Policy 3.1.6 Annual Budget Submissions

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
ISLANDS TRUST CONSERVANCY 
BOARD POLICY 
 
 
 
 
Policy Number: 3.1.6 
 
Title:  Annual Budget Submissions Policy 
 
Approved By:  Islands Trust Conservancy Board                                    
    
                                     Date:  November 19, 2002         Resolution #:  TFB 02/513 
 
PURPOSE 
To  establish  the  general  process  by  which Islands  Trust  Conservancy annual  budget  requests 
will be prepared and submitted to Trust Council for approval. 
BACKGROUND 
The Islands  Trust  Act requires  that  Trust  Council  approve a  budget to  cover  the  administrative 
operations of the Islands Trust Conservancy Board. 
Policy 
1. The Islands   Trust   Conservancy Manager   will   prepare   a   proposed   budget   for   the 
administrative  operations  of  the Islands  Trust  Conservancy  Board and  its  related  staff  and 
programs for Board approval.  Normally, the proposed budget will be reviewed at a meeting 
held in  the  fall  of  the  year,  or  as  required  to  meet  the  Islands  Trust  budget  process 
timeframes. 
 
2. The  Board  may  invite  the  Chairperson  of  the  Financial  Planning  Committee  and/or  the 
Chairperson of Trust Council to any meetings where the proposed budget will be discussed.   
 
3. The  Board  may  make  modifications  to  the  proposed  budget  before  approving  it  for 
submission. 
 
4. The  Board  approved  budget  will  be  provided  to  the  Director  responsible  for  the Islands 
Trust   Conservancy   Board and  the  Director   of   Administrative   Services,   with   adequate 

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explanation  of  the  reasons  for  any  proposed  changes  or  new  programs,  by  the  date 
required by the Director of Administrative Services. 
 
5. The Board understands the Islands Trust budget process is as follows: 
 
• The  Director  of  Administrative  Services  compiles  all  budget  submissions  from  each 
Islands Trust Unit and legislated entity and prepares an initial budget proposal (one for 
base or core items and one for new or special programs).  This proposal is circulated to 
the Islands Trust Management Team (Management) for consideration. 
• Management  discusses  the  proposed  budget  and  the  Director  responsible  for  the 
Islands  Trust  Conservancy  Board makes  representation  regarding  the  requirements  of 
the Board (as do other Directors for their area of responsibility). 
• Management  makes  a  recommendation  to  Trust  Council’s  Financial  Planning 
Committee, which may be the initial budget proposal or some variation thereof. 
• The  Chairperson  of  the Islands  Trust  Conservancy  Board may  make  representation  to 
the Financial Planning Committee regarding its budget request. 
• The Financial Planning Committee makes reco

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