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 23, 2013
- February 13, 2013
- May 27, 2013
- August 21, 2013
- October 30, 2013
- November 13, 2013
Audit Committee Dates:
- February 13, 2013
- May 27, 2013
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.
2013
2012
2011
2010
2009
2008
2007
Roles and Responsibility
Annual Budget Process
To facilitate Council's involvement in the annual budget process by:
- providing direction to all program units, via management, in overseeing the process of budget preparation.
- assisting Council in establishing the principles and assumptions for the development of the budget.
- reviewing the base operating needs and all program requests against the principles and assumptions and make recommendations to Council.
- 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:
- 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.
- direction to management in the development of long range financial planning and capital budgeting.
- 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:
- a regular financial reporting system.
- development of financial management policies and procedures.
- assessing/monitoring revenue generating and expenditure control practices, management recommendations for financial resource allocations within and during the annual budget.
- 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:
- reviewing audit reports.
- reviewing with management the management letter recommendations and deciding on actions required.
- monitoring the implementation of the auditor's recommendations.
- recommending an accounting firm to Trust Council, each year, to conduct the annual audit.
- 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
Members
Executive Committee Representative
Support Staff
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Director, Administrative Services
(250) 405-5150 |
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Finance Officer
(250) 405-5154 |
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