PART 6 - Budget and finances
Budget and Finance Committee
21(1) The Executive Committee shall establish a Budget and Finance Committee consisting of the following members:
(a) the President;
(b) the Vice-President;
(c) the immediate past President;
(d) the Chair of the Civil Section;
(e) the Chair of the Criminal Section; and
(f) any other person appointed by the Executive Committee.
21(2) The Budget and Finance Committee shall select a Chair from amongst its members.
21(3) A person referred to in clause (1)(f) shall be appointed for a one-year term but may be re-appointed.
21(4) The duties of the Budget and Finance Committee include:
(a) providing advice in relation to the financial aspects of the Conference’s operations, including investments, endowment funds, and any foundations established by the Conference;
(b) preparing an investment policy for the Conference;
(c) monitoring and realizing on investments;
(d) reviewing the financial statements and reporting to the Conference;
(e) making recommendations to the Executive Committee in relation to annual assessments;
(f) preparing a budget for the activities of the Conference for the next fiscal year to be presented to the Executive Committee; and
(g) any other duties that the Executive Committee directs.
Annual Assessments
22(1) On the recommendation of the Budget and Finance Committee, the Executive Committee shall, in consultation with the jurisdictional representatives, determine and levy on each constituent jurisdiction the annual assessment required to enable the Conference to meet the financial obligations of carrying out its mandate.
22(2) Annual assessments may vary between constituent jurisdictions.
Fiscal year
23 The fiscal year of the Conference begins on April 1 in one year and ends on March 31 in the following year.
Budget
24(1) After the Executive Committee has reviewed the budget for the activities of the Conference for the next fiscal year prepared by the Budget and Finance Committee, the Executive Committee shall submit it to the
jurisdictional representatives for approval.
24(2) A jurisdictional representative has 30 days to submit any objections to the budget to the Executive Committee.
24(3) If the Executive Committee receives no objections to the budget in the 30-day period referred to in subsection (2), the budget shall be deemed to be approved.
Entity or segregated fund
25 On the recommendation of the Budget and Finance Committee, the Executive Committee may establish an entity or a segregated fund to support the activities of the Conference.