| Finance and Administration Committee: Terms of Reference |
ALGONQUIN COLLEGE
BOARD OF GOVERNORS
FINANCE AND ADMINISTRATION COMMITTEE: TERMS
OF REFERENCE
| FINANCE AND ADMINISTRATION COMMITTEE |
The Finance and Administration Committee is
a standing committee of the Board of Governors of Algonquin College. |
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| FUNCTION |
The mandate of the Finance and Administration Committee
is to advise the Board on the financial and administrative matters of the College, which
include, though are not necessarily limited to, the following: |
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1. Ensuring that the Board's objectives and policies
will contribute to the overall financial viability and effectiveness of the College by: |
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1.1 where appropriate, recommending to the Board additions and/or
modifications to College policy; |
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1.2 periodically reviewing and re-evaluating the tendering and
contracting policies of the College for the acquisition and management of physical plant
and properties. |
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2. Reviewing the College's proposed annual operating
budget, and further: |
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2.1 evaluating major additions to or modifications of existing
financial systems; |
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2.2 reviewing the College's quarterly and/or monthly financial
reports. |
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3. Examining, each month, staff complement, and
reviewing the College's strategies in Human Resource development as appropriate. |
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| TERM OF APPOINTMENT |
Each Finance and Administration Committee members shall
be appointed for a term of one year, and such term may be extended for one year at a time
while the Finance and Administration Committee member continues as a Governor of the
College |
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| CHAIR |
The chair shall be appointed by the Executive Committee
on the recommendation of the Nominating Committee. |
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| FREQUENCY OF MEETINGS |
The Finance and Administration Committee shall normally
meet on the third Monday of every month, from September to May. |
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| MEMBERSHIP |
Membership on the Finance and Administration Committee
shall be established by the Executive Committee of the Board after consulting with Board
members to determine their preference as to the standing committee of the Board on which
they wish to serve; such preference will be honoured to the degree possible. |
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| QUORUM |
A simple majority of the governors present on the
Finance and Administration Committee shall constitute a quorum |
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