Financial Planning Committee

Committee membership includes trustees appointed by the Chair of Trust Council. The Financial Planning Committee is comprised of all members of the Executive Committee, the Chair (or designate) of other Council Committees and three (3) other trustees.

The Chair of Trust Council is an ex-office member of the Trust Programs Committee, and Local Planning Committee.

Committee members elect a Committee Chair and Vice-Chair as required.

The Chair of Trust Council may appoint an interim Council Committee Chair if required.

Meeting Schedule

All committee meetings will be held at the following location, beginning at 10 a.m. unless otherwise indicated: Islands Trust Office, 200 - 1627 Fort Street, Victoria BC V8R 1H8

Financial Planning Committee Dates:

• January 27, 2010
• February 24, 2010
• March 1, 2010, 3:30 - 4:30pm
• June 1, 2010
• August 31, 2010
• November 3, 2010

Audit Committee Dates:

• February 24, 2010
• June 1, 2010

Meeting Minutes

Only adopted minutes are posted to the site. Committee business meetings are normally held four times per calendar year, and additional meetings may also be held.

2010

• Audited Financial Statements for the year ended March 31, 2010
• January 27, 2010
• February 24, 2010
• March 1, 2010

2009

• Audited Financial Statements for the year ended March 31, 2009
• January 21, 2009
• February 18, 2009
• March 10, 2009
• Approved Budget for fiscal 2009/10
• May 27, 2009
• August 25, 2009
• November 12, 2009
• November 18, 2009

2008

• Audited Financial Statements - March 31, 2008
• January 30, 2008
• February 26, 2008 (Audit)
• February 26, 2008
• June 3, 2008
• June 3, 2008 (Audit)
• August 25, 2008
• November 5, 2008

2007

• Audited Financial Statements - March 31, 2007
• January 29, 2007
• February 14, 2007
• March 9, 2007
• May 29, 2007
• June 13, 2007
• August 28, 2007
• November 6, 2007
• November 23, 2007

Roles and Responsibility

Annual Budget Process

To facilitate Council's involvement in the annual budget process by:

1. providing direction to all program units, via management, in overseeing the process of budget preparation.
2. assisting Council in establishing the principles and assumptions for the development of the budget.
3. reviewing the base operating needs and all program requests against the principles and assumptions and make recommendations to Council.
4. representing the interests of Council, Executive Committee, and Council Committees throughout the budget process.
   

Budget and Financial Planning

To facilitate the linkage of the annual strategic planning process with the annual budget process through:

1. the interpretation of Council's priorities/strategies and related work programs into resource allocation requirements both for the annual budget and for long range planning practices.
2. direction to management in the development of long range financial planning and capital budgeting.
3. facilitating Council's involvement in the preparation of a three year operational and capital budget plan.

Financial Management

To report to and make recommendations to Council regarding the organization's financial management practices such as:

1. a regular financial reporting system.
2. development of financial management policies and procedures.
3. assessing/monitoring revenue generating and expenditure control practices, management recommendations for financial resource allocations within and during the annual budget.
4. review financial reporting documents for the Ministry/Treasury Board and/or public presentation via the Executive Committee.
   

Annual Audit

The Finance Committee will appoint from amongst its members, but excluding members of the Executive Committee, an Annual Audit Committee for the purposes of the annual audit and will report directly to Council by:

1. reviewing audit reports.
2. reviewing with management the management letter recommendations and deciding on actions required.
3. monitoring the implementation of the auditor's recommendations.
4. recommending an accounting firm to Trust Council, each year, to conduct the annual audit.
5. reviewing with the auditors the year end audit (and interim audit) work program.
   

Trust Fund Board Support

To provide advice to the Trust Fund Board on financial services and support available from the Islands Trust.

To monitor and review the Trust's financial management, budget and financial planning practices and to assess management's recommendations to Trust Council in these areas, through consultation with the Trust's auditors as required.

Committee Membership

Chair

Bowen Island Municipal Trustee Phone: (604) 947-9875 Mailing Address: 981 Artisan Lane Bowen Island, BC V0N 1G0 Bowen Island Municipality Website

Members

Gambier Island Trustee Phone: (604) 886-2763 Mailing Address: Islands Trust 700 North Rd Gabriola Island, BC V0R 1X3 Main: (250) 247-2063 Fax: (250) 247-7514

Denman Island Trustee Phone: (250) 335-3033 Mailing Address: Islands Trust 700 North Rd Gabriola Island, BC V0R 1X3 Main: (250) 247-2063 Fax: (250) 247-7514

Thetis Island Trustee Phone: (250) 416-0373 Mailing Address: Islands Trust 700 North Rd Gabriola Island, BC V0R 1X3 Main: (250) 247-2063 Fax: (250) 247-7514

Salt Spring Island Trustee Phone: (250) 538-0199 Mailing Address: Islands Trust 1-500 Lower Ganges Rd Salt Spring Island, BC V8K 2N8 Main: (250) 537-9144 Fax: (250) 537-9116

Executive Committee Representative

Gabriola Island Trustee Phone: (250) 247-8078 Mailing Address: Islands Trust 700 North Rd Gabriola Island, BC V0R 1X3 Main: (250) 247-2063 Fax: (250) 247-7514

North Pender Island Trustee Phone: (250) 629-3595 Mailing Address: Islands Trust 200 - 1627 Fort St Victoria, BC V8R 1H8 Main: (250) 405-5151 Fax: (250) 405-5155

Denman Island Trustee Phone: (250) 335-2113 Mailing Address: Islands Trust 700 North Rd Gabriola Island, BC V0R 1X3 Main: (250) 247-2063 Fax: (250) 247-7514

Thetis Island Trustee Phone: (250) 246-4802 Mailing Address: Islands Trust 700 North Rd Gabriola Island, BC V0R 1X3 Main: (250) 247-2063 Fax: (250) 247-7514

Support Staff