BOARD OF GOVERNORS OPEN SESSION MEETING
THURSDAY, JUNE 4, 2015 1:00 - 4:00 P.M. University Centre, Boardroom 424
AGENDA
Page
Board Meeting Information 3-12 Board of Governors Membership 13 Meeting Attendance 1. Pre-meeting Presentation 15-18 a) Macdonald Hall Renovations - College of Business and Economics 2. Welcome and Approval of Agenda a) Welcome and Introductory Remarks from the Chair b) Approval of the Open Session Agenda and Consent Items for June 4, 2015 [Motion] 3. Approval of Minutes 19-22 a) Approval of the Open Session Minutes for April 16, 2015 [Motion - CONSENT] 23-32 b) Approval of the Special Meeting Minutes for April 26, 2015 [Motion - CONSENT] 33-48 c) Business Arising 4. President's Report 49 a) Status Report on University Activities b) Annual Report - Senate Committee on Quality Assurance 51-53 c) Faculty Appointments, Tenure and Promotions 5. Pensions Committee Report 55-56 a) Report from Committee Chair 57-62 b) Proposed Text Amendments to Pension Plans Arising from Collective Agreements (CUPE 1334, CUPE 1334 Unit1, CUPE 3913 Unit 2, Exempt Group, P&M, USW) [Motion - CONSENT] 63-91 c) Annual Review of Statement of Investment Policies and Procedures (SIP&P) [Motion - CONSENT] 6. Physical Resources & Property Committee Report 93-94 a) Report from the Committee Chair 95 b) Revised OVC Master Plan Re-development [Motion]
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BOARD OF GOVERNORS OPEN SESSION MEETING Page
6. Physical Resources & Property Committee Report 97-131 c) Update on Capital Projects and Land Transactions 7. Finance Committee Report 133-135 a) Report from the Committee Chair 137-152 b) Proposed University of Guelph - OMAF & RA 2015-16 Preliminary Budget [Motion] 153-155 c) Recommendations on Capital Projects and Land Transactions [Motions] 157-167 d) Endowment Investment Policy - Annual Review [Motion - CONSENT] 8. Audit Committee Report 169-170 a) Report from Committee Chair 171-204 b) Audited Financial Statements - University of Guelph-Humber as of March 31, 2015 [Motion] 205 c) Enterprise Risk Management Update and 2015 Annual Report 9. Governance Committee Report 207-208 a) Report from Committee Chair 209-223 b) BOT Terms of Reference: Proposed Amendments and Repeal of Bylaws [Motion] 225-236 c) Proposed Amendments to Student Organization Policy [Motion] 237-248 d) Proposed Amendments to Non-Academic Misconduct Policy [Motion] 249-260 e) Update to Signing Authority Registry [Motion - CONSENT] 261-262 f) Art Gallery of Guelph Board of Trustees: University Appointees [Motion - CONSENT] 263-264 g) Internal Governor Appointments: 2015-16 [Motions - CONSENT] 265-269 h) Proposed Amendments to Terms of Reference: Audit and Governance Committees [Motion - CONSENT] 10. Other Business 11. Move to Closed Session 271 a) Move to Closed Session Adjourment
Page 2 of 271 Membership Board of Governors 2014-15 GOVERNORS OF THE UNIVERSITY OF GUELPH (Listed in Alphabetical Order by Surname and Category of Governance Volunteer) as of November 2014
2014-15 GOVERNORS
BOARD CHAIR Dick Freeborough FCA, ICD.D Corporate Director TRUSTEE (ex officio) Term: 2005-2015
INVESTMENT Mr. Freeborough is a corporate director, serving as Chair of the Independent Order of Foresters and Director SUBCOMMITTEE MEMBER and audit committee chair of RGA Life Reinsurance Company of Canada and Economical Mutual Insurance (ex officio) Company. Former board activity includes ACE INA Insurance, Triad Guaranty, and KPMG where he was Deputy Chair. Prior to September 30, 2004, he was a partner of KPMG and leader of the Firm's insurance practice. He was with KPMG for 40 years in Montreal and Toronto. Volunteer activity has included Chair of the Board of the Oakville Hospital Foundation, Chair of the Board of Tafelmusik Baroque Orchestra and Treasurer and director of the Mississauga Golf and Country Club. He continues as a volunteer with the Oakville Trafalgar Memorial Hospital.
Mr. Freeborough also provides advisory services on governance, financial matters and management.
Graham Badun CHAIR, PRPC 1 Independent Consultant Term: 2012-2015 MEMBER, AUDIT COMMITEE Graham is currently an independent consultant. He left Brookfield Residential Property Services at the end of 2012 where he served as the CEO for a number of years. That company was immersed in the residential real estate business operating multiple brands in 9 countries. Graham joined the Brookfield group of companies in 1998. Prior to joining Brookfield, Graham worked for several years in the Canadian mortgage industry and also spent three years as a Management Consultant with a major international consulting firm. Graham holds a B.A. from Queen’s University and is an MBA graduate from the University of Western Ontario’s Richard Ivey School of Business.
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1 PRPC = Physical Resources and Property Committee
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Nancy Brown Andison MEMBER, AUDIT Executive IBM Canada COMMITTEE Term: 2014-2017
Nancy Brown Andison is a retired Partner of PricewaterhouseCoopers and Executive of IBM Canada. A UofG ALUMNA graduate of the University of Guelph (BScAgr) and Queen’s University (MBA) Nancy is also a graduate of the Chartered Directors Program at DeGroote School of Business, McMaster (C.Dir). Nancy’s career has been focused on consultinig and project implementation services to the public sector in Ontario and Canada and has included: public policy, business strategy and transformation, finance, human resources and information technology. Nancy has led some of the largest system implementations in government in Canada. She has served on a number of profit and not for profit Boards. Nancy is pleased to have the opportunity to focus her attention toward guiding the future success of the University of Guelph.
Shauneen Bruder BOARD VICE-CHAIR Executive VP Operations, Canadian Banking, RBC Financial Group Term: 2012-2015 CHAIR, FINANCE COMMITTE In her role as Executive Vice President of Operations, Royal Bank of Canada, Shauneen oversees operations related to all personal and business clients in Canada. In addition, she is a member of the Group MEMBER, GOVERNANCE Operating Committee charged with oversight of day-to-day management of RBC globally. Shauneen joined COMMITTEE RBC in 1984, and has held a variety of roles, including EVP of Business and Commercial Banking, Chief Operating Officer of the Global Wealth Management division and President of RBC Centura Banks UofG ALUMNA headquartered in North Carolina. A certified director (ICD.D), she is a director of various RBC subsidiaries and also serves on a number of not-for-profit organizations, including the Shaw Festival and Pine River Institute. Shauneen has served as Chair of the both the Canadian Chamber of Commerce and the Canadian American Business Council. She serves as Honorary Consul for Luxembourg in Toronto, and is the Chair of the Ontario Chapter of the Institute of Corporate Directors. She has been recognized by the Women's Executive Network as one of Canada's Top 100 Most Powerful Women. Shauneen holds a BA from the University of Guelph (1980) and was Gold Medalist of the Queen's University MBA class of 1984. Shauneen and her husband Michael, also a Guelph alum, have three children.
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Mary Anne Chambers MEMBER, AUDIT COMMITTEE Retired Senior Vice-President at Scotia Bank & PRPC Term: 2010-2016
Mary Anne Chambers is a retired Senior Vice-President of Scotiabank, and a former Minister of Training Colleges and Universities and former Minister of Children and Youth Services for the province of Ontario. Mary Anne has served on the Board of the United Way of Greater Toronto and is a past Chair of the Board of the United Way of Canada. She has also served as Vice-Chair of the Board of the Rouge Valley Health System and was Vice-Chair of the Governing Council of the University of Toronto. Mary Anne is a Past President of the Canadian Club of Toronto and the Project for the Advancement of Childhood Education (Canada). She has also served on the Board of Trustees for the Centre for Addiction and Mental Health (CAMH), as a Governor of the Air Cadet League of Canada and as a member of the Boards of Tropicana Community Services Organization and the YMCA of Greater Toronto. Mary Anne is currently a member of the Boards of Directors for CUSO International and Grace Kennedy Group Ltd. Mary Anne has been appointed to the Order of Ontario and has received Honorary Doctor of Laws Degrees from the University of Toronto, York University and Lakehead University, A Vice-Chancellor’s Award from the University of the West Indies, a YWCA Woman of Distinction Award, the Queen Elizabeth II Diamond Jubilee Medal, the Golden Jubilee Medal of Queen Elizabeth II, and the Prime Minister of Jamaica’s Medal of Appreciation. Mary Anne majored in Commerce and Political Science for her Hons. B.A. at the University of Toronto and is a Fellow of the Institute of Canadian Bankers, a Chartered Director and a Member of the Institute of Corporate Directors.
Nancy Croitoru President & CEO, Food & Consumer Products of Canada MEMBER, PENSIONS Term: 2012-2015 COMMITTEE & PRPC Nancy Croitoru is President & CEO of Food & Consumer Products of Canada (FCPC), Canada’s largest association of companies that manufacture and distribute food, beverage and consumer packaged goods. Nancy sits on FCPC’s Board of Directors, oversees the association’s operations, and acts as an industry spokesperson, liaising with trading partners and senior government officials on issues of concern to the membership. Nancy is also Co-Chair of the Consumer Goods Forum (CGF) Global Liaison Group, an Page 5 of 271 alliance of Consumer Goods Associations around the world, working together on global initiatives and providing strategic insight and support to the global Consumer Goods Forum. As well she sits on the Board of Governors for the University of Guelph and the Board of Directors for the Ontario Telemedicine Network (OTN). Prior to joining FCPC, Nancy was President of GCI Group Canada, a full-service public relations and public affairs agency. Nancy holds an Honours Bachelor of Science degree from McGill University, a degree in dietetics and is fully bilingual. Nancy has successfully completed the Institute of Corporate Directors program and holds an ICD.D designation.
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Earl Ellis MEMBER, FINANCE Vice-President FP& A, Canadian Tire Corporation COMMITTEE Term: 2011-2017
UofG ALUMNUS Earl Ellis is Vice President Financial Reporting and Analysis, Canadian Tire Retail. Earl has held a number of finance positions of increasing responsibility within the consumer packaged goods industry in both Canada and the U.S., including roles at Campbell Soup Company (2006-2014), Kraft Canada (1999-2006) and Coca-Cola Bottling (1194-1999). Earl earned his Bachelors of Arts degree with honours in Management Economics from the University of Guelph. He received his Chartered Accounting designation and is a »1“ member of the Ontario Institute of Chartered Accountants. Earl lives with his wife and two sons in Toronto.
Paul Gallagher CHAIR, PENSIONS CFO, Wittington Investments, Limited COMMITTEE Vice-Chair Wittington Properties Limited Term: 2013-2016
Paul Gallagher is CFO, Wittington Investments, Limited. Wittington owns a number of public and private companies including George Weston Limited, one of North America’s largest food processing and distribution groups which operates under the Weston Food and Loblaw banners and the Selfridges Group, which operates luxury fashion retail stores Holt Renfrew in Canada, Selfridges in the United Kingdom, Brown Thomas in Ireland and DeBijenkorf in the Netherlands. Previous to this, Mr. Gallagher worked in a number of leadership roles with the Avana Capital Group, Fairwater Capital, Oxford Developments and PriceWaterhouseCoopers. Mr. Gallagher currently serves as Vice Chair and Treasurer, Bridgepoint Health. He is past President of the Board, Children’s Aid Society of Toronto and has served on the boards of Rostland Corporation, Ryerson Oil and Gas and Northern Geophysical Company of America. A graduate of Lakehead University’s Honors Bachelor Commerce program, he is a Chartered Professional Accountant (CPA) and a graduate of the Director’s Education program of the Institute of Corporate Directors (ICD.D).
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MEMBER, FINANCE Effie Gatsinos COMMITTEE Assistant Registrar, Student Recruitment, Office of Registrarial Services Term: 2010-2016 UofG ALUMNA Effie Gatsinos is an elected staff member to the Board of Governors. Effie has held several positions in Admission Services over the last thirteen years, and is currently the Assistant Registrar, Student Recruitment. Effie received an Honours Bachelor of Science degree in Biological Science and Neuroscience, and also completed a Master of Arts (Leadership), both from the University of Guelph. In her years as both a student and staff member at Guelph, Effie has served on a number of University committees including, but not limited to, University Budget, Student Housing Services, University Judicial, and various selection and hiring committees. Effie has also represented the University of Guelph on various provincial admission and recruitment committees. Her most significant contribution has been through the Ontario Universities' Fair Steering Committee, where she served as Chair for three years. As well, she was the President of the Ontario University Registrars' Association.
Paul Gibson MEMBER, GOVERNANCE & Founder, Managing Director True Capital Group PRPC COMMITTEES Term: 2014-2017
Paul is the founder and Managing Director of the True Capital Group, a consulting firm focused on the human elements of business. Prior to launching True Capital, Paul’s professional experience includes executive Human Resource leadership roles for diverse firms such as Mattamy Homes, Fidelity Investments, Palliser Furniture and Noma Industries. In addition, he has led operating and marketing functions including President of Commercial Centres with Mattamy, accountable for the development, construction, leasing and management of a portfolio of commercial and retail centres. Paul’s industry experiences include financial services, manufacturing retail, construction, import, technology, real estate, packaging, printing, consumer goods, and automotive. A Certified Director through the Institute of Corporate Directors, Paul has served on the Board of West Park Healthcare and has been a Director or Advisor for organizations such as The
Page 7 of 271 Goodman School of Business, The Salvation Army, Halton Learning Foundation, Burlington Art Centre, Storytellers School of Toronto, the Oakville Centre for the Performing Arts, Special Olympics Manitoba and Boy & Girls Clubs of Ontario. Paul is also a former instructor on Strategic Human Resource Management at Ryerson University, a past Director of the Human Resource Professionals Association, a past member of the Special Experts Panel on Employee Relations for the US-based Society of Human Resource Management, a chair & speaker at conferences and a commentator on Human Resources related matters for CBC Radio.
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Kevin Golding BOARD VICE-CHAIR Retired, Senior Operating Executive, Maple Leaf Foods Term: 2008-2017 CHAIR, GOVERNANCE COMMITTEE Recently retired Senior Operating Executive with Maple Leaf Foods who worked with Maple Leaf in various locations across Canada for close to 34 years. At retirement in December 2013, Kevin was the President of MEMBER, AUDIT COMMITTEE two Maple Leaf Companies, Rothsay, a Rendering and Biofuels business with 6 locations in Canada (business was sold to Darling Intl in late 2013) and President of Maple Leaf Agri Farms, a Hog production UofG ALUMNUS and feed milling business with multiple locations in Manitoba and Saskatchewan. He is the former Chairman of the National Renderers Association (Alexandria, Virginia). Kevin is a graduate of McMaster University with Honours B.Comm. He and his family are long-term residents of Guelph. Kevin remains engaged in various business endeavours in his retirement while also protecting time to be a very active grandparent for his 4 granddaughters living Guelph.
Ric Jordan MEMBER, PRPC Manager, Arboretum, University of Guelph Term: 2012-2015 UofG ALUMNUS - associated with the University since 1969 - began working in contract positions on campus in 1975, became full time in 1978 at The Arboretum - past president UGAA - have served on executive for USW 4120 and Professional Staff Association in past - married with two adult children
MEMBER, FINANCE Anne Laarman COMMITTEE Graduate student (PhD, Animal and Poultry Science) Term: 2014-2015
Anne Laarman is a Ph.D candidate in the Department of Animal & Poultry Science. During his time at the University of Guelph, he served on Senate and numerous standing Senate Committees for 3 years running,
Page 8 of 271 and was the graduate student member of the Program Prioritization Process Task Force. Also, Anne was involved with the Graduate Students’ Association (GSA), serving as General Director, Vice-President Internal, and President over the course of 3 years. Currently, he is also a grant writer & policy consultant for a non-profit music school in Alberta. Anne earned a B.Sc. and a M.Sc. from the University of Alberta.
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MEMBER, AUDIT & Peter MacGowan GOVERNANCE Partner, Financial Services Group, Blake COMMITTEES Term: 2011-2017
Peter is a graduate of the Ontario Agricultural College (OAC '81) and of the Faculty of Law, University of UofG ALUMNUS Toronto. He is a partner with Blake, Cassels & Graydon LLP where he has practiced corporate and banking law since joining the firm in 1990. After graduating from Guelph, Peter competed as an oarsman with the Canadian National Rowing Team, including at the 1984 Olympic Games. He subsequently served as a infantry officer with Her Majesty's Canadian Armed Forces for five years. Peter is married with a son and a daughter. He continues as an active rowing competitor, and spends as much time as he can on his family's Grey County farm.
MEMBER, PENSIONS & Andrew Marsh FINANCE COMMITTEES President & CEO, Richardson GMP Limited Term: 2012-2015 MEMBER, VP (RESEARCH) Andrew Marsh has been in the investment industry for over 20 years. Before he was appointed CEO in REVIEW COMMITTEE 2013 2010, Mr. Marsh was Managing Director, National Sales of Richardson GMP Limited and GMP Private Client
L.P. for six years. In this role, he oversaw day-to-day operations and national business development. Mr. UofG ALUMNUS Marsh was also President of GMP Insurance Inc., leading operations and strategic initiatives for the estate and family wealth planning services within GMP Private Client. Prior to joining GMP Private Client, Mr. Marsh enjoyed a successful career at ScotiaMcLeod as an Investment Advisor and Branch Manager. Mr. Marsh is a member of the University of Guelph’s Board of Governors. In addition, he is on the Board of personal fundraising for Right to Play Canada and is a member of Canada Company, an organization comprised of Canadian business leaders that works with the military in providing support to family members of those who serve in Canada’s armed forces. He has previously served as a member of the National Private Client Committee of the Investment Industry Association of Canada and is also a member of the Centre for Fiduciary Excellence. Mr. Marsh graduated from the University of Guelph and holds a B.A. (Management Economics).
Wendy Millar MEMBER, AUDIT & EVP & CRO, Personal & Commercial Banking, BMO Financial Group Page 9 of 271 GOVERNANCE Term: 2011-2017 COMMITTEES Wendy Millar EVP & Chief Risk Officer Personal and Commercial Banking BMO Financial Group Wendy has U of G ALUMNA been with BMO since 1983 and has held a number of executive leadership roles across the enterprise including within the Personal and Commercial Bank and the Enterprise Risk and Portfolio Management groups. Experience includes commercial banking, product management, credit risk and management of the Bank’s high risk personal and commercial accounts. Ms Millar was previously on the Board of the Children’s Aid Foundation, Interac, MasterCard International and holds various Board positions on several subsidiaries and strategic alliances for the Bank. Ms Millar is a graduate of the University of Guelph’s BA and MA
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Economics programs.
Peter Miller MEMBER, PRPC Undergraduate Student (B.A., History) Term: 2014-2015
Peter is a fourth year student and was recently elected by students as Academic and University Affairs
Commissioner of the CSA. Peter was elected by students with a mandate to oppose tuition fee increases, the PPP and cuts to academic programs that are looming over campus. He strongly believes in free, accessible, and quality education, which offers diverse programming. He has been active organizing against tuition fees since high-school.
CHANCELLOR & EX OFFICIO Mr. David Mirvish, CM, O.Ont. GOVERNOR Term: 2012-2018
TRUSTEE Appointed by the University of Guelph Senate as its Chancellor on February 13, 2012, Mr. David Mirvish is a Canadian art collector and theatre producer. Mr. Mirvish is currently the owner and operator of Toronto’s Royal Alexandra Theatre, Princess of Wales Theatre, Ed Mirvish Theatre (formerly the Canon Theatre) and MEMBER OF SENATE Panasonic Theatre. From 1987 to 1998, Mr. Mirvish also operated the renowned Old Vic Theatre in London, England, (purchased and renovated by his father, Ed Mirvish, in 1982). From 1963 to 1978 Mr. Mirvish ran the David Mirvish Gallery, which specialized in contemporary art from Canada, the United States and England. Mr. Mirvish continues to collect privately and to lend works to museums for exhibitions. In 1994 he was the recipient of the Toronto Arts Award for the Visual Arts. Mr. Mirvish has received many awards and recognitions for his contributions to the Canadian arts scene, including being named to the Order of Ontario and appointed to the Order of Canada, the country’s highest honour of lifetime achievement. He has been presented with honorary doctorates from Queen’s University, the York University Fine Arts department, the Faculty of Applied Arts at Ryerson University and University College, the University of Toronto. He has served on the board of trustees of The National Gallery of Canada and the Royal Ontario Museum.
Jonathan Newman MEMBER, PRPC Director, School of Environmental Sciences Term: 2013-2016 Page 10 of 271 Jonathan is a native New Yorker. He did BA and PhD degrees at the University at Albany, State University of New York. He was a postdoctoral fellow at Linacre College, Oxford University, from 1990-1994, assistant professor at Southern Illinois University from 1994-1999, and a University Lecturer and Fellow of St. Peter’s College, Oxford University, from 1999-2004. For the past 10 years, Jonathan has been a faculty member in the Ontario Agriculture College, at Guelph. He has served as Chair of the Department of Environmental Biology, and as the founding Director of the School of Environmental Sciences.
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CHAIR, AUDIT COMMITTEE Neil Parkinson Partner, Audit, National Insurance Sector Leader, KPMG LLP MEMBER, PENSIONS Term: 2012-2015 COMMITTEE Neil is a Fellow of Chartered Professional Accountants of Ontario (FCPA, FCA) and a partner in KPMG LLP.
He has worked in public accounting since receiving a Bachelor of Mathematics degree from the University of MEMBER OF SENATE Waterloo in 1977, and qualified as a Chartered Accountant in 1978. He is KPMG’s National Insurance Sector Leader for Canada, based in Toronto. Neil is the chair of the Insurance Auditors Advisory Committee to the Canadian federal financial services regulator, the Superintendent of Financial Institutions Canada, and is a member of the Canadian Accounting Standards Board’s Insurance Accounting Task Force and of KPMG’s global insurance technical committee. He has chaired or co-chaired technical working groups for the Canadian Institute of Chartered Accountants and joint working groups with the Canadian Institute of Actuaries. He has also served as a volunteer, director, treasure, board chair or president of several community and national organizations, including Prostate Cancer Canada. He is currently a member of the Board of Governors and the Senate of the University of Guelph.
Mike Ridley MEMBER, PRPC Librarian, University of Guelph Term: 2012-2015
Mike Ridley is a librarian at the University of Guelph currently teaching in the First Year Seminar Program. Ridley has been a professional librarian since 1979 working at a variety of positions at the University of Guelph, the Health Sciences Library at McMaster University, and the University of Waterloo. In 1995 he returned to the University of Guelph as the Chief Librarian and in 2004 was named the Chief Information Officer (CIO). He held those roles until 2012. Ridley has served as the President of the Canadian Association for Information Science, President of the Ontario Library Association, and the Chair of the Ontario Council of University Libraries. He has been a member of the Board of the Canadian Association of Research Libraries (CARL) the Canadian Research Knowledge Network (CRKN), and the Canadian University Council of CIOs (CUCCIO). Currently Ridley serves on the Boards of the Ontario Research and Innovation Optical Network (ORION) and the Canadian Library Association.
MEMBER, FINANCE Byron Sheldrick Page 11 of 271 COMMITTEE Chair, Department of Political Science Term: 2014-2017
Byron Sheldrick joined the University of Guelph in 2006 and currently is the Chair of the Political Science Department. He previously taught in the law department of Keele University in the United Kingdom and in the politics department of the University of Winnipeg. His research interests include law and politics, human rights, and social movements. He is an active member of Senate, currently serving as Chair of the Senate Committee on Student Petitions. In his spare time he is a keen birder, and dabbles in photography.
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Daniel Troster MEMBER, FINANCE Undergraduate Student (Biomedical Science) COMMITTEE 2014-2015
Daniel Troster started his undergraduate degree at the University of Guelph in September of 2012 and is now entering his third year in the Biomedical Science program. Daniel was born and raised in Toronto where he graduated high school from Crestwood Preparatory College in June 2012. He had never lived away from home until he moved in to the Lennox Addington residence building at the university in his first year. He fell in love with Guelph the minute he stepped foot on campus for the first time. He is now very proud to call Guelph his home. Daniel has a strong passion for child health care and wants to work hard to ensure all children around the world have proper medical care so they can all live happy and healthy lives. Daniel is highly involved in many different areas on campus. He is a board member for the Central Student Association and College of Biological Science Student Council. He also serves as the Jewish Faith Ambassador for the Multi-Faith Resource Team and is involved with Guelph Hillel, the Jewish Students Organization on campus as well. Daniel is on the Board of Governors to ensure that this fabulous university continues to grow, succeed and prosper. He is a strong believer in students having a voice on the board because the University of Guelph is their community, and it is very important that their concerns and opinions are heard. He will make sure that student issues are voiced to the Board of Governors. Daniel will work very hard for his undergraduate peers and for the greater good of our university. Franco Vaccarino President & Vice-Chancellor PRESIDENT & VICE- Term: 2014-2019 CHANCELLOR & EX OFFICIO GOVERNOR An internationally recognized researcher and scholar, Dr. Franco J. Vaccarino became the University of Guelph’s eighth president and vice-chancellor in 2014. In 2007, he was named as principal of the University TRUSTEE (ex officio) of Toronto Scarborough Campus (UTSC) and vice-president of the University of Toronto; he was reappointed in 2012. At UTSC, he helped lead significant expansion of the campus and faculty, including INVESTMENT significant growth in the professoriate, the expansion of new interdisciplinary academic and research SUBCOMMITTEE MEMBER programs, and construction of a new science complex, instructional centre, and a major aquatics and sports (ex officio) facility that will be a key site for the 2015 Pan American games. He has served as executive vice-president (programs) and vice-president (research) at the Centre for Addiction and Mental Health, and as vice- CHAIR OF SENATE (ex president and director of research, Clarke Institute of Psychiatry, both in Toronto. He has received major officio) awards from the Canadian Institutes of Health Research and the Canadian College of Page 12 of 271 Neuropsychopharmacology, and was recently named as a Fellow of the Canadian Academy of Health Sciences. Dr. Vaccarino is the principal editor of the World Health Organization’s first comprehensive report on the neuroscience of substance dependence published in 2004. He has authored more than 100 publications and is frequently invited to speak at major international conferences on a variety of topics relating to his professional fields of study in psychology and neuroscience as well as his institutional leadership roles. At Guelph, Dr. Vaccarino is a tenured professor in the Department of Psychology. He holds a B.Sc. from the University of Toronto and an M.Sc. and Ph.D. in psychology from McGill University, and received post-doctoral training at the Scripps and Salk Institutes in California.
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MGUELP
BOARD OF GOVERNORS MEETING THURSDAY, JUNE 4. 2015 1:00 p.m. – 4:00 p.m. Boardroom UC 424
LIST OF ATTENDEES
Board Members Administrative Support Dick Freeborough (Chair) Daniel Atlin, VP External Graham Badun Robin Begin, Director, Campus Community Police Nancy Brown Andison Sue Bennett, Director, University & Community Relations Shauneen Bruder Karen Bertrand, AVP, Major Gift Advancement Mary Anne Chambers Malcom Campbell, VP Research Earl Ellis Bob Carter, Assistant VP, Physical Engineering Paul Gallagher Chuck Cunningham, AVP (Communications & Public Affairs) Effie Gatsinos Serge Desmarais, Interim Provost & VP Academic Paul Gibson Genevieve Gauthier, Assistant University Secretary Kevin Golding Rebecca Graham, CIO & Chief Librarian Ric Jordan Martha Harley, AVP Human Resources Anne Laarman Lori Hunt, Associate Director, News Service Peter MacGowan John Livernois, Interim, VP Research Wendy Millar John Miles, AVP Finance and Integrated Planning Peter Miller Rich Moccia, AVP Research, Strategic Partnerships Jonathan Newman Mary Murphy, Legal Counsel Neil Parkinson Sandra Nervo, Chief Internal Auditor Daniel Troster Kate Revington, Associate University Secretary Franco Vaccarino (President) John Walsh, Vice Provost, University of Guelph-Humber Vicki Hodgkinson (University Secretary) Brenda Whiteside, AVP Student Affairs Ann Wilson, Acting Associate VP Academic
Regrets Guests Nancy Croitoru Darrin Chasty Andrew Marsh Julia Christensen-Hughes, Dean CBE David Mirvish (Chancellor) Janice Folk-Dawson Mike Ridley Rob Gordon, Dean OAC Byron Sheldrick Brian Gorman Laura Maclure Nanci Morley Elizabeth Stone, Dean OVC
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Meeting Attendance Page 13 of 271 Page 14 of 271 (1INIVE ITY MGUELH UNIVERSITY SECRETARIAT
CHANGING LIVES IMPROVING LIFE To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 1. Pre-Meeting Presentation 2. Welcome and Approval of Agenda
Meeting: Thursday, June 4, 2015
1. Pre-Meeting Presentation
At most Board of Governors’ meetings, a pre-meeting presentation is incorporated as part of the ongoing orientation of Governors. The presentation provides an opportunity to share information and engage in discussion about an operational area or issue of relevance to the Board of Governors. Approximately 10 to 20 minutes of the meeting time is allocated for this purpose.
Dr. Julia Christensen-Hughes Dean, College of Business and Economics will provide a presentation up-dating the Board on the overview of developments for the College of Business & Economics, including how the renovation of Macdonald Hall figures in the College's go-forward plan.
2. Welcome and Approval of Agenda
a) Welcome and Introductory Remarks from the Chair
The Chair will call the meeting to order, offer welcome and introductory remarks.
Members will be invited to express appreciation to all those Governors whose Board of Governors’ appointment will conclude on June 30, 2015 including:
Dick Freeborough External Appointment (2005 – 2015) Ric Jordan Staff Member (2012 – 2015) Anne Laarman Graduate Student (2014 - 2015) Peter Miller Undergraduate Student (2014 – 2015) Mike Ridley Faculty Member (2012 – 2015) Daniel Troster Undergraduate Student (2014 – 2015)
Macdonald Hall Renovations - Page 15 of 271 College of Business and b) Approval of the Open Session Agenda and Consent Items
The Board of Governors is asked to,
RESOLVE, That the Open Session agenda be approved, as presented; and
FURTHER RESOLVE, That the following motions associated with items described in the meeting package be approved:
3a) Approval of the Open Session Minutes of April 16, 2015
RESOLVE, That the Open Session minutes of April 16, 2015 be approved, as presented.
3b) Approval of the Special Meeting Minutes of April 26, 2015
RESOLVE, That the Special Meeting minutes of April 26, 2015 be approved, as presented.
5b) Proposed Text Amendments to Pension Plans Arising from Collective Agreements (CUPE 1334, CUPE 1334 Unit 1, CUPE 3913 Unit 2, Exempt Group, P&M, USW)
RESOLVE, That the Board of Governors accept and approve the proposed resolutions concerning amendments to the text of the Professional Pension Plan and the Retirement Pension Plan, as presented.
5c) Annual Review of Statement of Investment Policies and Procedures (SIP&P)
RESOLVE, That the Board of Governors accept and approve amendments to the Statement of Investment Policies and Procedures for the University’s pension plans, as presented.
7c) iii) Stone Road East Easement
RESOLVE, That, the Board of Governors accept and approve that a 5 meter by 12 meter permanent easement at the southwest corner of Stone Road East and Village Green Drive be conveyed to the City of Guelph, subject to the following conditions: that the salient points of the conveyance agreement are consistent with those set out in this memorandum to the Physical Resources and Property Committee dated May 13, 2015; that any two Officers of the University be authorized on behalf of the University to execute and deliver any and all documents as may be approved by legal counsel to the University, with such non-material alterations, amendments, deletions, or additions as may be approved by the Officers executing same and that execution shall be conclusive evidence of such approval; and
Macdonald Hall Renovations - Page 16 of 271 College of Business and
that the University Administration report back to the Physical Resources and Property Committee on the details of the agreement and provide a summary of the outcome of the transaction to the Board of Governors.
7d) Endowment Investment Policy – Annual Review
RESOLVE, That the Board of Governors accept and approve the proposed amendments to the Endowment Investment Policy in respect of the investments of the University of Guelph General Endowment Fund, as presented.
8e) Update to Signing Authority Registry
RESOLVE, That the Board of Governors accept and approve the proposed update to the Signing Authority Register, as presented.
8f) Art Gallery of Guelph Board of Trustees: University Appointees
RESOLVE, That the Board of Governors accept and approve that Ms Rebecca Graham be appointed as a University representative on the Art Gallery of Guelph Board of Trustees, for a term ending in July 2016.
And,
RESOLVE, That the Board of Governors accept and approve that Ms Martha Harley be appointed as a University representative on the Art Gallery of Guelph Board of Trustees, for a two-year re-appointment beginning in July 2015.
And,
RESOLVE, That the Board of Governors accept and approve that Mr. Daniel Atlin be appointed as a University representative on the Art Gallery of Guelph Board of Trustees, for a two-year term beginning in July 2015.
8g) 2015 – 2016 Internal Governor Appointments
i) Undergraduate Students
RESOLVE, That the Board of Governors accept and approve that Ms Jennah Carere and Mr. James Rice be appointed to the undergraduate student seats on the Board of Governors for one-year terms effective July 1, 2015 to June 30, 2016.
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ii) Graduate Student
RESOLVE, That the Board of Governors accept and approve that Ms Adina Bujold be appointed to the graduate student seat on the Board of Governors for a one-year term effective July 1, 2015 to June 30, 2016.
iii) Faculty
RESOLVE, That the Board of Governors accept and approve the appointment of Professor Sally Hickson to the Board of Governors for the period July 1, 2015 to June 30, 2018.
iv) Staff
RESOLVE, That the Board of Governors accept and approve the appointment of Ms Irene Thompson to the Board of Governors for the period July 1, 2015 to June 30, 2018.
v) Pensions Committee – Professional Plan Representatives
RESOLVE, That the Board of Governors accept and approve that Mr. Kelly Bertrand and Professor Kelly Meckling be appointed as Professional Plan Representatives to the Pensions Committee of the Board of Governors for two-year terms effective July 1, 2015 to June 30, 2017.
vi) Pensions Committee – Retiree Representative
RESOLVE, That the Board of Governors accept and approve that Dr. Doug Badger be appointed as University of Guelph Retiree’s Association Representative on the Pensions Committee of the Board of Governors for two-year terms effective July 1, 2015 to June 30, 2017.
8h) Proposed Amendments to Terms of Reference: Audit and Governance Committee
RESOLVE, That the Board of Governors accept and approve the proposed amendments to the current Audit and Governance Committees’ Terms of Reference, as presented.
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Macdonald Hall Renovations - Page 18 of 271 College of Business and UNIVERSITY SECRETARIAT
To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 3. Approval of Minutes
Meeting: Thursday, June 4, 2015
a) Approval of the Open Session Minutes for April 16, 2015
The Board of Governors is asked to,
RESOLVE, That the Open Session minutes of the April 16, 2015 meeting be approved, as presented.
b) Approval of the Special Meeting Minutes for April 26, 2015
The Board of Governors is asked to,
RESOLVE, That the Special Meeting minutes of the April 26, 2015 meeting be approved, as presented.
c) Business Arising
Advocacy Letter – Further to the commitment made to Governors at the April 26, 2015 meeting, a letter was prepared and sent to the provincial government calling or improved funding for universities and enhanced measures to address students’ financial accessibility. This letter was sent to all Governors for information by email on May 4, 2015 and is also enclosed for reference.
Comparator Information on Tuition Fee Rates and Faculty Salaries – Further to the requests made by Governors at the meeting on April 26, 2015, enclosed is comparator information prepared concerning tuition fee rates and faculty salaries. This information was also shared with the Finance Committee at its meeting on May 20, 2015.
All other matters of business arising are addressed elsewhere in the agenda.
