Financial Planning Committee Regular Meeting Agenda

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Financial Planning Committee
Agenda
 
Date:Wednesday, May 29, 2024
Time:10:30 am - 3:00 pm
Location:Electronic Zoom Meeting
Pages
1.  CALL TO ORDER
2.  AGENDA
2.1  Review of the Agenda
Committee to consider late items, new items and re-ordering of the agenda plus
consider any need to create an in camera meeting
2.2  Approval of Agenda
3.  PUBLIC COMMENT PERIOD
4.  DELEGATIONS
None.
5.  CORRESPONDENCE
None.
6.  ADMINISTRATIVE COORDINATION
6.1  Draft Minutes of Previous Meetings
6.1.1  Financial Planning Committee Regular Meeting Minutes of February 21,
2024
4 - 10
For review and approval
6.2  Resolutions Without Meeting
None.
6.3  Follow up Action List
11 - 14
For review
7.  BUSINESS - WORK PROGRAM ITEMS

7.1  March 31, 2024 Audited Financial Statements - Briefing
Late item: The audited financial statements and the audit report are to be received for
information from Audit Committee upon adjournment of their meeting on May 29,
2024.
7.2  March 31, 2024 Financial Results - Request For Decision
15 - 26
That Financial Planning Committee forward the March 31, 2024 Financial Results to
Trust Council for information.
7.3  March 31, 2024 Allocated Financial Statements - Briefing
27 - 30
Receive for information.
Forward to Trust Council if desired.
7.4  2025/26 Budget Cycle Timelines - Briefing
31 - 33
7.5  2025/26 Budget Guidelines - Request For Decision
34 - 35
Whereas, under s.14 of the 
Islands Trust Act, Trust Council holds authority for
approval of the fiscal budget;
Whereas in accordance with Trust Council’s Council Committee System and Terms of
Reference policy, Financial Planning Committee is responsible for facilitating Council’s
involvement in the annual budget process;
Whereas, in accordance with Trust Council’s Budget Process policy, Financial Planning
Committee will begin review of the draft 2025/26 budget in October 2024; therefore
be it resolved:
That Financial Planning Committee recommend to Trust Council that it set budget
guidelines for the 2025/26 budget cycle no later than September 2024.
8.  BUSINESS - OTHER
8.1  Annual Report: Financial Planning Committee Section - Request For Decision
36 - 39
That Financial Planning Committee approve the attached text for inclusion in the
2023/24 Annual Report for approval by Trust Council and submission to the Minister
of Municipal Affairs.
8.2  Trust Council Policy 7.2.1 Trustee Remuneration - Transfer to Governance Committee -
Request For Decision
40 - 97
That Financial Planning Committee transfer its work on Policy 7.2.1 
Trustee
Remuneration to Governance Committee, as requested by Governance Committee.
9.  BUSINESS - NEW
10.  WORK PROGRAM - Request For Decision
98 - 100
For review and referral to Trust Council before each quarterly TC meeting
That Financial Planning Committee approve the proposed Work Program report [as presented
or as amended], and forward it to Trust Council for approval.
2

11.  NEXT MEETING
Wednesday, August 28, 2024 from 10:00 a.m. to 3:00 p.m.
12.  CLOSED MEETING
If des

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