Finance Committee

The Finance Committee is a Board committee established pursuant to Section 2.11 of By-Law No. 1.  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 appointed by the Board of Directors and at least two directors who have some knowledge or expertise in financial administration. The Chair may recommend the appointment of non-directors to the committee.

Chair:
Bill Yetman

Members:
Steve Boxma
Bettianne Hedges
Bill Johnston

Staff Participation:
Michael Beard, CEO
Joseph Richer, Registrar
Mike Prime, Vice President, Corporate Services (Interm)
Gloria Fougere, Director, Finance and Accounting
Sandra Gibney, Director, Strategic Initiatives & Stakeholder Relations
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

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