Canadian Institutes of Health Research – Standing Committee on Finance (SCF) – Terms of Reference

Reference: Section 10 (1) (a) of the Canadian Institutes of Health Research Act CIHR By-Law, Article 5, section 5.04

Mandate

The Standing Committee on Finance is a standing committee of Governing Council. The Standing Committee on Finance monitors and makes recommendations to Governing Council about matters related to finance. The Standing Committee on Finance promotes transparency and accountability in all financial planning strategies of CIHR and ensures that there is alignment between operational resources and the strategic direction set by Governing Council.

Roles and Responsibilities

The roles and responsibilities of the committee are as follows:

  • Ensure that CIHR has an effective planning process in place that provides appropriate alignment of financial resources with strategic directions;
  • Review and recommend to the Governing Council, CIHR’s annual budget;
  • Assess CIHR’s financial requirements on a continuous basis and recommend to the Governing Council, strategies and measures to increase CIHR’s overall level of resources; and
  • Review and recommend to the Governing Council major or strategic expenditures

Chair and Membership

The Standing Committee on Finance consists of a Chair, who is a member of Governing Council, plus a minimum of three other voting members of the Governing Council appointed by Governing Council after receiving advice from its Governance and Nominating Committee.

Membership on this committee may include persons who are not members of the Governing Council. The President is an ex-officio member.

Meetings

Meetings will be held at least 3 times annually at the call of the Chair, or by request of the President.

Quorum

A majority of its members (50% plus 1).

Reference

Bourinot’s Rule of Order, 4th Edition

Authority

CIHR By-Law - Article 5, section 5.04

The Standing Committee on Finance does not have decision-making authority, except for items specifically delegated to them by Governing Council.

The Standing Committee on Finance advises Governing Council and tables recommendations to Governing Council for decision.

Reporting

The Standing Committee on Finance will circulate the minutes of its meetings to Governing Council within two weeks of meeting or at the next Governing Council meeting, whichever is first.

Evaluation

On an annual basis, a review of its Terms of Reference and re-affirmation of membership.

Secretariat Support

The Standing Committee on Finance is supported by the CIHR Governance Secretariat. The Secretariat advises the committee Chair and members, prepares and distributes minutes, and enables timely follow-up of committee decisions and actions.

The Chief Financial Officer will be engaged in supporting the business of this Standing Committee.

Terms of Reference

Approved by Governing Council on November 20, 2019.

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