Financial Planning Committee Meeting Minutes

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Financial Planning Committee 
Minutes of Meeting 
 
Date: 
Location: 
Wednesday, August 22, 2012 
Islands Trust Victoria Boardroom 
200-1627 Fort Street, Victoria, BC 
 
Members 
Present: 
Gary Steeves, Chair 
Peter Grove, Vice-Chair 
Paul Brent 
Peter Luckham 
Sheila Malcolmson 
David Graham 
Ken Hancock 
Louise Decario 
 
 
Members 
Absent: 
Jeanine Dodds - regrets 
Susan Morrison - regrets 
 
 
Staff Present: Cindy Shelest, Director Administrative Services 
Nancy Roggers, Finance Officer 
Linda Adams, Chief Administrative Officer 
David Marlor 
 
 
Others Present: Peter Grove on phone  
 
 
1.        CALL TO ORDER 
 
The meeting was called to order at 10:03 am 
 
Chair Steeves advised that we have a very full agenda and as indicated on the agenda 
the meeting will end at 3:00 pm 
 
2.        APPROVAL OF AGENDA 
 
Item 4.11 be moved up to 4.4 
 
By general consent the Committee approved the agenda as amended. 
 
 
 
 
 

 
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3.        MINUTES / COORDINATION 
 
3.1.      Minutes of Meeting - May 28, 2012 
 
By general consent the Financial Planning Committee adopted the minutes of 
May 28, 2012 as presented. 
 
3.2.      Follow up Action List 
 
Cindy Shelest provided an update on each of the items in the FUAL.  The 
Whistleblower Policy and Carbon Neutral policy have been moved to go forward 
to Trust Council in December, 2012.  Cindy Shelest will adjust the Follow up 
Action List to indicate the new target dates.     
 
4.        BUSINESS 
 
 
4.1.      RFD - June 30, 2012 Quarterly Financial Statements 
 
Cindy Shelest reviewed the Balance Sheet and Consolidated Statement of 
Revenue and Expenses for the first quarter results to June 30, 2012. 
 
Resolution FIN876/12 
It was MOVED and SECONDED 
That the Financial Planning Committee recommend approval of the June 30, 
2012 financial statements to Trust Council as presented. 
 
CARRIED 
 
4.2.      Statement of Financial Info - Trustee Remuneration and Expenses 
 
Cindy Shelest advised the Committee of Financial Information Act reporting 
requirements and reviewed the Statement of Financial Information for the Fiscal 
Period April 1, 2011 and March 31, 2012.  This document is presented so 
Trustees understand the information that is being shared with the public 
regarding their remuneration and expenses.   
 
The Financial Planning Committee requested that the remuneration and 
expense list indicate there are trustees from two different terms on this list. 
 
By general consent the Financial Planning Committee forwards the Statement of 
Financial Information schedule for Trustee remuneration and expenses to Trust 
Council. 
 
 
 
 

 
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4.3.      Financial Planning Committee Report to Trust Council 
 
Cindy Shelest reviewed the Financial Planning Committee Report to Trust 
Council.   
 
Chair Steeves noted that public accountability is not on our work program and 
perhaps it should be.  Trustee Malcolmson requested that discussion of the 
Financial Planning Committee r

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