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Approval of the Open Session Page 19 of 271 Minutes for April 16, 2015 Page 20 of 271
BOARD OF GOVERNORS OPEN SESSION Minutes of the 327th meeting held Thursday, April 16, 2015
Present: Dick Freeborough (Board Chair), Graham Badun, Shauneen Bruder, Mary Anne Chambers, Nancy Croitoru, Effie Gatsinos, Paul Gibson, Kevin Golding, Ric Jordan, Anne Laarman, Peter MacGowan, Andrew Marsh, Wendy Millar, Peter Miller, Jonathan Newman, Neil Parkinson, Mike Ridley, Byron Sheldrick, Daniel Troster, Franco Vaccarino (President), Vicki Hodgkinson (University Secretary)
Regrets: Earl Ellis, Paul Gallagher, David Mirvish (Chancellor)
Administrative Support: Daniel Atlin, Karen Bertrand, George Bragues, Bob Carter, Chuck Cunningham, Serge Desmarais, Gen Gauthier, Lori Hunt, John Miles, Rich Moccia, Mary Murphy, Sandra Nervo, Don O’Leary, Kate Revington, Brenda Whiteside, Philip Wong
Guests: Hasnul Faiz Abdollah, Asia Barclay, Sofia Beccerra, Olivia Boonstra, Ryan Bowes, Sarah Briones- Clarke, Sonia Chwalek, Tristan Dineen, Caroline Elworthy, Natalie Gandhi, Adam Gourlay, Sally Hickson, Miranda Ivany, Gracie James, Marian Kelly, Tyler Knip, Shawna MacLeod, Noel Mano, Sonali Menezes, Scarlett Raczycki, Sarah Scanlon, Amber Sherwood-Robinson, Irene Thompson, Ian Thut, Megan Whan, Robert Wicher, Kelly Zantingh, Will Shaw, Garrett Winkle, Karl Drackert, Cameron Litchmore, Brendan Compisi, Odesia Howlett, Jordan Walters, Waqae Ahmad, David Imrie
1. Welcome and Approval of Agenda a) Welcome and Introductory Remarks from the Chair
The Chair called the meeting to order and welcomed guests mentioning particularly those in attendance who had recently been elected for appointment to the Board of Governors in 2015-16 and who are current or elected as 2015-16 members of the executive for the Central Students Association (CSA).
The Chair reviewed provisions for guests attending Board meetings highlighting, in particular, the following points that had also been conveyed individually to each meeting guest:
There are no speaking privileges for guests unless they have been advised of such privileges in advance of the meeting (e.g. resource personnel, invited presenters) or, at the meeting in response to due process, are provided with speaking privileges.
No audio or visual, or audio and visual record or transmittal by any Guest of any Board of Governors, Board of Trustees, or Board Committees is permitted without prior approval by the Chair of the relevant meeting.
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The Chair confirmed that he had not received any request for audio or video recordings or transmittal of the meeting and, consequently, none were permitted to be made. He also advised that exams would soon be underway elsewhere in the building so quiet was requested.
At this time, some number of guests interfered with the progress of the meeting by reading various statements, chanting loudly and banging on desks.
The Chair called for order. The statements, loud chanting and other noise continued. The Chair indicated that the Board would listen for a limited period of time. Board members listened respectfully. One Board member attempted to engage in discussion those guests offering statements.
The Chair persisted in attempts to achieve order. The interference with the progress of the meeting through certain guests reading various statements, chanting loudly and making loud noises continued for more than 30 minutes after which a spokesperson for the guests indicated that they had concluded and requested that they be able to stay to listen to the remainder of the meeting.
Another Board member encouraged certain guests to continue with their interference with the progress of the meeting.
As the interference with the progress persisted and order could not be achieved sufficiently to allow the meeting to proceed, on motion duly moved and seconded, it was
RESOLVED, That the meeting be adjourned.
The meeting adjourned at approximately 2:15 p.m.
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Approval of the Open Session Page 22 of 271 Minutes for April 16, 2015
BOARD OF GOVERNORS SPECIAL MEETING Held via Teleconference
Minutes of the 328th meeting held Sunday, April 26, 2015
Present: Dick Freeborough (Board Chair), Graham Badun, Nancy Brown Andison, Shauneen Bruder, Mary Anne Chambers, Nancy Croitoru, Paul Gallagher, Paul Gibson, Ric Jordan, Anne Laarman, Peter MacGowan, Andrew Marsh, Wendy Millar, Peter Miller, Jonathan Newman, Neil Parkinson, Mike Ridley, Byron Sheldrick, Franco Vaccarino (President), Vicki Hodgkinson (University Secretary)
Regrets: Earl Ellis, Effie Gatsinos, Kevin Golding, David Mirvish (Chancellor), Daniel Troster
Administrative Support: Serge Desmarais (Interim, Provost & VP Academic), Gen Gauthier (Assistant University Secretary), Don O'Leary (VP Finance, Administration & Risk), John Miles (Associate VP Finance and Integrated Planning), Kate Revington (Associate University Secretary), John Walsh (Vice-Provost Academic, Guelph-Humber)
1. Welcome and Approval of Agenda a) Welcome and Introductory Remarks from the Chair
The Chair called the meeting to order. He briefly reviewed the circumstances necessitating that this meeting occur via teleconference. Governors were advised that the meeting materials had been posted publicly and the minutes, when finalized, will also be made available publicly. Mr. Freeborough reviewed with Governors the procedures to be utilized in light of the use of teleconference for the meeting so as to ensure all Members would have an opportunity to speak and understand the means for voting on motions.
The Chair expressed appreciation to Governors for their availability for the meeting on relatively short notice. He observed that the proposed agenda items were limited to items of immediate concern that remain outstanding due to the early adjournment of the April 16, 2015 Board of Governors meeting. Governors were advised that the agenda incorporated most decision items originally included in the Open Session meeting package prepared for the April 16th meeting. The Chair noted that all remaining decision items (i.e., amendments to the Audit Committee terms of reference) and all information reports from the April 16th Open Session meeting package would be incorporated into the materials prepared for the next regular meeting of the Board of Governors (June 4, 2015).
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Approval of the Special Meeting Page 23 of 271 Minutes for April 26, 2015 Board of Governors Special Meeting of April 26, 2015
Governors were also informed of the proposal that decision items originally included in the Closed Session meeting package prepared for the April 16th meeting be referred to the Board of Governors Executive Committee for a decision. Mr. Freeborough highlighted the component of the proposed motion for approval of the agenda that would affect the related delegation of authority. He reviewed the membership of the Executive Committee and invited any questions or comments in regard to this proposed approach. There were none.
The Chair advised the Board that, following the Special Meeting, the University will issue a media release reporting on the outcome of the meeting.
Members were invited to offer declarations of any conflicts of interest in relation to the proposed meeting agenda. There were none.
b) Approval of the Agenda, Consent Items and Related Matters
On motion duly moved and seconded, it was
RESOLVED, That the agenda be approved, as presented; and
FURTHER RESOLVED, That the Board of Governors Executive Committee be delegated authority to make decisions concerning the matters originally proposed for consideration as part of the April 16, 2015 Closed Session meeting; and,
FURTHER RESOLVED, That the following motion associated with item 2a) described in the meeting package be approved:
2a) Approval of the Open Session Minutes of January 27, 2015
RESOLVE, That the Open Session minutes of January 27, 2015 be approved, as presented.
2. Approval of Minutes a) Approval of the Minutes for January 27, 2015
The minutes were approved through the consent agenda.
b) Business Arising
The Chair expressed appreciation on behalf of all Governors to the student members of the Board for the recommendations they had prepared with regard to best practices for engagement of students in the annual process of budget
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development. Mr. Freeborough confirmed that the University Administration and the Board’s Finance Committee have each committed to proceed in future with communications mechanisms and meeting plans that reflect the students’ input.
3. Finance Committee Report a) University of Guelph 2013-17 Integrated Plan and Proposed 2015-16 MTCU Operating Fund Budget
Referencing the detailed materials provided in the meeting package, the Chair of the Finance Committee provided Governors with an overview of the budget-related presentations and information considered and discussed by the Committee at its meetings in February and in April. Ms Bruder advised that the Committee considered carefully the key assumptions underpinning the budget proposal in the context of presentations given by the Central Students Association (CSA), the Graduate Students’ Association (GSA) and the Canadian Union of Public Employees (CUPE), Local 1334. She also reported that the Committee had considered the comments offered by Senate at its April 2015 meeting concerning the proposed budget.
Ms Bruder also described the Committee’s consideration of the process for budget development and, reinforcing Mr. Freeborough’s earlier comments, expressed appreciation for the advice provided by the student members of the Board on measures to improve student engagement on budget matters in future. She noted that several of the suggestions offered had been incorporated in the current year’s process including a change to the April Board of Governors meeting date so that it would occur before the end of the exam period, and town hall sessions focused on the budget.
The Board was provided with an overview of the Finance Committee’s in-depth review of the proposed MTCU Operating Fund Budget that included attention to:
perspectives raised through stakeholder presentations (CSA, GSA, CUPE 1334) and Senate, including those associated with affordability for students such as investments for undergraduate and graduate student financial assistance, continuing attention to educational quality, and the need for measures to assure the long-term financial sustainability of the University current and emerging factors (and related indicators) that will affect the University’s capacity to continue to receive provincial operating grants. (Ms Bruder advised the Committee has requested further background on this area of consideration for review by the Committee and Board as a whole.) the current context for revenue generation, including attention to operating grant levels and allocation mechanisms, enrolment demographics and related projections, tuition fee rates, and opportunities available for revenue diversification
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the need for contingency planning in the event that a worst case scenario emerges in 2017 in that no relief is available for University’s solvency funding requirements of its pension plans the University’s progress with its multi-year planning goals for preservation of a balanced budget through to 2017, including information about the gaps remaining for achievement of unit-level targets and the related financial bridging strategies the approach to be used for managing the Performance Investment Fund (i.e., such as funding to support advance curricular innovation or operational efficiencies)
Ms Bruder noted that, as part of its deliberations, the Finance Committee had also indicated it wishes to deepen its understanding of how unit-level contingencies (i.e. carry forwards) and centrally-held contingencies are managed as part of the University’s multi-year financial plan. The Committee desires a fuller understanding of how these funds are being managed and used to preserve institutional stability and/or flexibility while also advancing the University’s overall budget restraint requirements.
The President and Provost each offered a brief introduction to a more detailed review of the budget proposal provided by the Assistant Vice-President (Finance & Institutional Planning.) Their introductory comments highlighted the context and underlying objectives of the budget proposal. They highlighted the critical importance of creating a sustainable operating platform for the University that allows it to respond to student expectations for quality education. This objective was challenged, it was observed, by the limits on public funding support, other public policy restrictions on institutional funding and changing demographics that will result in greater competition for enrolments. As a result, they emphasized, a balanced approach to budget planning in support of the overall goal is required that recognizes both short- and long-term realities.
Mr. Miles provided Governors with an overview of the University of Guelph 2013-17 Integrated Plan and Proposed 2015-16 MTCU Operating Fund Budget. He highlighted the underlying, key assumptions for the budget including related risks and opportunities being addressed in both the revenue and expense proposals. Governors were advised of enrolment declines anticipated for the coming year that were affecting revenue projections. Governors were also informed of the proposed approach to tuition fees. Cost-savings measures incorporated in the budget were reviewed including a proposal to utilize a portion of the University’s contingency fund to prepay the remaining portion of a 2011 restructuring deficit, thereby releasing $6.0 million from the University’s expense base.
Questions, comments and discussion were invited.
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Mr. Miller offered comments indicating that he would be voting against the budget, particularly in light of the proposed increases to tuition fees and budget cuts. He observed that the Board of Governors had voted to increase fees each year since 2006 and that instead, it should freeze tuition fee rates and take action on a call for more public funding of universities. He offered the view that the University had sufficient flexibility in its budget to avoid any tuition increases and to avoid any changes to academic programs that are harming students and reducing opportunities for student-teacher interaction.
Mr. Miller asserted that tuition fees fund over half of the operating cost of the University, representing a new low point in terms of public support for the funding of Ontario universities. He highlighted concerns about the impact of student debt and its impact on financial accessibility for students to university and its longer term implications in terms of the burden of debt carried after graduation. He reiterated his call for a tuition freeze and pointed to tuition freezes implemented by previous provincial governments. In response to Mr. Miller’s observations about past provincial decisions to freeze of tuition rates, it was observed that the freeze was accompanied by significant increases to basic operating grants to Ontario universities.
Following Mr. Miller’s comments, the Board of Governors was advised that the Board Chair and the President would be issuing a letter in the coming days addressed to the Minister of Training, Colleges and Universities following the meeting to highlight funding issues and request government action. Members expressed enthusiasm for the proposed letter and offered suggestions concerning the points that might be incorporated in making the case for improved funding for universities and enhanced supports to address students’ financial accessibility. It was noted that considerable effort had been made to develop an advocacy letter that might be jointly endorsed by the CSA and the Board of Governors but that the CSA had elected not to pursue the effort further.
Discussion ensued concerning the flexibility within the University’s budget, particularly the calls upon funds currently held in contingency and carry-forward amounts. Reference was made to the information reflected in the University’s 2014 audited statements with regard to pending liabilities associated with pension funding and other post-employment benefits to retirees. It was observed the current contingency amounts were not sufficient to address these liabilities and that it was necessary to the University’s long-term financial stability that these contingencies continue to be available to mitigate the impending requirements for these funding obligations.
Noting that salaries and benefits comprise a significant majority of the University’s annual expenditures, Members sought additional information concerning the University’s relative competitiveness in the compensation it offers employees. Some additional information and clarification was provided indicating that the University
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Approval of the Special Meeting Page 27 of 271 Minutes for April 26, 2015 Board of Governors Special Meeting of April 26, 2015
compared well with competitor organizations. It was noted that recent negotiations had focused on building a shared understanding about the University’s pension- related challenges and important changes had been implemented to support the financial sustainability of the plans. It was agreed that additional comparative information would be provided to Governors concerning compensation for University faculty.
Members also considered the information in the meeting package (p. 77) concerning multi-year targets at the unit level and the progress achieved to date. Particular note was made of the challenges remaining for the College of Arts (COA) in meeting its target. Dr. Desmarais provided Governors with an overview of the distinctive challenges for the COA and described the bridge funding approach that would be taken to support the College and support its curricular renewal and enrolment recruitment plan so as to meet its targets over a slightly longer time period than other Colleges. The President and Provost emphasized the critical importance of the COA in preserving the University’s comprehensive offerings and expressed their commitment to reinforcing the arts and humanities as part of the overall effort to preserve the University’s quality and diversity.
Members sought additional clarification concerning the approach to tuition fee rate increases, including the conditions that would need to prevail to have annual increases linked to the inflation rate. In response, members of the University Administration highlighted the University’s already limited flexibility in revenue generation and the risks to current and future revenue streams represented by the provincial government’s plans to review the current funding allocation formula in the coming year and also to introduce a new tuition fee framework. It was observed that at this time, these 2 factors together with the recognition that the University was already concerned that current base funding levels from government were inadequate, indicated that a policy that linked tuition fee rate increases to inflation would be not be in the interest of providing quality education for students.
Governors requested information on benchmarking for the University’s tuition rates to better appreciate how the proposed rates compared to those levied at other Ontario universities. It was agreed that this information would be provided for the Board’s next meeting.
Members considered the opportunity represented by the upcoming renewal of the University’s strategic plan as an important contributor to future budget planning as it would provide important context for assessing the balance between expenditures and revenues relative to the academic mission and objectives of the University.
The Board Chair advised that, in advance of the meeting, a Member had suggested the addition of a preamble to the motion for the 2015-16 budget that helped illuminate the context for the Board’s decision. He reviewed proposed language for
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this purposed. Discussion followed with suggestions for refinements to the preamble language.
Mr. Miller asked that there be a recorded vote on the budget motion.
On motion duly moved and seconded, it was
RESOLVED, That voting on the motion concerning the University of Guelph 2013-17 Integrated Plan and Proposed 2015-16 MTCU Operating Fund Budget be a recorded vote.
On motion duly moved and seconded, the following preamble and motion were approved:
Whereas. at its meetings in February 2015 and April 2015, the Finance Committee received and considered budget-related information offered by the Central Students Association, Graduate Students’ Association, the Canadian Union of Public Employees Local 1334, and Senate; and,
Whereas, it is agreed that through a letter to be sent by the Chair of the Board of Governors and President, the University will urge the Government of Ontario to continue to enhance its student assistance programs in support of students’ financial accessibility and to increase its basic operating grants to preserve and further develop these institutions as critical infrastructure in support of the province’s long-term social and economic success;
It is hereby RESOLVED, That, following careful consideration of the financial challenges faced by the University and its students, the Board of Governors accepts and approves the 2015-2016 MTCU Operating Fund Budget within the 2013-2017 University of Guelph Integrated Plan, as presented.
As agreed, the vote was recorded. Mr. Miller voted against the motion. All other Members, except the Chair, voted in support of the motion. As is his practice with regard to all motions presented to the Board of Governors, the Chair of the Board of Governors did not vote.
b) Proposed 2015-16 Preliminary University of Guelph-Humber Operating Budget
Ms Bruder advised that the Finance Committee had reviewed the proposed 2015-16 operating budget for the University of Guelph-Humber and was recommending its approval by the Board.
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Dr. Walsh provided Governors with a brief overview of the detailed budget presentation provided in the meeting package focusing particularly on the planning context and key revenue and expenditure assumptions. Noting the increasingly competitive provincial environment for student enrolments, Dr. Walsh advised that the demographics in the Greater Toronto Area (GTA) bode well for continued achievement of Guelph-Humber enrolment targets as the decline in demand in the GTA was not as significant and was the primary source for Guelph-Humber recruitment.
Dr. Walsh also provided the Board with information about the positive year-end results anticipated for 2014-15, including revenue in excess of expenditures of approximately $18.2 million, $4.6 million over budget. Dr. Walsh noted that this amount is divided between the two parent institutions to help address institutional costs. This division of resources was in keeping with the joint venture agreement between the University of Guelph and Humber College Institute.
Mr. Miller advised that he would be voting against approval of the proposed University of Guelph-Humber budget for two reasons: (i) it included the same tuition fee increases as the University of Guelph’s MTCU operating fund budget about which he had raised concerns earlier and (ii) he regarded the excess of revenue over expenditures as a surplus, the use for which was not sufficiently well-defined. He offered the view that revenue in excess of revenue over expenditures represented a surplus that could be used to eliminate the need for tuition increases.
Governors were advised that the revenue in excess of expenditures generated by the University of Guelph-Humber was utilized to address institutional costs borne by Humber College Institute and the University of Guelph to help address the costs of services provided by the parent institutions that were necessary for running Guelph- Humber’s operations. He offered examples of these infrastructure costs and services citing registrarial services, medical services for students, book store operations, among others.
On motion duly moved and seconded, it was
RESOLVED, That the Board of Governors accept and approve the 2015-16 Preliminary University of Guelph-Humber Operating Budget, as presented.
c) Proposed 2015-16 Budgets for Other Ancillary Operations: Hospitality, Student Housing, Parking Services & Transportation Planning
Ms Bruder advised the Board of Governors that the Finance Committee was recommending approval by the Board of each of the proposed 2015-16 ancillary operations budgets. She indicated that after review of the detailed budget presentations no issues or concerns had been raised by the Committee.
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Questions and comments were invited.
Mr. Miller advised that he would be voting against approval of the ancillary budgets as they incorporated rate increases for student housing and student meal plans. He also commented that the corporate presence on campus through Hospitality operations was also a concern. He cited Starbucks as an example of this observation. Generally, he advised that it was not sustainable for students to continue to meet the costs of living on campus and that increased ancillary fees would result in greater numbers of commuter students.
In response to Members’ questions it was confirmed that the University of Guelph’s on-campus hospitality and food operations continue to receive high ratings from students and that pricing of student meal plans compare well to other Ontario universities with Guelph in about the middle of the pricing range. Governors were advised of some of the factors that contribute to the University’s success with its food services and it was observed that the University’s food services were an important and positive differentiator for success in student recruitment. It was also confirmed that students were part of the committee that reviewed the proposed Hospitality budget and that they had offered support for the budget presented for approval.
Mr. Golding retired from the meeting.
On motion duly moved and seconded, it was
RESOLVED, That the Board of Governors accept and approve the 2015-16 budgets for Hospitality Services, Student Housing Services, and Parking Services and Transportation Planning, as presented.
d) Proposed 2015-16 University Centre Operating Budget
Governors were advised that, following a detailed review of the proposed 2015-16 University Centre (UC) budget, the Finance Committee was recommending approval. Governors were reminded that the University Centre Board reports to the Board of Governors. It was confirmed that the UC Board had endorsed the proposed budget for Board of Governors approval and the majority of UC Board members are students.
Questions and comments were invited. There were none.
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On motion duly moved and seconded, it was
RESOLVED, That the Board of Governors accept and approve the 2015-16 University Centre Budget, as presented.
4. Other Business a) Other Business
The Chair inquired if there was any other business for the meeting. There was none.
In drawing the meeting to a close, Mr. Freeborough expressed his appreciation to all Governors for their assistance and cooperation with the Special Meeting and use of teleconference. He expressed appreciation for all of the questions, comments and insights offered on the matters considered, noting particular thanks to Mr. Miller for his cogent and comprehensive attention to the various matters addressed in the meeting.
The Chair observed the importance of hearing student perspectives and concerns as part of the discussions. In doing so, he emphasized that while there may be differences of opinion on the means for doing so, all Board members are committed to supporting decisions that will advance the educational experience of University of Guelph students and provide the University with a solid financial basis for continuing to deliver quality academic programs and research for generations to come. He indicated that all Governors are disappointed that more could not be done to alleviate the financial impacts for students but that the Board would continue to try to address this aspect of concern as it goes forward.
Mr. Freeborough reiterated the commitment to send the earlier-referenced advocacy letter to the provincial government as soon as possible following the meeting.
5. Adjournment
The meeting adjourned at approximately 2:30 p.m.
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Approval of the Special Meeting Page 32 of 271 Minutes for April 26, 2015 V LJN»Er” SHT
BOARD OF GOVERNORS
May 1, 2015
Hon. Reza Moridi Minister of Training, Colleges and Universities Legislative Building Queen’s Park Toronto, Ontario M7A 1A1
Dear Minister Moridi,
With a commitment to the accessibility of students to university programs of excellence in Ontario, the Board of Governors and the Senior Administration of the University of Guelph are asking for further action by the province in two key areas to ensure affordability of post-secondary education and to enhance the quality and sustainability of Ontario universities.
We urge you to continue to enhance provincial student assistance programs to help ensure accessibility and to ease the practical and emotional burden of pursuing a university education. The 30% Off Ontario Tuition Grant your government introduced is an excellent example of the kind of initiative needed to address this challenge, and we need to do more.
Access to world-class Ontario university programs affords a public benefit to Ontario taxpayersi as well as a private benefit to individual graduates. Researchii tells us that, among a wide range of factors that affect individual decisions to pursue a university education, financial considerations – including tuition costs and the risk of incurring significant personal debt – are important factors for students and their families.
ymw
GUELPH ▪ ONTARIO ▪ CANADA ▪ N1G 2W1 ▪ 519 824-4120 EXT. 56760 ▪ www.uoguelph.ca/secretariat
Business Arising Page 33 of 271 University tuition fees in Ontario are among the highest in the country. As already noted, we applaud your government’s existing student financial assistanceiii programs, which help mitigate the impact of tuition and other financial costs of university education. At the same time, we urge you to support further improvements to student financial assistance. Affordability continues to pose a challenge for some students – including University of Guelph students – whose financial burden associated with the costs of education is not addressed through provincial assistance programs.
Students are also increasingly concerned about the impact of incurring debt during their university education. Ontario students collectively owe $2.6 billion for OSAP loans alone – a 130-per-cent increase since 2005.2 Students tell us they struggle to meet post-secondary education costs that have increased so dramatically.
We urge you to further enhance basic operating grants for Ontario universities to preserve and further develop these institutions as a critical foundation for the province’s long-term social and economic success.
Along with continuing to improve provincial student assistance programs, we must also preserve and enhance the quality of Ontario’s educational institutions through appropriate levels of provincial operating funds. We recognize that the Province of Ontario faces its own financial challenges. However, Ontario’s social and economic health continues to benefit significantly from its universities, the strength and diversity of their educational and research programs, and the quality of their graduates. Reflecting both the public and private benefits of a university education, the province has developed an increasingly essential university sector by providing basic funding support for these institutions while expecting that an ever-increasing portion of the costs will be borne by university students and their families.
Students are increasingly concerned that restraints on basic provincial operating grants are forcing Ontario universities to become overly reliant on tuition as a revenue source. Not only are Ontario tuition rates among the highest in Canada, but Ontario universities
Business Arising Page 34 of 271 receive less revenue per student from tuition and operating grants than all provinces except Quebec.iv To sustain provincial investments in universities, the Ontario government must afford those institutions stable and sufficient operating funds. This is especially critical for Ontario universities to continue to provide world-class degree programs that keep pace with new knowledge and innovation in pedagogy and educational technologies. Even as universities make significant efforts to achieve efficiencies and control administrative costsv, the costs of maintaining high-quality, internationally competitive programs at Ontario universities are growing faster than revenues. At the very least, we urge the province to maintain existing funding levels for Ontario universities while it works to balance its budget, at which point we call on the province to reinvest in universities so that they may continue to provide quality, world- class research and education.
The University of Guelph struggles each year to make budget decisions, particularly those concerning tuition fees. We face a perennial challenge of maximizing revenue to preserve quality programming while minimizing costs for students, particularly those most concerned about personal financial impacts. We ask you to promote and implement measures to ensure the long-term educational quality and financial health of Ontario’s universities while ensuring financial accessibility for students, particularly those most susceptible to the effects of tuition fees and education- related debt.
Sincerely,
Franco J. Vaccarino President and Vice-Chancellor, University of Guelph
L21. A g_.U
Dick M. Freeborough Chair, Board of Governors, University of Guelph
Business Arising Page 35 of 271
Copy: Ms. Marie-Lison Fougère, Deputy Minister (Acting), Ministry of Training, Colleges and Universities
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i Council of Ontario Universities: “Change Agent: Ontario Universities: Transforming Communities, Transforming Lives”, February 2015. ii U of G’s Nov. 2004 Presidential Task Force on Accessibility iii Council of Ontario Universities: “Trends in Ontario government support for students – Background information discussed at the February 5, 2015 joint meeting of the Council of Chairs of Ontario Universities and Executive Heads”, February 19, 2015 iv Source: “Ontario Universities: Helping the Government to Build Ontario Up: 2015 Provincial Pre-Budget Submission”, p. 6. v Administrative costs as a percentage of operating costs have declined over the last eight years in Ontario universities declining from 5.1% to 4.6%. Source: “Ontario Universities: Helping the Government to Build Ontario Up: 2015 Provincial Pre-Budget Submission”, p. 6, 7. Data from the Council of Ontario Financial Officers (COFO). At the University of Guelph, administration represented 2.0% of institutional expenditures in 2013-14, the second lowest among Ontario universities. Source: Resource Planning and Analysis, University of Guelph
Business Arising Page 36 of 271 U_NIVEI§ ITYMGUE
Memorandum FROM THE OFFICE OF THE VICE-PRESIDENT (FINANCE, ADMINISTRATION & RISK)
To: Members, Finance Committee
From: Don O’Leary, VP (Finance, Administration & Risk)
Date: May 20, 2015
Subject: Comparative Analysis of University of Guelph Faculty Salaries & Student Tuition
At the April 26th, Board meeting when the 2015-16 MTCU operating budget was approved, Board members asked for additional information regarding how University of Guelph faculty salaries and student tuition compare to other Ontario Universities. Attached is comparative information:
Faculty Salaries – there are numerous faculty employment categories and numerous variables used to determine faculty salaries. Attached is University of Guelph salaries compared to the Ontario system. Guelph salaries are slightly higher than average due to the timing of collective agreement settlements. Faculty salaries increased 42% over a nine year period.
Student Tuition – attached is comparative information for undergraduate and graduate tuition in several academic programs. The information confirms the University of Guelph tuition is generally the average of the Ontario system.
Business Arising Page 37 of 271 Business Arising
Undergraduate Tuition Fees Differential 2014-15 Arts and Science - Entering Students - Domestic - Guelph Base -
$50 ) s $ (
h $0 p l e u G
-$50 o t
d
e -$100 r a p
m -$150 o C
l a i
t -$200 n e r e f
f -$250 i D
e
e -$300 F Page 38 of 271 -$350 Business Arising
Undergraduate Tuition Fees Differential 2014-15 Engineering - Entering Students - Domestic - Guelph Base -
$5,000 ) s $ (
h
p $4,000 l e u G
o $3,000 t
d e r
a $2,000 p m o C
l $1,000 a i t n e r $0 e f f i D
e -$1,000 e F Page 39 of 271 -$2,000 Business Arising
Undergraduate Tuition Fees Differential 2014-15 Business - Entering Students - Domestic - Guelph Base -
$18,000 ) s $ ( $16,000 h p l
e $14,000 u G $12,000 o t
d
e $10,000 r a
p $8,000 m o C
$6,000 l a i t $4,000 n e r e
f $2,000 f i D $0 e e F -$2,000 Page 40 of 271 -$4,000 Business Arising
Undergraduate Tuition Fees Differential 2014-15 Arts and Science - Entering Students - International - Guelph Base -
$18,000 ) s $ ( $16,000 h p l
e $14,000 u G $12,000 o t
d
e $10,000 r a
p $8,000 m o C
$6,000 l a i t $4,000 n e r e
f $2,000 f i D $0 e e F -$2,000 Page 41 of 271 -$4,000 Business Arising
Undergraduate Tuition Fees Differential 2014-15 Business - Entering Students - International - Guelph Base -
$20,000 ) s $ (
h p l e $15,000 u G
o t
d e r $10,000 a p m o C
l a
i $5,000 t n e r e f f i D
$0 e e F Page 42 of 271 -$5,000 Business Arising
Graduate Tuition Fees Differential 2014-15 M.Eng - Entering Students - Domestic - Guelph Base -
$6,000 ) s $ (
h p l $5,000 e u G
o t
d $4,000 e r a p
m $3,000 o C
l a i t n
e $2,000 r e f f i D
e $1,000 e F Page 43 of 271 $0 Business Arising
Graduate Tuition Fees Differential 2014-15 Ph.D. - Entering Students - Domestic - Guelph Base -
$2,000 ) s $ ( $1,500 h p l
e $1,000 u G
o
t $500
d e r $0 a p
m -$500 o C
l a
i -$1,000 t n e r -$1,500 e f f i D
-$2,000 e e F -$2,500 Page 44 of 271 -$3,000
Page 45 of 271 of 45 Page Business Arising Arising Business $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 $140,000 $80,000 $85,000 $90,000 $95,000 otoln o g,Gne,Rn,Dsiln n er nRn Profile Rank in Years and Discipline Rank, Gender, Age, for Controlling 050 060 070 080 091 001 011 021 2013-14 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 $97,322 $100,629 aut aayCmeiiees-AlRanks All - Competitiveness Salary Faculty $102,591 $106,334
$106,979 $111,211 Guelph $113,761 $116,216
$120,247 $120,148 System
$128,069 $126,233
$130,268 $128,195
$134,413 $131,383
$138,423 $135,495
Page 46 of 271 of 46 Page Business Arising Arising Business $100,000 $105,000 $110,000 $115,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $90,000 $95,000 050 060 070 080 091 001 011 021 2013-14 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 $79,308 aut aayCmeiiees-AssatProfessors Assistant - Competitiveness Salary Faculty $80,099 Profile Rank in Years and Discipline Gender, Age, for Controlling
$83,495 $83,964
$87,065 $87,833 Guelph
$92,646 $91,590
$97,078 $93,228
$102,517 System $98,541
$104,568 $101,255
$107,792 $104,182
$111,533 $108,381
Page 47 of 271 of 47 Page Business Arising Arising Business $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 $75,000 $80,000 $85,000 $90,000 $95,000 aut aayCmeiiees-AscaeProfessors Associate - Competitiveness Salary Faculty otoln o g,Gne,Dsiln n er nRn Profile Rank in Years and Discipline Gender, Age, for Controlling 050 060 070 080 091 001 011 021 2013-14 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 $98,585 $100,627
$100,651 $103,475
$104,144 $106,891 Guelph
$110,431 $111,536
$115,807 $114,583
$122,045 System $118,720
$125,051 $121,546
$130,606 $125,768
$134,298 $129,553
Page 48 of 271 of 48 Page Business Arising Arising Business $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 $140,000 $145,000 $150,000 $155,000 $160,000 $165,000 otoln o g,Gne,Dsiln n er nRn Profile Rank in Years and Discipline Gender, Age, for Controlling 050 060 070 080 091 001 011 021 2013-14 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 $114,135 aut aayCmeiiees-Fl Professors Full - Competitiveness Salary Faculty $121,328
$119,124 $126,528
$124,143
Guelph $132,610
$132,641 $139,178
$140,013 $143,827
System $148,004 $149,180
$151,343 $152,149
$157,000 $157,311
$161,907 $162,301 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 4. President’s Report
Meeting: Thursday, June 4, 2015
a) Status Report on University Activities
Dr. Vaccarino will provide an up-date on University activities.
b) Annual Report – Senate Committee on Quality Assurance
Enclosed in the on-line Supporting Materials folder is the “2013-14 SCQA Annual Report to Senate”. This report was presented to Senate by the Senate Committee on Quality Assurance (SCQA) for information on April 6, 2015 and was submitted subsequently to the provincial Quality Council. The Report is also posted publicly on the University of Guelph web site.
As required under the new quality assurances processes for the University, this report is also to be submitted to the Board of Governors for its information on an annual basis.
The main component of the SCQA Annual Report is a summary of the year’s quality review reports, and must include the following elements: • The general principles, guidelines, and methodology used by the committee in review of programs, departments and schools (this will be a summary of the Internal Review Committee process) • A status report on the reviews undertaken over the 2013-14 session • A summary of key outcomes of the reviews -- highlighting trends, issues, and recommendations • A list of quality reviews scheduled for 2014-15 • A schedule of the One Year Follow-up Reports
Further background concerning the University of Guelph’s institutional quality assurance process is provided with the on-line Supporting Materials for this meeting.
c) Faculty Appointments, Tenure and Promotions
Enclosed for the Board’s information is the most recent report on Faculty Appointments, Tenure and Promotions.
