Policy 3.2.1 Board Approval of Projects and Transactions

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
ISLANDS TRUST CONSERVANCY 
BOARD POLICY 
 
 
 
 
Policy number: 3.2.1 
 
Title:  Board Approval of Projects and Transactions 
 
Approved By:  Islands Trust Conservancy Board  
    
     Date:  May 13, 2003 Resolution #:  TFB 03/574 
 
Revised     Date:  Jan. 23, 2014 Resolution #:  TFB-2014-003 
 
PURPOSE 
To describe the general process for the approval of proposed projects and programs by the Islands Trust 
Conservancy  Board,  and  to set  out  the  authority  for  approving financial  transactions relating  to 
approved projects. 
BACKGROUND 
The Islands  Trust  Act requires  the Islands  Trust  Conservancy  Board to  prepare  an  Islands Trust 
Conservancy Plan (‘trust fund plan’ under the act), at least once every 5 years, setting out its policies on 
acquisition, management and disposition of property, its policies on management of funds, its goals for 
major acquisitions of property, and other matters as required by the Minister. 
 
The Islands  Trust  Conservancy  Board also approves  a  Regional  Conservation  Plan,  which  identifies 
species  and ecosystems most  in  need  of  protection, and  sets  out  the  goals, objectives  and  activities  to 
assist the Board in identifying and conserving high priority properties. 
 
The Islands Trust Conservancy Plan and 5-Year Regional Conservation Plan provide  general direction to 
Islands Trust Conservancy staff regarding appropriate programs and projects.  In addition, Trust Council 
approves a Strategic Plan which prioritizes programs for funding through the Islands Trust annual budget 
cycle.  The  Board  reviews  and  provides  comments  on  the  Strategic  Plan each  year, and  considers the 
Strategic Plan when making requests for program funding from Trust Council. 
A: Policy – Land Conservation Projects (Covenants and Acquisitions) 
1. Staff will provide a report to the Board on each conservation covenant or land acquisition proposal 
received, for Board review   and   consideration as   per ITC Policy   2.2:   Assessing   Conservation 
Proposals. 
 

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
2. Before a project is approved by the Board, staff are authorized to invest only the time and resources 
necessary  to  undertake  the  initial  investigations  and  research  necessary  to  prepare  the  report 
referred to in section 1. 
 
3. Once Board approval is given to a conservation proposal, staff will undertake all necessary steps to 
complete the project in accordance with the approved proposal. 
 
4. Staff will keep the Board apprised of the project’s progress through updates at Board meetings. Staff 
will bring a report to the Board for discussion and direction if: 
 
• a significant issue or substantive change occurs during the implementation of the project; or, 
• staff  identify  that  implementation  of  the  project  will  require  significantly  more  resources  than 
anticipated. 
 
5. When a covenant  is complete, has 

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