.440 918

11.753 4.625 4.492 2.193 35.421

13.000 1.500 3.500 Activity Portfolio 4.000 Study Support 13.000 5.000 4.600 4.000 48.600

Total Committees

37.878

51.500

4801 Lustrum Total Additions to provisions

10.000 10.000

10.000 10.000

4901 Uncollectible accounts 9001 Subsequent expenses 9002 Incidental loss Total Other expenses

10.607 7.521 2.538 20.666

2.000 0 0 2.000

173.409

184.600

6.791

23

Total: Expenses Net income

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Revenues 8001

Acquisition revenue

8101

Membership fees

9103

Interest revenues

The acquisition revenue is based on results from previous years.

Last year’s extra inflow has no effect on the membership fees in the upcoming year. The amount of members seems to stabilise.

The currently lower interest rate results in less expected interest revenues.

Expenses Administrative expenses 4001 Telephone

4004

Insurance

4007

Webhosting

4008

Advisory and Services

4009

Subscriptions

4014

Depreciation

Representation expenses 4101 Transportation

The telephone costs decreased since the EBF switched to a cheaper provider. However, the switch made last year resulted in an incidental discount therefore the budget remains the same.

The lower insurance costs of this year are due the cancellation of the double board liability insurance.

Most of EBF’s domains are centralised now. This, together with double subscriptions last year, results in lower webhosting costs.

The budget is lower than last year because neither translation services nor Membership Value Cards are needed this year. However, the budget does contain room for an online invoice system.

This budget is lower because several subscriptions were double last year. This year those double subscriptions are cancelled.

Most of the depreciation, from products bought five years ago, is finished. Since some of the equipment is still of decent quality not all equipment has to be replaced. Therefore the budget is lower.

The board members are free to choose whether they want to use their card for public transport during the week or weekend. The budget leaves room for an increase in declarations.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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4110

Board of Advice and Advisory Council

4111

General Members’ Meeting

Promotion expenses 4202 Pens and gadgets

Project: Information Systems

Focus point: Positioning

The number of meetings has increased because of the new structure that will be implemented.

Therefore the budget has increased as well.

The budget is higher than last year due to a switch in the location of the first General Members’ Meeting.

Last year no gadgets were ordered besides the pens. This year the budget is higher to leave room for new gadgets.

This budget serves to improve the provision of information to students. It also contains room for the starting capital of a modern back-office programme.

This budget serves to fund the increase in promotional activities and a promotion video.

Activity expenses 4301 Active members’ activities

4302

4303

4310

The budget is increased to facilitate active members’ activities and trainings. It is based on a standard contribution per active member plus an additional reserve for spontaneous activities. The increase in active members results in a higher budget than last year.

General members’ activities This budget serves to facilitate trainings for general members. It is increased since a limited amount of trainings were provided last year and the EBF Board strives to increase these this year.

Socials and consumptions The same budgeting method as last year will be applied. This means that there will be a standardised budget per social, which will be based on the realisations of last year. The increase in budget is caused by some extra socials that will be set up.

Leadership Panels The EBF Board wants to integrate small socials with the Leadership Panels. This results in an increase of the budget. Another important factor is that four Leadership Panels, instead of three, will be organised this year.

Focus Point: Study Support This budget focuses on the creation of new possibilities to support students in the field of study. The establishing of a track-choice activity is also included.

Economics and Business student Faculty association Groningen 113 General Members’ Meeting, 10th of September 2012

Project: Activity Portfolio

Committees Committees

This budget serves to set up activities to fill the gaps in the activity portfolio of the EBF. In particular, attention will be paid to freshmen students.

The Lustrum provision will be used entirely, which increases this budget with € 50,000. The EBF Almanac and the EBF Beginning-of-the-year party will not be organised due to the overlapping activities of the EBF Lustrum. This results in costsavings.

Result Result

The EBF’s Goal is not to make a long-term profit or loss. Therefore the result is budgeted at zero.

Economics and Business student Faculty association Groningen General Members’ Meeting, 10th of September 2012

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Signed for agreement by the complete EBF Board 2012-2013 Roderik Jongbloed Chairman

Nicole Lodder Vice-chairman & Secretary

Aaron van Gils Treasurer

Bas Boekema Promotion & Website

Niels Oskam Commercial Relations

Jerrel Sloote Internal Relations

Merel Koppen Study Manager & Public Affairs

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List of translations Dutch – English Ledger accounts Income Statement Ledger