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Status Report on University Page 49 of 271 Activities Page 50 of 271 (For Information) BOARD OF GOVENORS REPORT OF THE PRESIDENT Faculty Appointments during the period of September 2014 –May 2015 FACULTY APPOINTMENTS
NAME DEPARTMENT DATE OF APPOINTMENT
ASSISTANT PROFESSOR/LIBRARIAN, PROBATIONARY APPOINTMENTS Stefan Keller Pathobiology February 17, 2015 Omar Ahmed School of Engineering January 1, 2015 Dave Snow Political Science July 1, 2015 Kimberley Wilson Family Relations and Applied Nutrition January 1, 2015 Jamie Burr Human Health & Nutritional Sciences August 17, 2015 Ryan Broll Sociology & Anthropology July 1, 2015 Kalinga Jagoda Management June 1, 2015 Jing Lu Management July 1, 2015 Kirby Calvert Geography July 1, 2015 Angela Canovas Animal & Poultry Science June 15, 2015 Christine Baes Animal & Poultry Science May 1, 2015 William Murray School of Hospitality, Food and Tourism July 1, 2015 Management
ASSOCIATE PROFESSOR, PROBATIONARY APPOINTMENTS Shane Bateman Clinical Studies December 1, 2014
ASSOCIATE PROFESSOR APPOINTMENTS Michael Rogers Food Science June 1, 2015
TENURED/CONTINUING APPOINTMENT - APPOINTMENTS James Fraser History January 1, 2015 Gisèle LaPointe Food Science January 1, 2015 Sandeep Mohapatra Food, Agricultural and Resource Economics January 1, 2016 Nikola Gradojevic Economics and Finance August 1, 2015 Barbara McDonald Library August 1, 2015 Robin Roth Geography July 1, 2015 WooMi Jo School of Hospitality, Food and Tourism August 1, 2015 Management
CONTRACTUALLY LIMITED APPOINTMENTS – ASSISTANT PROFESSOR/LIBRARIANS Hana Storova Library August 29, 2014 Lorna Deeth Mathematics & Statistics January 1, 2015 Kate Puddister Political Science July 1, 2015 Jeffrey Farber Food Science June 1, 2015
CONTRACTUALLY LIMITED APPOINTMENTS – VETERINARIANS Wendy Wideman Health Sciences Centre October 10, 2014 Whitney DeGroot Health Sciences Centre October 3, 2014
ADMINISTRATIVE APPOINTMENTS Malcolm Campbell Vice-President (Research) June 1, 2015 Charlotte Yates Vice-President (Academic) August 1, 2015 Jonathan Newman Dean, College of Biological Science August 1, 2015 Andrew Bailey Associate Dean (Research & Grad Studies) August 1, 2015 College of Arts Gwen Chapman Dean, College of Social & Applied Human February 1, 2016 Sciences Teresa Crease Associate Dean, Graduate Studies May 1, 2015
Faculty Appointments, Tenure Page 51 of 271 and Promotions BOARD OF GOVENORS REPORT OF THE PRESIDENT Faculty Appointments During the Period of September 2014 –May 2015
Julie Horrocks Chair, Mathematics & Statistics May 1, 2015 John Warland Interim Director, School of Environmental May 1, 2015 Science John Fryxell Chair, Integrative Biology May 11, 2015 Belinda Leach Acting Dean, College of Social & Applied August 1, 2015 (6mths) Human Sciences
ADJUNCT NEW APPOINTMENTS All appointments are for a 3 year term unless otherwise stated
NAME DEPARTMENT DATE OF APPOINTMENT
Ron Brecher School of Environmental Science September 1, 2014 Sylvie Cloutier Plant Agriculture May 1, 2015 Iulian Toma School of Languages & Literatures November 1, 2014 Ataharul Chowdhury School of Environmental Design & Rural September 1, 2014 Development Alexander Ferworn School of Computer Science November 13, 2014 Daniel Gillis School of Computer Science November 12, 2014 Edward Sykes School of Computer Science November 12, 2014 Hlomani Hlomani School of Computer Science November 12, 2014 Brian Huy Pham School of Computer Science November 12, 2014 Orfan Shouakar-Stash School of Engineering November 24, 2014 Peter Tremaine School of Engineering January 1, 2015 Elaine Shantz School of Hospitality, Food & Tourism January 1, 2015 Management Vitali Alexeev Economics & Finance January 1, 2015 Mike von Massow Food, Agricultural Resource Economics January 1, 2015 Kenneth McEwan Food, Agricultural Resource Economics January 1, 2015 Karen Shapiro Pathobiology January 1, 2015 Marina Brash Pathobiology January 1, 2015 Hugh Yuehau Cai Pathobiology January 1, 2015 E. Jane Parmley Pathobiology January 1, 2015 Margaret Jean Stalker Pathobiology January 1, 2015 Maria T. Spinato Pathobiology January 1, 2015 Durda Slavic Pathobiology January 1, 2015 Emily A. K. Martin Pathobiology January 1, 2015 Grant Maxie Pathobiology January 1, 2015 Paul Thomas Oesterle Pathobiology January 1, 2015 K. Kristiina Ruotsalo Pathobiology January 1, 2015 Paul Nicol School of Environmental Design & Rural February 1, 2015 Development Milena Corredig Food Science March 1, 2015 Raveendra Kulkarni Pathobiology January 1, 2015 John A. Cherry Geography May 1, 2015 Lisa Cox History May 1, 2015 Sherri Cox College of Biological Science (Integrative April 1, 2014 Biology) Arafat Al-Dweik School of Engineering April 1, 2015 John Denstedt Clinical Studies August 1, 2015 Gavin Humphreys Plant Agriculture May 1, 2015 Wendy Pearson Animal & Poultry Science September 1, 2014
Faculty Appointments, Tenure Page 52 of 271 and Promotions BOARD OF GOVENORS REPORT OF THE PRESIDENT Faculty Appointments During the Period of September 2014 –May 2015
Cheryl Quinton Animal & Poultry Science November 1, 2014 Devon Metcalf Pathobiology June 1, 2015
ADJUNCT RE-APPOINTMENTS Allyson Berent Clinical Studies September 29, 2014 Ariel Gomez Physics October 18, 2014 William Smith Mathematics & Statistics July 1, 2015 Hugh R. Whiteley School of Engineering November 24, 2014 John Francis Prescott Pathobiology May 1, 2015 Sanaa Ragaee Food Science September 1, 2015 Valerio Primomo Plant Agriculture September 1, 2014 Rishi Ram Burklakoti Plant Agriculture December 1, 2014 Lionel Goldstein Clinical Studies January 2, 2015 (2 yrs) Joseph Wolfer Clinical Studies January 2, 2015 (2 yrs) Michael Zigler Clinical Studies January 2, 2015 (2 yrs) Susan Armstrong-Reid History February 4, 2015 Rickey Yada School of Environmental Design & Rural October 1, 2014 Development Bronwynne Wilton School of Environmental Design & Rural December 1, 2014 Development Gladys Stephenson School of Environmental Sciences February 1, 2015 Development Ricardo Ramirez School of Environmental Sciences December 1, 2014 Development Douglas C. Hodgins Pathobiology January 1, 2015 Colin McKerlie Pathobiology January 9, 2015 John H. E. Nash Pathobiology January 1, 2015 Dragan Rogan Pathobiology January 1, 2015 Beverley J. E. McEwen Pathobiology January 1, 2015 Josepha Patricia DeLay Pathobiology January 1, 2015 Murray J. Hazlett Pathobiology January 1, 2015 Laima Kott Plant Agriculture January 1, 2015 Ljiljana (Lily) Tamburic-Ilincic Ridgetown Campus December 1, 2014 Sean Westerveld Plant Agriculture December 1, 2014 James Todd Plant Agriculture December 1, 2014 K. Helen Fisher Plant Agriculture December 1, 2014 John Kelly Plant Agriculture September 1, 2014 Duane E. Falk Plant Agriculture December 1, 2014 Victoria Edge Population Medicine January 30, 2015 Hugues Beaufrère Clinical Studies May 1, 2015 Van Thinh Nguyen School of Engineering April 1, 2015 Gordon Mitchell Pathobiology March 1, 2015 Jayne Bock Food Science October 1, 2014 Daniel Leeming School of Environmental Design & Rural April 1, 2015 Development Derek Muir School of Environmental Sciences May 1, 2015 Benjamin Wood Animal & Poultry Science December 1, 2016 Anna Kate Shoveller Animal & Poultry Science October 1, 2014 Toktam Taghavi Plant Agriculture November 1, 2015 Hamdy Khalil Plant Agriculture November 1, 2014 Eid Mohamed History June 30, 2015 Last updated May 26, 2015
Faculty Appointments, Tenure Page 53 of 271 and Promotions Page 54 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 5. Pensions Committee Report
Meeting: Thursday, June 4, 2015
a) Report from Committee Chair
The following is provided for the information of Governors.
At its meeting on February 26, 2015, the Pensions Committee:
• Completed the second part of its annual Committee Orientation, with a focus on investment management and the related oversight of the University’s pension assets • Received an update on current issues in pension-related legislation and public policy developments and related university advocacy • Approved the Audited Pension Plan Statements [see approved statements online, at: https://www.uoguelph.ca/finance/report/pension-plan-statements] • Received an update on the administrative costs to pension plans • Received an update on activities of the Investment Subcommittee, including a review of the investment performance reports (pensions) for December 31, 2014 • Received an update on the planned Asset/Liability Review to be performed for the University’s Pension Plans • Received a reminder regarding the 2014-15 Committee evaluation survey • Received an update regarding the election of Pension Plan Representatives to the Committee • Received an update regarding pension plan restatements, and pension communications
At its meeting on May 21, 2015, the Committee:
• Received an update on current issues in pension-related legislation and public policy developments and related university advocacy • Received an update on the planned Asset/Liability Review to be performed for the University’s Pension Plans [see on-line supporting materials] • Considered the proposed text amendments to Pension Plans arising from Collective Agreements [see item 5b] • Received an update on activities of the Investment Subcommittee, including a review of the investment performance reports (pensions) for March 31, 2015 [see on-line supporting materials] • Reviewed the Statement of Investment Policy & Procedures (SIP&P) [see item 5c] • Received and discussed results of the Committee’s 2014 - 2015 evaluation survey
Report from Committee Chair Page 55 of 271 • Approved the restatements of plan texts for the Professional, Retirement and Non- Professional Pension Plans [see on-line supporting materials] • Received and discussed the year-end affirmation report (including compliance with SIP&P and annual monitoring activities described in the Committee’s terms of reference) • Received an update on plans for a scheduled review of the custodial trustee • Reviewed the Committee terms of reference and considered agenda planning for 2015- 16
The current membership of the Pensions Committee is as follows:
Governors: Plan/Retiree Representatives:
Paul Gallagher, Chair Robin Davidson-Arnott (Retiree Representative) Nancy Croitoru Kelly Bertrand (Professional Pension Plan Representative) Earl Ellis Kelly Meckling (Professional Pension Plan Representative) Andrew Marsh Julie Hutchins (Retirement Pension Plan Representative) Neil Parkinson Ian Renaud (Retirement Pension Plan Representative) Dick Freeborough Franco Vaccarino
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Report from Committee Chair Page 56 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 5. Pensions Committee Report
Meeting: Thursday, June 4, 2015
b) Proposed Text Amendments to Pension Plans Arising from Collective Agreements (CUPE 1334, CUPE 1334 Unit 1, CUPE 3913 Unit 2, Exempt Group, P&M, USW)
The Pensions Committee is responsible for advising the Board of Governors on text amendments to University pension plans that result from agreements negotiated and ratified with employee groups.
At its meeting May 21, 2015 the Committee considered changes proposed for both the Professional and Retirement Pension Plan texts, affecting members from the following employee groups:
• CUPE 1334 • CUPE 1334 Unit 1 • CUPE 3913 Unit 2 • Exempt Group • Professional Staff Association • USW 4120
The Pensions Committee recommends approval by the Board of Governors of the proposed changes as described in the detailed motion in the online Supporting Materials folder. An overview of the plan text changes, prepared by the plan actuary (Towers Watson) is enclosed.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the proposed resolutions concerning amendments to the text of the Professional Pension Plan and the Retirement Pension Plan, as presented.
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Proposed Text Amendments to Page 57 of 271 Pension Plans Arising from Page 58 of 271 Pension Plans Arising from Proposed TextAmendments to
University of Guelph Pension Plans Plan Amendments (CUPE 1334, CUPE 1334 Unit 1, CUPE 3913 Unit 2, Exempt Group, P&M, USW) Page 59 of271 May 21, 2015 Pensions Committee Meeting
Julie Belair and David Kenny
© 2015 Towers Watson. All rights reserved. Pension Plans Arising from Proposed TextAmendments to
Overview
Purpose is to present plan amendmentsresulting from negotiated pension changes affecting member contribution requirements
Details summarized in following pages
Changes to Retirement Plan affecting
CUPE 1334 (trades, maintenance and service worker employees) – ratified Oct. 16/13
CUPE 1334 Unit 1 (part-time stack maintenance employees in the library) – ratified Feb. 5/14
CUPE 3913 Unit 2 (sessional lecturers) – ratified Feb. 5/14
Exempt Group (administrative employeesemployed in a confidential capacity not otherwise included in USW 4120 or OSSTF) – ratified Dec. 3/14
USW (United Steelworkers Union Local 4120) – ratified Sep. 24/14
Changes to Professional Plan affecting Page 60 of271 P&M (Professional Staff Association - Professional & Managerial employees) – ratified Mar. 13/15
Amendments to be filed with FSCO and CRA once formally adopted by University
towerswatson.com © 2015 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. 2 Pension Plans Arising from Proposed TextAmendments to
Changes to Retirement Plan
Article 5 (Member Contributions)
Section 5.01 amended to reflect the following contribution changes
Below/Above YMPE Current New Effective Date CUPE 1334 7.60%/9.90% 8.10%/10.40% May 1, 2015 CUPE 1334 Unit 1 6.55%/8.25% 7.05%/8.75% May 1, 2015 CUPE 3913 Unit 2 6.55%/8.25% 7.05%/8.75% Sep. 1, 2015 Exempt Group 6.91%/8.25% 7.41%/8.75% May 1, 2015 USW 7.00%/8.50% 7.25%/8.75% May 1, 2015 Page 61 of271
towerswatson.com © 2015 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. 3 Pension Plans Arising from Proposed TextAmendments to
Changes to Professional Plan
Article 5 (Member Contributions)
Section 5.01 amended to reflect contribution changes
Below/Above YMPE Current New Effective Date P&M 7.30%/9.00% 7.44%/9.14% May 1, 2015 Page 62 of271
towerswatson.com © 2015 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. 4 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms To: Members, Board of Governors Invmxovme Lxra
From: Vicki Hodgkinson, University Secretary
Subject: 5. Pensions Committee Report
Meeting: Thursday, June 4, 2015
c) Annual Review of Statement of Investment Policies and Procedures (SIP&P)
At its meeting May 21, 2015 the Pensions Committee considered amendments to the Statement of Investment Policies & Procedures (SIP&P). The amendments are considered relatively minor with most reflecting amendments to align the policy document with current benchmark indices and manager mandate constraints. The amendments were also endorsed by the Investment Subcommittee at its meeting May 14, 2015.
Enclosed is the annotated SIP&P, with proposed amendments indicated throughout.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve amendments to the Statement of Investment Policies and Procedures for the University’s pension plans, as presented.
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Annual Review of Statement of Page 63 of 271 Investment Policies and Page 64 of 271
UNIVERSITY OF GUELPH
Pension Plans
Statement of Investment Policies and Procedures
It is hereby certified by the undersigned that this Statement of Investment Policies and Procedures was adopted by the Board of Governors on:
TBDJune 5-, 20154
John Miles (Name)
Associateistant Vice-President Finance
(Title)
June 2013
Annual Review of Statement of Page 65 of 271 Investment Policies and University of Guelph Pension Plans Statement of Investment Policies and Procedures Page 1
Contents
I. INTRODUCTION ...... 2
II. ADMINISTRATION ...... 2
III. RESPONSIBILITIES AND PROCEDURES ...... 4
IV. EXTERNAL TO THE BOARD AND INVESTMENT COMMITTEES ...... 7
V. PERMITTED CATEGORIES OF INVESTMENT ...... 9
VI. ASSET ALLOCATION POLICY AND RETURN OBJECTIVES ...... 12
VII. PORTFOLIO DIVERSIFICATION AND CONSTRAINTS ...... 14
VIII. LENDING AND BORROWING OF CASH AND SECURITIES ...... 18
IX. VOTING RIGHTS ...... 19
X. VALUATION OF INVESTMENTS ...... 19
XI. RELATED PARTIES AND CONFLICTS OF INTEREST ...... 20
XII. MONITORING INVESTMENT PERFORMANCE ...... 22
XIII. POLICY REVIEW ...... 23
XIV. APPENDIX A PLAN OVERVIEWS ...... 24
A: PENSION PLAN FOR PROFESSIONAL STAFF OF UNIVERSITY OF GUELPH ...... 24 B: PLAN OVERVIEW FOR PENSION PLAN FOR NON-PROFESSIONAL STAFF OF UNIVERSITY OF GUELPH ...... 25 C: PLAN OVERVIEW FOR RETIREMENT PLAN OF UNIVERSITY OF GUELPH ...... 26
2014
Annual Review of Statement of Page 66 of 271 Investment Policies and University of Guelph Pension Plans Statement of Investment Policies and Procedures Page 2
I. INTRODUCTION
1.1 This document constitutes the Statement of Investment Policies and Procedures (the “Policy”) applicable to the assets (the “Fund”) in respect of the following pension plans (the “Plans”) sponsored by the University of Guelph (the “University”):
− Pension Plan for Professional Staff of University of Guelph
− Pension Plan for Non-Professional Staff of University of Guelph
− Retirement Plan of University of Guelph
The assets of the three Plans are invested in common trusts and the three Plans may hold assets directly.
1.2 The purpose of this Policy is to formulate those investment principles, guidelines and monitoring procedures which are appropriate to the needs and objectives of the Fund, in a manner conforming to the applicable pension legislation as contained in the Ontario Pension Benefits Act and the regulations hereto (the “Act”). This Policy is supplementary to the rules contained in the Act.
1.3 All investment and other operations of the Fund shall be governed by the Act.
1.4 Any investment managers (the “Manager(s)”) or other party providing services in connection with the investment of the Fund shall accept and adhere to this Policy.
II. ADMINISTRATION
2.1 The University through its Board of Governors (the "Board") is the administrator of the Plans in accordance with the Act. The Board has established a governance structure and delegated to the Pensions Committee of the Board (the "Board Committee") certain aspects of the Fund's operations as described in Section III.
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2.2 In fulfilling its responsibilities, the Board Committee may delegate to or otherwise utilize employees of the University or committees such as the Investment Subcommittee (the “ISS”) and the Office of Investment Management (“OIM”) where appropriate. The Board Committee shall retain responsibility and utilize suitable personnel for such activities and monitor the activities undertaken by the selected personnel.
2.3 The custodian of the Fund (the “Custodial Trustee”) shall be a trust company duly registered in Canada or an insurance company authorized to underwrite life insurance in Canada. All investments and assets of the Fund shall be held by the Custodial Trustee and invested:
(a) in a name that clearly indicates that the investment is held in trust for the Plans and, where the investment is capable of being registered, registered in that name, or
(b) in the name of the Custodial Trustee, or a nominee thereof, in accordance with an agreement with the Custodial Trustee that clearly indicates that the investment is held for the Plans, or
(c) in the name of The Canadian Depository for Securities Limited, or a nominee thereof, in accordance with an agreement with the Custodial Trustee that clearly indicates that the investment is held for the Plans.
2.4 The Board Committee may rely on independent experts for certain aspects of the Fund's operations where expert knowledge is required or desired or where a potential or actual conflict of interest exists.
2.5 The Plans’ financial statements shall be audited by an independent auditor at least annually.
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III. RESPONSIBILITIES AND PROCEDURES
3.1 Board of Governors 3.1.1 As administrator and sponsor of the Plan, the Board has responsibility for all aspects of the Fund’s operations. To fulfill their responsibility in the most prudent and appropriate manner, the Board has delegated to the Board Committee as specified below.
3.1.2 The Board Committee, as delegated in its capacity as the employer, shall be responsible for:
(a) appointing and/or replacing the actuary;
(b) reviewing and approving the actuary’s report and other reports that might be required of the actuary;
(c) reviewing any recommendations for changes to the funding of the Plans;
(d) reviewing any recommendations for changes to the text of the Plans;
(e) recommending to the Board any changes or amendments to the Plans; and
(f) reporting to the Board on its activities on at least an annual basis.
3.1.3 The Board Committee, as delegated in its capacity as the administrator, shall be responsible for:
(a) approving the Policy on an annual basis;
(b) approving the auditor’s report on the Fund;
(c) appoint and monitor the performance of the Custodial Trustee of the Plans;
(d) reviewing and confirming or amending delegated responsibilities on an annual basis;
(f) monitoring the IS;
(g) assuming all or part of the responsibilities of the IS in the event that it becomes dysfunctional for any reason or if it appears that it can no longer fulfill its responsibilities; and
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(h) when it deems it necessary or when requested, reporting to the Board on the administration, supervision and control of the Plans and the Fund.
3.2 Duties of the Staff Members
3.2.1 Duties of the staff members are as follows:
(a) overseeing the administration of the Plan, including but not limited to Plan amendments;
(b) overseeing the cash management of the Plan with a view to ensuring that sufficient cash will be available for the payment of the benefits;
(c) advising plan members of any changes to the Plan that may affect the members including retirees;
(d) ensuring that financial statements are prepared and audited on an annual basis;
(e) ensuring that actuarial valuations are prepared within the required frequency and approve the valuations; and
(f) ensuring that all regulatory documents are filed on a timely basis.
3.3 Duties of the OIM
3.3.1 Duties of the OIM are as follows:
(a) oversee the Managers;
(b) monitor third party service providers;
(c) report to the IS on investment performance;
(d) conduct periodic asset/liability studies;
(e) implement the policy allocation as outlined in Section 6.2;
(f) advise the Board Committee of any significant changes to the Plans, the Fund or the IS as they arise; and
(g) work in close collaboration with the IS and implement strategies and recommendations.
3.3.2 In fulfilling their responsibilities, staff and the OIM may delegate activities relating to the responsibilities listed in 3.2.1 and 3.3.1 to external experts. Notwithstanding
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this delegation, staff and the OIM shall remain responsible for, and shall be required to approve work done by others. In this regard, staff and the OIM are expected to delegate the activities only to suitable delegates, and review the work before approval.
3.3.3 The OIM shall maintain a description of the manager structure and keep a current copy of each Manager’s investment mandate (the “Mandate”).
3.4 IS
3.4.1 The IS shall have the responsibility to:
(a) Review and if necessary recommend changes in the Policy to the Board Committee and monitor the Plans and Fund characteristics that relate to the Policy on an annual basis;
(b) select, appoint and replace when deemed necessary the external experts for the Fund including but not limited to: external investment managers and the independent measurement service;
(c) monitor the external experts to the Fund in respect of their continuing suitability and performance;
(d) monitor the investment performance and financial position of the Fund, as described in Section XII; and
(e) report to the Board Committee on its activities at least annually.
3.4.2 In fulfilling its responsibilities, the IS may delegate any activities relating to the responsibilities listed in 3.4.1 to the OIM, other staff members or to external experts. Notwithstanding this delegation, the IS shall remain responsible for, and shall be required to approve, work done by others. In this regard, the IS is expected to delegate the activities only to suitable delegates, and review the work and the process undertaken to complete the work before approval.
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3.4.3 The IS will normally meet quarterly for the purpose of monitoring the Fund. Special meetings shall be called as required.
3.4.4 Where the IS desires to invest in segregated funds of an insurance company, pooled funds or mutual funds eligible for pension fund investment (“Pooled Funds”), the IS must satisfy itself that the investment policy of such Pooled Fund is consistent with this Policy.
3.4.5 The IS shall retain one or more independent professional investment managers (the “Manager(s)”) to invest the Fund.
IV. EXTERNAL TO THE BOARD AND INVESTMENT COMMITTEES
4.1 External investment managers
The External Investment managers shall be responsible to:
(a) invest assets of the Fund, through the Custodial Trustee, in accordance with individual mandates pursuant to an agreement between that Manager and the University;
(b) report to the OIM on a quarterly basis and in writing in respect of: their performance for the quarter, the investment holdings and transactions, the intended strategy for the following quarter, deviation from the intended strategy for the preceding quarter and compliance with the mandate and contract;
(c) provide to the OIM upon request, or at least on an annual basis, their policies and procedures relating to voting rights on securities, directed commissions, professional standards, conflicts of interest and internal controls;
(d) advise the OIM on an ongoing basis of any changes in the organization, personnel or investment process;
(e) attend meetings of the IS when requested;
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(f) be available for meetings or discussions with the IS on a reasonable basis; and
(g) permit a tour of their premises and a review of their internal control systems by a designated delegate of the IS as requested.
4.2 The independent custodial trustee
The custodial trustee shall be responsible to:
(a) act under the terms of the trust agreement;
(b) administer the Fund and hold Fund assets; and
(c) provide record keeping services as required.
4.3 External Auditor
4.3.1 The external auditor shall be responsible to perform the audit as required under the Ontario Pension Benefits Act.
4.4 Measurement Service
4.4.1 The independent measurement service shall be responsible to:
(a) evaluate, prepare and deliver a report on the Fund and Managers’ performance quarterly to the OIM; and
(b) advise the OIM of issues relating to the performance of the Fund and the Managers as they arise.
4.5 External Actuary
4.5.1 The external actuary shall be responsible to prepare actuarial valuations within the frequency required under the Act and deliver them to the University.
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4.6 Others
4.6.1 Independent Advisors, Lawyers and Consultants, and other experts in pension- related matters shall provide services on an as required basis.
V. PERMITTED CATEGORIES OF INVESTMENT
5.1 Asset Categories
From time to time, and subject to this Policy, the Fund may invest in any or all of the following asset categories and subcategories of investments either directly or through pooled funds which hold only these investments, subject to sections 5.4 and 5.5. For purposes of this Policy, "governments" includes supranational, Canadian federal, provincial or municipal governments, sovereign issuers and securities guaranteed by these governments.
(a) Canadian and Foreign Equities: common shares, convertible debentures, share purchase warrants, share purchase rights, preferred shares, depositary receipts, interests in limited partnerships, and units of real estate investment trusts (REITS) and income trusts that have limited liability protection by statute.
(b) Real Estate: real property, whether held directly or through open or closed-end pooled funds, participating debentures, shares of corporations or limited partnerships formed for pension funds to invest in real estate.
(c) Infrastructure: tangible assets, whether held directly or through open or closed-end pooled funds, participating debentures, shares of corporations or limited partnerships primarily engaged in or having long term economic interest in tangible assets that provide key services to an economy and that are expected to provide long-term stable cash flows, including but not necessarily limited to: transportation, telecom, communication, utilities, social services, and business related to those sectors.
(d) Fixed Income:
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. bonds, debentures, mortgages, notes, real return bonds, asset-backed securities or other debt instruments of governments or corporations (public and private) including foreign issuers and foreign pay bonds;
. guaranteed investment contracts or equivalent financial instruments of Canadian insurance companies, trust companies, banks or other eligible issuers, or funds which invest primarily in such instruments;
. annuities, deposit administration contracts or other similar instruments regulated by the Insurance Companies Act (Canada) or comparable provincial law, as amended from time to time;
. term deposits or similar instruments of Canadian trust companies and banks;
. hybrid debt instruments issued by financial institutions.
(e) Cash or Cash Equivalents:
. cash;
. money market securities issued by governments or Canadian corporations (public and private) with term to maturity of one year or less;
. deposits with Canadian Trust companies or banks
5.2 Derivatives
Any use of derivative investments must be in accordance with a program that has been specifically considered and approved by the IS whether done directly in the Fund or in a Pooled Fund. Derivative instruments may not be used to create exposures to securities which would not otherwise be permitted under this Policy or which would be outside the limits under this Policy had the exposure been obtained in the cash markets through direct investment.
Derivative instruments may be used only to:
(a) Replicate the investment performance of permitted direct investments;
(b) Increase the Fund’s current revenue by selling covered calls; or
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(c) Reduce risk as part of a hedging strategy.
With the exception of currency hedging, in no event may derivatives be used to leverage the Fund, nor may the aggregate net notional value of all derivative instruments exceed 30% of the market value of the Fund unless approved by the IS. In the case of currency hedging, except for temporary deviations related to short-term market movements, in no event may the exposure to any currency exceed the net foreign assets denominated in that currency.
Any Manager investing in derivative investments must determine the market value of that Manager’s exposures on a daily basis.
The following derivative instruments are permitted:
5.2.1. Futures and options may be used only when they are regularly traded on recognized public exchanges or other organized public trading facilities where market prices are readily available.
5.2.2. Forward contracts, structured notes and swap agreements may be entered into only with financial institutions that satisfy the credit standards of the Policy with respect to cash equivalents and fixed income investments.
5.3. Other Investments:
The Fund may invest in venture capital and natural resource properties or participation rights, whether purchased directly, or through closed or open end pooled funds, or through participating debentures or shares of corporations or limited partnerships formed to invest in such properties subject to the Act.
Pooled Funds eligible for pension fund investment are permitted, provided they invest only in the instruments or assets permitted in this Section.
The Fund shall not, directly or indirectly, be invested in securities of a listed person as defined by the United Nations Suppression of Terrorism Regulations, or loaned to or used for the benefit of such a person.
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VI. ASSET ALLOCATION POLICY AND RETURN OBJECTIVES
Asset Allocation
6.1 The policy asset allocation reflects a balance of investments in bonds, which are sensitive to interest rates, and equities, which are expected to provide both higher returns and inflation-sensitive returns over the long term. Consideration was given to the Plan Overview outlined in Appendices A, B, C, and
(a) the long-term nature of the liabilities,
(b) the University’s ability to absorb cost fluctuations and the sensitivity in University costs to changes in interest rates and inflation,
(c) the going-concern and solvency financial positions of the Plans including their sensitivity to changes in interest rates and inflation.
6.2 The policy allocation and ranges for the Fund have been determined as set out below. Over complete market cycles the allocation is expected to approximate the “Target Weight”.
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6.3
Percentage of Fund at Market Values Interim Final Component Asset Target Target Permitted Classes Benchmark Index Weight1 Weight Range
Low High Canadian Equities S&P/TSX Composite 25% 20% 15% 35% U.S. Equities S&P 500 ($Cdn) 20% 20% 15% 25% International Equities MSCI EAFE Net ($Cdn) 20% 20% 15% 25%
Total Equities 65% 60% 55% 75%
Real Estate and To Be Determined IPD Infrastructure Canada Total Return* 5% 10% 0% 20%
DEXFTSE TMX Canada Fixed Income Universe Bond 28% 28% 23% 38% Cash & Cash DEX FTSE TMX Canada Equivalents 91 Day T-Bill 2% 2% 0% 15%
Total Fixed Income and Cash 30% 30% 25% 40%
*This is the current benchmark for real estate investments in the Fund.
6.4 The total fund benchmark is based on a blend of the individual underlying asset class indices in their proportions represented in the Target Weight.
6.5 Cash and cash equivalents may also be held from time to time on a short-term, temporary basis or as defensive reserves within the portfolios for each asset class at the discretion of each Manager within the constraints prescribed by its Mandate.
6.6 IS has implemented a policy to hedge 50% of the foreign currency exposure reflected within the various equity mandates.
1 The Interim Target Weight is expected to gradually shift towards the Final Target Weight as the transfer of of funds to real estate and infrastructure assets are approved by IS. At any point prior to implementation of the Final Target Weight the actual Target Weight will be between the Interim and the Final Target Weights. Once the Target Weights for both of these asset classes is achieved, the Final Target Weight will become the benchmark.
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6.7 If the asset mix deviates outside the above ranges, at the end of any quarter, the OIM shall take corrective action to bring the asset mix back within the range as soon as practicable.
Return Objectives and Risk Expectation
6.8 The objective of the Fund is to achieve a long-term (five to ten-year period) total rate of return at least equal to the going concern discount rate (currently 6.05%). It is recognized that, in any one period, the total return may be significantly above or below 6.05%
6.9 In order to achieve the long-term return objective, the Fund is targeting to achieve over moving four-year periods a return, net of all brokerage expenses but before all other fees, at least equal to a composite index made of passive investments in appropriate market indices, according to the normal allocation defined in section 6.2.
6.10 The risk inherent in the investment strategy over a market cycle (a five to ten year period) is three fold. There is a risk that the market returns will not be in line with expectations. To the degree that an active management style is employed, there is a risk that the added return expected of active management over passive management will not be realized, or will be negative. There is also the risk of annual volatility in returns which means that in any one year the actual return may be very different from the expected return (such return may also be negative).
VII. PORTFOLIO DIVERSIFICATION AND CONSTRAINTS
7.1 The IS shall ensure that the diversification requirements in each Manager’s Mandate, in combination with the amount of assets allocated to each Manager, are consistent with the limits outlined in this Section based on the market value of the Fund.
7.2 Further constraints are documented in the Act. For greater certainty, in respect of the total Fund and pursuant to the rules in the Act:
(a) No more than 10% of the book value of the assets shall be invested in any one entity or group.
(b) The Fund shall not acquire securities of a corporation to which are attached more than 30% of the voting rights of any corporation.
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7.3 In respect of the equity portfolio of the Fund:
(a) North American holdings shall be diversified by company, capitalization and industry, having regard to the relative sizes of industry sectors in the applicable stock market indices.
(b) Non-North American holdings shall be diversified by company, region, industry and country, having regard to the relative sizes of economic activity and stock market capitalization.
(c) Not more than 20% of each of the North American and of the non-North American equity portfolios shall be (in aggregate) invested in stocks having market capitalization, including closely held shares, below $1 billion.
(d) Not more than 10% of the market value of the total equity portfolio shall be invested in any one entity.
(e) In respect of any Canadian income trusts and real estate investment trusts, such trusts:
(i) Must be reporting issuers under the applicable securities legislation in Canada; and
(ii) Must be governed by the laws of a province that limits the liabilities of unit holders by statute.
(f) Any interest in a partnership must be as a limited partner and not as a general partner.
7.4 In respect of fixed income:
(a) Debt rated below “BBB (low)” shall not exceed 15% of the fixed income portfolio.
(b) Not more than 20% of the fixed income portfolio shall be held in debt issues rated below “A (low)”.
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(c) Not more than 10% of the fixed income portfolio shall be held in debt issues of any one issuer, except for securities of or fully guaranteed by the Government of Canada or a province of Canada having at least an “A” credit rating.
(d) Unrated private placements may only be purchased if the most recent issue of the borrower or guarantor (if applicable) is rated “A” or better.
(e) Mortgages shall be restricted to first mortgages and/or mortgages secured under the National Housing Act (N.H.A.).
(f) Securities with a mandatory conversion provision (hybrid debt) shall be rated “BBB” or higher, and be limited to 10% of the fixed income portfolio and to 2% in any single issuer.
7.5 In respect of the Real Estate portfolio of the Fund or any Pooled Fund (excluding mortgage investments):
(a) Properties shall be diversified by location, type of use and tenants.
(b) Not more than 2010% of the Real Estate portfolio shall be invested in non-income producing property.
(c) Not more than 105% of the Real Estate portfolioFund may be invested in any one property
7.6 In respect of the infrastructure portfolio of the Fund:
(a) Investments shall be diversified by region and sector.
(b) Investments shall be made to infrastructure funds whose assets are expected to have the following characteristics:
(i) Provide essential services to the community;
(ii) Have monopolistic characteristics;
(iii) Have sustainable and predictable cash flows; and
(iv) Target investments primarily in assets and businesses with comparatively lower exposure to economic cycles, providing essential services under predictable regulatory regimes and/or through long-term contracts with the public sector,
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creditworthy entities or a broad base of end-users, allowing for visibility of revenues, operating costs and capital expenditure requirements.
7.7 All cash equivalents, including those held within the portfolios for each asset class at the discretion of the Manager, shall have a minimum credit rating of "R-1 (low)" or equivalent.
7.8 Securities of unrated issuers will be assumed to fail all of the credit ratings referred to in this section.
7.9 For purposes of this section, all debt rating requirements shall be met by a minimum of two Nationally Recognized Statistical Rating Organizations (NRSRO) as defined by the Securities and Exchange Commission.
7.10 If a security’s credit rating falls below the required level after time of purchase, the Manager shall advise the IS immediately in writing and recommend a course of action for the IS’s approval.
7.11 Each Manager shall be responsible for choosing brokers to execute investment transactions in the most effective manner and in the best interest of the Fund.
7.12 It is necessary to maintain a regular flow of investment income and to hold an appropriate portion of the Fund in highly liquid investments to ensure adequate liquidity.
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VIII. LENDING AND BORROWING OF CASH AND SECURITIES
8.1 Borrowing of Cash and Securities
(a) Money shall not be borrowed on behalf of the Fund and the Fund’s assets shall not be pledged or otherwise encumbered in respect thereof, except:
(i) for the payment of refunds, benefits or administration costs of the Plans to the extent that such borrowing is limited to the amount of the current service contribution in any fiscal year of the Plans and that the term of the borrowing does not exceed 90 days;
(ii) for and to the extent of temporary overdrafts that occur in the course of normal day-to-day portfolio management.
8.2 Lending Securities
(a) Permitted Circumstances: The IS may lend the securities of the Fund as a means of generating incremental income or cash for investment or otherwise supporting an investment strategy. Such loans shall be in writing. When the IS lends securities of the fund, the document shall provide for the IS’s right to recall the loaned securities.
(b) Use of Agents : Management may delegate, through the University’s custodial trustee, to a lending agent the authority to select borrowers, negotiate terms and rates and invest cash or securities collateral under written procedures which specify securities available for loan, pre-approved borrowers, loan terms, and instruments for the investment of collateral as well as administrative, risk management and reporting arrangements.
