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Finance Committee
The Board of Governors By-Law No. 1, section 15, sub-section 3 (d) states:
The Finance Committee shall be composed of not fewer than six members of the Board in addition to the Chair and the Vice-Chair(s) of the Board, the President, the Provost, and Vice-Presidents as ex officio members. One-half of the membership of the Committee, excluding the President and Vice-Presidents, shall constitute quorum.
The responsibility of the Committee shall be to exercise general supervision over the financial affairs of the University and to keep the Board informed thereon. It shall review, at least once a quarter, interim financial statements in comparison with budgets, and shall review preliminary and final annual budgets and make recommendations thereon to the Board.
The Committee shall review plans for capital expenditure and ensure that commitments for capital expenditures are within the resources of the University.
The Committee shall be concerned with the establishment of adequate financial controls to ensure the implementation of the policies and decisions adopted by the Board, including budgetary matters.
The Committee shall assume responsibility for investment policy and may delegate such responsibilities as it sees fit to the University Administration in the implementation of the established policies.
The Finance Committee consists of not fewer than six members of the Board of Governors. The Finance Committee consists of the following members for July 1, 2011 to June 30, 2012:
Members:
D. Lazzarato (Dave) Member Chair P. Douglas (Paul) Member Vice-Chair L. Mashkoor (Layla) Member B. Bidulka (Brian) Member S. Birnie (Susan) Member S. Denburg (Susan) Member M. Iarocci (Melanie) Member G. Kain (Gary) Member B. McCarry (Brian) Member D. Pether (Don) Member J. Pike (Jagoda) Member C. Stefankiewicz (Connie) Member R. Buckingham (Richard) Ex Officio Chair of the Board D. Lazzarato (Dave) Ex Officio Vice-Chair of the Board P. Deane (Patrick) Ex Officio President I. Busch-Vishniac (Ilene) Ex Officio Provost J. Kelton (John) Ex Officio Dean & Vice-President (Health Sciences) M. Elbestawi (Mo) Ex Officio Vice-President (Research & International Affairs) R. Couldrey (Roger) Ex Officio Vice-President (Administration) M. Williams (Mary) Ex Officio Vice-President (University Advancement) D. Henne (Deidre) Consultant Assistant Vice-President (Administration) and CFO R. Cooper (Rob) Observer Chief Risk Officer B. Campbell (Barbara) Observer Executive Director, Office of the Provost
Investment Pool Committee
Terms of Reference
The Board of Governors By-Law No. 1, section 15, sub-section 3 (d) states:
The Investment Pool Committee shall be a subcommittee of the Finance Committee and shall consist of not fewer than six members, as follows: at least two current members of the Board, appointed by the Board, one of whom shall be a member of the Finance Committee and who shall be designated Chair; two members with investment expertise appointed by the Finance Committee; the Assistant Vice-President (Administration), and the Treasurer. The President and Vice-President (Administration) shall be ex officio members, but shall have no vote.
Four members of the Committee shall constitute a quorum.
Appointments shall become effective on July 1 and members shall hold office for a period of one year. Members shall be eligible for re-appointment.
The overall objective of the Investment Pool Committee is to bring advice and knowledge to the effective management of the investments included in the University’s Investment Pool, consistent with the approved fund objectives.
Within this context, the Committee shall:
1. review investment policies, objectives, strategies and make recommendations to the Finance Committee;
2. make recommendations to the Finance Committee concerning the engagement and termination of investment managers and consultants;
3. review and approve mandates and investment objectives given to individual investment managers;
4. meet quarterly to monitor investment performance of the total Fund and of individual managers;
5. meet regularly with external investment managers;
6. monitor operating expenses such as fees paid to external fund managers, consultants, fund measurement services and custodians;
7. monitor rebalancing of funds among the investment managers and exposure to non-Canadian currencies; and
8. provide semi-annual performances reports to the Finance Committee.
Membership
The Investment Pool Committee shall be a subcommittee of the Finance Committee and shall consist of not fewer than six members. The Investment Pool Committee consists of the following members for July 1, 2011 to June 30, 2012:
G. Kain (Gary Member Chair, Board Member Q. Broad (Quentin) Member Board Member L. Grendon (Linda) Member Appointed by the Finance Committee J. Wellum (Jonathan) Member Appointed by the Finance Committee D. Henne (Deidre) Member Assistant Vice-President (Administration) and CFO E. Del Maestro (Enrico) Member Treasurer P. Deane (Patrick) Ex Officio President R. Couldrey (Roger) Ex Officio Vice-President (Administration)