Description Dutch

Description English

Baten

Revenues

8001 8101

Totaal Sponsorinkomsten Opbrengst lidmaatschap

Acquisition revenue Membership fees

8102 8103

Bijdrage deelnemers Bijdrage Alumni stichting

Contribution participants Contribution Alumni foundation

8201 8202

Bijdrage Faculteit Bijdrage EBF Bestuur

Subsidy faculty Contribution EBF Board

8203

Subsidies/donaties

Subsidies and donations

8401 8402

Afgeschreven crediteuren Opbrengst verkopen

Written off accounts payable Sales revenue

9101 9102

Nagekomen baten Incidentele winst

Subsequent revenues Incidental profit

9103

Interestopbrengsten

Interest revenues

9104

Vrijval voorzieningen Totaal Baten

Released provisions Total Revenues

Lasten

Expenses

4001 4002

Telefonie Porto

Telephone Postage

4003

Bankproducten

Bank products

4004 4005

Verzekeringen ICT-kosten

Insurance ICT

4006 4007

Boekhoudsoftware Webhosting

Accounting software Webhosting

4008

Adviezen en diensten

Advisory and Services

4009 4010

Abonnementen Kantoorartikelen

Subscriptions Office equipment

4012 4013

Briefpapier Enveloppen

Writing paper Envelopes

4014 4020

Afschrijvingen Overige administratiekosten

Depreciation Other administrative expenses

Totaal Administratiekosten

Total Administrative expenses

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4101 4102

Vervoerskosten Verblijfskosten

Transportation Costs of residence

4103 4104

Relatiegeschenken Commissiebedankjes

Business gifts Committee gifts

4105

Declaraties bestuur en comissies

Declarations board and committees

4106 4108

Declaraties commissies Oud besturendag

Declarations committees Former-board Day

4110 4111

Raad van Advies en Verenigingsraad ALV kosten

Board of Advice and Advisory Council General Members’ Meeting

Totaal Representatiekosten

Total Representation expenses

4201

Posters, flyers en banners

Posters, flyers and banners

4202 4203

Pennen en gadgets SMS-kosten

Pens and gadgets SMS

4204 4205

Website aanpassingen PR-stunt

Website adjustments Promotional stunts

4210

Drukwerk activiteit

Printing

Totaal Promotiekosten

Total Promotion expenses

4301 4302

Actieve leden activiteiten Algemene leden activiteiten

Active members activities General members activities

4303

Borrels en consumpties

Socials and consumptions

4304 4305

Catering Accommodatie

Catering Accommodation

4306 4307

Techniek Artiesten

Technical Artists

4308 4310

Aanvullende activiteiten Leadership Panels

Additional activities Leadership Panels

Totaal Activiteiten

Total Activity expenses

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4412 4413

Bijdrage Agenda Bijdrage Almanak

Contribution Agenda Contribution Almanac

4415 4418

Bijdrage EBF Congres Bijdrage Consulting Event

Contribution EBF Conference Contribution Consulting Event

4421

Bijdrage ESR December

Contribution ESR December

4423 4431

Bijdrage Introductie Bijdrage Dutch Inhouse Tours

Contribution Introduction Camp Contribution Dutch Inhouse Tours

Totaal Commissies

Total Committees

Lustrum

Lustrum

Totaal Opbouwen voorzieningen

Total Addition to provisions

4901 4902

Afgeschreven debiteuren Inkoopwaarde verkopen

Uncollectible accounts Cost of goods sold

9001 9002

Nagekomen lasten Incidenteel verlies

Subsequent expenses Incidental loss

Totaal Diverse kosten

Total other expenses

4801

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Balance Sheet Ledger

Description Dutch

Description English

0001 0002

Computers Inventaris

Computers Office equipment and inventory

0003

ICT hardware Totaal Vaste activa

ICT hardware Total Fixed Assets

1001

Nog te ontvangen Dutch Inhouse Tours Debiteuren

Amounts receivable Dutch Inhouse Tours Accounts receivable

1021 1091

Rek. te vorderen BTW Nog te ontvangen bedragen

VAT receivable Amounts receivable

1092

Vooruitbetaalde bedragen

Prepaid amounts

7001

Voorraad briefpapier Totaal: Vlottende activa

Writing paper Total Current Assets

1042

Bank - Hoofdrekening

Bank – EBF Checking account

1043

Bank – Incasso

Bank – Direct debit account

1044 1045

Bank - Recruitment Days Bank - Rendementsrekening

Bank – Recruitment Days Bank – EBF Savings account

1047 1048

Bank - EBF Conference Bank- Dollar rekening

Bank – EBF Conference Bank – US Dollar account

Totaal Liquide middelen

Total Cash and Cash Equivalents

0021

Eigen vermogen

Equity

0022 0023

Saldo lopend boekjaar Saldo winst

Balance current financial year Retained earnings

Totaal: Eigen vermogen

Total Equity

0012

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0041 0042

Voorziening lustrum Voorziening nagekomen lasten

Provision lustrum Provision subsequent expenses

0043 0044

Voorziening algemeen beleid Voorziening commissies

Provision general policy Provision committees

Totaal Voorzieningen

Total Provisions

0051

Vooruitontvangen Lidmaatschapsgelden Nog te betalen bedragen MARUG

1011 1022

Crediteuren Rek. af te dragen BTW

Accounts payable VAT payable

1093 1094

Nog te betalen bedragen Vooruitontvangen bedragen

Amounts payable Amounts received in advance

1095

Rekening Courant Stichting IBR Totaal Vreemd vermogen

Current account EBF IBR Foundation Total Liabilities

2001 2002

Tussenrekening Niet toegewezen

Interim account Unassigned

2011

Kruisposten Totaal Kruisposten

Balancing entries Total Balancing entries

0031

Membership fees received in advance Amounts payable MARUG

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EBF Groningen Visitors’ address Nettelbosje 2 9747 AE Groningen Postal address Nettelbosje 2 9747 AE Groningen Telephone 050 363 7301 Website www.ebfgroningen.nl

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