(c) Collateral and Margin Requirements: When the IS lends securities of the Fund as a means of generating incremental income or cash for investment, the following rules shall apply. The IS or its lending agent shall receive from the borrower collateral equal to no less than 105% of the market value of the securities loaned at the time of the transaction. The amount of collateral margin taken shall reflect best practices in local markets. Both loaned and collateral securities must be marked to market daily to account for increases in the market
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value of the securities loaned or decreases in the market value of the collateral. Shortfalls in the amount of collateral must be rectified by the following business day unless otherwise agreed to in writing. The collateral obtained to secure a loan of securities or any securities purchased with such collateral must be either cash or high quality, readily marketable securities acceptable as a direct investment under the IS’s investment policies. Title to all collateral must be clear.
IX. VOTING RIGHTS
9.1 The responsibility of exercising and directing voting rights acquired through Fund investments shall normally be delegated to the Manager, who shall at all times act prudently and in the best interests of the Fund’s beneficiaries. The Manager shall provide the OIM with its proxy voting guidelines and notify the OIM of any changes to these guidelines.
9.2 The Manager shall maintain a record of how Fund voting rights have been exercised and provide the OIM with quarterly proxy voting results.
9.3 In case of doubt as to the best interests of the Plans’ beneficiaries, the Manager shall request instructions from the OIM and act in accordance with such instructions.
9.4 The OIM reserves the right to direct, or override, the voting decisions of a Manager, if in its view such action is in the best interests of the Plans’ beneficiaries, except for investments held in a Pooled Fund.
9.5 It is recognized, however, that the above constraints and policy on voting rights may not be enforceable to the extent that part of the Fund is invested in Pooled Funds.
X. VALUATION OF INVESTMENTS
10.1 Investment in publicly traded securities shall be valued by the Custodial Trustee for the Fund no less frequently than monthly at their market value.
10.2 Investment in Pooled Funds comprising publicly traded securities shall be valued according to the unit values calculated at least monthly by the custodial trustee of the
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Pooled Funds. The Custodial Trustee shall be responsible for requesting and recording the unit values on a monthly basis.
10.3 Where a security or asset is publicly traded but not frequently, the Plan’s Custodial Trustee will determine the appropriate market value of the particular security or asset and, in the event of a conflict, the value that the Custodial Trustee has determined will be deemed as correct.
10.4 If a market valuation of an investment is not readily available, then a fair value shall be determined by or at the discretion of the OIM. For each such investment, an estimate of fair value shall be supplied by the Custodial Trustee with input from the Investment Manager no less frequently than quarterly. Such fair value may be determined by reference to the most recent independent expert appraisal or by other means such as risk- adjusted discounted cash flows or comparison with similar assets which are publicly traded. In all cases the methodology should be applied consistently over time.
XI. RELATED PARTIES AND CONFLICTS OF INTEREST
11.1 Definition of Related Party
For the purposes of this Policy, a Related Party means:
(a) the University;
(b) the Board;
(c) a member of the Board Committee or IS;
(d) an officer, director or employee of the University;
(e) a person responsible for investing the assets of the Plans, or any officer, director or employee thereof;
(f) an association or union representing employees of the University, or an officer or employee thereof;
(g) a member of one of the Plans;
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(h) the spouse or a child of any person referred to in any of paragraphs (b) to (f);
(i) an affiliate of the University;
(j) a corporation that is directly or indirectly controlled by a person referred to in any of paragraphs (a) to (h);
(k) an entity in which a person referred to in paragraph (a), (b) or (c), or the spouse or a child of such a person, has a substantial investment.
11.2 Related Party Transactions
(a) The assets of the Fund shall not be used to invest in securities of Related Parties or lent to any Related Parties unless such securities are publicly traded and selected by a Manager acting independently on behalf of all that Manager’s discretionary accounts or Pooled Funds having mandates similar to that of the Fund. Where applicable, a Manager shall provide the OIM with its internal guidelines on purchasing securities of the members of the Manager’s organization or affiliates.
(b) Notwithstanding paragraph (a), the assets of the Fund shall not be invested in any securities of the University or an affiliate of the University unless such securities are publicly traded, held within a Pooled Fund, and selected by a Manager acting independently.
(c) Any other transactions with a Related Party must be required for the operation or administration of the Plans and be on terms and conditions that are not less favourable to the Plans than the then market terms and conditions.
11.3 Conflicts of Interest
(a) If a member of the Board or Board Committee, or any agent of or advisor to the Board or Board Committee, or any person employed in the investment or administration of the Fund has or acquires any material interest, direct or indirect, in any matter in which the Fund is concerned or may benefit materially from knowledge of, participation in, or by virtue of an investment decision or holding of the Fund, the person involved shall within three business days after the individual becomes aware
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of the conflict of interest disclose in writing this conflict of interest to the Chair of the Board or Board Committee. The disclosure should also be made orally if awareness of the conflict occurs during the discussion of the Plan’s business. The Chair shall then immediately advise all members of the Board or Board Committee, and the Board or Board Committee shall decide upon a course of action. Any such person will thereafter abstain from any decision making with respect to the area of conflict including the exercise of his/her votes, until the issue causing the conflict of interest is resolved independently by the remaining individuals with voting rights.
(b) Every disclosure of interest, with the name of the individual declaring the conflict and how the conflict was resolved, under this Section shall be recorded in the minutes of the relevant Board or Board Committee meeting.
(c) The failure of a person to comply with the procedures, described in this Section, shall not of itself invalidate any decision, contract or other matter.
(d) The Board Committee shall satisfy itself that an appropriate policy regarding conflicts of interest exists and is followed by any Manager appointed by the IS. As a minimum, the Code of Ethics and Standards of Professional Conduct adopted by the CFA Institute shall be expected to apply to such Manager.
XII. MONITORING INVESTMENT PERFORMANCE
12.1 The IS shall review on a regular basis, as needed, and at least once a year:
(a) the current asset mix of the Fund;
(b) statistics on the investment performance of the Fund and each Manager relative to the objectives of the Policy and of the Mandates.
12.2 The OIM shall meet at least once a year with each Manager to discuss investment performance, investment strategies, expected future performance and any changes in the Manager’s organization, investment processes and professional staff.
12.3 The primary focus of performance assessment will normally be on a moving four-year basis, but performance over shorter time periods and the Manager’s performance for other comparable accounts prior to appointment for the Fund may also be considered. The
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Manager will not necessarily be faulted for under-performing the agreed standard over short time periods.
XIII. POLICY REVIEW
13.1 This Policy shall be reviewed at least annually by the Board Committee and the IS in order to determine whether any modifications are necessary or desirable. Such review shall consider whether there has been:
(a) a fundamental change in the design of the Plans;
(b) significant revisions to the expected long-term trade-off between risk and return on key asset classes;
(c) a major change in the actuarial calculation basis, the membership/liability distribution, or the contribution/expense expectation in respect of the Plans;
(d) a significant shift in the financial risk tolerance of the University;
(e) shortcomings of the Policy that emerge in its practical operation;
(f) significant recommendations by a Manager;
(g) changes in applicable legislation.
13.2 A copy of this Policy and any amendments to it shall be delivered to the actuary for the Plans. A copy of this Policy, or relevant sections thereof, shall also be delivered to each Manager and to the Board, the Board Committee and the IS.
2014
Annual Review of Statement of Page 88 of 271 Investment Policies and University of Guelph APPENDIX A Statement of Investment Policies and Procedures Page 24
XIV. APPENDIX A PLAN OVERVIEWS A: PENSION PLAN FOR PROFESSIONAL STAFF OF UNIVERSITY OF GUELPH
A.1 The Plan provides defined pension benefits to Members. The benefit provisions of the defined benefit plan are described briefly as follows:
(a) The pension is based on a formula utilizing a Member’s final average earnings multiplied by total pensionable service, and includes post-retirement inflationary protection at a level of the Consumer Price Index for Canada (capped at 8.0%) minus 2.0% per annum.
(b) Member contributions are required.
(c) The University is required to contribute at a level sufficient to finance the defined benefits within the funding requirements of the Act and the limitations of the Income Tax Act (Canada). The amount of these contributions is calculated from time to time, based on the advice of the Actuary retained by the University for such purpose. University contributions, and pension expense for financial statement purposes, are dependent on many aspects of the Plan's actual experience, including the Fund's investment return.
A.2 As of August 1, 20103, the date of the last completed valuation, the subject plan is 8194% funded on a going-concern basis and 741% funded on a statutory solvency basis. On a wind-up basis the Plan is 647% funded. Approximately 4952% of the going-concern liabilities are in respect of active members.
2014
Annual Review of Statement of Page 89 of 271 Investment Policies and University of Guelph APPENDIX A Statement of Investment Policies and Procedures Page 25
B: PLAN OVERVIEW FOR PENSION PLAN FOR NON-PROFESSIONAL STAFF OF UNIVERSITY OF GUELPH
B.1 The Plan provides defined pension benefits to Members. The benefit provisions of the defined benefit plan are described briefly as follows:
(a) The pension is based on a formula utilizing a Member’s final average earnings multiplied by total pensionable service, and includes post-retirement inflationary protection at a level of the Consumer Price Index for Canada (capped at 8.0%) minus 2.0% per annum.
(b) Member contributions are required.
(c) The University is required to contribute at a level sufficient to finance the defined benefits within the funding requirements of the Act and the limitations of the Income Tax Act (Canada). The amount of these contributions is calculated from time to time, based on the advice of the Actuary retained by the University for such purpose. University contributions, and pension expense for financial statement purposes, are dependent on many aspects of the Plan's actual experience, including the Fund's investment return.
B.2 As of August 1, 20130, the date of the last completed valuation, the subject plan is fully funded on a going-concern basis, statutory solvency and wind-up basis. Approximately 1628% of the going-concern liabilities are in respect of active members.
2014
Annual Review of Statement of Page 90 of 271 Investment Policies and University of Guelph APPENDIX A Statement of Investment Policies and Procedures Page 26
C: PLAN OVERVIEW FOR RETIREMENT PLAN OF UNIVERSITY OF GUELPH
C.1 The Plan provides defined pension benefits to Members. The benefit provisions of the defined benefit plan are described briefly as follows:
(a) The pension is based on a formula utilizing a Member’s final average earnings multiplied by total pensionable service, and includes post-retirement inflationary protection at a level of the Consumer Price Index for Canada (capped at 8.0%) minus 2.0% per annum.
(b) Member contributions are required.
(c) The University is required to contribute at a level sufficient to finance the defined benefits within the funding requirements of the Act and the limitations of the Income Tax Act (Canada). The amount of these contributions is calculated from time to time, based on the advice of the Actuary retained by the University for such purpose. University contributions, and pension expense for financial statement purposes, are dependent on many aspects of the Plan's actual experience, including the Fund's investment return.
C.2 As of August 1, 20130, the date of the last completed valuation, the subject plan is 8796% funded on a going-concern basis and 7468% funded on a statutory solvency basis. On a wind-up basis the Plan is 64% funded. Approximately 5861% of the going-concern liabilities are in respect of active members.
2014
Annual Review of Statement of Page 91 of 271 Investment Policies and Page 92 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 6. Physical Resources & Property Committee Report
Meeting: Thursday, June 4, 2015
a) Report from Committee Chair
The following is provided for the information of Governors.
At its meeting on March 25, 2015 the Physical Resources and Property Committee:
• Participated in a pre-meeting tour of the Ontario Veterinary College • Received updates on the progress of the OVC Master Plan re-development; • Received notice of motion for capital enhancements to the Alumni Stadium • Received a presentation on the proposed re-location of the Turfgrass Institute • Reviewed the feedback received on the draft policy “Guiding Principles for Capital Assets – Real Estate and Facilities” • Received a reminder concerning the upcoming 2014-15 Board evaluation surveys
At its meeting on May 13, 2015, the Committee:
• Participated in a pre-meeting tour of Guelph Turfgrass Institute • Received an up-date on active major capital projects (above $2 million) [see on-line supporting materials] • Reviewed and recommended for approval the re-developed OVC master plan [see item 6b] • Reviewed and recommended to the Finance Committee the following capital project approvals: Alumni Stadium Addition; Stone Road East Easement; and the proposed relocation of the Turfgrass Institute [see item 7c under the Finance Committee report]] • Reviewed the 2014-15 capital activities report [see on-line supporting materials] • Received the 2014-15 Annual Reports for the Campus Master Plan 2 (CMP2), the Arboretum, and Athletics & Recreation [see on-line supporting materials; master plans are available at the following links: o CMP2 - http://www.pr.uoguelph.ca/pr/campus_master_plan_2013.shtml; o Arboretum - http://www.pr.uoguelph.ca/pr/arboretummasterplan.shtml; o Athletics - http://www.pr.uoguelph.ca/pr/masterplanning.shtml] • Received the Annual Report on Space Management [see on-line supporting materials] • Received the Naming Opportunities Plans (NOPS) for 2015-16 [included in the
Report from the Committee Page 93 of 271 Chair Closed Session report] • Received a report on this year’s Student-Funded Energy Retrofit Project [see on-line supporting materials] • Reviewed the results of Committee’s 2015 annual evaluation survey • Completed the annual review of PRPC’s terms of reference & 2015-16 agenda plans
The current membership of the PRPC is as follows:
Graham Badun, Chair Arnie Cader (BOT cross-appt) Mary Anne Chambers Nancy Croitoru Paul Gibson Ric Jordan Peter Miller Jonathan Newman Mike Ridley Dick Freeborough Franco Vaccarino Kate Revington (Associate University Secretary, non-voting)
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Report from the Committee Page 94 of 271 Chair UNIVERSITY SECRETARIAT
To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 6. Physical Resources & Property Committee Report
Meeting: Thursday, June 4, 2015
b) Revised OVC Master Plan Re-development
The OVC Master Plan was approved in principle by the Board of Governors on April 7, 2004, and subsequently refined, amended and approved by the Board of Governors on June 2, 2010.
At the January 25, 2015 meeting of the Board of Governors, OVC Dean Elizabeth Stone reviewed the OVC capital facilities completed since the OVC Master Plan had been endorsed by the Board in 2009, and highlighted projects that are a priority for the next year as the OVC undergoes an accreditation review.
At that time, Dean Stone indicated that it would be desirable if Board approval could be obtained by the summer of 2015 for the up-dated OVC master plan, including approval in principle of the facilities improvements for which private and public sector financial support is being sought.
At its meeting on May 13, 2015, PRPC received and reviewed the re-developed master plan, and expressed support for it as a framework for future capital project development. The PRPC was very pleased with the quality of the planning document.
The re-developed OVC Master Plan is now recommended to the Board of Governors for approval. Due to their size and volume, the OVC Master Plan Re-development materials Volumes I and II are included on-line Supporting Materials folder.
Dean Stone will be in attendance at the meeting to answer any questions on the re-developed plan.
The Board of Governors is asked to,
RESOLVE, on the recommendation of the Physical Resources and Property Committee and the Finance Committee, the Board of Governors accept and approve that: a) the re-developed Master Plan for the Ontario Veterinary College be approved as presented; b) the plan be used as a framework for considering future capital projects related to the Ontario Veterinary College.
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Revised OVC Master Plan Re- Page 95 of 271 development [Motion] Page 96 of 271 UNIVERSITY SECRETARIAT
To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 6. Physical Resources & Property Committee Report
Meeting: Thursday, June 4, 2015
c) Update on Capital Projects and Land Transactions
At its meeting on May 13, the Physical Resources and Property Committee considered the following proposed decisions with regard to new capital projects and land transactions and recommended their approval to the Board of Governors, subject to their review by Finance Committee.
The following offers background on the projects. The motions pertaining to these projects are provided under the Finance Committee’s report (see item 7c).
i) Re-location of the Guelph Turfgrass Institute
Enclosed is a proposal for the re-location of the Guelph Turfgrass Institute (GTI), a research and teaching facility, currently located on lands leased from the Province and adjacent to the main campus:
The Guelph Turfgrass Institute was established in 1987 to conduct research and extension education, and provide information on turfgrass production and management to members of the Canadian turfgrass industry. Part of the University of Guelph, the institute is supported by the university, the Ontario Ministry of Agriculture, Food and Rural Affairs, and the turfgrass industry.
More information on the GTI is available on-line at: http://www.guelphturfgrass.ca/
The lease with the Province expires in 2018.The plan is to re-locate the headquarters of the GTI to a site on Arboretum land; other elements associated with the activities of the Institute (research plots, etc.) may also be re-located to Arboretum lands or moved to other sites such as the Elora Research station etc.
The plans for the re-location have been the subject of negotiations between the Province and the University, facilitated through the Ontario Ministry of Agriculture, Food, and Rural Affairs (OMAFRA), with the end result that the Province has made a commitment (through OMAFRA) to provide funding of approximately $12-15M for the re-location of the GTI.
Following the review and discussion of the project proposal, both the Physical Resources and Property Committee (PRPC) and the Finance Committee are recommending Board approval of
Update on Capital Projects and Page 97 of 271 Land Transactions the re-location project. The PRPC was supportive of the plan, subject to its review and approval of the resulting site plans, environmental plan, and a business plan, when available.
Enclosed is a brief prepared by Dean Rob Gordon of the Ontario Agriculture College (OAC) in regard to planning for this re-location, and the identification of the University of Guelph Arboretum as the new site. The brief includes a conceptual site plan and conceptual drawings for a re-located facility.
ii) Alumni Stadium Addition
At its meeting on May 13, 2015, the PRPC reviewed a proposal for a capital project related to enhancements to the Alumni Stadium.
Enhancing the facilities at Alumni Stadium is one of several priorities listed in the Athletics Master Plan (approved 2008) which provides a framework for a long-range (30 year) building strategy for Athletics (see on-line supporting documents for item 6a). Any specific proposed projects are subject to the normal governance approval process and no project is started until funding necessary for both construction and operating costs have been identified. Over the past several years, several projects identified in the Athletics Master Plan have been completed and paid off in full, including installation of an eight lane track, a synthetic field, new lights and a new scoreboard. These improvements have provided enriched opportunities for rentals and community usage.
Enclosed is a project brief for the addition of a Football Pavilion to the Alumni Stadium. This project, well not specifically identified in the Athletics Master Plan, is in alignment with it and reflects the intentions of a donor who is donating $5,000,000 to fully fund the project (i.e., excluding new equipment associated with ancillary services such as laundry or therapy rooms).
iii) Stone Road East Easement
Enclosed is a memo from Mr. O’Leary regarding a request from the City of Guelph for an easement of University-owned land to facilitate the reconstruction of Stone Road East.
Mr. O’Leary will present to answer any questions related to the City’s request for the easement, which is on University land leased to the Village by the Arboretum (VBA) as part of the Heritage Trust.
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Update on Capital Projects and Page 98 of 271 Land Transactions Guelph Turfgrass Institute (GTI) Relocation
Relocating The GTI: Background The founding impetus for relocating the Guelph Turfgrass Institute was the preparation of development plans by the City of Guelph for the urban development of a 1,000 acre parcel of land in east Guelph that is known by various names – the York District, Guelph Innovation District, lands comprising the former Ontario Reformatory and surrounding area. The current Guelph Turfgrass Institute comprising its headquarters, the G. M. Frost Centre, and turfgrass research plots are found in the Northwest Quadrant of the new development area. The GTI is leasing the land from the Province. The lease expires in 2018. Planning for new growth in the area has been underway in one form or another for the past decade since the 2001 announcement of the closing of the Ontario Reformatory in the northeast portion of the development area. The York District Study area encompassed all of the public and private lands within the confines of York Road, Watson Road, Stone Road and Victoria Road South. The GTI property is located in the heart of the study area. It became apparent very early on in the process that the sale and redevelopment of the GTI property was a very likely outcome of this process. Organized planning has been underway since 2005, when the City launched its planning process for development of the Guelph Innovation District. See the City’s webpage at Guelph.ca
Update on Capital Projects and Page 99 of 271 Land Transactions Research Station.
Guelph Turfrgrass Institute Core Facilities and research plots
Guelph Research Station (>200 acres)
Arboretum Proposed general area of GTI relocation and redevelopment in Arboretum. Area includes redevelopment of Arboretum’s Hilton Centre.
University of Guelph Property
Figure 1. Map generally highlighting proposed redevelopment area of GTI core facilities to Arboretum. Note, proposed development in Arboretum would not cover entire blocked area in the Arboretum and new GTI research and demonstration plots would be incorporated into a landscape design and could be non-contiguous.
A detailed inventory of existing GTI infrastructure was conducted by an external consultant hired by the university in preparation for discussions with the province on the cost of relocation. In addition, the consultants facilitated discussions with representatives from the Arboretum including its director, the director of the School of Environmental Sciences and key Arboretum staff, to gather input on the feasibility of a potential move of a portion of the GTI to Arboretum lands. The consultants' report provided a valuation of current GTI infrastructure (as well as that of the adjacent agroforestry research station) and proposed a preliminary conceptual plan of how a portion of the existing GTI (a building and limited research and demonstration plots) could be relocated within a portion of the Arboretum property located north of College Avenue (see appendix 1). This report was presented to the provincial government and negotiations between the government and university facilitated by the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) have continued to the point where in 2014, the province made a commitment (through OMAFRA) to provide substantive funding of $12-15M for the relocation of the GTI.
The Guelph Turfgrass Institute Turfgrass research at the Ontario Agricultural College dates back to the early
2
Update on Capital Projects and Page 100 of 271 Land Transactions 1940’s. For many years research was carried out at the Cambridge Research Station. The concept for a turfgrass institute was originally proposed by Dr. Robert Sheard following the successful hosting of the 1981 International Turfgrass Research Conference at Guelph. The concept was enthusiastically supported by other faculty as well as the Ontario turfgrass industry. In 1987, the Guelph Turfgrass Institute (GTI) was officially established by the University of Guelph Senate. It was created to “promote an interdisciplinary approach to research, education and extension programs in turfgrass science at the University of Guelph, and to facilitate greater interaction between the University, industry and provincial government” (University of Guelph Senate Document). As teaching and research activities expanded, an urban site closer to the university was deemed essential to the success of the GTI. A site on provincial land located to the northeast of the Arboretum was secured. In partnership with the Ontario government and the University of Guelph, the turfgrass industry, though the Ontario Turfgrass Research Foundation, undertook a fundraising drive that resulted in the construction of the G.M. Frost Research & Information Centre. The Frost Centre, which opened in 1992, is home to GTI staff, turfgrass industry associations, the Ontario Ministry of Agriculture, Food & Rural Affairs Turfgrass Specialist and also serves as a field lab for university researchers. The building provides a focal point for the turfgrass industry not only in Ontario but across Canada and internationally. An agreement between the province and the Ontario Turfgrass Research Foundation stipulated that the province would maintain the facility for a period of 25 years with the understanding that a follow up agreement would be developed at the end of that period. The provincial government and Ontario turfgrass industry partnered to construct an extensive array of turfgrass research areas on the current GTI site that mimic recreational turfgrass and urban greenspace areas. The property features a variety of constructed research and teaching areas including bentgrass putting greens, turfgrass variety trials, sports fields and ornamental plant evaluation trials. A wide range of research projects have been undertaken at the site including turfgrass species and variety evaluation, development of new or improved cultural techniques, pest management research including the development and evaluation of alternatives to traditional chemical pesticides, the use of organic wastes in turf production systems and the evaluation of drought tolerance and water use in turfgrass. The GTI also serves as an educational resource for the University of Guelph and has an active role in diploma, undergraduate and graduate teaching as well as industry professional development programs. The GTI provides consulting and advisory services to the industry and provides information to both turf industry professionals and home gardeners. The Institute is a unique research facility in that it exists within an urban environment. The urban context of the Institute is essential to insure that the research conducted at the institute reflects the challenges of developing and maintaining functional green spaces within an urban environment.
The University of Guelph Arboretum The Arboretum is a beloved feature of the U of G campus, encompassing 165 hectares of formal plant collections and gardens, as well as natural unmanaged areas including a 40 hectare Nature Reserve. Embedded in the landscape are walking and jogging trails, plant propagation facilities and nurseries, a 3
Update on Capital Projects and Page 101 of 271 Land Transactions meeting/conference centre, and an interpretive/nature centre. Part of the City of Guelph’s Natural Heritage System, the Arboretum contains significant woodlands, provincially significant wetlands and other features such as meadowlands. Now administered through SES and OAC, the Arboretum is operating under its third BoG-approved Master Plan, with a mandate to promote education, research and outreach. It is intended to serve as a living laboratory, an outdoor learning resource and a community resource. Specific objectives outlined in the most recent master plan include promotion of its unique plant collections, participation in university courses as well as external education programs, and provision of leadership in the sustainable management and restoration of natural heritage lands. The Arboretum earned a place in the top quintile of U of G programs as a result of the recent Program Prioritization Process. Soon after the establishment of the Ontario Agricultural College in 1874, the need for a collection of woody plants to support teaching and research was recognized, and the original planting of the campus in the 1880s incorporated such a collection. Later, expansion of the University created a need for a dedicated Arboretum. In 1966, the Board of Governors approved the plan for an arboretum as a ‘living laboratory’ serving a range of disciplines and uses. Established in 1970, our Arboretum was loosely modelled on Harvard University’s Arnold Arboretum. Prior to its establishment, much of the land was part of OAC’s College Farm, used for crop research and education. The Arboretum has emerged as one of Canada’s only true Arboreta, with a focus on native plants and plants of known wild provenance. It is an active member of organizations such as the American Public Gardens Association and Botanic Gardens Conservation International. Since its inception, more than 30 different woody plant collections (planted grouping of plants organized based on taxonomic relationships, form, or function) have been established in the Arboretum. The collections have been actively improved over the years as individual plants are replaced by those with more rigorously documented origins (increasing their value as formal botanical collections). The Arboretum has shown leadership in responding to knowledge and conservation needs through the initiation of projects such as the Rare Woody Plants of Ontario Program, the Ontario Tree Atlas Project and the Elm Recovery Project, which have attracted significant public participation, donations, and/or interest from conservation organizations. The development of feature gardens, which attract visitors and promote community involvement, has evolved to reflect changing priorities; e.g. the Gosling Wildlife Gardens demonstrate how to increase the habitat value of a typical backyard for pollinators, birds and wildlife. The Arboretum raises approximately $100,000 each year in donations, in addition to $125,000 in program revenue (event space rentals, workshops, plant sale, etc.), and holds over $2 million in endowments. The Arboretum has the equivalent of 7 full-time staff and has cultivated an active volunteer program (drawing people from on and off campus), with annual volunteer work hours equivalent to 2 full-time employees, making invaluable contributions to garden maintenance, groundskeeping, fundraising and outreach. Arboretum staff participate in undergraduate and graduate-level curricula by running tours, labs and information sessions for students from numerous U of G courses in areas ranging from plant propagation to landscape architecture to ornithology to ecosystem science, as well as supporting the many student research projects (at the undergraduate and graduate levels) being conducted on the grounds 4
Update on Capital Projects and Page 102 of 271 Land Transactions (currently there are at least 15 active U of G student and faculty research initiatives making use of the plant collections or natural areas; since its inception over 100 published papers have stemmed from work conducted in or material sampled from the Arboretum). As part of our outreach mandate, staff collectively give dozens of talks per year to external user groups. Recent Arboretum developments include a new donor-funded greenhouse facility; a plant record database overhaul designed to improve effectiveness and accessibility; formalization of our plant collection policy, as we work towards international recognition of these collections; more effective integration of fundraising activities with university-wide efforts through direct links on both the Arboretum and university websites; funding support for our Rare Woody Plants of Ontario program from the provincial government’s Species at Risk Stewardship Fund; and support received for the latest phase of the Elm Recovery Project, in the form of donations from OAC Class of ’56 (as a class anniversary project), and grant funds from the International Society of Arboriculture. The Arboretum contributes to the attractiveness of the campus, and serves as important greenspace for the campus community and the city as a whole. The plant collections and initiatives such as the Rare Woody Plants of Ontario Program are recognized by conservation and horticultural organizations regionally and internationally. In addition to providing integral support for university teaching and research, and contributing to the goals of U of G’s Integrated Plan (e.g. helping with student success and engagement by providing resources for experiential learning and highly effective learning opportunities), Arboretum staff are also heavily involved with community outreach (lectures, tours, workshops, volunteer training, fundraising) and as such act as ambassadors for the university.
Pros & Cons of Relocating a portion of the GTI to The Arboretum. Pros: The relocation accommodates the needs of both the province and the city in terms of their plans for the York District Lands; this accommodation is valuable in terms of the relationship between the University and the city and the province. The relocation satisfies the current GTI stakeholder community and their desire to have the GTI remain close to the University. The proximity to campus and Cutten Fields Golf Course would further enhance the utilization of the GTI as a teaching facility within UofG turfgrass management diploma, undergraduate and graduate programs. The plan provides for a new facility in the Arboretum which could serve education and outreach purposes for the GTI, the Arboretum and the University. Accommodating the GTI would fit with the Arboretum’s mandate to support research/teaching activities. Recognizing within this, however, that the Arboretum is intended to encourage research and teaching related to natural and naturalized landscapes. Compensation to the Arboretum in the form of improvements to aging infrastructure (Arboretum facilities north of College Ave) will be very valuable, provided that the new GTI infrastructure does not infringe upon Arboretum operational needs.
5
Update on Capital Projects and Page 103 of 271 Land Transactions Development of new education, research and demonstration opportunities with Cutten Fields will be possible given the potential new proximity of the GTI to Cutten Fields. The plan allows for a much reduced research and demonstration footprint associated with the GTI in Guelph as well as non-contiguous research plots. This allows for the research and demonstration plots to be carefully woven into the Arboretum landscape. A relocated GTI building will provide an opportunity for new co-location space for tenants that would be associated with either or both the missions of the Arboretum and the GTI including organizations interested in water quality, nature conservancy, urban green spaces and environmental care. Cons: Current GTI property is provincially owned with maintenance and capital improvements funded through ARIO. Disruption to existing GTI tenant organizations and unknown operating costs (rental agreement, parking, etc.) resulting from a move to university property. There will be limited research and demonstration space for turf at the new location in the Arboretum (although the plan does also include new lands at Elora that would be developed for turf research). Loss of Arboretum-controlled land space will mean lost opportunity for further plant collection development, Arboretum-led research activity, ecosystem restoration programs, etc., in that space. There is potential for public perception issues, e.g. negative reaction by Arboretum users to activities that contradict the message of the Arboretum’s public outreach work (i.e. promoting the value of woody plants, biodiversity, natural ecosystems); confusion about what the Arboretum represents, although there has not been any negative response to-date when this issue has been presented in the media. There are some concerns over freedom to operate from a research perspective on this Arboretum site in terms of researching and demonstration of synthetic pest control products and novel technologies, although there could be an opportunity to use this site to emphasize environmentally friendly approaches and technologies in turf management.
Note: The potential for negative impacts on the Arboretum will be tied to the extent of space allotted to turf research and demonstration plots. If the area of turf is limited to a modest amount as per the current plan, issues of perception, stewardship, and lost opportunity will be minimized. It is conceivable that this outcome would also benefit the University and the turf industry, as far as public relations are involved. As a further consideration, there may be potential for collaboration between the Arboretum and the GTI on any turf research/teaching that aligns with the Arboretum’s values, e.g. turf cultivation involving native species mixes, low water and chemical use, etc..
Ongoing Process The report that was produced in April 2013 forms a basis for developing a plan to relocate a portion of the GTI to the Arboretum. A steering committee was
6
Update on Capital Projects and Page 104 of 271 Land Transactions struck by Don O'Leary (Vice-President Finance and Administration). The committee is chaired by John Vanos (Physical Resources) and includes Shelley Hunt (Director of the Arboretum), Rene Van Acker (Associate Dean, OAC), Remo Pallottini (Office of Research), Ken Hough (Office of Research), Dave DeCorso (GTI Advisory Board Chair), Rob Witherspoon (Director of the GTI) and Jennifer Llewelyn (OMAFRA). The Steering committee is charged with developing and vetting RFP's for the relocation project and acting in an advisory role during the project.
The project will proceed and the plans will develop under the following guiding principles: 1) That the integration of the GTI into the Arboretum be approached in a manner that fully respects and is congruent with the missions and visions of both the Arboretum and GTI. 2) That the project serves to optimize operational efficiencies for both the Arboretum and the GTI 3) That the project creates new opportunities for both the Arboretum and the GTI. 4) That the project satisfies the expectations of internal and external stakeholders of both the Arboretum and GTI. 5) The project continues to obtain Provincial operating support funds and minimizes the University’s contribution to an acceptable extent.
7
Update on Capital Projects and Page 105 of 271 Land Transactions Appendix 1: April 17, 2013 Conceptual Plan for GTI Relocation to Arboretum.
8
Update on Capital Projects and Page 106 of 271 Land Transactions Land Transactions Update onCapital Projectsand Page 107 of271
GUELPH TURFGRASS INSTITUTE RELOCATION University of Guelph Arboretum | April 17, 2013 Land Transactions Update onCapital Projectsand VISION STATEMENT Research | Education & Service
The University of Guelph is an institution dedicated to the belief that inventive, inspirational, high quality teaching and applied research is fundamental in the development of individuals, organizations and communities.
This dedication is evident through ongoing efforts surrounding the proposed relocation of the Guelph Turfgrass Institute (GTI) to a new campus location. The integration of this world class facility is intended to strengthen existing relationships and build
Page 108 of271 on a history of collaborative learning experiences, innovative research and specialized service.
In consultation with the key participants from the OAC, Arboretum and the GTI, the University of Guelph has identified a potential site for the core facilities of the GTI, to be hosted within the northern limits of the
' Arboretum. While this process is still in its preliminary stages, the University has commissioned this document ‘27cY:= Guam \'ukrr.uss msnnns \ GT I to serve as a tool or for the communication of the proposed vision for this relocation initiative. The vision _'E§T
is grounded in the principles of Research, Education and Service – ideals and expectations common to cmmcmc um the key participants, their public partners, and partners within associated professions, industries and the lmnovmc Ln: government.
1 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand CONTEXT MAP Research | Education & Service
Note:
GTI facilities outside of the ‘Core Facilities’ CORE FACILITIES are to be relocated to an existing Agriculture EXISTING GTI AREA (17 acres) Research Institute of Ontario (ARIO) and LOCATION partnership sites. (210 acres)
victoria road south PROPOSED GTI LOCATION (17 acres)
CUTTEN ARBORETUM FIELDS Page 109 of271
college ave. east UNIVERSITY OF GUELPH
stone road east Existing GTI Location
Existing GTI Location (Core Facilities) edinburgh road The University of Guelph
The Arboretum
Proposed GTI Location (Core Facilities)
The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers 2 Land Transactions Update onCapital Projectsand CONCEPTUAL SITE PLAN Description of Key Elements
NEIGHBOURING USES UNIVERSITY OF GUELPH ARBORETUM
N1 Bedrock Aquifer Field Facility A1 Arboretum Entry Drive • Identification feature and associated facility signage at College Avenue East. N2 Cutten Fields A2 The Arboretum at the Hilton Centre • Approximately 5,665 square feet of research, support and operations space. N3 Environment Canada Weather Station • Renewal and renovation of the existing Hilton Centre based on user needs. • Relocated from existing GTI facility at Victoria Road. A3 The Arboretum at Harrison House • Approximately 3,515 square feet of administration space. GUELPH TURFGRASS INSTITUTE • Renewal and renovation of the existing Harrison House based on user needs. A4 Parking Area G1 Guelph Turfgrass Institute Entry Drive • 50 permanent spaces with connection to temporary / event parking area. • Identification feature and associated facility signage at College Avenue East. • Asphalt drives and aisles with permeable paver parking spaces. G2 Guelph Turfgrass Institute - New ‘G.M. Frost Centre’ A5 Existing Arboretum Greenhouse • Approximately 13,660 square feet of laboratory, research, teaching, • Newly constructed greenhouse to be maintained with opportunities for future conference & administration space. expansion provided. • Two storey building reflecting sustainable design principles and A6 Existing Arboretum Nursery responsiveness to the existing site. • Limits of nursery area to be maintained. G3 Entry Loop and Drop-off • Existing shade gardens to be relocated into the nursery area. • Enhances the sense of arrival and provides for secondary signage and landscape feature opportunities. SHARED FACILITIES
Page 110 of271 G4 Parking Area • 60 permanent spaces with connection to temporary / event parking area. • Terraced into the existing topography and screened by landscaping. S1 Special Events Parking • 70 temporary spaces to be utilized by both the GTI and Arboretum for • Asphalt drives and aisles with permeable paver parking space. special events overflow parking. G5 Stormwater Retention and Irrigation Pond • Reinforced turf surface for long term maintenance and use. • Collection and reuse of surface run-off for irrigation purposes. • Aesthetic and environmental feature the provides aquatic habitat. S2 Maintenance Area • Single maintenance building with separated user spaces for the Arboretum G6 Open Lawn and Event Area and GTI. • Flexible outdoor space for special programs and events. • GTI interior green and bunker construction space (winter months). • Maximizes views and vistas to the surrounding landscape. • Consolidated maintenance yard (economically and spatially efficient G7 Turfgrass Research Plots footprint). • Core research and education areas in close proximity to the G.M Frost • Potential for additional temporary parking for special events. Centre. S3 Pond Outfall and Constructed Wetland • Terraced into the existing topography to minimize construction area. • Man-made feature to manage and treat pond overflow before it enters the G8 Research Greens existing natural system. • Five individual greens of varying construction to respond to research needs. • Potential educational feature related to natural systems and wetland • Located in close proximity to Cutten Fields. habitats.
