Islands Trust Conservancy Regular Meeting Addendum

Extracted text (beginning)

Islands Trust Conservancy Board
Addendum
 
Date:Tuesday, November 19, 2024
Time:10:00 am
Location:Electronic Meeting, and a physical location to view the livestream of the meeting:
Islands Trust Victoria Office
#200 - 1627 Fort Street
Victoria, BC V8R 1H8
Pages
6.
2 - 8
BUSINESS
6.1
 Items for Approval
6.1.7 2025/26 Budget Request
THAT the Islands Trust Conservancy Board request an increase of $7,582 to
its proposed 2025/26 Salaries and Benefits budget (Islands Trust 
Contribution) due to an error in its early submission relative to the amount
available from the Environment and Climate Change Canada Contribution 
Agreement for Salaries and Benefits in 2025/26.

Islands Trust Conservancy  Request For Decision Page 1 
 
 
 
REQUEST FOR DECISION 
 
 
To:   Islands Trust Conservancy 
Board 
 For the Meeting of: November 19, 2024 
     
From: Staff   Date Prepared: November 14, 2024 
     
SUBJECT: 2025/26 Budget Request 
 
 
RECOMMENDATION(S): That the Islands Trust Conservancy Board request an increase of $7,582 to its 
proposed 2025/26 Salaries and Benefits budget (Islands Trust Contribution) due to an error in its early 
submission relative to the amount available from the Environment and Climate Change Canada 
Contribution Agreement for Salaries and Benefits in 2025/26. 
  
 
1 PURPOSE:  
 
To correct an error in the 2025/26 budget request submission from the Islands Trust 
Conservancy (ITC) Board to Trust Council and update the ITC Board’s budget request for 
2025/26. 
 
2 BACKGROUND:  
 
At its July 23, 2024 meeting, the ITC Board resolved: 
that the Islands Trust Conservancy Board approve the draft 2025/26 ITC Budget, with the 
following amendment: 
 Increase the Board training and conferences line to $4,600 
and direct staff to provide it to the Director of Administrative Services and the Director of Trust 
Area Services for inclusion in the Islands Trust draft 2025/26 budget, as amended. 
At its October 1, 2024 meeting the ITC Board resolved: 
that the Islands Trust Conservancy Board direct staff to add $4,000 to the 2025-26 budget 
request for bookkeeping services, and add $1,160 per covenant to property management funds 
to reflect new covenants taken on in the 2024-25 fiscal year. 
 
The changes from the Board’s July and October meeting were made and, on behalf of the 
Board, ITC staff developed a briefing for the Financial Planning Committee’s (FPC) November 
13, 2024 meeting. A copy of the briefing is included in the ITC Board’s November 19, 2024 
meeting agenda (for information). During the FPC’s November 13
th
 meeting, additional 
information relating to the ITC Board’s budget submission was requested. A new briefing was 
prepared on November 14, 2024 in response to this request (ATT 1). 
 
In preparing the November 14
th
 briefing it came to light that an error had been made in the earlier 
budget request submission, which noted that the ECCC contribution for Salaries and Benefits in 
2025/26 was $110,000 and the Islands Trust cont

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