The purpose of the Committee is to assist the Board in fulfilling its governance responsibilities with respect to financial planning, funding/revenue strategies, approval of budgets, financial monitoring and financial policies.
Chair and Membership
The Finance Committee consists of a Chair and at least two other directors who have some knowledge or expertise in financial administration. Members of the Finance Committee cannot serve on the Audit & Risk Committee. This Committee normally has at least 4 members. The Committee may recommend the appointment of non-directors to the Committee.
Jody Lavoie, Ex-officio
Michael Beard, CEO
Logan Atkinson, General Counsel & Corporate Secretary
Mike Prime, Vice President, Corporate Services (Interm)
Gloria Fougere, Director, Finance and Accounting
Tim Bates, Manager, Accounting
Andria Cordovez Mulet, Manager, Board Operations
Duties, Functions & Responsibilities
- To develop and recommend an annual operating budget, as well as a 3-year budget required under the Administrative Agreement, such that financial resources are allocated in a manner consistent with the strategic plan, goals and priorities
- To monitor and provide information to the Board on significant financial and planning issues, interim financial reports, adjustments to budgets, the status of investments and adherence to established financial policies
- To monitor the status of funding and make recommendations to the Board related to long-term funding/revenue strategies and requirements, including the establishment and use of reserves and/or restricted funds to ensure the financial sustainability of the organization
- To make recommendations to the Board related to the financial policies of RECO
- Other matters delegated by the Board