3 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand CONCEPTUAL SITE PLAN Campus Approach arboretum property limits Page 111 of271
LEGEND Arboretum Property Limits
Existing Vegetation
college avenue east Existing Contours (0.5m intervals) Existing Watercourse
The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers 4 Land Transactions Update onCapital Projectsand ARCHITECTURE VISION Guelph Turfgrass Institute | Conceptual Floor Plans
2 2 FUNCTIONAL PROGRAM PROGRAMMATIC ELEMENTS E E Programmatic Hements 14 Open Office Lab8. Research Facility, Approx1. 217 m’ 1 Multi—Function Space 15 Kttchenette Classroom 16 DIrecmr's Office Administration Including Conference, approx. 369 m’ 2 1 3 classroom Storage 17. smauBoardroom 13 Frmt/ Copy Area Conference & Teaching Facilit ,zppmx. 365 ml 4. Women's Washroom an d Locker Faclhtv Man Room n y, 5. Men's Washroom and ocker Facility mchen 3. Lunchroom Suppnrl raemzies, approx. 152‘"'1 6 LabStorage 20 7 Research mrecror's of?r 21. Storage Men's Washvocm Mechanica\ 3. Electrical, apprc» <.156 m’ 8 Research Office 22. 9. Held Labnramnes 23 Women’: Washroom 10. chemrcal Storage 24 necepnon& Secunty 11. Large Boardroom 25. Janitor 12. Office 26 Mechanical & E\ec(rica\ Room 13. Breakout Space 27 Ostern Page 112 of271
PROPOSED GROUND FLOOR PROPOSED SECOND FLOOR
5 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand
m ARCHITECTURE VISION n .m_. ._ 0 Exterior connection to GuelphGuelph Turfgrass InstitutInstitutee | Stacking Diagram n n o Event Space lawn .mc N n FUNCTIONAL PROGRAM E Page 113 of271
TheThe MBTW GGrouproup // GGrinhamrinham ArchitectArchitect Inc.Inc. / / Braun Consulting Engineers 6 Land Transactions Update onCapital Projectsand ARCHITECTURE VISION Guelph Turfgrass Institute | Visualization Page 114 of271
Visualization of the front building facade and feature wall from the south west.
7 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand ARCHITECTURE VISION Guelph Turfgrass Institute | Visualization Page 115 of271
Visualization of the second floor and surrounding open lawn area from the north west.
The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers 8 Land Transactions Update onCapital Projectsand ARCHITECTURE VISION The Arboretum atat HarrisonHarrison HouseHouse & & Hilton Hilton Centre Centre | |Conceptual Conceptual Floor Floor Plans Plans
FUNCTIONAL PROGRAM
PROGRAMMATIC ELEMENTS Page 116 of271
HARRISON HOUSE PROPOSED COMPONENT ASSEMBLY
9 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand ARCHITECTURE VISION The Arboretum at Harrison House & Hilton Centre | Stacking Diagrams
FUNCTIONAL PROGRAM ‘ Administration Space, Approx .Z84m’ ‘ Research & Suppnrt Facilities, zppmx. 255 m’ Shop approx. 134 . Facilities, m Potential cnnnectinn
r:mny.hmmn(=,—.Imy Page 117 of271
HILTON CENTRE STACKING DIAGRAM HARRISON HOUSE STACKING DIAGRAM
TheThe MBTW GGrouproup // GGrinhamrinham ArchitectArchitect Inc.Inc. // BraunBraunC Consultingonsulting Engineer Engineerss 10 Land Transactions Update onCapital Projectsand ARCHITECTURE VISION The Arboretum at Harrison House |Visualization Page 118 of271
Visualization of the rear yard addition to Harrison House from the north west.
11 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand SYSTEMS DIAGRAMS Site Function & Organization
Existing Buildings
GTI Facilities BEDROCK AQUIFER HARRISON HILTON FIELD FACILITY HOUSE CENTRE Arboretum Facilities
Shared Facilities EXISTING CONDITIONS LAND USES Sanitary Sewer Page 119 of271 Water Service
Pedestrian and Cross Country Trail Primary Vehicular Secondary Vehicular SITE SERVICING VEHICULAR / PEDESTRIAN CIRCULATION
The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers 12 Land Transactions Update onCapital Projectsand RESEARCH / re-search / ri-sûrch The systematic investigation into and study of materials and sources in order to establish facts and new research conclusions
WORLD CLASS FACILITY
Page 120 of271 INDUSTRY PARTNERSHIPS
SYSTEMATIC INVESTIGATION
13 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand EDUCATION / ed-u-ca-tion / ejoo-ka’shon The process of receiving or giving systematic instruction
SPECIALIZED TURFGRASS PROGRAMS
PRACTICAL EXPERIENCE Page 121 of271 STRENGTHEN ACADEMIC & COMMUNITY CONNECTIONS
The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers 14 Land Transactions Update onCapital Projectsand SERVICE / serv-ice / sûr’vis A valuable action, deed or effort performed to satisfy a need or to fulfill a demand
TRADITION AND HISTORY OF VALUE TO COMMUNITY VARIETY OF EXPERIENCES
BENEFITS TO CAMPUS LIFE Page 122 of271
15 The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers Land Transactions Update onCapital Projectsand Page 123 of271
This document was prepared on behalf of the University of Guelph. The text and images contained in this document are a conceptual representation only, of the intended vision and character of the Guelph Turfgrass Institute. In this regard, they should not be construed or interpreted literally as what will the mbtw group ,Consultmg be constructed.
Any future design and construction shall be in compliance with all other authorities having jurisdiction.
The MBTW Group / Grinham Architect Inc. / Braun Consulting Engineers 16 Update on Capital Projects and Page 124 of 271 Land Transactions
Physical Resources Design, Engineering and Construction
RE: Alumni Stadium Addition – Football Pavilion
Project Details
Objective To provide for an expansion of and enhancement of spaces required for the football program.
Location Immediately north of and adjacent to the existing stadium. Refer to the attached Site Plan.
Scope Program The new spaces are expected to include:
On the Lower Floor - New locker room for approximately 100 football lockers, showers and washrooms, therapy room, laundry, equipment storage, lounge and circulation space for access to second floor and a well-defined “gateway” to Field.
On the Upper Floor - 4 offices for coaching staff, coaches locker room, film viewing space, lounge space, 5 - 6 meeting rooms, storage, large divisible conference meeting room, and possible viewing balcony. Functionality of roof to be considered.
Net Assignable Program area is approximately 13,500 square feet. Gross area of approximately 15,000 square feet.
Architectural Architectural work to include:
Exterior façade to tie in to the existing Alumni Stadium consisting primarily of unit masonry with punched and strip windows where appropriate. Wall and roof design will be designed to exceed minimum code requirements for energy efficiency. Roof design for occupancy to be considered.
Interior finishes will be selected to be compatible with football activities including sports flooring, high impact resistant materials for walls and ceilings and moisture resistant finishes.
Large conference room will include an electrically operated wall to divide the space. Meeting rooms will be equipped with full audio visual capability expected for such spaces.
Structural Structural work to include:
Design to support project program Review of and reinforcement of an existing roof area Design for new roof area as an outdoor space.
Mechanical
PROJECT CHARTER Page 1 of 2 Alumni Stadium – April 2015 – Version 3.00
Update on Capital Projects and Page 125 of 271 Land Transactions Mechanical work to include:
Design to support project program and to exceed minimum code requirements for energy efficiency. Air conditioning Special control and ventilation rates for moisture odours for locker rooms, showers and washrooms, laundry and any equipment storage Tie-in to existing mechanical services on site and in the existing building including building automation control system.
Electrical Electrical work to include:
Design to support project program Tie-in to existing electrical services on site and in the existing building. Tie-in to existing Data/Communications infrastructure on site and in the existing building. Connections for User supplied equipment. Electronic access and controls.
Other
Exclusions New equipment associated with ancillary services such as laundry or therapy rooms is not included. The design and installation will allow for connections of such equipment.
Budgets Construction - $3,500,000
Total Project - $5,000,000
Includes all internal costs, fees and permits. Construct estimates include General Conditions, OH&P and permits. Cost estimate does not include cost of any new equipment or furniture which will be provided from existing Athletics’ Department sources.
Schedule Expected completion is August 2016.
Funding Donor contribution / support of $5,000,000. Project cost will not exceed donor contribution.
PROJECT CHARTER Page 2 of 2 Alumni Stadium – April 2015 – Version 3.00
Update on Capital Projects and Page 126 of 271 Land Transactions Land Transactions Update on Capital Projects and
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PROPOSED ADDITION TO ALUMNI STADIUM Page 128 of 271 U_NIVEI§ Memorandum ITYMGUE FROM THE OFFICE OF THE VICE-PRESIDENT (FINANCE, ADMINISTRATION & RISK)
To: Physical Resources and Planning Committee
From: Don O’Leary, Vice President (Finance, Administration & Risk) Philip Wong, Director of Real Estate
Date: May 13, 2015
Subject: Granting of easement to City of Guelph for reconstruction of Stone Road East
REASON FOR REPORT:
To seek the approval from PRPC to grant an easement to the City of Guelph of University owned land to facilitate the reconstruction of Stone Road East in Guelph.
Background:
The City of Guelph is undertaking the reconstruction and improvement of Stone Road East. Last year, Phase 1 - being the east leg (between Village Green Drive and Victoria Road South) was reconstructed to a four-lane urban roadway with sidewalks and bike lanes.
Phase 2 - being the west leg (from Village Green Drive to Gordon Street) will be under construction this summer from May to September.
The City is requesting that a 5m X 12m permanent easement be granted from the University in order to accommodate traffic signals and underground conduit. The location of the easement is at the southwest corner of Stone Road East and Village Green Drive, this is part of the leased land to the Village by the Arboretum (VBA).
VBA administrators have been consulted on the City’s request and they do not have any concerns with granting the easement. The rebuilding of Stone Road to an urban standard is positive for the University. Proper sidewalks, bike lanes and roadway allowances improves safety, better managing traffic volumes along Stone Road and in particular at the southern entrances to the campus, as well as to Village by the Arboretum.
The location of the easement is attached to this report.
Recommendation:
Administration recommends that a permanent easement (5 m X 12 m) at the southwest corner of Stone Road East and Village Green Drive be granted to the City of Guelph to facilitate the reconstruction and improvement works for Stone Road East.
Update on Capital Projects and Page 129 of 271 Land Transactions Land Transactions Update on Capital Projects and
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Page 131 of 271 Proposed 5m x 12m permanent easement for traffic elgnal and underground conduit
u/n/, / /H/n -1... -—-rn-I Page 132 of 271 (1INIVE ITY MGUELH UNIVERSITY SECRETARIAT
CHANGING LIVES IMPROVING LIFE To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 7. Finance Committee Report
Meeting: Thursday, June 4, 2015
a) Report from Committee Chair
The following is provided for the information of Governors.
i) Recent Finance Committee activities
At its meeting on February 26, 2015, the Finance Committee:
Received presentations from the Central Students Association (CSA), Graduate Student Association and CUPE 1334 Received a report from the President on advocacy activities Reviewed and discussed the joint advocacy letter proposed by the CSA Received and recommended Board approval of the proposed 2015-16 University of Guelph-Humber budget Received and discussed a presentation on the 2015-16 budget development, including key assumptions, risks and process [including advice from the 3 student Governors – see note under Business Arising] Received a semester report for University of Guelph budgets as of December 31, 2014 Received a report on recent activities of the Investment Subcommittee with respect to endowment assets Received a financial update on fundraising
At its meeting on April 15, 2015, the Committee:
Received a report from the President on advocacy activities and consider further a proposed joint advocacy letter [see below] Considered the University of Guelph 2013-17 Integrated Plan and 2015-16 MTCU Operating Fund Budget Considered the proposed 2015-16 Ancillary budgets for Hospitality, Student Housing and Parking Services & Transportation Planning Considered the proposed 2015-16 University Centre operating budget Considered the Proposed 2015-16 Real Estate Division and Business Plan Reviewed the University’s most recent credit agency reports and related materials of relevance to financial health indicators Received a financial update on fundraising
Report from the Committee Page 133 of 271 Chair Received an up-date on Capital Projects Received an up-date on the Working Group on Responsible Investing
At its meeting on May 20, 2015, the Committee:
Received a report from the President on advocacy activities Considered the proposed 2014-15 Preliminary University of Guelph-OMAF & RA Budget [Item 7b] Reviewed and recommended approval of the 2015 Audited Financial Statements for the University of Guelph-Humber [Item 8b] Engaged in a debrief discussion about the 2014-15 budget planning process Received report on policies pertaining to internally-restricted funds and related control measures Gave further review to the University’s most recent credit agency reports and related materials of relevance to financial health indicators [see on-line supporting documents] Reviewed the Expendable Funds Portfolio, Cash Activity and Borrowing Update Annual Report [see on-line supporting materials] Reviewed and recommended approval of various capital projects and land transactions [Item 7c] Reviewed the new Capital Debt Policy, following its first year of application Received the report prepared for PRPC concerning approved major capital projects (above $2 M) Considered recommendations arising from the annual review of the “Endowment Investment Policy” [item 7d] Reviewed the General Endowment Fund Management Policy Received a report on the recent endowment-related activities of the Investment Subcommittee Received an update report on fundraising activities and considered the proposed 2015- 16 fundraising target [to be addressed in Closed Session] Received the annual gift acceptance report [see materials for Closed Session] Received an update on the progress of the Working Group on Responsible Investing Received annual report on the code of conduct for suppliers [see on-line supplementary materials] Reviewed the results of the Committee’s 2015 annual evaluation survey Completed the annual review of the Committee’s terms of reference & 2015-16 agenda plans
ii) Proposed Joint (CSA/Board) Advocacy Letter
Further to presentation at the Finance Committee of a CSA proposal for an advocacy letter that is signed jointly with the Board of Governors, the Committee considered a draft prepared by the CSA (enclosed). During the discussion about the proposal, it was clarified that the Committee could not endorse the CSA position calling for a tuition freeze and/or elimination of tuition but that joint advocacy on some other areas of strong convergence might usefully be explored.
The Committee asked that the University Secretary, working with the University Administration, offer the CSA an alternative draft joint advocacy letter for its consideration.
Report from the Committee Page 134 of 271 Chair
The draft letter that was offered to the CSA for consideration on March 27, 2015 is also enclosed. It outlines two proposed points of convergence that were highlighted during the February Finance Committee discussion: continued enhancement of programs to provide students with financial assistance and continued enhancement of basic operating grants for Ontario universities. In offering it, the CSA was advised that the University Administration remained open to suggestions for refinement of the language if it might contribute to joint endorsement of an advocacy letter.
The approach suggested left room for the CSA, if it still wished to do so, to send a letter of its own, independent of the Board, calling for a freeze in tuition fees.
An initial meeting of Mr. Miller, Ms Menezes, Brenda Whiteside and Vicki Hodgkinson took place on March 30, 2015. At this meeting, Mr. Miller and Ms Menezes indicated they wished more time to think about the draft and consider whether/what changes might allow the CSA to support its presentation to the Board as a proposed joint advocacy initiative. No further draft was received from the CSA.
Subsequently, as a result of discussions at the April 26, 2015 meeting of the Board of Governors, an advocacy letter, signed by the Board Chair and President was sent to the Minister of Training, Colleges and Universities. (See materials provided in support of item 3c, Business Arising)
The current membership of the Finance Committee is as follows:
Shauneen Bruder, Chair Earl Ellis Effie Gatsinos Paul Gallagher Anne Laarman Andrew Marsh Byron Sheldrick Daniel Troster Dick Freeborough Franco Vaccarino Vicki Hodgkinson (University Secretary; non-voting)
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Report from the Committee Page 135 of 271 Chair Page 136 of 271 (1INIVE ITY MGUELH UNIVERSITY SECRETARIAT
CHANGING LIVES IMPROVING LIFE To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 7. Finance Committee Report
Meeting: Thursday, June 4, 2015
b) Proposed 2015-16 Preliminary University of Guelph-OMAF & RA Budget
The enclosed budget proposal and multi-year plan with regard to the annual University of Guelph- OMAF &RA budget was considered by the Finance Committee at its meeting on May 20, 2015 and is presented with the Committee’s support for Board approval.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the University of Guelph – Ontario Ministries of Agriculture & Food and of Rural Affairs 2015-16 Preliminary Operating Budget, as presented.
n:\bog\bog meetings\2014-2015 meetings\meeting packages\june 4 2015\open session\cover memos\item 7b_omaf & ra budget.docx
Proposed University of Guelph - Page 137 of 271 OMAF & RA 2015-16 Page 138 of 271
NW TV
University of Guelph OMAFRA Agreement 2015/2016 Preliminary Budget
For the Board of Governors 5/20/2015
Proposed University of Guelph - Page 139 of 271 OMAF & RA 2015-16 University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget
Contents A: The OMAFRA Agreement...... 2 B. Summary of Budget Assumptions for 2015/2016 ...... 3 Key Revenue Assumptions ...... 3 Key Expenditure Assumptions ...... 3 Regional Campus Consolidations: ...... 4 C. Major Program Groups ...... 5 Major Program Changes ...... 6 Appendices ...... 6 Appendix D.1 OMAFRA Agreement – Major Program Funding ...... 7 Appendix D.2; Table of Preliminary 2015/2016 Budget, By Unit and Major Expense Category: ...... 8 Notes to Appendix D.2 ...... 9 Appendix D.3 – Table of 2014/2015 Pre Audit Results, Net Expenses by Unit ...... 10 Appendix D.4 – Table of OMAFRA Funded Full Time Equivalents (FTE’S) ...... 11 Notes to Appendix D.4 ...... 12 Appendix D.5 – OMAFRA Supported Research Facilities ...... 13
1
Proposed University of Guelph - Page 140 of 271 OMAF & RA 2015-16 University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget
A: The OMAFRA Agreement Since its formation in 1964, the University of Guelph has had a unique relationship in the province with OMAFRA (Ontario Ministry of Agriculture, Food and Rural Affairs) in which research and other services are provided to the agri-food sector in the province of Ontario. This relationship which supports major structural components of the University’s research enterprise is reflected in a contract (the Agreement) between the University and OMAFRA which commits OMAFRA funding levels and details the University’s operational responsibilities. On April 1, 2008 the Agreement was renewed for a ten year period (to March 31, 2018) subject to a (mid-term) five year review which was completed in 2013. This review was completed successfully with a strong commitment by OMAFRA to continue funding levels over the balance of the contract period.
Activities covered in the Agreement include; the operation of two major animal health and food testing laboratories located in Guelph; managing extensive agri-food research facilities across Ontario; supporting veterinary clinical education; and providing a significant source of faculty-based research grants funding across a wide range of disciplines and commodities.
Under the terms of the OMAFRA Agreement all resources, including any income earned from the use of the OMAFRA supported facilities are managed as a segregated, self-supporting fund within the University’s consolidated operating fund. All program revenues received are restricted for purposes under the terms of the Agreement and are reported separately within the University’s OMAFRA Agreement Operating Budget. OMAFRA Agreement Revenue Sources While the OMAFRA Agreement is segregated for (2015/Z016 Total of $93.1M) accounting and reporting purposes, the level of funding and the nature of expenses supported also mean the OMAFRA relationship is both complex and critical in the Laboratory University’s overall multi-year planning. At the University Revenues, level, the OMAFRA contract generates $93.1 million in $13.4, 14% total revenue1 (refer to the chart). Within the University Program this funding provides; Annual Provincial Revenues‘ • 13% of total University revenues $41 5% Transfer, ' • 35% ($57 million annually) of total research funding. 77% $713 ' Investment • 12% of the total University faculty and veterinarian Income, positions (89 FTE’s in total). $0.3 , 0% • 13% of the total University regular non-faculty Provincial - appointments (685 support staff positions). Minor • $10.5 million for Guelph campus indirect support Capital, $4.0 , 4% costs (physical plant, library and administration) • $5.2 million in support of the OVC veterinary clinical education programs (VCEP). • $24 million for supporting major research stations and regional campuses across the province (refer to Appendix D.5)
1 The “Annual Provincial Transfer” of $71.3M provides the structural core funding for agreement programs. “Laboratory” and “Program Revenues” are earned from services provided under the Agreement to external clients e.g., lab testing and the sale of commodities from farm operations. ”Provincial Minor Capital” are funds designated for maintaining provincially owned facilities managed within the Agreement.
2
Proposed University of Guelph - Page 141 of 271 OMAF & RA 2015-16 University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget
B. Summary of Budget Assumptions for 2015/2016 The following is a summary of the major assumptions used for the preparation of the OMAFRA budget for 2015/2016.
Key Revenue Assumptions • No change in provincial funding for operations: the annual transfer for major programs will total $71.3 million, the same level as last year. • Provincial funding for minor capital programs will remain at $4.0 million • Reduction in program revenues (sales of commodities and services) of $0.765 million at the Kemptville and Alfred regional campuses as a result of consolidating education and research programs to other locations in Ontario. (While the consolidation has not yet been fully completed, savings will more than offset this revenue decline).
Key Expenditure Assumptions • Salary and benefit costs OMAFRA Expense by Type assumptions reflect those used (2015/2016 Total of$93.1M) within the University’s overall MTCU Operating Budget (approved in April 2015) and contain provisions for increases Minor Capital Repairs for University employee groups $4.0 5% charged to the Agreement. It is Indirect estimated that total cost Support to increases associated with compensation will be $0.815 million in 2015/2016. • For direct non-salary expenses, such as direct infrastructure costs (e.g., variable operating expenses on the research stations), $13.0 14% increases will be covered through either efficiencies, increases in net program revenues or support from unallocated funds within the Agreement total funding envelope (refer to next bullet). • In 2013 Agreement review, $2.5 million was identified to help support future cost increases at research stations and facilities and research program personnel. A portion of these funds in combination with both cost savings across all colleges and divisions, and program revenue increases particularly in the Laboratory Services division will be sufficient to cover any cost increases in 2015/2016. • There is no expected changes to the “fixed “ contributions of the Agreement that will be transferred to the MTCU Operating budget: o $8.9 million toward 55 FTE’s of faculty research. o $4.1 million of the VCEP $5.2 million envelope towards 11 FTE’s faculty plus staff in the teaching hospital. o $10.5 million for the indirect costs of research and services.
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Proposed University of Guelph - Page 142 of 271 OMAF & RA 2015-16 University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget
Regional Campus Consolidations: On March 12, 2014, the University announced a consolidation of the educational and research programs offered at regional campuses from the Kemptville and Alfred locations to both the Guelph main campus and Ridgetown college. The objective of this consolidation is to strengthen core programs through improved efficiency and reinvestment of savings at other facilities (Guelph and Ridgetown).
The implementation of this consolidation is not complete. To date notifications of job loss to approximate 155 employees at the locations have been issued however limited operations will continue over the course of the next year as special funding from MTCU has been provided to keep certain educational apprentice programs running another year. In addition, plans have not been finalized on the disposition of the properties (owned by the province).
The OMAFRA Agreement funding totalling $7.08 million2 for both Kemptville and Alfred consists of provincial funding of $5.26 million and $1.82 million in program revenues e.g., milk and other commodity sales. Because most of this funding is allocated toward the operating expenses of the properties, the immediate fiscal impact of the consolidation is therefore limited given the need to continue to operate basic services for another year. The OMAFRA funding released of approximately $0.830 million currently remains within the OAC budget for reallocation within the current Agreement guidelines and priorities.
The Tables below summarize the estimated (before and after) impact of the consolidations in the fiscal year 2015/2016. Over the longer term decisions will need to be made regarding the final disposition of the properties and all remaining residual program commitments and funding.
Before Alfred Kemptville Total Provincial Funding $1.12 $4.14 $5.26 Program Revenue $ 0.34 $1.48 $1.82 Total Funding $1.46 $5.62 $7.08
After Alfred Kemptville Transfers Total Provincial Funding $0.92 $2.27 $1.24 $4.43 Program Revenue $ 0.10 $0.79 $0.17 $1.06 Total Funding $1.02 $3.06 $1.41 $5.49
Changes In Funding Sources Alfred Kemptville Total Provincial Funding Released $0.10 $0.73 $0.83 Program Revenue Decrease $0.24 $0.52 $0.76 Total Funding Decrease $0.34 $1.25 $1.59
2 There is an additional $8.2 million in revenues from other (non-OMAFRA Agreement) funds earned at those locations from diploma and continuing education programs. While most of these revenues will no longer be earned, it is currently estimated that about $1.7 million in funds will be released for other purposes as a result of this consolidation.
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C. Major Program Groups All funding allocations in the OMFRA contract are managed within major “program” groups. These programs are created around major provincial funding priorities and are the major focus of all reporting to the ministry. The chart below shows the current projected distribution of funding by major program group for 2015/2016. It is not expected that there will be major changes to this distribution in this fiscal year OMAFRA Program Allocation (2015/2016 Total of$93.1M)
Competitive Proiect Awards $9.4 10%
Faculty $10.2 11% Research 557-352% Research Staff and Infrastructure $27.2 29%
Indirect $10.5 11%
VCEP* _ $5.2 6% _ _ Minor Capital
“ R9P3l|'5 54-04% VCEP - Veterinary Clincal Education Program
“Research” includes: o “Competitive Project Awards” - $9.4 million allocated as research operating grants to high priority research projects in 8 themes o “Faculty” - $10.2 million to support approximately 63 FTE’s (full-time equivalents) for researchers at the University (Includes a fixed contribution toward 55 FTE’s of $8.9 million plus $1.3 million 8 FTE’s funded directly.) o “Research Staff and Infrastructure” - $27.3 million in costs for operating major research facilities across Ontario. o “Indirect” - $10.5 million for indirect support costs to the Guelph main campus for all programs. • “VCEP” is designated for funding the operation of the veterinary teaching hospital, advanced clinical training and an externship for DVM students through the Ontario Veterinary College (OVC). • “Laboratory Services” include two major units; Agri Food and Animal Health, which generate about 50% of their total funding through sales of testing services. • “Minor Capital Repairs” are high priority maintenance costs at provincially owned facilities.
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Proposed University of Guelph - Page 144 of 271 OMAF & RA 2015-16 University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget
Major Program Changes 2015/2016 OMAFRA budget is based on the on-going objective of maintaining a balanced structural budget. As indicated earlier, with a self-funded model based on essentially fixed provincial transfers, the most significant operational challenge is to cover annual cost increases for both compensation and operating costs within essentially fixed funding envelopes. The Table below summarizes the changes among the major program groupings.
Overall the reallocations reflect the increase in research project operating including $0.300 million for the Commercialization research theme and the net reductions of about $0.700 million in program revenues and expenses at the Alfred and Kemptville locations.
Major Program Group 2014/2015 2015/2016 Expected Allocations ($ millions) Budget Preliminary Changes Research Projects1 9.1 9.4 0.3 Research Faculty2 10.2 10.2 - Research Staff and Infrastructure 28.2 27.2 (1.0) Research Support- Indirect3 10.5 10.5 - VCEP4 5.2 5.2 - Laboratories 26.6 26.6 - Minor Capital5 4.0 4.0 - Total Funding 93.8 93.1 (0.7) 1. Project-based funding under seven research themes as well as support for graduate student support (HQP) and research mobilization (KTT). 2. Includes $8.9 million in a fixed annual transfer into the MTCU Operating budget as a contribution toward 55 faculty FTE’s. 3. This is a fixed annual transfer into the MTCU Operating budget toward funding the indirect costs of OMAFRA research. 4. Veterinary Clinical Education Program includes $1.9 million in a fixed annual transfer into the MTCU Operating budget for 11 faculty FTE’s and $2.2 million for teaching hospital staff. 5. Minor Capital funding is adjusted each year based on facility repair needs and program priorities determined by ARIO in consultation with University management.
.
Appendices
The following appendices provide further context and detail on the OMAFRA Agreement for 2015/2016.
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Proposed University of Guelph - Page 145 of 271 OMAF & RA 2015-16 OMAF & RA 2015 Proposed University of Guelph
University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget In Thousands of Dollars Appendix D.1 OMAFRA Agreement – Major Program Funding Table D.1 shows a summary of the major grant allocations, other revenues earned from program activity (i.e., lab testing revenue, produce and milk
- sales), the purpose and any restrictions on the funds, FTE’s (473 full time, 159 temporary appointments) associated with the program (Faculty, Staff and 16 Temporary Appointments including students) and a discussion of risk factors and limitations related to the program.
Program Provincial Prog. Purpose/Restriction Positions Risks/Limitations Funding Rev. Fac/ Staff Temp. Total Vets FTE’s
- OMAFRA – Core All program envelopes in the OMAFRA core
(Fund 110) agreement are fixed shares of the $71.3 million Research Programs $9.4 Research project operating awarded to Faculty (7 56 56 Incremental costs require internal reallocations or themes, HQP and KTT) fall primarily to the MTCU core budget Research Faculty $10.2 Funding for 55 faculty at the Guelph campus based 63 63 Incremental costs fall to the MTCU core budget on a fixed dollar pool and balance at Ridgetown Research $22.8 $4.4 Facilities and operations for 14 Research stations and 170 46 216 Incremental costs can be partially offset by sales of Infrastructure the 3 regional campuses including staff salaries, produce and user fees or require internal benefits, program operating and space reallocations. (maintenance, utilities) Indirect Support $10.5 Funds provided to the MTCU budget for indirect Amount is increased or decreased according to costs of research (space, library etc) and central changes in OMAFRA core grant. Represents less than admin. support to all programs and locations 20% of direct costs of research which is below the typical indirect support rates of up to 40% Labs – AHL, AFL $13.2 $13.4 Regulatory, diagnostic and analytical testing services 14 188 54 256 Incremental costs are covered by increased testing provided by the Agri Food Lab (AFL) and Animal revenue from non-OMAFRA clients. Health Lab (AHL) VCEP $5.2 Restricted to OVC for veterinary clinical education. 12 26 3 41 Incremental costs fall to the MTCU - program budget Funding for all positions is based on fixed dollar is totally allocated to the OVC. “pools”. TOTAL Core $ 71.3 $ 17.8 89 384 159 632 Page 146 of 271 Funding OMAFRA – Minor $4.0 For jointly approved facility repairs and upgrades Awarded annually. One-time funds received on a Capital Investment Focussed on animal care standards and research claim basis for approved project. Large inventory of health and safety. facilities and land base to be maintained. TOTAL OMAFRA $ 75.3 $ 17.8 89 384 159 632 Agreement
7 OMAF & RA 2015 Proposed University of Guelph University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget In Thousands of Dollars
Appendix D.2; Table of Preliminary 2015/2016 Budget, By Unit and Major Expense Category: Agreement Base Budget One Time Allocations Total (A) (B) (C) (D) (E) (F) (G) (H) (I)
- Revenues Total Faculty Operating Dept Cost Total Base 2015/2016 2014/2015 Total 16 Personnel Pool Costs Recovery Budget Minor Capital Pre Audit Preliminary Agreement Revenues Projects Results Budget Provincial Funding - Current Year 71,300 - - - - 71,300 71,300 Minor Capital Funding - - 4,000 4,000 Program Revenue 17,793 - - - - 17,793 17,793
- Revenue Deferred from Prior Years 32,904 32,904 Total Agreement Revenues 89,093 - - - - 89,093 4,000 32,904 125,997 Teaching Units College of Biological Science 62 883 - - 945 257 1,202 College of Social & Appl. Human Science 16 42 - - 58 117 175 College of Business & Economics 27 354 - - 381 64 445 OAC Guelph 3,583 5,008 1,135 (245) 9,481 2,919 12,400 Alfred Campus 399 - 659 (39) 1,018 250 30 1,298 Kemptville Campus 1,239 - 2,041 (216) 3,064 250 670 3,984 Ridgetown Campus 4,132 - 1,633 (1,071) 4,694 1,750 987 7,431 Northern/Eastern Stations 980 - 215 - 1,195 250 241 1,686 Total: Ontario Agricultural College - 10,332 5,008 5,683 (1,570) 19,453 2,500 4,847 26,800 Ontario Veterinary College - Research 472 1,940 - - 2,412 893 3,305 Ontario Veterinary College - VCEP - 1,900 3,300 - 5,200 303 5,503 Coll of Physical & Engineering 134 673 - - 807 468 1,275 Total Teaching Units - 11,042 10,800 8,983 (1,570) 29,255 2,500 6,949 38,704 Support Units and Services Guelph Stations/Animal Facilities 6,745 - 4,738 (176) 11,308 1,500 1,598 14,406 AVP Agrifood / Facilities O&M 222 - 246 - 468 1,859 2,327 Page 147 of 271 Lab Services Division (AHL and AFL) 19,449 - 8,879 (1,743) 26,586 5,591 32,177 Central Support Costs - - 10,500 - 10,500 - 10,500 Research Project Multi Year Awards - 9,450 - 9,450 11,323 20,773 Central Contingency & Inflation Reserve - - 1,527 - 1,527 5,584 7,111 Total Support Units and Services - 26,417 - 35,340 (1,918) 59,838 1,500 25,955 87,293
Total Agreement Expenses 37,459 10,800 44,323 (3,488) 89,093 4,000 32,904 125,997
Net Agreement Budget 89,093 37,459 10,800 44,323 (3,488) 0 0 0 0
8 OMAF & RA 2015 Proposed University of Guelph
University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget In Thousands of Dollars
Notes to Appendix D.2
- Column A: Total Base or Core revenues of $89.093 million include both agreement advances from OMAFRA and revenues within units. Program revenues are external cash 16 charges for services provided by agreement locations primarily through the sale of goods and services.
Column B: Total Personnel includes the salary and benefit costs for all faculty and staff charged directly to OMAFRA projects including approximately 380 FTE’s of regular full- time positions (see table D.4).
Column C: Faculty Pool Costs are fixed transfers to the MTCU budget in support of faculty effort on research projects (55 FTE's) and VCEP (10.9 FTE's). -
Column D: Operating expenses include all non-personnel expenses including travel, utilities, supplies and facility maintenance.
Column E: Dept Cost Recovery are non-cash transfers based on inter-departmental services provided such as laboratory test to other University departments and administration services recovered from MTCU at regional campus locations.
Column F: Total Base Budget is the total revenues and total departmental expenses less cost recoveries for each major unit for the base portion of the Renewed Agreement. This amount is before the one-time minor capital allocations and the pre-audit estimates of 2014/2015 net operating results (See Col G, H,).
Column G: The proposed allocation for Minor Capital projects represents additional funds from OMAFRA in support of jointly approved renovations and repairs to facilities and equipment at provincially owned properties managed by the University under the Agreement. The 2015/2016 allocations include contingency funds at the Alfred and Kemptville locations for emergency repairs and securing facilities and equipment.
