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About the MPHEC

PRESENTATIONS & PUBLICATIONS

MPHEC Finance Committee

Terms of Reference

Purpose

1. To advise and assist the Maritime Provinces Higher Education Commission (herein after “MPHEC” or “Commission”) in reviewing, evaluating options, and recommending an appropriate course(s) of action, in areas having financial implications for the Commission.

Functions

2. To that end, the Finance Committee shall:

• Review and recommend for approval the MPHEC’s operating budget and related documentation.
• Review and recommend for approval the MPHEC’s business plan and related documentation.
• Meet annually with the auditors to review and approve the audit plan document, prior to the audit, and discuss the Commission’s expectations and concerns, if any, for the upcoming audit.
• Meet with the auditors, without management representatives present, at the end of the auditing process to review the results of the annual examination and to learn of any findings that should be brought to the attention of the Committee.
• Assist in the development and the review of financial policies and procedures of existing or new initiatives.
• Assist in the development and review of human resource policies, excluding the performance management of the Chief Executive Officer.
• Suggest relevant research/publications that relate to financial matters to the Commission, and assist in their preparation.

Membership

3. The Committee is composed of a maximum of eight members including the Chair. There are at least two members from each province, normally one from the government sector and one from either the institutional sector or the public at large.

4. Each member is appointed for a three-year term, normally renewable only once.

5. All members are Commission members; the Chief Executive Officer is a non-voting member of the Committee.

6. Members are appointed by the Chair of the Commission.

Committee Chair

7. The Chair of the Commission is the Chair of the Finance Committee.

Quorum

8. A majority of the Finance Committee membership represents quorum, provided that it includes at least one government representative from each of the three Provinces.

9. Alternates can be designated for government representatives, providing the person is a Commission member and government representative.

Governance and Operating Framework

10. On appointment to the Commission, members sign an Oath of Office declaring that they have read and understand the Commission’s Governance and Operating Framework document, including Member’s Code of Conduct, the Policy on Confidentiality (including the Standards for Maintaining Confidentiality) and the Policy on Conflict of Interest. Generally, the same principles, policies and practices that apply to the Commission as a Board apply to the workings of its Committees.

11. The Committee has the authority to engage outside consultants as required to assist in its functions.

(Revised and Approved: April 26, 2017)

Members:

Nicole Bellefleur, Prince Edward Island
France Haché, New Brunswick
Petra Hauf, New Brunswick
Greg Naterer (Chair), Prince Edward Island
Catherine Stewart, MPHEC (non-voting)
Cheryl To, Nova Scotia
Martin Zelenietz, Nova Scotia