Islands Trust Statement of Financial Information March 31, 2025

Extracted text (beginning)

STATEMENT OF FINANCIAL INFORMATION APPROVAL 
 
 
 
 
 
 
The undersigned represents the Trust Council of Islands Trust and approves all the statements 
and schedules included in this Statement of Financial Information, produced under the Financial 
Information Act. 
 
 
 
 
______________________ 
Laura Patrick 
Chair, Islands Trust Council 
 
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The Statement of Financial Information (“the Statement”) is prepared in accordance with the 
requirements of the Financial Information Act (“the Act”). The Statement is prepared by 
management, and the integrity and objectivity of these statements are management’s 
responsibility.  Management is also responsible for ensuring that this information is consistent, 
where appropriate, with the information contained in the annual audited financial statements. 
 
Management is responsible for implementing and maintaining a system of internal controls to 
provide reasonable assurance that reliable financial information is produced. 
 
The Islands Trust Council is responsible for ensuring that management fulfils its responsibilities 
for financial reporting and internal control and exercises this responsibility through the Audit 
Committee of Trust Council.  The Audit Committee meets with management and the external 
auditors two times a year. 
 
The external auditors, KPMG, conduct an independent examination, in accordance with 
generally accepted auditing standards, and express their opinion on the annual financial 
statements.  Their examination does not extend to the schedules contained in this Statement.  
Their examination includes a review and evaluation of organization’s system of internal control 
and appropriate tests and procedures to provide reasonable assurance that the annual financial 
statements are presented fairly.  The external auditors have full and free access to the Audit 
Committee of Trust Council when they meet each year. 
 
 
On behalf of Islands Trust, 
 
 
 
__________________________________ 
Director, Financial and Employee Services 
342

 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
  
 
 
 
On behalf of Islands Trust, 
 
 
 
__________________________________ 
Director, Financial and Employee Services 
 
SCHEDULE OF GUARANTEE AND INDEMNITY AGREEMENTS
Islands Trust has not given any guarantees or indemnities under the Guarantees and Indemnity
Regulation.
STATEMENT OF SEVERANCE AGREEMENTS
There
 were no severance agreements made between Islands Trust and its non-unionized 
employees during the year ending March 31, 2025.
Prepared under the Financial Information Regulation, Schedule 1,
 Subsection 6 (7).
343

SCHEDULE OF REMUNERATION & EXPENSES FOR TRUSTEES
For the year ended March 31, 2025
Prepared as required by Financial Information Regulation, Schedule 1, section 6
POSITION
TOTAL 
REMUNERATION & 
TAXABLE BENEFITS
EXPENSES
Allen,AlexanderTrustee14,126$                                 990$                                    
BernardoJoeTrustee14,273                                   1,2

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