Column H: The total $32.900 million in funds projected (pre audit results) at the end of 2014/2015 from agreement revenues deferred for committed projects and laboratory capital equipment planning in subsequent years. (see appendix D.3 on the next page for more information).
Column I: The Total Preliminary Budget is the total preliminary 2015/2016 OMAFRA allocation committed for approved agreement projects and programs. Page 148 of 271
9 OMAF & RA 2015 Proposed University of Guelph
University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget In Thousands of Dollars
Appendix D.3 – Table of 2014/2015 Pre Audit Results, Net Expenses by Unit Pre-A udit A ctuals
- Total 16 Plus Deferred Net Annual Revenue/ Ne t Variance 2014/2015 Expenses Revenue from Budget Recoveries A ctuals + (-) Deferred 2013/2014 Institutional Revenues and Recoveries Revenue
Total Provincial Revenues 71,300 71,300 71,300 - - - - Teaching Units - College of Arts (COA) 9 - 12 12 (3) 3 (0) College of Biological Science 1,165 - 1,243 1,243 (78) 335 257 College of Social & Applied Human Sciences 146 - 189 189 (43) 160 117 College of Business & Economics 312 - 475 475 (163) 227 64 OAC - Guelph 13,648 63 13,453 13,390 258 2,661 2,919 Alfred Campus 1,220 495 1,736 1,241 (21) 52 30 Kemptville Campus 3,936 2,191 6,099 3,909 28 884 911 Ridgetown Campus 4,282 2,276 6,329 4,052 230 757 987 Total Ontario A gricultural College 23,086 5,025 27,617 22,592 494 4,354 4,848 Ontario Veterinary College - Research 3,452 - 3,141 3,141 311 582 893 Ontario Veterinary College - VCEP 5,200 18 5,208 5,190 10 293 303 Total Ontario Veterinary College (OVC) 8,652 18 8,349 8,331 321 875 1,196 College of Physical & Eng Science 1,061 5 1,506 1,501 (440) 908 468 Total Teaching Units 34,432 5,048 39,391 34,343 89 6,861 6,949 ------Research Programs - Committed Multi Year Project Awards 1,423 - 0 0 1,423 9,900 11,323 Guelph Research Stations and Animal Facilities 8,710 5,661 14,356 8,695 16 1,582 1,598
Page 149 of 271 AVP Agrifood / O&M Reserves 574 346 562 215 359 1,501 1,859 Laboratory Services Division 13,218 13,612 27,308 13,696 (478) 6,069 5,591 OMAFRA Indirect Costs 10,500 - 10,500 10,500 - - - Total Revenue & Expenses from Operations 68,857 24,668 92,117 67,449 1,408 25,912 27,320
Central Contingency and Inflation Reserves 2,443 - 0 0 2,442 3,142 5,584
Net Income (Expense) 0 95,968 (92,118) 3,850 3,850 29,054 32,904
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University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget Appendix D.4 – Table of OMAFRA Funded Full Time Equivalents (FTE’S) 15/16 11/12 12/13 13/14 14/15 Preliminary Teaching Units OAC Guelph Faculty - - - 0.3 0.8 Staff 42.8 41.7 33.4 33.3 33.3 OAC Guelph Total 42.8 41.7 33.4 33.5 34.0 Alfred Campus Faculty 1.9 1.8 1.9 1.9 0.3 CARG/Staff 11.1 10.9 10.2 10.1 3.4 Alfred Campus Total 13.0 12.8 12.2 12.0 3.7 Kemptville Campus Faculty 1.4 1.1 1.2 0.9 0.3 CARG/Staff 33.5 35.4 35.4 32.5 9.2 Kemptville Campus Total 34.8 36.5 36.5 33.4 9.5 Ridgetown Campus Faculty 5.9 7.0 7.1 7.1 7.1 CARG/Staff 33.9 32.2 32.0 32.0 33.0 Ridgetown Campus Total 39.8 39.2 39.0 39.0 40.0 Northern / Eastern Stations Staff - - - - 12.7 Ontario Veterinary College - Research Total - - - - 12.7 Ontario Veterinary College - Research Staff 9.5 8.5 7.8 7.5 7.5 Ontario Veterinary College - Research Total 9.5 8.5 7.8 7.5 7.5 College of Physical & Eng. Services Staff 1.3 1.3 1.3 1.3 1.3 College of Physical & Eng. Services Total 1.3 1.3 1.3 1.3 1.3 Teaching Units Total Faculty 9.1 10.0 10.1 10.1 8.4 CARG/Staff 132.1 130.0 120.0 116.6 100.3 Total 141.2 140.0 130.2 126.7 108.7
Other Programs And Services Guelph Research Station Operations Staff 67.1 66.1 65.8 69.7 70.0 67.1 66.1 65.8 69.7 70.0 Lab Services Division (AHL and AFL) Faculty 16.0 15.6 14.2 13.6 13.6 Staff 169.5 178.8 183.5 187.2 187.7 185.5 194.4 197.7 200.8 201.3 Other Programs And Services Total Faculty 16.0 15.6 14.2 13.6 13.6 Staff 236.7 244.9 249.3 257.0 257.7 Total 252.7 260.5 263.5 270.6 271.3
TOTAL Faculty 25.1 25.6 24.3 23.7 22.0 CARG/Staff 368.8 374.9 369.3 373.6 358.0 Grand Total 393.9 400.5 393.6 397.3 380.0 Excludes Research and VCEP Faculty and Staff supported by cost transfer to the MTCU Budget (See Note #2)
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Proposed University of Guelph - Page 150 of 271 OMAF & RA 2015-16
University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget
Notes to Appendix D.4:
FTE: Full Time Equivalents measuring budgeted positions for full time faculty, CARG and staff charged directly to the OMAFRA Agreement.
Table D.4 contains the FTE’s counts by organizational unit detailing Faculty, Veterinarian, CARG and Staff positions for the fiscal years 2011/2012 to 2015/2016 (Preliminary). FTE’s are the budgeted positions for full time faculty and staff directly charged to the OMAFRA agreement. In addition the agreement supports Faculty positions in the MTCU budget by a fixed cost transfer
Notes:
1. The total direct funded positions in the preliminary budget for the renewed OMAFRA agreement totals 380 budgeted full-time positions for 2015/2016. In addition there is support for positions by fixed transfer to the MTCU budget where the base costs for the positions are covered by the OMAFRA agreement but all salary and benefit inflation falls to the MTCU budget. This includes support for 26 FTE of Staff positions in the OVC Health Sciences Centre. There are also a total of 67 Faculty and Veterinarian positions. With the indirect positions, the total 2015/2016 effort for full time positions in the OMAFRA agreement totals 473 full time equivalents (490 in 2014/2015).
2. In total there is support of 89 FTE’s of Faculty and Veterinarian full-time positions in the OMAFRA budget. (Refer to the table below).
Of these 89 FTE’s, 14 are Veterinarian positions in Lab Services and 8 are Faculty positions at the three regional campuses of OAC. The actual salaries and benefits for these positions are charged directly to OMAFRA funds. In addition there are 12 VCEP faculty and veterinarians and 55 research faculty supported by fixed transfer (pooled) to the MTCU Budget.
OMAFRA Funding for Lab Regional OAC OVC OVC Other Total Faculty/Veterinarian FTE’s Services Campuses Guelph Research VCEP Colleges Veterinarian – Direct 14 14 Faculty - Direct 8 8 Veterinarian –“Pool” 1 1 Faculty – “Pool” 36 9 11 10 66 Total FTE’s 14 8 36 9 12 10 89
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Proposed University of Guelph - Page 151 of 271 OMAF & RA 2015-16
University of Guelph OMAFRA Agreement – 2015/2016 Preliminary Budget Appendix D.5 – OMAFRA Supported Research Facilities The OMAFRA Agreement supports the operations of a number of real properties across the province. Under the Agreement the University is responsible for the day to day operation of these facilities (the University does not own the properties.). These include a wide variety of buildings used as residences, research labs, barns and administrative offices located on 6,600 acres of land. More specifically these facilities consist of:
1. Those owned by the Agricultural Research Institute of Ontario3 across Ontario including: • 3 regional campuses of the OAC (Ontario Agricultural College) at Alfred and Kemptville, both located near Ottawa, and Ridgetown in south-western Ontario, • 14 agricultural research stations located across Ontario. 2. A Laboratory Services building in Guelph owned by the Province; the responsibility for operations and maintenance of the Laboratory Service building remains with the province.
OMAF RAResearch Stations
Kemgtville intludes Winchester uelph intludes Alma, Elora, Ponsonby Rid§9‘°W"' Guelph, Arkell includes: Cedar Springs H‘"°" ' Vine|and
Woodstock
$24 million or 25% of total Agreement revenue is allocated for the day-to day operations of these facilities. This funding consisted of program revenues of $4.3 million derived mainly from farm operations with the balance of $19.8 million from provincial transfers. Costs range from basic utilities to farming operations costs such as staff, supplies and minor renovations. In addition, for ARIO-owned properties, the costs of minor capital projects are funded by a $4.0 million annual transfer from ARIO. Priorities for capital project spending under this fund are determined as part of a joint (OMAFRA, ARIO and University) planning process where priorities are health and safety, animal care, energy efficiencies and program effectiveness.
3 ARIO is a services agency reporting to the Minister of OMAFRA. It is provincially incorporated under the ARIO Act (1962). In 2007/2008, the province transferred ownership of most of the facilities (excluding the Laboratory Services building in Guelph) to ARIO. At the same time, OMAFRA amended the Agreement transferring the responsibility for buildings operations and maintenance to the University. Responsibility for the Laboratory Services building in Guelph remains with the province, through Infrastructure Ontario. 13
Proposed University of Guelph - Page 152 of 271 OMAF & RA 2015-16 UNIVERSITY SECRETARIAT
To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 7. Finance Committee Report
Meeting: Thursday, June 4, 2015
c) Recommendations on Capital Projects and Land Transactions
At its meeting on May 20, 2015, the Finance Committee considered the materials provided to the Physical Resources and Property Committee (PRPC) with regard to the new capital projects and land transactions noted below (see item 6c). Building on PRPC’s support for approval of the projects and following consideration of the proposals from a financial perspective and in relation to disposition of the University’s land assets, the Finance Committee is also recommending Board of Governors approval of these initiatives.
i) Re-location of the Guelph Turfgrass Institute
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that the University Administration be authorized to proceed with the re-location of the Guelph Turfgrass Institute to the University of Guelph Arboretum according to the approach presented to the Physical Resources and Property Committee on May 13, 2015, subject to the following:
(a) that the University Administration present detailed design drawings for the facilities consistent with the overall conceptual design for the review and approval of the Physical Resources and Property Committee; and (b) that the Board of Governors reviews and approves the final site plan, environmental plan, and business plan for the re-located Guelph Turfgrass Institute; and (c) that the University Administration be hereby authorized and directed to do all acts and things as may be necessary and desirable to advance the activities contemplated herein, and that any two Officers of the University are hereby authorized to execute and deliver any and all documents which, in their opinion, are necessary or desirable to give effect to the foregoing; and,
Recommendations on Capital Page 153 of 271 Projects and Land Transactions
(e) that any material changes to the proposed approach to the Guelph Turfgrass Institute re-location be brought back to the Board of Governors for consideration following the normal capital project review and approval processes.
ii) Alumni Stadium Addition
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that the University Administration be authorized to proceed with the addition of a Football Pavilion to Alumni Stadium at a total project cost not to exceed $5,000,000; and
FURTHER RESOLVE, That authorization for this project includes the following additional provisions: (a) That the project proceeds on the basis of the schematic design as presented to the Physical Resources and Property Committee on May 13, 2015; and (b) That the University Administration be required to present detailed design drawings for the project consistent with the overall schematic design presented to the Physical Resources and Property Committee on May 13, 2015; and (c) That the University Administration is hereby authorized to determine on behalf of the Board of Governors decisions concerning appointment of architects and consultants in a manner consistent with relevant University purchasing and tendering policies; and (d) That the University Administration is hereby authorized and directed to do all acts and things as may be necessary and desirable to complete the transaction contemplated herein, and that any two Officers of the University are hereby authorized to execute and deliver any and all documents which, in their opinion, are necessary or desirable to give effect to the foregoing; and, (e) That the Physical Resources and Property Committee and Finance Committee receive regular updates regarding the implementation including the project budget, design and materials, and completion schedule; and, (f) That any material changes to the above-described project be brought back to the Board of Governors for consideration following the normal capital project review and approval processes.
Recommendations on Capital Page 154 of 271 Projects and Land Transactions
iii) Stone Road East Easement
The Board of Governors is asked to,
RESOLVE, That, the Board of Governors accept and approve that a 5 meter by 12 meter permanent easement at the southwest corner of Stone Road East and Village Green Drive be conveyed to the City of Guelph, subject to the following conditions: that the salient points of the conveyance agreement are consistent with those set out in this memorandum to the Physical Resources and Property Committee dated May 13, 2015; that any two Officers of the University be authorized on behalf of the University to execute and deliver any and all documents as may be approved by legal counsel to the University, with such non-material alterations, amendments, deletions, or additions as may be approved by the Officers executing same and that execution shall be conclusive evidence of such approval; and that the University Administration report back to the Physical Resources and Property Committee on the details of the agreement and provide a summary of the outcome of the transaction to the Board of Governors.
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Recommendations on Capital Page 155 of 271 Projects and Land Transactions Page 156 of 271 (1INIVE ITY MGUELH UNIVERSITY SECRETARIAT
CHANGING LIVES IMPROVING LIFE To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 7. Finance Committee Report
Meeting: Thursday, June 4, 2015
d) Endowment Investment Policy – Annual Review
Enclosed is an annotated copy showing proposed amendments to the University’s Endowment Investment Policy. The Policy sets out the Board of Governors’ direction for investment of University of Guelph endowments.
Section 10 of the University’s Endowment Investment Policy specifies that the policy is to be reviewed at least annually. The process begins with the policy’s review by the Investment Subcommittee (May 14). The Subcommittee’s advice is then forwarded for consideration to both the Board of Trustees (viz Heritage Trust endowments) and the Finance Committee (viz the University’s General Endowment Fund).
The University Administration has undertaken an initial review of the document and is proposing some amendments to the Endowment Investment Policy at this time (see enclosed). The proposed changes are considered to be relatively minor:
Section 5: Updating the benchmark indices for the "Infrastructure" and "Universe Bonds" and "Cash" asset classes to reflect the actual benchmarks currently in use.
The proposed amendments have been recommended for approval by the Investment Subcommittee and have also been endorsed for approval by each of the Finance Committee (May 20) and Board of Trustees (May 26).
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the proposed amendments to the Endowment Investment Policy, as presented.
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Endowment Investment Policy - Page 157 of 271 Annual Review [Motion - Page 158 of 271 UjNIVE1LSI
MGUELP Financial Services Page 1 of 9 N.B.: This website changes frequently. Please refer to http://www.fin.uoguelph.ca/uploadFiles/F1220.pdf for the most recent version of this document.
Treasury Policy - FI 22.0 Endowment Investment Policy
Approved: Board of Governors Effective Date : TBDJune 5, 20154 Signature/Position: Associateistant Vice-President, Finance and Integrated Planning
TABLE OF CONTENTS
1. Purpose 2 2. Background 2 3. Governance 2 3.1 Oversight 2 Custodian 3 Investment Managers 3 4. Investment and Risk Management Framework 4 5. Policy Asset Mix and Ranges 5 6. Benchmark 5 7. Permitted Asset Classes 6 Currency Exposure 6 Liquidity 6 8. General Guidelines 6 Derivatives 6 Securities Lending 7 Voting Rights 7 Valuation of Investments 7 Performance Monitoring 8 9. Related Parties and Conflicts of Interest 8 Definition of Related Party 8 Related Party Transactions 8 Conflicts of Interest 9 10.Policy Review 9
Endowment Investment Policy - Page 159 of 271 Annual Review [Motion - UjNIVE1LSI
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1. Purpose This document constitutes the Investment Policy (the “Policy”) applicable to the assets in respect of the General Endowment Fund and the Heritage Fund (the “Endowment Funds”) of the University of Guelph (the “University”). 2. Background The primary objective of the University’s Endowment Funds is to provide a permanent source of funding by investing the principal amount of the gift and making a portion of the total investment return available for spending. In addition, the goal of the University of Guelph’s endowments is to preserve the purchasing power of the endowment account over the long-term. The realization of this objective is achieved in two ways: spending only a portion of total investment returns; and investing in asset classes (e.g., equities) that yield sufficient investment returns to provide inflation-protected spending. For the University’s General Endowment Fund, annual spending is limited to a portion of the total endowment asset value averaged over the most recent moving four-year period and, in the case of the Heritage Fund, annual spending is limited to a portion of the total real investment income averaged over a five-year period.
The General Endowment Fund (GEF) consists of funds mainly from external, non-operating fund sources such as donations and government. The majority of these funds are designated for student aid in the form of scholarships and bursaries. Other designations include research support, endowed faculty chairs, equipment or library acquisitions and special academic activities such as support for visiting lecturers, student semester abroad programs and on-going support toward the operating costs of academic facilities. Spending from the GEF is governed by a Board of Governor’s approved policy that limits annual disbursements in order to preserve capital and the real spending capacity of these funds.
The General Endowment Fund Management Policy is contained under separate cover.
The Heritage Fund was created with the intention that the capital of the fund be held in perpetuity for University of Guelph strategic purposes. The main sources of growth for the Heritage Fund are proceeds of real estate sales, leases from designated properties and investment income earned on the capital of the fund. Spending is designated primarily for special projects of a limited duration.
The primary objective of the Heritage Fund is to grow its capital in excess of inflation over time, in order to grow the amounts available for spending. A second objective is to generate investment return in the near-term which may be spent on approved projects.
The Declaration of Trust for the Heritage Fund is contained under separate cover.
The University’s Endowment Funds are managed as a single pool of investments in a number of different asset classes.
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3. Governance 3.1 Oversight The University through its Board of Governors (the "Board") has ultimate responsibility for the Endowment Funds.
The Board of Trustees of the Heritage Fund was established by the Board of Governors to oversee the investment and growth of the Heritage Fund. The Board has delegated responsibilities with respect to the Heritage Fund to the Board of Trustees which in turn has delegated investment responsibilities to its Investment Subcommittee (the “IS”), a sub-committee established by the Board of Governors. The Board, through its Finance Committee (Terms of Reference) has also delegated investment responsibilities to the IS in respect of the General Endowment Fund. The governing bodies (the “Governing Bodies”) for the Heritage Fund are therefore:
(a) The Board of Governors; (b) The Board of Trustees; and (c) The IS.
and for the General Endowment Fund:
(a) The Board of Governors; (b) The Finance Committee; and (c) The IS.
Terms of Reference for the IS are contained under separate cover; however, major responsibilities of the IS include: • Review and recommend changes to the investment policies including asset allocation and allowable investment classes; • Appoint, review and replace, as necessary, investment managers; and • Monitor and report on investment performance.
In fulfilling its responsibilities, the IS is supported by employees of the University through the Office of the Vice- President Finance, Administration and Risk. In addition, the IS may rely on independent experts for certain aspects of the Endowment Fund’s operations where expert knowledge is required or where a perceived or actual conflict of interest exists.
Custodian The custodian of the Endowment Funds (the “Custodian”) shall be a trust company duly registered in Canada. All investments and assets of the Endowment Funds shall be held by the Custodian.
Investment Managers Assets of the Endowments Funds shall be managed by external investment managers (the “Managers”) as appointed by the IS. Each Manager shall invest the assets of the Endowment Funds, through the Custodian, in accordance with their Investment Manager Mandate and Performance Standards (the “Mandate”).
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4. Investment and Risk Management Framework The following table summarizes the primary considerations that underlie the investment of the Endowment Funds. Topic Assumptions
Asset Mix In managing investment risk, the Endowment Funds should be diversified across a broad range of financial assets. The risk and return characteristics of specific asset classes should be reviewed periodically to determine an appropriate asset allocation for each of the Endowment Funds and its impact on specific investment risk and return metrics (e.g., volatility of spending; likelihood of the Endowment Funds growing in excess of inflation).
Risk Premium In general, higher risk assets are expected to outperform assets with lower risk over long periods of time. Higher risk assets will be included in the policy allocation in a proportion sufficient to generate the desired rates of return, subject to total fund risk constraints.
Risk It is recognized that risk and return are strongly related; and that the returns on the least Diversification risky asset classes will be lower than that of higher risk assets. Less volatile asset classes, such as fixed income, will be included in the portfolio for the purpose of reducing overall risk (volatility) of returns and stabilizing available spending.
Derivatives The use of derivative instruments should be limited to risk mitigation purposes (e.g., limiting currency exposures) and for efficient access to certain asset classes (e.g., index replication) and not for return enhancement. Therefore, hedge fund strategies which rely extensively on the use of derivatives to generate returns are excluded from policy allocation consideration.
Liquidity Less liquid assets are expected to carry a risk premium above more marketable securities to compensate for the lack of liquidity. Accordingly the Endowment Funds may be able to benefit from their long investment horizon by investing in instruments with lower liquidity.
Risk Control Investment activities require making effective decisions in the face of uncertainty. The IS recognizes that significant value comes from avoiding unproductive assets and other problem areas, and keeping permanent impairments to a minimum. An important way to control risk in this context is to hire high quality managers and assigning them mandates with guidelines that ensure risk is properly managed but avoid unnecessary constraints. Also, managers are monitored to reduce the risk of hiring and/or creating managers who charge “active” management fees, but generate returns similar to the index.
Active The IS has a value style bias and consequently the majority of its managers employ a Management Style value style approach to investing. Value investing takes on many forms, but generally Bias means a process for selecting stocks which are trading for less than their intrinsic value. Value style strategies have proven over time to outperform all other styles of investing. The IS recognizes that having a preponderant weighting toward one style can, on occasion, introduce periods of underperformance on a total fund level. Members of the IS acknowledge that achieving superior performance in the long run may require a high tolerance for under-performance in the short run. The IS is therefore prepared to tolerate underperformance for a period of time if a manager’s style is out of favour or market conditions are not hospitable to a certain investment approach. The IS believes that passive investing or indexing is appropriate for certain asset classes and investment cycles.
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5. Policy Asset Mix and Ranges The Target Asset Mix and Permitted Ranges for the Endowment Funds have been determined as set out in the following table. Allocations to Emerging Markets Equities and Infrastructure will be undertaken as suitable opportunities are identified. An “Interim Target Asset Mix” has been established to recognize that it will take a period of time to transition to the Final Target Asset Mix.
. The actual timeline to achieve the Final Target Asset Mix is subject to the availability of suitable products and the time it takes for Infrastructure commitments to become invested.
Percentage of Fund at Market Values Component Asset Interim Final Benchmark Index Permitted Classes Target Target Range Asset Mix Asset Mix Min. Max. Universe Bonds FTSE TMX Canada 27.530 30% 10% 50% DEX Universe Bond % Cash FTSE TMX Canada 0% 0% 0% 20% DEX 91 Day T-Bill Total Fixed Income 27.530 30% 20% 50% %
Infrastructure To Be 50% 7.5% 0% 10% DeterminedCPI+5%
Canadian Equities S&P/TSX Composite 20% 17.5% 7.5% 27.5% U.S. Equities S&P 500 ($Cdn) 25% 20% 10% 30% International MSCI EAFE Net 17.520 20% 10% 30% Equities ($Cdn) % Emerging Markets MSCI EM ($Cdn) 5% 5% 0% 10% Equities Total Equities 67.50% 62.5% 50% 80%
An appropriate investment manager structure will be maintained to implement the Target Asset Mix within the corresponding asset class ranges. If the asset mix deviates outside the permitted ranges at the end of any quarter, the IS will rebalance to bring the asset mix back within the permitted ranges as soon as practical.
6. Benchmark The total fund benchmark is based on a blend of the individual underlying asset class indices in their proportions represented in the Target Asset Mix.
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7. Permitted Asset Classes The Endowment Funds may invest in any or all of the following asset categories and subcategories of investments either directly or through pooled funds or exchange traded funds which hold only these investments. For purposes of this Policy, "governments" includes supranational, Canadian federal, provincial or municipal governments, sovereign issuers and securities guaranteed by these governments.
Equities: Securities publicly traded and listed on recognized stock market exchanges including, but not limited to, common shares, convertible debentures, share purchase warrants, share purchase rights, preferred shares, depositary receipts, interests in limited partnerships, and units of real estate investment trusts (REITS) and income trusts that have limited liability protection by statute. Equity holdings shall be diversified by company, region, industry and country.
Fixed Income: Debt instruments must be issued in Canadian currency and include, but are not limited to, bonds, debentures, mortgages, notes, real return bonds, asset-backed securities or other debt instruments of governments or corporations (public and private) and maple bonds (foreign instruments issued in Canadian currency). With the exception of issues of the government of Canada, fixed income holdings shall be diversified by issuer and industry. The majority of fixed income holdings shall be invested in investment grade debt instruments which are rated A (low) or higher.
Infrastructure: Tangible assets that provide key services to an economy, including transportation, communication, utilities, social services, and business related to those sectors, that are expected to provide long-term stable cash flows. Infrastructure investments shall be held through open or closed-end pooled funds structured as participating debentures, or shares of corporations or limited partnerships formed to invest in infrastructure. Investments shall be focused on mature infrastructure in regulated economic sectors. Direct ownership of infrastructure is not permitted.
Cash or Cash Equivalents: Cash or money market securities issued by governments or Canadian corporations (public and private) with term to maturity of one year or less.
All debt ratings requirements shall be met by a minimum of two ratings issued by Nationally Recognized Statistical Rating Organizations (NRSRO) as defined by the Securities and Exchange Commission.
Currency Exposure Exposure to unhedged foreign currencies shall be limited to approximately 50% of the market value of foreign currency denominated assets of the Endowment Funds.
Liquidity Cash inflows and investment income are expected to be sufficient relative to the expected pay-outs. Liquidity is therefore not an overriding consideration for the Endowment Funds. 8. General Guidelines Derivatives Any use of derivative investments must be in accordance with a program that has been specifically considered and approved by the IS whether done directly in the Endowment Funds or in a pooled fund. Derivative instruments may not be used to create exposures to securities which would not otherwise be permitted under this Policy or which would be outside the limits under this Policy had the exposure been obtained in the cash markets through direct investment. Derivative instruments may be used only to:
(a) Replicate the investment performance of permitted direct investments; (b) Increase the Endowment Funds’ current revenue by selling covered calls; or (c) Manage risk as part of a currency hedging or other hedging strategy;
But in any case may not be used to leverage the Endowment Funds, unless approved by the IS.
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Securities Lending
a) Permitted Circumstances: The IS may lend securities of the Fund as a means of generating incremental income or cash for investment or otherwise supporting an investment strategy. Such loans shall be in writing. When the IS lends securities of the Fund, the document shall provide for the IS’s right to recall the loaned securities.
b) Use of Agents : Management may delegate, through the University’s custodial trustee, to a lending agent the authority to select borrowers, negotiate terms and rates and invest cash or securities collateral under written procedures which specify securities available for loan, pre-approved borrowers, loan terms, and instruments for the investment of collateral as well as administrative, risk management and reporting arrangements.
c) Collateral and Margin Requirements: When the IS lends securities of the Fund as a means of generating incremental income or cash for investment, the following rules shall apply. The IS or its lending agent shall receive from the borrower collateral equal to no less than 105% of the market value of the securities loaned at the time of the transaction. The amount of collateral margin taken shall reflect best practices in local markets. Both loaned and collateral securities must be marked to market daily to account for increases in the market value of the securities loaned or decreases in the market value of the collateral. Shortfalls in the amount of collateral must be rectified by the following business day unless otherwise agreed to in writing. The collateral obtained to secure a loan of securities or any securities purchased with such collateral must be either cash or high quality, readily marketable securities acceptable as a direct investment under the IS’s investment policies. Title to all collateral must be clear.
Voting Rights The responsibility of exercising and directing voting rights acquired through the Endowment Fund’s investments shall normally be delegated to the Manager, who shall at all times act prudently and in the best interests of the Endowment Funds. The Manager shall provide the IS with its proxy voting guidelines and notify the IS of any changes to these guidelines.
The Manager shall maintain a record of how the Endowment Funds’ voting rights have been exercised and provide the IS with quarterly proxy voting results.
In case of doubt as to the best interests, the Manager shall request instructions from the IS regarding the best interests of the Endowment Funds and shall act in accordance with such instructions.
The IS reserves the right to direct, or override, the voting decisions of a Manager, if in its view such action is in the best interests of the Endowment Funds, except for investments held in a pooled fund.
It is recognized, however, that the above constraints and policy on voting rights may not be enforceable to the extent that part of the Endowment Funds are invested in pooled funds.
Valuation of Investments Investment in publicly traded securities shall be valued by the Custodian for the Endowment Funds no less frequently than monthly at their market value.
Investment in pooled funds comprising publicly traded securities shall be valued according to the unit values calculated at least monthly by the Custodian of the pooled funds. The Custodian shall be responsible for requesting and recording the unit values on a monthly basis.
Where a security or asset is publicly traded but not frequently, the Custodian will determine the appropriate market value of the particular security or asset and, in the event of a conflict, the value that the Custodian has determined will be deemed as correct.
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If a market valuation of an investment is not readily available, then a fair value shall be determined at the direction of the IS. For each such investment, an estimate of fair value shall be supplied by the Custodian with input from the Managers no less frequently than quarterly. Such fair value may be determined by reference to the most recent independent expert appraisal or by other means such as risk-adjusted discounted cash flows or comparison with similar assets which are publicly traded. In all cases the methodology should be applied consistently over time.
Performance Monitoring The IS shall review on a regular basis, as needed, and at least quarterly:
(a) The current asset mix of the Endowment Funds relative to the Target Asset Mix and permissible ranges; (b) The investment performance of the Endowment Funds and each Manager relative to the objectives of the Policy and of the Mandates; and (c) Risk measures relevant to the investment of the Endowment Funds.
The IS shall report on their activities and the performance of the Endowment Funds to the Board of Trustees, Board of Governors through the Finance Committee at least twice a year, as at June 30th and September 30th.
The primary focus of Manager performance assessment will normally be on a moving four-year basis, but performance over shorter time periods may also be considered. The Manager will not necessarily be faulted for under-performing the Mandate performance objectives over short time periods.
At least once a year each Manager shall be assessed on the basis of investment performance, risk measures, investment strategies, expected future performance and any changes in the Manager’s organization, investment processes and professional staff.
9. Related Parties and Conflicts of Interest Definition of Related Party For the purposes of this Policy, a Related Party means:
(a) A member of the Governing Bodies; (b) An officer, director or employee of the University; (c) A person responsible for investing the assets of the Endowment Funds, or any officer, director or employee thereof; (d) An association or union representing employees of the University, or an officer or employee thereof; (e) The spouse or a child of any person referred to in any of paragraphs (a) to (d); (f) An affiliate of the University; (g) A corporation that is directly or indirectly controlled by a person referred to in any of paragraphs (a) to (e); (h) An entity in which a person referred to in paragraph (a), or the spouse or a child of such a person, has a substantial investment.
Related Party Transactions The assets of the Endowment Funds shall not be used to invest in securities of Related Parties or lent to any Related Parties unless such securities are publicly traded and selected by a Manager acting independently on behalf of all that Manager’s discretionary accounts or pooled funds having mandates similar to that of the Endowment Funds.
Where applicable, a Manager shall provide the IS with its internal guidelines on purchasing securities of the members of the Manager’s organization or affiliates.
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Notwithstanding the above, the assets of the Endowment Funds shall not be invested in any securities of the University or an affiliate of the University unless such securities are publicly traded, held within a pooled fund, and selected by a Manager acting independently.
Any other transactions with a Related Party can only be undertaken if the transaction is required for the operation or administration of the Endowment Funds and must be on terms and conditions that are not less favourable to the Endowment Funds than the then market terms and conditions.
Conflicts of Interest To assist in identifying real, potential or perceived conflicts of interest and, in so doing, to ease the operation of the Governing Bodies in the conduct of their work, all members of the Governing Bodies are asked each year to review the University’s “Conflict of Interest Policy Regarding Board of Governors, Board of Trustees, and Committees” and to disclose any obligation, commitment, relationship or interest that may conflict or may be perceived to conflict with their duties as a member of a Governing Body.
If any agent of or advisor to the Governing Bodies, or any person employed in the investment or administration of the Endowment Funds not covered under the “Conflict of Interest Policy Regarding Board of Governors, Board of Trustees, and Committees” has or acquires any material interest, direct or indirect, in any matter in which the Endowment Funds is concerned or may benefit materially from knowledge of, participation in, or by virtue of an investment decision or holding of the Endowment Funds, the person involved shall within three business days after the individual becomes aware of the conflict of interest disclose in writing this conflict of interest to the Chair of the relevant Governing Body. The disclosure should also be made orally if awareness of the conflict occurs during the discussion of the Endowment Funds’ business.
The Chair shall then immediately advise all members of the relevant Governing Body, and the Governing Body shall decide upon a course of action. Any such person will thereafter abstain from any decision making with respect to the area of conflict including the exercise of his/her votes, until the issue causing the conflict of interest is resolved independently by the remaining individuals with voting rights.
Every disclosure of interest, with the name of the individual declaring the conflict and how the conflict was resolved, under this Section shall be recorded in the minutes of the relevant Governing Body meeting.
The failure of a person to comply with the procedures, described in this Section, shall not of itself invalidate any decision, contract or other matter.
The IS shall satisfy itself that an appropriate policy regarding conflicts of interest exists and is followed by any Manager appointed by the IS. As a minimum, the Code of Ethics and Standards of Professional Conduct adopted by the CFA Institute shall be expected to apply to such Manager.
10. Policy Review This Policy shall be reviewed at least annually by the Board of Trustees of the Heritage Fund and the Finance Committee of the Board. Such review shall consider, but is not limited to, whether there has been:
(a) A fundamental change in the spending policies of the Endowment Funds; (b) Revisions to the expected long-term trade-off between risk and return on key asset classes; (c) A shift in the financial risk tolerance of the University; (d) Shortcomings of the Policy that emerge in its practical operation; (e) Recommendations by a Manager or third party; or (f) Changes in applicable legislation.
A review of the asset mix policy shall normally be conducted every five years. At any time, the IS may make recommendations as to changes to be made to the Policy. A copy of this Policy, or relevant sections thereof, shall be delivered to each Manager and to the Governing Bodies.
Endowment Investment Policy - Page 167 of 271 Annual Review [Motion - Page 168 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 8. Audit Committee Report
Meeting: Thursday, June 4, 2015
a) Report from Committee Chair
The following is provided for the information of Governors.
At its meeting on March 4, 2015, the Audit Committee:
• Received an update on the activities of the External Auditor • Received an update on the activities of Audit Services, including plans for consideration of implementation of self-audits • Received the “Annual Review of IT Systems Security” prepared by Audit Services for 2014 • Received an update regarding Enterprise Risk Management activities, including an update on continuing consideration by the University’s Enterprise Risk Management Steering Committee of amendments of the University’s “Risk Management Policy” • Received an update on legal affairs • Reviewed the 2014 University of Guelph Audited Pension Plan Statements (as at September 30, 2014) • Reviewed the process for the 2014-15 University of Guelph-Humber audit • Reviewed proposed amendments to the Audit Committee’s terms of reference [see item 9h] • Received information as a follow-up to discussions of a property related matter • Received a reminder concerning the upcoming 2014-15 Board evaluation surveys • Held regular in camera meetings with each of the External Auditors, the Chief Internal Auditor, and the President
At its meeting on May 28, 2015, the Audit Committee:
• Reviewed the University of Guelph-Humber Audited Financial Statements and met with the external auditors from BDO Canada LLP [see item 8b] • Received an update on activities from the External Auditor, and from the Chief Internal Auditor • Received and discussed the Enterprise Risk Management update and 2015 Annual Report [see item 8c] • Received an update on activities related to IT & Information Security • Received an up-date on legal affairs
Report from Committee Chair Page 169 of 271 • Discussed the results of the Committee’s 2015 annual evaluation survey • Reviewed the Committee terms of reference and considered agenda planning for 2015- 16 • Held private meetings with each of the External Auditors, the Chief Internal Auditor and the Officer Responsible for Enterprise Risk Management (i.e., the Vice-President (Finance, Administration & Risk)
The current membership of the Audit Committee is as follows:
Neil Parkinson, Chair Graham Badun Nancy Brown Andison Mary Anne Chambers Peter MacGowan Wendy Millar Dick Freeborough, Board Chair
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Report from Committee Chair Page 170 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 8. Audit Committee Report
Meeting: Thursday, June 4, 2015
b) Audited Financial Statements - University of Guelph-Humber
The Audited Financial Statements for the University of Guelph-Humber are reviewed and approved through the Humber College governance process and, also, through the University of Guelph’s process including review by both the Finance Committee (May 20) and Audit Committee (May 28).
The enclosed Statements were prepared by Humber College in accordance with the agreement between the College and the University of Guelph and were audited by the College’s audit firm, BDO Canada LLP. The external auditors met with the Audit Committee and indicated that they are prepared to provide an unqualified report subject to the successful completion of Humber’s and Guelph’s governance processes.
No concerns with the statements were identified by either Finance, Audit or Humber College.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the University of Guelph- Humber Audited Financial Statements for the fiscal year ended March 31, 2015. .
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Audited Financial Statements - Page 171 of 271 University of Guelph-Humber as Page 172 of 271
University of Guelph- Humber Final Report to the Finance & Administration Committee
May 6, 2015
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IBD
May 6, 2015
Members of the Finance & Administration Committee University of Guelph-Humber 205 Humber College Blvd Toronto, Ontario M9W 5L7
Dear Finance & Administration Committee Members:
We are pleased to present the results of our audit of the financial statements of University of Guelph-Humber (the “University”) for the year ended March 31, 2015. The purpose of our report is to summarize certain aspects of the audit that we believe to be of interest to the Finance & Administration Committee and should be read in conjunction with the draft financial statements and our draft independent auditor’s report which is included as Appendix A.
Our audit and therefore this report will not necessarily identify all matters that may be of interest to the Finance & Administration Committee in fulfilling its responsibilities.
This report has been prepared solely for the use of the Finance & Administration Committee and should not be distributed without our prior consent. Consequently, we accept no responsibility to a third party that uses this communication.
We wish to express our appreciation for the co-operation we received during the audit from the University’s management and staff who have assisted us in carrying out our work. We look forward to meeting with you to discuss the contents of this report and any other matters that you consider appropriate.
Yours truly,
BDO Canada LLP Chartered Professional Accountants, Licensed Public Accountants
/vi
Robert E.J. Wilkes, CPA, CA Partner
University of Guelph-Humber 2
Audited Financial Statements - Page 174 of 271 University of Guelph-Humber as
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TABLE OF CONTENTS
Status of the Audit 4
Independence 5
Materiality 7
Risks and Audit Responses 8
Audit Findings 9
Fraud Discussion 11
Internal Control Matters 12
BDO Resources 13
Appendix A - Other Required Communications
Appendix B – Draft Independent Auditor’s Report
Appendix C - Representation Letter
University of Guelph-Humber 3
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STATUS OF THE AUDIT
As of the date of this report, we have substantially completed our audit of the 2015 financial statements pending the completion of the items highlighted below. These items will need to be completed prior to issuance of our audit report on the financial statements.
FINANCIAL STATEMENTS • Approval of financial statements by the Boards of Humber College and University of Guelph
COMPLETION OF AUDIT • Receipt of signed management representation letter • Subsequent events review through to the financial statement approval date
We conducted our audit in accordance with Canadian generally accepted auditing standards. The objective of our audit was to obtain reasonable, not absolute, assurance about whether the financial statements are free from material misstatement. The scope of the work performed was substantially the same as that described in our Planning Report to the Finance & Administration Committee, dated January 26, 2015.
University of Guelph-Humber 4
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INDEPENDENCE
At the core of the provision of external audit services is the concept of independence. Independence of the independent auditor is crucial in allowing the audit committee and board of governors to fulfill their obligations to oversee the preparation of audited financial statements and monitoring internal controls.
Outlined below are common threats to independence, their possible implications and BDO’s response to maintaining the appropriate level of independence.
Self-Interest Threat • Definition: an audit firm or member could benefit from a financial interest in or self- interest conflict with an audit client. This would include a direct financial interest or investment in an entity, contingent fee arrangements or undue dependence on total fees from an individual audit client. • Implication: reduced skepticism and ability to be impartial if doing so would jeopardize the partner or firm’s financial interest. • Potential responses: refrain from a financial or other significant interest in a client. • BDO Response: BDO takes steps to ensure that partners and staff do not hold financial investments in clients. BDO regularly circulates restricted investment listings and employees are required to provide an annual declaration of independence. BDO has no financial interest in the University, which is confirmed with the audit team members annually. BDO has no contingent fee arrangements with the University and total fees are not significant in relation to the engagement partner’s total revenue. The University represents less than 10% of the engagement partner’s client base, which is generally considered a benchmark for potential independence threats.
Self-Review Threat • Definition: an audit firm or member preparing source documents or making underlying assumptions affecting the financial statements. • Implication: an auditor could be influenced to not criticize the results of work they had performed or recommendations they had made. For example, a firm who prepared the tax provision for a public company client would be subject to a level of self-review threat in that they would be expressing an audit opinion on financial statements which include their own work. • Potential responses: refrain from providing recommendations, journal entries or other information that may impact the financial statements. • BDO Response: BDO does not prepare underlying assumptions or calculations relating to the financial statements. The University’s management consults with BDO concerning courses of action and recommended disclosure, but ultimate decisions are made by the University’s management.
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INDEPENDENCE (cont…)
Advocacy Threat • Definition: an audit firm or member promoting, or being perceived to be promoting an audit client’s position, opinion or financial interests. • Implication: in the context of litigation, supporting a client’s position through valuation or consulting services inherently impairs the auditor’s ability to independently assess the position of management. • Potential responses: do not provide services that promote a client’s position or interests. • BDO Response: BDO is not an advocate for the opinions of the University. BDO advocates for the college/university sector as a whole including working with advocacy organizations, working with the MTCU on behalf of colleges/universities in a variety of forms including participating in industry events. This lobbying is on behalf of all colleges/universities, in co-ordination with college/university leaders from a variety of organizations, and is not related to a specific individual client. This form of advocacy is not an independence threat as contemplated in the independence framework nor is it an actual or perceived threat to independence.
Familiarity Threat • Definition: occurs when, by virtue of a close relationship with an audit client, its directors, officers or employees, a firm or a member of the audit team becomes too sympathetic to the client’s position. • BDO Implication: the auditor may become less likely to challenge management on policies, procedures or judgments if a close working relationship impairs skepticism. • Potential responses: partner rotation, quality assurance (QA) review or involvement from a second partner. • BDO Response: BDO believes that the costs of partner rotation (e.g. loss of continuity of service and the risk of not understanding or identifying implications of older issues on current events) outweigh the benefits for non-public clients. However, BDO mitigates this risk by utilizing the other two responses; QA review and a second partner. All college/university audits have an Engagement Quality Control Review performed in the field by a Quality Assurance Partner who has significant industry expertise. This process achieves two of the three potential responses as noted above. In contrast, it is not uncommon for other firms to utilize a senior manager in the quality assurance role. The QA partner mitigates this threat in two key ways: firstly he does not answer to the engagement partner and challenges the engagement team on significant judgments and key disclosures. Secondly, although he is client facing, he does not have a close relationship with management that may impair his professional skepticism. Release of BDO’s auditor’s report is subject to the approval of the QA partner.
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INDEPENDENCE (cont…)
Intimidation Threat • Definition: occurs when a member of the audit team may be deterred from acting objectively and exercising professional skepticism by threats, actual or perceived, from the directors, officers or employees of an audit client. These may take the form of threats to influence the appointment of auditor. • Implication: the auditor may be less likely to challenge management if there is a perception that their appointment as auditor is contingent on their cooperation. • Potential responses: in-camera discussions between the committee and the auditor and promotion of a proactive attitude amongst the engagement team concerning perceived intimidation. • BDO Response: any perceived actions to intimidate any member of the engagement team are taken extremely seriously and would be reported to the Finance & Administration Committee promptly. BDO encourages annual in-camera discussions with the Finance & Administration Committee where management is not present. If any such instance occurred, BDO would report these threads to the Finance & Administration Committee during these in-camera meetings.
Canadian auditing standards require us to communicate to the Finance & Administration Committee at least annually, all relationships between BDO Canada LLP and its related entities and University of Guelph-Humber and its related entities, that, in our professional judgment, may reasonably be thought to bear on our independence with respect to the audit of the University.
Our annual letter confirming our independence was previously provided to you.
MATERIALITY
Misstatements, including omitted financial statement disclosures, are considered to be material if they, individually or in aggregate, could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.
As communicated to you in our Planning Report to the Finance & Administration Committee, preliminary materiality was $860,000. Final materiality remained unchanged from our preliminary assessment.
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RISKS AND AUDIT RESPONSES
Based on our knowledge of the University’s operations, our past experience, and knowledge gained from management and the Finance & Administration Committee, we have identified the following significant risks; those risks of material misstatement that, in our judgment, require special audit consideration.
Significant risks arise mainly because of the complexity of the accounting rules, the extent of estimation and judgment involved in the valuation of these financial statement areas, and the existence of new accounting pronouncements that affect them.
Grant Revenue and Grants Receivable
Risk Approach Results
Risk is due to the complex funding Audit procedures include All audit testing in this area was formulas employed by the Ministry analytical procedures as well as executed as planned and no errors and the potential for misallocation reliance on other procedures were noted. between accounting periods. performed by the auditors of The University of Guelph.
Tuition Revenue and Deferred Revenue
Risk Approach Results
Risk is due to the large dollars Audit procedures included All audit testing in this area was involved and the potential for analytical procedures as well as executed as planned and no errors misallocation between accounting reliance on other procedures were noted. periods. performed by the auditors of The University of Guelph.
Payroll
Risk Approach Results
Risk is due to the magnitude of Payroll will be tested using a All audit testing in this area was payroll expenditures at the combination of internal controls executed as planned and no errors University. testing and analytical procedures, were noted. including analysis of the instructional fees charged by University of Guelph and Humber College.
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AUDIT FINDINGS
As part of our ongoing communications with you, we are required to have a discussion on our views about significant qualitative aspects of the University’s accounting practices, including accounting policies, accounting estimates and financial statement disclosures. A summary of the key discussion points are as follows:
ACCOUNTING AND AUDIT MATTERS
Work Performed by Other Auditors
We relied on the work of Ernst & Young LLP (EY) relating to certain transactions that are processed at the University of Guelph. These include tuition and grant revenue as well as certain administrative expenses that are incurred at the University of Guelph and are allocated to the joint venture.
SIGNIFICANT ACCOUNTING ESTIMATES
Management is responsible for determining the significant accounting policies. The choice of different accounting policy alternatives can have a significant effect on the financial position and results of operations of the University. The application of those policies often involves significant estimates and judgments by management. Based on the audit work that we have performed, it is our opinion that the estimates in the financial statements are reasonable and the disclosures relating to accounting estimates are in accordance with the requirements of Canadian accounting standards for not-for-profit organizations. Significant estimates include:
Capital Asset Amortization - $234,206 (2014 - $261,645) Capital assets are amortized based on their estimated useful lives. Refer to Note 2 for amortization policy.
Deferred Revenue on Winter Term - $3,340,643 (2014 - $2,843,875) A portion of the winter term’s tuition related to services provided after March 31 is deferred based on an estimate made by management.
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ADJUSTED AND UNADJUSTED DIFFERENCES
No adjusted or unadjusted differences or financial statement disclosure omissions were discovered during the course of the audit.
MANAGEMENT REPRESENTATIONS
During the course of our audit, management made certain representations to us. These representations were verbal or written and therefore explicit, or they were implied through the financial statements. Management provided representations in response to specific queries from us, as well as unsolicited representations. Such representations were part of the evidence gathered by us to be able to draw reasonable conclusions on which to base our audit opinion. These representations were documented by including them in audit working papers memoranda of discussions with management and written representations received from management.
A summary of the representation we have requested from management is set out in the management representation letter included in Appendix C to the report.
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FRAUD DISCUSSION
Canadian auditing standards require us to discuss fraud risk with the Finance & Administration Committee on an annual basis. We have prepared the following comments:
Question to Finance Required Discussion BDO Response & Administration Committee Details of existing Based on our discussions during the Are there any new oversight processes planning of our audit, the Finance & processes or changes with regards to fraud. Administration Committee’s oversight in existing processes processes include: relating to fraud since the date of our • Finance & Administration previous discussions, Committee charters; that we should be • Discussions at Finance & aware of? Administration Committee meetings;
• Review of related party transactions; and
• Consideration of tone at the top.
Knowledge of actual, Currently, we are not aware of any Are you aware of any suspected or alleged actual, suspected or alleged fraud. instances of actual, fraud. suspected or alleged fraud affecting the University?
AUDITOR’S RESPONSIBILITIES FOR DETECTING FRAUD
We are responsible for planning and performing the audit to obtain reasonable assurance that the financial statements are free of material misstatements, whether caused by error or fraud.
The likelihood of not detecting a material misstatement resulting from fraud is higher than the likelihood of not detecting a material misstatement resulting from error, because fraud may involve collusion as well as sophisticated and carefully organized schedules designed to conceal it.
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During our audit, we performed the following procedures in order to fulfill our responsibilities:
• Inquire of management, the Finance & Administration Committee, and others related to any knowledge of fraud, suspected fraud or alleged fraud; • Perform analytical procedures and consider unusual or unexpected relationships indentified in the planning of our audit; • Incorporate an element of unpredictability in the selection of the nature, timing and extent of our audit procedures; and • Perform additional required procedures to address the risk of management’s override of controls including; o Testing internal controls designed to prevent and detect fraud; o Examine a sample of journal entries and other adjustments for evidence of the possibility of material misstatement due to fraud; o Review accounting estimates for biases that could result in material misstatements due to fraud, including a retrospective review of significant prior years’ estimates; and o Evaluate the business rationale for significant unusual transactions.
INTERNAL CONTROL MATTERS
During the course of our audit, we performed the following procedures with respect to the University’s internal control environment: • Documented operating systems to assess the design and implementation of control activities that were relevant to the audit. • Discussed and considered potential audit risks with management. As a result of this review, we noted no significant deficiencies in the design or implementation of the systems conversion process. The results of these procedures were considered in determining the extent and nature of substantive audit testing required.
We are required to report to you in writing, significant deficiencies in internal control that we have identified during the audit. A significant deficiency is defined as a deficiency or combination of deficiencies in internal control that, in the auditor's professional judgment, is of sufficient importance to merit the attention of those charged with governance.
As the purpose of the audit is for us to express an opinion on the University’s financial statements, our audit cannot be expected to disclose all matters that may be of interest to you and, as a result, the matters reported may not be exclusive. As part of our work, we considered internal control relevant to the preparation of the financial statements such that we were able to design appropriate audit procedures. This work was not for the purpose of expressing an opinion on the effectiveness of internal control.
DEFICIENCIES IN INTERNAL CONTROL
During the course of the audit, no significant deficiencies in internal control were identified.
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IBD
BDO RESOURCES
BDO is one of Canada’s largest accounting services firms providing assurance and accounting, taxation, financial advisory, risk advisory, financial recovery and consulting services to a variety of publicly traded and privately held companies.
BDO serves its clients through 95 offices across Canada. As a member firm of BDO International Limited, BDO serves its multinational clients through a global network of over 1,100 offices in 110 countries. Commitment to knowledge and best practice sharing ensures that expertise is easily shared across our global network and common methodologies and information technology ensures efficient and effective service delivery to our clients.
Outlined below is a summary of certain BDO resources which may be of interest to the Finance & Administration Committee.
ASSURANCE AND ACCOUNTING PUBLICATIONS
BDO’s national and international accounting and assurance department issues publications on the transition and application of Accounting Standards for Not-for-Profit Organizations (ASNPO) as well as common differences between ASNPO and Canadian generally accepted accounting principles.
For additional information on ASNPO including links to archived publications and model financial statements, refer to http://www.bdo.ca/library/publications/assuranceandaccounting/index.cfm.
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APPENDIX A – Other Required Communication
Audit Audit Planning Results Auditor Required Communication Presentation Presentation Comments 1. Our responsibilities under Canadian Included in our Auditing Standards (CAS) engagement letter dated January 5, 2015. 2. Our audit strategy and audit scope Included in our audit planning letter which was presented to the Finance & Administration Committee on January 26, 2015. 3. Fraud risk factors Included in our audit planning letter which was presented to the Finance & Administration Committee on January 26, 2015. 4. Going concern matters None. 5. Significant estimates or judgments See page 9. 6. Audit adjustments None. See page 10. 7. Unadjusted differences None. See page 10. 8. Omitted disclosures None. See page 10. 9. Disagreements with management There were no disagreements with management. 10. Consultations with other See page 9. accountants or experts
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11. Major issues discussed with None. management in regards to retention 12. Significant difficulties encountered No difficulties during the audit were encountered during our audit. 13. Significant deficiencies in internal None. See page control 10. 14. Material written communication No material between BDO and management written communications were noted. 15. Any relationships which may affect No our independence independence issues noted. 16. Any illegal acts identified during No illegal the audit activities identified through the audit process. 17. Any fraud or possible fraudulent No fraud acts identified during the audit identified through the audit process. 18. Significant transactions with None noted. related parties not consistent with ordinary business operations 19. Non-compliance with laws or No legal or regulations identified during the regulatory non- audit compliance matters were noted as part of our audit. 20. Limitations of scope over our audit, None. if any 21. Written representations made by See Appendix C. management 22. Any modifications to our opinion, if None. required
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APPENDIX B Draft Independent Auditor’s Report
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Independent Auditor’s Report
To the Board of Governors of The Humber College Institute of Technology and Advanced Learning and University of Guelph
We have audited the accompanying financial statements of University of Guelph-Humber, which comprise the statement of financial position as at March 31, 2015, and the statements of operations, changes in net assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for not-for-profit organizations and for such internal control as management determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements present fairly, in all material respects, the financial position of University of Guelph-Humber as at March 31, 2015 and the results of its operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations.
Chartered Professional Accountants, Licensed Public Accountants Mississauga, Ontario REPORT DATE
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APPENDIX C Representation Letter
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DATE
BDO Canada LLP Chartered Professional Accountants 1 City Centre Drive Suite 1700 Mississauga, ON L5B 1M2
Dear Sirs/Mesdames:
This representation letter is provided in connection with your audit of the financial statements of University of Guelph-Humber for the year ended March 31, 2015 for the purpose of expressing an opinion as to whether the financial statements present fairly, in all material respects, the financial position as at March 31, 2015, and the results of its operations and cash flows for the year then ended of University of Guelph-Humber in accordance with Canadian accounting standards for not-for-profit organizations.
We confirm that:
1. We have fulfilled our responsibilities, as set out in the terms of the audit engagement dated January 5, 2015, for the preparation of the financial statements in accordance with Canadian accounting standards for not-for-profit organizations; in particular the financial statements are fairly presented in accordance therewith.
2. Significant assumptions used by us in making accounting estimates, including those measured at fair value are reasonable.
3. Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the requirements of Canadian accounting standards for not-for- profit organizations.
4. All events subsequent to the date of the financial statements and for which Canadian accounting standards for not-for-profit organizations require adjustment or disclosure have been adjusted or disclosed.
5. The financial statements of the University use appropriate accounting policies that have been properly disclosed and consistently applied.
Information Provided
6. We have provided you with:
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- access to all information of which we are aware that is relevant to the preparation of the financial statements, such as records, documentation and other matters;
- additional information that you have requested from us for the purpose of the audit; and
- unrestricted access to persons within the entity from whom you determined it necessary to obtain audit evidence.
7. We are responsible for the design, implementation and maintenance of internal controls to prevent, detect and correct fraud and error, and have communicated to you all deficiencies in internal control of which we are aware.
8. We have made available to you all:
- minutes of the meetings of the Board of Governors and Finance & Administration Committee
9. The minute books of the organization are a complete record of all meetings and resolutions of the Board of Governors and the Finance & Administration Committee throughout the year and to the present date.
10. We have disclosed to you all significant matters contained in the minutes of all meetings and resolutions of the Board of Governors and the Finance & Administration Committee throughout the year and to the present date.
11. All transactions have been recorded in the accounting records and are reflected in the financial statements.
12. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing financial statements.
13. We have identified to you:
- guarantees
- Indemnifications against damages, liabilities, costs, charges or expenses suffered or incurred by officers or directors as a result of their service, and/or by any subsidiaries; and
- non-monetary transactions and transactions for no consideration.
14. We have disclosed to you the identity of the University’s related parties and the related party relationships and transactions of which we are aware.
15. We are aware of the environmental laws and regulations that impact our organization and we are in compliance. There are no known environmental liabilities or contingencies that have not been accrued for or disclosed in the financial statements.
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Fraud and Error
16. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud, and have determined such risk to be low.
17. We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves:
- management;
- employees who have significant roles in internal control; or
- others where the fraud could have a material effect on the financial statements.
18. We have disclosed to you all information in relation to allegations of fraud, or suspected fraud, affecting the University’s financial statements communicated by employees, former employees, analysts, regulators, or others.
19. We have reviewed and approved all journal entries recommended by the auditors during the audit.
20. We believe that the effects of unadjusted misstatements are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.
Existence, Completeness and Valuation of Specific Financial Statement Balances
21. All assets, wherever located, to which the University had satisfactory title at the year end, have been fairly stated and recorded in the financial statements. There are no liens or encumbrances on the organization's assets.
22. All financial instruments have been appropriately recognized and measured in accordance with Canadian accounting standards for not-for-profit organizations. Significant assumptions used in arriving at fair value of financial instruments are reasonable and appropriate in the circumstances.
23. Where the value of any asset has been impaired, an appropriate provision has been made in the financial statements or has otherwise been disclosed to you.
General Representations
24. The nature of all material uncertainties have been appropriately measured and disclosed in the financial statements, including all estimates where it is reasonably possible that the estimate will change in the near term and the effect of the change could be material to the financial statements.
25. We have provided you with significant assumptions that in our opinion are reasonable and appropriately reflect our intent and ability to carry out specific courses of action on behalf
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of the entity when relevant to the use of fair value measurements or disclosures in the financial statements.
26. There were no direct or contingent liabilities (including those associated with guarantees or indemnification provisions), unusual contractual obligations nor any substantial commitments, whether oral or written, other than in the ordinary course of business, which would materially affect the financial statements or financial position of the organization, except as disclosed in the financial statements.
27. We have informed you of all outstanding and possible claims, whether or not they have been discussed with legal counsel. When applicable, these claims have been appropriately disclosed in the financial statements.
28. We confirm that there are no derivatives or off-balance sheet financial instruments held at year end that have not been properly recorded or disclosed in the financial statements.
29. We have disclosed to you all significant customers and/or suppliers of the organization who individually represent a significant volume of business with the organization. We are of the opinion that the volume of business (sales, services, purchases, borrowing and lending) done by the organization with any one party is not of sufficient magnitude that discontinuance would have a material negative effect on the ongoing operations of the organization.
30. There have been no plans or intentions that may materially affect the carrying value or classification of assets and liabilities.
31. No significant matters, other than those disclosed in the financial statements, have arisen that would require a restatement of the comparative financial statements.
Yours truly,
Signature Position
Signature Position
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FINANCIAL STATEMENTS
University of Guelph-Humber
March 31, 2015
DRAFT FOR DISCUSSION
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TABLE OF CONTENTS
For the year ended March 31, 2015
Financial Statements
Independent Auditor’s Report
Statement 1 Statement of Financial Position Statement 2 Statement of Operations Statement 3 Statement of Changes in Net Assets Statement 4 Statement of Cash Flows
Notes to Financial Statements
DRAFT FOR DISCUSSION
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March 31, 2015 March 31, 2014
ASSETS Current assets Due from The Humber College Institute of Technology $ 21,601,376 $ 18,879,003 and Advanced Learning (note 3(a)) Grants receivable (note 3(b)) 3,895,471 5,156,090 Prepaid expenses 1,749,336 1,378,990 Total current assets 27,246,183 25,414,083 CAPITAL ASSETS (note 4) 1,125,240 1,339,107 TOTAL ASSETS 28,371,423 26,753,190
LIABILITIES Current liabilities Account payable and accrued liabilities $ 1,025,048 $ 841,443 Deferred revenue 3,340,643 2,843,875 Due to University of Guelph (note 3(a)) 1,017,482 1,597,093 TOTAL LIABILITIES 5,383,173 5,282,411
NET ASSETS Unrestricted 20,063,010 18,331,672 Internally restricted (note 6) 1,800,000 1,800,000 Invested in capital assets 1,125,240 1,339,107 TOTAL NET ASSETS 22,988,250 21,470,779 TOTAL LIABILITIES AND NET ASSETS $ 28,371,423 $ 26,753,190
See accompanying notes
On behalf of the Joint Venture:
______
DRAFT FOR DISCUSSION 3
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March 31, 2015 March 31, 2014
REVENUE Government grants $ 29,256,955 $ 27,732,462 Tuition and other fees 28,200,787 25,415,343 Other 37,696 135,082 TOTAL REVENUE 57,495,438 53,282,887
EXPENSES (note 3(c)) Academic 16,479,116 15,678,843 Registrarial 5,346,289 5,013,436 Library services 1,536,098 1,612,569 Administrative 7,791,019 6,732,844 Recruitment 1,735,869 1,480,528 Student Life 2,028,554 1,843,179 Technical 2,495,144 2,531,558 Amortization of capital assets 234,206 261,644 TOTAL EXPENSES 37,646,295 35,154,601 EXCESS OF REVENUE OVER EXPENSES FOR THE YEAR $ 19,849,143 $ 18,128,286
See accompanying notes
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March 31, 2015 Internally Invested in Restricted capital assets Unrestricted (note 6) (note 5) Total
Balance, beginning of year $ 18,331,672 $ 1,800,000 $ 1,339,107 $ 21,470,779 Excess of revenue over expenses for the year 19,849,143 - - 19,849,143 Distribution of unrestricted assets to investors (18,331,672) - - (18,331,672) Net change in invested in capital assets (note 5) 213,867 - (213,867) - Balance, end of year $ 20,063,010 $ 1,800,000 $ 1,125,240 $ 22,988,250
March 31, 2014 Internally Invested in Restricted capital assets Unrestricted (note 6) (note 5) Total
Balance, beginning of year $ 16,720,132 $ 1,800,000 $ 1,542,493 $ 20,062,625 Excess of revenue over expenses for the year 18,128,286 - - 18,128,286 Distribution of unrestricted assets to investors (16,720,132) - - (16,720,132) Net change in invested in capital assets (note 5) 203,386 - (203,386) - Balance, end of year $ 18,331,672 $ 1,800,000 $ 1,339,107 $ 21,470,779
See accompanying notes
Donations TOTAL REVENUE
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For the years ended March 31, 2015 March 31, 2014
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE FOLLOWING ACTIVITIES
OPERATING Excess of revenue over expenses for the year $ 19,849,143 $ 18,128,286 Non-cash items: Amortization of capital assets 234,206 261,644 20,083,349 18,389,930 Net change in non-cash working capital items (note 7) (1,731,338) (1,611,540) Cash provided by operating activities 18,352,011 16,778,390
INVESTING Purchase of capital assets (20,339) (58,258) Cash used in investing activities (20,339) (58,258)
FINANCING Distribution of unrestricted assets to investors (18,331,672) (16,720,132) Cash used in financing activities (18,331,672) (16,720,132)
Net change in cash during the year and cash, end of year $ - $ -
See accompanying notes
DRAFT FOR DISCUSSION 6
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1. DESCRIPTION OF THE ORGANIZATION
With the approval of the Ontario Ministry of Training, Colleges and Universities (the “Ministry”), the University of Guelph (“Guelph”) and The Humber College Institute of Technology and Advanced Learning (“Humber”) entered into a Memorandum of Understanding dated June 10, 1999, to develop and deliver joint programming as the University of Guelph-Humber, an unincorporated joint venture (the “Joint Venture”). The first classes commenced September, 2002.
The Joint Venture undertakes to:
Serve the needs of students who intend to enter the workforce upon graduation by providing unique educational experiences, resulting in well-educated and trained individuals. Improve accessibility to quality post-secondary education by making relevant education more affordable to non-residential students. Expand programmatic and vocational learning opportunities for students by providing students in the Greater Toronto Area with increased accessibility to programs at the University of Guelph. Create a unique partnership between Humber and Guelph in first class facilities on the Humber campus. Unite the strength of theoretical and applied studies. Focus on learning outcomes relevant to societal demands. Develop diploma/degree programs that will be delivered in a compressed format to reduce the overall time commitment for undergraduate students in the combined diploma/degree programs. Use joint admission standards to attract and admit students demonstrating a capacity for high academic achievement. Outline the processes that will be used to monitor and review progress and the high quality of the programs.
As per the agreement between the two institutions, the Joint Venture is managed by the following committees, namely: Executive; Academic; and Finance and Administration. The role of the Finance and Administration Committee is to advise the Executive Committee on capital and operating budgets, tuition, ancillary fees and reserve accounts.
The Joint Venture is not taxed as the venturers are responsible for income taxes. The venturers are not- for-profit organizations and are exempt from income taxes.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the Joint Venture have been prepared in accordance with Canadian accounting standards for not-for-profit organizations (“ASNPO”). The significant accounting policies are as follows:
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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Capital Assets
Purchased capital assets are recorded at cost while contributed capital assets are recorded at their fair value at the date of contribution. Capital assets are amortized on a straight-line basis over their useful lives, which has been estimated to be as follows:
Furniture and equipment 5 to 10 years Computer equipment 3 years Leasehold improvements 5 years
Revenue Recognition
The Joint Venture follows the deferral method of accounting for contributions. Government grants are recorded as revenue when the programs are delivered. Student tuition fees are recorded rateably over the term to which the tuition fees revenue applies.
Pension Benefit Plans and Employee Future Benefits
The human resources of the Joint Venture are the employees of either Guelph or Humber. Liabilities with respect to pension benefit plans and employee future benefits vest with the employer and, as such, are not reflected in these financial statements.
Financial Instruments
Financial instruments are recorded at fair value when acquired or issued. In subsequent periods, financial instruments are reported at cost or amortized cost less impairment, if applicable. Financial assets are tested for impairment when changes in circumstances indicate the asset could be impaired. Transaction costs on the acquisition, sale or issue of financial instruments are charged to the financial instrument for those measured at amortized cost.
It is management’s opinion that the Joint Venture is not exposed to significant credit, interest or foreign currency risks from its financial instruments.
Use of Estimates
The preparation of financial statements in conformity with Canadian accounting standards for not-for- profit organizations requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Due to inherent uncertainty involved in making such estimates, actual results could differ from those estimates.
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Audited Financial Statements - Page 202 of 271 University of Guelph-Humber as University of Guelph-Humber NOTES TO FINANCIAL STATEMENTS For the year ended March 31, 2015
3. RELATED PARTY TRANSACTIONS AND ECONOMIC DEPENDENCE
As described in Note 1, Guelph and Humber are separate organizations from the Joint Venture in which each entity is responsible for various ongoing financial arrangements. The transactions amongst the entities are in the way of expenses incurred or funding received for the purposes of the Joint Venture.
(a) The amounts due from Humber and due to Guelph are non-interest bearing and due on demand.
(b) Grants receivable represent amounts due from the Ministry, collected by Guelph on behalf of the Joint Venture.
(c) During the year, fees totalling $21,316,094 (2015 - $20,592,180) were paid to Guelph (2015 - $9,956,758; 2014 - $9,595,330) and Humber (2015 - $11,359,336; 2014 - $10,996,850) for services provided at agreed upon exchange amounts.
(d) The building, which houses the activities of the Joint Venture, is the property of Humber and does not form part of the assets of the Joint Venture.
4. CAPITAL ASSETS 2015 Accumulated Cost Amortization Net Book Value Furniture and equipment $ 4,705,508 $ 4,468,178 $ 237,330 Computer equipment 2,356,720 2,297,411 59,309 Leasehold improvements 1,274,768 446,167 828,601 $ 8,336,996 $ 7,211,756 $ 1,125,240
2014 Accumulated Cost Amortization Net Book Value Furniture and equipment $ 4,685,169 $ 4,321,025 $ 364,144 Computer equipment 2,356,720 2,274,096 82,624 Leasehold improvements 1,274,768 382,429 892,339 $ 8,316,657 $ 6,977,550 $ 1,339,107
5. INVESTED IN CAPITAL ASSETS
The change in invested in capital assets is calculated as follows:
2015 2014 Amortization of capital assets $ (234,206) $ (261,644) Purchase of capital assets 20,339 58,258 Total change in invested in capital assets $ (213,867) $ (203,386)
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Audited Financial Statements - Page 203 of 271 University of Guelph-Humber as University of Guelph-Humber NOTES TO FINANCIAL STATEMENTS For the year ended March 31, 2015
6. INTERNALLY RESTRICTED NET ASSETS
The Joint Venture, by resolution of the Finance and Administration Committee, internally restricted $1,800,000 of net assets to cover anticipated expenses relates to:
2015 2014 Operating $ 1,000,000 $ 1,000,000 Facility renewal 800,000 800,000 Total internally restricted net assets $ 1,800,000 $ 1,800,000
7. STATEMENT OF CASH FLOWS
The net change in non-cash working capital balances related to operations consists of the following:
2015 2014 Due from The Humber Institute of Technology $ (2,722,373) $ (2,712,218) and Advanced Learning Grants receivable 1,260,619 3,148,985 Prepaid expenses (370,346) (71,190) Accounts payable and accrued liabilities 183,605 211,200 Deferred revenue 496,768 68,098 Due to The University of Guelph (579,611) (2,256,415) Net change, non-cash working capital $ (1,731,338) $ (1,611,540)
8. COMPARATIVE CONSOLIDATED FINANCIAL STATEMENTS
The comparative consolidated financial statements have been reclassified from statements previously presented to conform to the presentation of the 2015 financial statements.
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Audited Financial Statements - Page 204 of 271 University of Guelph-Humber as UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 8. Audit Committee Report
Meeting: Thursday, June 4, 2015
c) Enterprise Risk Management Update and 2015 Annual Report
For the information of the Board, the University’s 2015 Annual Report on Enterprise Risk Management activities is provided with the on-line supporting materials. It was reviewed and discussed by the Audit Committee at its meeting on May 28, 2015.
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Enterprise Risk Management Page 205 of 271 Update and 2015 Annual Report Page 206 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
a) Report from Committee Chair
The following is provided for the information of Governors.
At its meeting on March 5, 2015, the Governance Committee:
• Received an up-date on labour relations [see Closed Session materials] • Reviewed background information for the periodic review of the Senior Executive Compensation Policy and gave direction for next steps to the University Administration • Received a report on 2014 implementation of the Senior Executive Compensation Policy • Received an update on presidential transition • Received an update on plans for the 2015 Board evaluation process • Received an update on 2015 elections for internal members of the Board • Discussed governance volunteer recruitment activities and plans for addressing upcoming vacancies in 2015-16 and beyond (i.e. the Board of Governors, Board of Trustees, and Investment Subcommittee) • Received an update on proposed amendments to the Audit Committee terms of reference • Received a report on the recent joint meeting of the Board of Governors Committee Chairs and Senate Priorities and Planning Committee • Received information concerning the 2015 Canadian University Board Association conference
Subsequently the Committee also ratified the tentative agreement between the University and its Professional Staff Association. And, through a committee sign-back, it reviewed and endorsed amendments to the Audit Committee’s terms of reference.
At its meeting on May 20, 2015, the Committee:
• Received an up-date on labour relations [see Closed Session materials] • Received an update on presidential transition and plans for on-boarding incoming vice- presidents • Discussed the 2015 overall Board evaluation results, as well as the Governance Committee and other Board Standing Committees evaluation survey results • Reviewed and endorsed proposed amendments to the BOT terms of reference and repeal of Bylaws [see item 9b]
Report from Committee Chair Page 207 of 271 • Reviewed and endorsed proposed amendments to the Student Organization Policy [see item 9c] • Reviewed and endorsed proposed amendments to the Non-Academic Misconduct Policy [see item 9d] • Reviewed and endorsed proposed amendments to the University Signing Authority Registry - [see item 9e] • Reviewed and endorsed proposed University Appointees to the Art Gallery of Guelph Board of Trustees [see item 9f] • Considered 2015-16 internal Governor appointments [see item 9g] • Reviewed and endorsed proposed amendments to the Audit and Governance Committees terms of reference [see item 9h] • Reviewed and endorsed proposed governance volunteer appointments to the Board of Governors, Board of Trustees and Investment Subcommittee [see Closed Session materials] • Considered succession planning for Board leadership roles (i.e. Committee Chairs) as well as Committee assignments for 2015-16 • Received an update on the April 2015 Board meetings, as well as the annual conference of the Canadian University Board Association • Reviewed the Committee terms of reference and considered agenda planning for 2015- 16
The current membership of the Governance Committee is as follows:
Kevin Golding, Chair Shauneen Bruder Paul Gibson Peter MacGowan Wendy Millar Dick Freeborough, Board Chair Franco Vaccarino, President Vicki Hodgkinson (University Secretary, non-voting)
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Report from Committee Chair Page 208 of 271
UNIVERSI 9‘GUEI.PH TY UNIVERSITY SECRETARIAT
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
b) Board of Trustees Terms of Reference: Proposed Amendments & Repeal of Bylaws
The enclosed draft of fully up-dated Terms of Reference for the Board of Trustees has been reviewed and recommended for approval by the Board of Trustees (Apr 2) and the Governance Committee (May 20). The draft incorporates detailed notations on the changes to be made in relation to the current Terms of Reference and with reference to applicable By-law documents.
It is intended that, in approving these new Terms of Reference, the Board of Governors would also support a repeal of “By-law No. 1 of the Board of Trustees”. The relevant portions of “By- law No. 1 of the Board of Governors” (http://bit.ly/1CmMYAG) would then apply to Trustees1.
A further element of these changes is a recommendation that the Board of Governors declare that the current provisions for a Board of Trustees Executive Committee and the related terms of reference also be repealed. Given the change in size of the Board of Trustees, an executive committee is no longer seen as necessary.
Background
At its meeting in October 2014, the Board of Governors was advised of work underway through the Board of Trustees and the Governance Committee to up-date and streamline several Board of Trustees (BOT) governance documents. Specifically, the Board of Governors was advised that the intention was to develop a robust and up-to-date Terms of Reference for the BOT and the dismantling of “By-law No. 1 of the Board of Trustees of the University of Guelph Heritage Fund” (see Terms of Reference only option in the summary chart enclosed).
Copies of the current “By-law No. 1 of the Board of Trustees of the University of Guelph Heritage Fund”, BOT Terms of Reference, and the Declaration of Trust can be found on the following webpages:
1 A chart overviewing provisions in the existing BOT By-law and how these provisions would emerge through governance documents proposed for going forward can be found at the end of the proposed new BOT terms of reference.
BOT Terms of Reference: Page 209 of 271 Proposed Amendments and • By-law No. 1 of the Board of Trustees: https://www.uoguelph.ca/secretariat/office- services-board-governors-board-trustees/board-trustees-bylaws
• Board of Trustees Terms of Reference: https://www.uoguelph.ca/secretariat/office- services-board-governors-board-trustees/terms-reference
• Declaration of Trust: https://www.uoguelph.ca/secretariat/office-services-board- governors-board-trustees/declaration-trust-university-guelph-heritage-fund
The Board of Trustees Executive Committee terms of reference which remain in existence are available on-line at http://bit.ly/1BL0IQH.
The Board of Trustees is seeking the Board of Governors’ approval to:
• Replace the current Board of Trustees Terms of Reference with the enclosed terms of reference document, with effect as of July 1, 2015; and, • Repeal “By-law No. 1 of the Board of Trustees” with effect as of July 1, 2015, and allow the Board of Governors By-law No. 1: General By-law to prevail for the Board of Trustees, effective immediately; and, • Discontinuation of the Board of Trustees Executive Committee and repeal its terms of reference, effective immediately.
To bring these changes into full effect, complementary changes will be needed to the Board of Governors “By-Law No. 1: General By-law” (http://bit.ly/1CmMYAG). Specifically, it is proposed that Section 18 be amended to include “b)” as follows:
18. REPEAL
a) The General By-Laws of the Board of Governors of the University of Guelph which came into force on July 1, 1968 and all amendments thereto are hereby repealed.
b) The General By-Laws of the Board of Trustees of the University of Guelph Heritage Fund which came into force on July 1, 1991 and all amendments thereto are hereby repealed and replaced by this By-Law.
This would satisfy the amendment/repeal requirements in the current BOT by-law which invoke Section 16. of the Board of Governors By-Law No. 1 requiring that, “A By-law may only be amended or repealed by By-law.”
A notice of motion was given at the Board of Governors meeting in October 2014 for the repeal of the BOT’s By-laws so that the Board of Governors’ By-law No 1 would prevail. The notice was as follows:
RESOLVE, That the Board of Governors accept and approve the repeal of “By-law No. 1 of the Board of Trustees of the University of Guelph Heritage Fund” and its replacement by the Board of Governors By-law No. 1 and the Board of Trustees Terms of Reference.
BOT Terms of Reference: Page 210 of 271 Proposed Amendments and The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the revised terms of reference for the Board of Trustees, as presented, with effect on July 1, 2015; and
FURTHER RESOLVE, That, consistent with the notice of motion presented at the October 23, 2014 meeting of the Board of Governors, the Board of Governors accepts and approves the repeal of “By-law No. 1 of the Board of Trustees of the University of Guelph Heritage Fund” by way of amendment to section 18, as proposed, with its replacement by the combined application of the Board of Governors By-law No. 1 and the Board of Trustees Terms of Reference, with effect on July 1, 2015; and,
FURTHER RESOLVE, That the Board of Governors accept and approve discontinuation of the Board of Trustees Executive Committee and repeal of its terms of reference, effective immediately.
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BOT Terms of Reference: Page 211 of 271 Proposed Amendments and Page 212 of 271
BOARD OF TRUSTEES
Terms of Reference
A. Mandate
1. The University of Guelph Heritage Fund is a permanently endowed trust fund (“Heritage Fund”) established through the University of Guelph Heritage Fund Declaration of Trust (“Declaration of Trust”). The Heritage Fund holds such real property and facilities, if relevant, designated to the Heritage Fund (“Heritage Properties”) and an endowment consisting of the accumulated Net Annual Proceeds from the Heritage Properties (“Heritage Endowment”).
2. The Board of Trustees (“Board of Trustees”) is a Standing Committee of the University’s Board of Governors (“the Board”) and is responsible for overseeing the Heritage Fund in accordance with the Declaration of Trust, applicable University policies and resolutions of the Board. As a Standing Committee of the Board, the Board of Trustees is subject to all relevant principles, policies and/or guidelines of the Board of Governors including, but not limited to, those concerning good governance, conflict of interest and confidentiality.
3. The Board of Trustees’ primary responsibilities are:
• To oversee the Heritage Endowment, including policies and practices with regard to investment. • To identify the amount of funds available in any given year for distribution to the University for strategic investments in the institution and to advise the Board on the proposed distributions from the perspective of the long-term financial health of the Trust. • To oversee Heritage Properties, including policies and practices with regard to business and financial planning, budgeting, and multi-year and/or annual property-specific development plans. • To present reports to the Board regularly and at least once annually concerning the Heritage Fund, including audited financial statements. • To provide other advice and reports to the Board, as the Board may request from time to time.
B. Responsibilities
1. Heritage Endowment
1.1 Investment Policy & Procedures
With the advice of the Board’s Investment Subcommittee, to review, develop and recommend to the Board for approval investment policies and procedures for application to the University of Guelph’s
BOT Terms of Reference: Page 213 of 271 Proposed Amendments and
Heritage Endowment that are in accordance with the Declaration of Trust and align with applicable University policies.
1.2 Distributions Policy & Procedures
1.2.1 Annually identify and approve the “Net Real Investment Return” (as defined in the Declaration of Trust) for the Heritage Trust Endowment.
1.2.2 Consider and make recommendations to the Board that are in accordance with the Declaration of Trust regarding proposed distributions from the Heritage Endowment for such purposes and projects that will advance the objects of the University as identified by the Board.
1.3 Oversight and Reporting on Heritage Trust Endowment 1.3.1 With the advice of the Board’s Investment Subcommittee, oversee and monitor investment performance for the Heritage Endowment.
1.3.2 Ensure that all records and accounts necessary and appropriate to document the Heritage Endowment are prepared and retained in accordance with applicable legislation and accounting standards. This includes reviewing and approving the audited statements.
2. Heritage Properties
2.1 Strategic Policies, Procedures & Plans for Development of Heritage Properties
2.1.1 Develop and recommend to the Board for approval strategic policies and plans to serve as a framework for the development, management, control, and disposition of Heritage Properties.
2.1.2 Periodically review and make recommendations to the Board on any additions or changes to strategic policies and plans serving as a framework for the development, management and control of Heritage Properties.
2.1.3 Develop and recommend to the Board for approval policies and practices regarding the use and administration of Heritage Properties to mitigate the risk of loss or deterioration of capital assets.
2.1.4 Recommend to the Board policies concerning receipt of donations of land for assignment to the Heritage Properties.
2.1.5 Recommend to the Board policies concerning the acquisition of Heritage Properties.
BOT Terms of Reference: Page 214 of 271 Proposed Amendments and
2.2 Operational Policies, Procedures & Plans for Heritage Properties 2.2.1 Develop and recommend to the Board for approval multi-year and/or annual business plans for the ongoing development and operation of Heritage Properties, including any related recommendations concerning disposition of these properties.
2.2.2 Develop and recommend to the Board for approval, an annual budget for the University’s Real Estate Division, insofar as the budget pertains to the operation and development of Heritage Properties.
2.2.3 Make recommendations to the Board concerning the potential acquisition of additional properties by the University.
2.2.4 Make recommendations to the Board concerning potentially assigning additional properties to the Heritage Fund.
2.2.5 Where necessary due to the unique requirements of the Heritage Properties, develop and approve operational policies and procedures for the implementation of multi-year and annual budgets and business plans for Heritage Properties, ensuring consistency with the Declaration of Trust while also preserving general alignment with similar policies applicable to other University of Guelph properties not included in the Heritage Properties.
2.2.6 Oversee ongoing implementation of business plans and budgets for Heritage Properties, including giving final approval and executing any sale, mortgage, pledge or lease of a Heritage Property that has been pursued according to the provisions of the most recent Board-approved business plan and budget for Heritage Properties. 2.3 Annual Reporting 2.3.1 With the advice of the Board’s Investment Subcommittee, report at least once annually to the Board on the investment performance and management of the Heritage Endowment, including information on all distributions and disbursements.
2.3.2 Review and approve the annual audited financial statements and related management discussion and analysis for the Heritage Fund as prepared by the University’s external auditors.
2.3.3 Present reports to the Board regularly and at least annually, concerning the Heritage Fund including audited financial statements for the Heritage Endowment.
3. Other
3.1 Provide other advice and reports to the Board, as the Board may request from time to time, including advice regarding the acquisition of properties not intended for assignment to the Heritage Trust.
BOT Terms of Reference: Page 215 of 271 Proposed Amendments and
3.2 The Board of Trustees and/or individual Trustees may be called upon from time-to-time through resolution of the Board to fulfill other specific roles and/or discharge other responsibilities that call upon Trustees’ specialized knowledge as reflected in the various Trustees’ skills and competencies.
3.3 Provide advice on the competencies and skills matrix to be used by the Board to recruit individuals to fill vacancies on the Board of Trustees.
3.4 Annually recommend to the Board, a Trustee who is not a member of the Board or an employee of the University to the Physical Resources and Property Committee of the Board.
3.5 Review annually these Terms of Reference and/or the Declaration of Trust and/or other policy documents affecting the ability of the Board of Trustees to fulfill its responsibilities for the Heritage Fund and recommend to the Board for approval amendments as necessary.
C. Membership
1. Board of Trustees Membership
1.1 Trustees shall be appointed by the Board in accordance with the Declaration of Trust and guided by a competencies and skills matrix approved by the Board and developed with input from the Board of Trustees.
1.2.1 There shall not be less than seven (7) nor more than nine (9) Trustees at any time;
1.2.2 Ex-officio members shall include: The President and the Chair of the Board, unless he or she is unable or unwilling to serve; and
1.2.3 The University Secretary or designate attends all meetings but is not a member (non-voting).
2. Responsibilities of the Chair, Board of Trustees
2.1 The Board of Trustees shall have a Chair who is appointed and replaced by the Board from time- to-time from among the Trustees. The Board may also appoint a Vice-Chair for the Board of Trustees from among the Trustees. The Chair of the Board of Trustees, when present, shall preside at all meetings of the Board of Trustees, shall sign such documents as may require the Chair’s signature in accordance with the Declaration of Trust, these terms of reference, and/or resolution of the Board, and may perform such other duties as may be assigned from time-to- time by the Board or the Board of Trustees.
2.2 Normally, the Chair of the Board of Trustees will attend a minimum of one Board meeting annually to report on the Heritage Fund and share information about the work of the Board of Trustees.
BOT Terms of Reference: Page 216 of 271 Proposed Amendments and
2.3 Between meetings of the Board of Trustees, its Chair will be kept apprised by the University Administration on a regular and ongoing basis about developments and actions planned for Heritage Fund. The Chair will determine whether any matters necessitate a special meeting of the Board of Trustees or whether actions proposed should await consideration at its next regularly scheduled meeting.
2.4 Where a Vice-Chair of the Board of Trustees has been appointed by the Board, the Vice-Chair shall perform the duties of the Chair of the Board of Trustees when the latter is unable for any reason to perform such duties. The Vice-Chair may also perform such other duties as may be assigned from time to time by the Board or the Board of Trustees.
D. Quorum and Meetings
1. Quorum for the Board of Trustees is as provided in General By-law 7.9: two-fifths (2/5) of the membership. 2. The Board of Trustees will meet at least once each year and more frequently as necessary. 3. Meetings of the Board of Trustees are closed and will be conducted in a manner consistent with section 7.5 to 7.11 of “By-law No. 1: General By-law, Board of Governors of the University of Guelph”.
Effective: Board of Governors, [Insert Date]
Revised: [Insert Dates]
BOT Terms of Reference: Page 217 of 271 Proposed Amendments and
Chart Cross-referencing the Board of Trustees By-law No.1 with the Proposed Amending Governance Documents
The following chart provides an overview of the information that was included in “By-law No. 1 of the Board of Trustees of the University of Guelph Heritage Fund” and then identifies which governance document or documents would contain that information going forward if the draft Board of Trustees Terms of Reference are approved.
Section of BOT By-Laws Where it will be covered going forward I DEFINITIONS Not required II BOARD OF TRUSTEES 1. Composition of the Board Article III of the Declaration of Trust - 3.2 – Number - 3.3 – Ex Officio: The President - 3.4 - Ex Officio: Chair of the Board - 3.5 – Other Trustees - 3.8 - Retirement - 3.9 – Removal of Trustees
AND
The Terms of Reference – C. Board of Trustees Membership
AND
BOG By-Law No. 1 – section 7.3
2. Term of Office of Certain Trustees Article III of the Declaration of Trust a. A Trustee who is a Governor… - 3.6 – Term of Appointment – covers Trustees b. A Trustee who is an employee who are not Governors or Employees
AND
Reference made in the Terms of Reference – C. Board of Trustees Membership 3. Year of a Trustee’s Term Not required 4. Resignation Article III of the Declaration of Trust 3.8 – Retirement 5. Chair and Vice-Chairs Article III of the Declaration of Trust a. Appointment 3.7 – Chair and Vice-Chair of Trustees
b. Role of Chair AND
c. Role of Vice-Chair The Terms of Reference – C. Board of Trustees Membership d. Role of Vice-Chairs
BOT Terms of Reference: Page 218 of 271 Proposed Amendments and
III MEETINGS OF THE BOARD OF TRUSTEES BOG By-law No. 1 – section 7.5 – 7.11
AND
Reference made in the Terms of Reference – D. Quorum and Meetings 1. Meetings Terms of Reference – D. Quorum and Meetings 2. Notice BOG By-law No. 1 7.6 – Notice of Meetings 3. Quorum BOG By-law No. 1 7.9 – Quorum Terms of Reference – D. Quorum and Meetings This is a change from the previous Terms of Reference and By-laws, but given the size of the BOT it has no material impact and it is now consistent with the requirements for other Board of Governors Standing Committees. 4. Votes BOG By-law No. 1 7.10 - Voting – subsection a 5. No Proxies BOG By-law No. 1 7.10 – Voting – subsection b 6. Signed Resolutions BOG By-law No. 1 7.10 – Voting – subsection c 7. Attending Meetings by Telephone, etc. BOG By-law No. 1 7.8 – Attendance 8. Agenda of a Meeting BOG By-law No. 1 7.8 - Attendance 9. Evidence of Votes BOG By-law No. 1 7.10 - Voting & 7.11 – Record of the Proceedings 10. Record of Proceedings BOG By-law No. 1 7.11 – Record of Proceedings 11. In Camera Meetings BOG By-law No.1 7.5 – Closed Meetings IV COMMITTEES 1. Declaration Article III of the Declaration of Trust 3.10 2. Trustees’ Executive Committee No provision for a standing BOT Executive Committee – see Terms of Reference – C. 2. Responsibilities of the Chair, Board of Trustees for information regarding calling special meetings. 3. Other Committees Article III of the Declaration of Trust 3.10
AND
BOG By-law No. 1 7.4 – Special Committees
BOT Terms of Reference: Page 219 of 271 Proposed Amendments and
4. Terms of Reference Own Terms of Reference/BOG By-laws 5. Committee Membership “ /BOG By-laws 6. Vacancies “ /BOG By-laws 7. In Camera Meetings – Committees “ /BOG By-laws 8. Notice - Committee Meetings “ /BOG By-laws 9. Place of Meetings BOG By-laws 7.7 – Place of Meetings (all Committees) 10. Attending Meetings by Telephone, etc. – “ /BOG By-laws Committees 11. Quorum – Committees “ /BOG By-laws 12. Voting – Committees “ /BOG By-laws 13. No proxies - Committees “ /BOG By-laws 14. Signed Resolutions – Committees “ /BOG By-laws 15. Record of Proceedings – Committees “ /BOG By-laws V THE TRUSTEES’ EXECUTIVE COMMITTEE No provision for a standing BOT Executive (sub-sections 1 – 4) Committee VI EXECUTION OF DOCUMENTS Terms of Reference – C. 2. Responsibilities of the Chair, Board of Trustees
AND
In keeping with section 2 and 12(b) of the Board of Governors By-law No. 1, a resolution to designate the Chair of the Board of Trustees as an Officer of the University will be included in the package of materials that goes to the Board of Governors for approval. As a result, the Chair of the Board of Trustees will be able to execute documents.
AND
Article IV of the Declaration of Trust - 4.4(g) – General Powers of Trustees
1. Who executes documents - See explanation above 2. Trustees may by resolution appoint - See explanation above
3. Cheques, drafts or orders of payment - See explanation above
VII CONFIDENTIALITY AND CONFLICT OF INTEREST Terms of Reference – A. Mandate
AND
BOG By-laws 8 – Confidentiality and Conflict of Interest VIII INDEMNIFICATION AND INSURANCE BOG By-laws
BOT Terms of Reference: Page 220 of 271 Proposed Amendments and
9 - INDEMNIFICATION AND INSURANCE IX MAKING, AMENDING AND REPEALING BY-LAWS 1. Came into force N/A – Terms of Reference will have the Effective Date and the Revisions Dates. 2. Making, amending or repealing Reviewing and amending the Terms of Reference will be covered by Terms of Reference – B.3 Other
There will no longer be a Board of Trustees By-law No. 1
BOG By-laws will continue to be addressed by Section 16 of the BOG By-laws - Making, Amending or Repealing By-laws
X NON-REMUNERATION AND EXPENSES BOG By-laws 10 – REIMBURSEMENT OF EXPENSES
AND
Article IV of Declaration of Trust 4.6 – Trustees to act Gratuitously XI INTERPRETATION Not required XII COMMENCEMENT The Terms of Reference will have the Effective Date and the Revisions Dates.
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BOT Terms of Reference: Page 221 of 271 Proposed Amendments and Page 222 of 271 SUMMARY CHART of Options for Amendment of current BOT-specific Governance Documents – July 30, 2014
Proposed Amendments and BOT Terms ofReference: [i.e., BOT By-Laws, BOT Terms of Reference, BOT Executive Committee Terms of Reference]
STATUS QUO BY-LAWS ONLY TERMS OF REFERENCE ONLY OPTIONS Retain & Fully Revise & Update BOT By-Laws and Update BOT By-Laws and Dispense with BOT Dispense with BOT By-Laws and Fully Revise & BOT Terms of Reference Terms of Reference Update BOT Terms of Reference Future changes may involve amending both Future changes would only involve Future changes would only involve documents amending one document amending one document In general, the process for amending by- In general, the process for amending by- In general, amending terms of reference is Ability to laws is more onerous than amending terms laws is more onerous than amending terms less onerous than amending by-laws Amend of reference of reference BOT Terms of Reference may be amended BOT terms of reference may be amended to BOT-specific By-Laws may be amended to to include provision for BOT executive include provision for BOT executive authority include provisions for BOT executive authority authority Critical to maintain alignment of governance Critical to maintain alignment of governance Critical to maintain alignment of governance documents with U of G Act, BOG By-laws documents with U of G Act, BOG By-laws documents with U of G Act, BOG By-laws and Declaration of Trust and Declaration of Trust and Declaration of Trust Consistency Greater potential for inconsistencies among Less potential for inconsistencies among Less potential for inconsistencies among with the Act, governance-related documents governance-related documents because governance-related documents because the BOG By- No provision in Declaration of Trust or BOT there would be fewer than currently there would be fewer than currently laws, and the By-laws for BOT-specific By-Laws No provision in Declaration of Trust or BOG No provision in Declaration of Trust or BOG Declaration of Normally (per BOG By-Laws) terms of By-Laws for BOT-specific By-Laws By-Laws for BOT-specific By-Laws Trust reference only required for BOG standing Normally (per BOG By-Laws) terms of Consistent with BOG By-Laws specifying committees (Declaration of Trust defines reference only required for BOG standing terms of reference for BOG standing BOT as a BOG standing committee.) committees (Declaration of Trust defines committees BOT as a BOG standing committee) Information contained in multiple documents Information contained in fewer documents is Information contained in fewer documents is Accessibility of is less accessible for the user more accessible for the user more accessible for the user Information for Option does not align with Trustees’ Aligns somewhat with Trustees’ historical Aligns well with Trustees’ historical calls for the User historical calls for reduced governance calls for reduced governance ‘bureaucracy’ reduced governance ‘bureaucracy’ for the ‘bureaucracy’ for the BOT for the BOT BOT Use of both documents may allow for Use of fewer documents may reduce risk of Use of fewer documents may reduce risk of greater clarification of roles/responsibilities confusion in providing clarification of confusion in providing clarification of of BOT & Trustees roles/responsibilities of BOT & Trustees roles/responsibilities of BOT & Trustees Use of both documents among other More elaborate amendment requirements Ease of amendment allows for inclusion of governance documents may lead to are a disincentive for inclusion of some more process/procedural/policy references Clarification of confusion about relative purpose of process/procedural/policy references and, and, thereby, could enhance opportunity to Page 223 of271 the Roles and governance documents and contribute to thereby, could diminish opportunity to provide clarity of roles/responsibilities of Responsibilities reduced clarity of roles/responsibilities of provide clarity of roles/responsibilities of BOT & Trustees (and potentially aligns with of the Board of BOT & Trustees BOT & Trustees call for review/updating of BOT process, Trustees and Use of both documents, including more procedures at June 2014 meeting) its members onerous process for amendment of By- Laws, may serve as helpful disincentive for unintended or unwarranted erosion of authority of BOT in its ability to satisfy responsibilities of Declaration of Trust
n:\bog\by-laws & terms bog & bot\board of trustees declaration of trust bylaws and terms of reference\2014 review of bot governance documents\board of trustees governance documents - options for review.docx Page 224 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms To: Members, Board of Governors Invmxovme Lxra
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
c) Proposed Amendments to Student Organization Policy
At its meeting May 20, 2015 the Governance Committee considered and endorsed proposed amendments to the University’s Student Organization Policy (SOP). The SOP establishes the relationship and responsibilities between the University and its recognized student organizations.
A memorandum describing the rationale for the proposed changes, as well as the document to be considered for approval, are enclosed. (For reference, the existing version of the SOP can be found online at: http://www.uoguelph.ca/studentaffairs/home/documents/StudentOrganizationPolicy.pdf).
The Board of Governors is asked to,
RESOLVE, That Board of Governors accept and approve the revised Student Organization Policy, as presented.
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To: Governance Committee, Board of Governors
From: Brenda Whiteside, Associate V.P. Student Affairs
Date: May 14, 2015
Re: Proposed Revisions to the Student Organization Policy
Attached for Board approval is a revised Student Organization Policy. This Policy establishes the relationship and responsibilities between the University and its recognized student organizations. The proposed revisions are the result of consultations between the University and the Primary Student Organizations. The review arose from concerns that the present Policy was complicated, repetitive and not well aligned with other student governance policies. In addition, the penalties for non-compliance were not clear. Numerous drafts were reviewed and revised by the Student Executive Committee (SEC) which has representation from the CSA (2 members), GSA, each College Government and Interhall Council.
This draft has been revised significantly in format and as such, the provision of a tracked change document is not effective. I have listed below the substantive changes to the document and attach as well, the previous document for comparison purposes.
Substantive Changes:
1. The purpose and jurisdiction of the policy has been clarified. For instance, it clarifies that the policy does not apply to Guelph-Humber or Ridgetown students, as they will have their own policies. It also does not apply to varsity teams, who fall under the Athletics or Student Service Groups that have separate agreements with the University (e.g., Ontarion, Radio Gryphon).
2. A definitions section has been added.
3. The definitions for student groups have been simplified, but also extended to capture the evolution of new student groups. In the previous Policy we had two categories for Primary Student Organizations differentiating between those that were incorporated and those that
Proposed Amendments to Page 227 of 271 Student Organization Policy were not. However, the responsibilities for both were the same so these categories have been collapsed. A new student group has been added – Affiliated Groups. There has been a growing trend for student groups to connect and do programming with third party professional associations. The policy makes clear that they must still follow the University’s accountability requirements.
4. Some changes have been made in the Financial Responsibility section: a. An additional example of inappropriate use of student fees has been provided, “failure to use the fees consistent with the original purpose as approved”. b. The requirement for an annual audit has been adjusted marginally to apply to student organizations with annual fee revenue of $160,000 or greater (had been $150,000). In addition, it will now only be PSO’s that must undertake audits (once every three years for those that generate fee revenue less than $160,000). Many of our ASO’s receive minimal revenue and the requirement for an audit is extreme. The University still reserves the right to request an audit at any time.
5. New student policies have been added to the document and all have now been linked. This is simply an attempt to highlight for new student leaders the documents that are likely to impact them. The new policies added: a. Anti-Hazing Policy b. Branion Plaza Policy c. Policy for Release of Student Information for Elections d. Student Risk Management Procedures
6. A section was added on Risk Management. While all of this information is provided in the Student Risk Management Policies and Procedures handbook, it was felt that the risk management responsibility should be highlighted as a separate item.
7. A new section on Non-compliance and penalties has been added. The approach and process has been revised to align with our Student Risk Management process and the Orientation Risk Management process.
Proposed Amendments to Page 228 of 271 Student Organization Policy The SEC also recommended that the separate section on Special Status Groups be removed and that the University enter into separate agreements with these groups, similar to Student Service Groups. The argument is that these groups often serve more than just students, and do not fit easily into this Protocol. These individual agreements will need to drafted prior to removing them from this Protocol. This change will occur over the next academic year.
I would like to publically thank all of the student leaders who worked diligently on these revisions. I was impressed with the care and commitment displayed. I believe this policy is much clearer and stronger as a result of their efforts.
Proposed Amendments to Page 229 of 271 Student Organization Policy Page 230 of 271
UNIVERSI MGUELP
Student Organization Policy (SOP) Authorization: Associate Vice-President (Student Affairs) Policy Effective: September 2014 (DRAFT) Last Revised: April 2015 (DRAFT) Next Review Date: September 2020
To receive this document in an alternative format please contact the Office of Student Affairs by emailing: [email protected]
Table of Contents 1.0 Preamble ...... 1 2.0 Purpose and Jurisdiction ...... 2 3.0 Definitions ...... 2 4.0 Recognition and Accountability of Recognized Student Organizations ...... 3 Documentation ...... 3 Financial Responsibility ...... 4 Adherence to By-Laws, Policies, Procedures and Protocols ...... 5 Risk Management Process ...... 5 5.0 Benefits of Recognized Student Organization Status ...... 5 6.0 Non Compliance ...... 6 7.0 Penalties ...... 6 8.0 Appeals ...... 6
1.0 Preamble Student organizations on campus are important members of the University of Guelph (the “University”) community. While these student-administered organizations have significant autonomy their actions reflect upon the University as a whole. Therefore, it is agreed that under this Policy, they are required to abide by all University policies and procedures. This policy does not apply to University administered student groups, such as varsity athletic teams, nor does it apply to Student Service Groups that have separate accountability agreements with the University.
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2.0 Purpose and Jurisdiction 2.1 The Student Organization Policy (SOP) establishes the relationship and responsibilities between the University and Recognized Student Organizations (as defined in section 3). The purpose of the SOP is to clearly define reporting and accountability requirements for Recognized Student Organizations. 2.2 Student organizations that adhere to this SOP will be considered by the University as a Recognized Student Organization in good standing. The University has ultimate authority in administering the privileges associated with being a Recognized Student Organization. 2.3 This Policy does not apply to student organizations at the University of Guelph-Humber or Ridgetown Campus. 2.4 This Policy is administered by the Department of Student Life (“Student Life”) on behalf of the Division of Student Affairs and the University.
3.0 Definitions 3.1 Fiscal Year: means May 1st to April 30th. 3.2 Non-Compliance: refers to the failure to abide by the terms of this SOP. Levels of non-compliance are defined below in Section 6. 3.3 Policy on non-academic misconduct: University policy that sets out the University’s expectations regarding student conduct as members of the University of Guelph community. 3.4 Student Risk Management (SRM): refers to a student run process which applies to all Recognized Student Organizations and is used to assess risk and grant approval for Recognized Student Organizations to run events and activities. Insurance coverage of events and activities requires SRM approval. 3.5 Recognized Student Organizations or RSO: Student Organizations that have been recognized by the University in accordance with this SOP. 3.6 Student Organizations: organizations whose members are currently enrolled students sharing a common goal or interest. Student Organizations include but are not limited to PSOs, ASOs, Special Status Groups, Student Service Groups and Affiliated Groups defined as follows: 3.6.1 Primary Student Organizations (PSOs): Student organizations (including those that are independently incorporated) that have clearly defined and countable fee paying constituencies and have the authority, once recognized by the University, to recognize other groups and in accordance with relevant policies and guidelines. Groups recognized as a PSO include College Governments, Residence Hall Council and Undergraduate and Graduate Student Unions as follows: . Central Veterinary Student Association (CVSA) . Central Student Association (CSA) . College of Arts Student Union (CASU) . College of Biological Sciences Student Council (CBSSC) . College of Business and Economics Student Association (CBESA) . College of Physical and Engineering Society Student Council (CPESSC) . College of Social and Applied Human Sciences Student Alliance (CSAHSA) . Graduate Students’ Association (GSA) . Interhall Council (IHC) . Student Federation of the Ontario Agricultural College (SFOAC) 3.6.2 Accredited Student Organization (ASO): Clubs and Groups representing an area of interest, culture or a hobby, an academic program or academic area of interest, and/or single Residence Community including organizations
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that have membership in more than one college such as the Bachelor of Arts and Science Student Association (BASSA) and the Environmental Sciences Student Executive (ESSE)1. 3.6.3 Affiliated Groups: Groups housed within an Accredited Student Organization and subject to all applicable policies and guidelines. 3.6.4 Special Status Groups (SSG): These groups do not officially represent students through a student government, but rather provide the entire University community with a special service. More than 50% of the membership in a SSG must be held by currently registered students. Current Special Status Groups include: . C.J. Munford Centre . Guelph Queer Equality . Guelph Resource Centre for Gender Empowerment and Diversity . International Student Organization . Ontario Public Interest Research – Guelph 3.7 Student Service Groups: Groups which perform a specific service for students. Current Student Service Groups are The Ontarion and CFRU.
4.0 Recognition and Accountability of Recognized Student Organizations Status as a Recognized Student Organization brings with it certain requirements and accountability that are indicated under this section.
Documentation 4.1 Attaining Status: To attain status under this SOP, any group of currently enrolled students must submit documents as required by the University, supporting recognition as a PSO, ASO or Affiliated Group to Student Life for approval. Applicants for ASO or Affiliated Groups must also meet the guidelines established by the PSO to which they will be accountable. Once the documentation is submitted to Student Life and approved, a letter of approval will be sent to the PSO. This letter will indicate the status the group has been granted. The University has the final determination on the creation of new Recognized Student Organizations and under which PSO they will reside, if applicable. 4.2 Maintaining Status: In order to maintain status as a Recognized Student Organization in good standing, the following documentation must be submitted annually upon request and in an agreed upon format by the deadlines as noted. The University reserves the right to request additional information to demonstrate compliance with organizational constitutions and policies as well as University policies. i. Primary Student Organizations and Special Status Groups: a. By May 15th of each Fiscal Year, the following documentation must be submitted: . Name of the Organization; . Names, titles, email addresses of its officers; . Names, titles, student ID numbers, email addresses and sample signatures of its officers with signing authority; . Name(s) and contact information to be used prior to September. b. By September 30th of each Fiscal Year, the following documentation must be submitted: . The most up to date constitution, written statement of purpose and/or policy, bylaws or other guiding document; . The process for accrediting ASOs and Affiliates (where applicable);
1 BASSA and ESSE have a fee structure that guarantees them 75% of the fees paid by their members to each of their member colleges. 3 FOR OFFICE USE ONLY: S:\SOP\Policies
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. A copy of a financial statement from a financial institution for the preceding fiscal year (May 1 to April 30); . An audited financial statement if required as per 4.3(i); . A projected budget for the forthcoming year that has been reviewed and approved. c. By November 30th of each Fiscal Year, the following documentation must be submitted: . Evidence of payment of insurance in the form of a paid invoice from the Central Student Association for the Student Risk Management Insurance or receipt of payment that liability insurance premiums have been paid for the current academic year; . The name and sample signature of the Student Risk Management Representative who is expected to attend Student Risk Management meetings regularly, if applicable. d. Any changes to the information must be communicated to Student Life within 10 University business days. ii. Accredited Student Organizations and Affiliated Groups: a. By May 15th of each Fiscal Year, the following documentation must be submitted: . Name of the Organization; . Names, titles, email addresses of its officers; . Name(s) and contact information to be used prior to September. b. By October 31st of each Fiscal Year, any updates to the information submitted under subsection a. above must be submitted. c. Other recognition requirements are managed by the respective PSOs. iii. Limited status may be imposed on a Recognized Student Organization (RSO) if one or more of the documents in subsection 4.1(i) and (ii) are missing or incomplete. Limited status can result in restrictions on a group’s activity, or additional requirements that must be met in order to achieve full status.
Financial Responsibility 4.3 RSOs must follow standard financial practices designed to promote good financial management. RSOs may have their own bank accounts. i. Specifically, RSOs must: a. Have an open review and approval process for budgets and financial statements; b. Have procedures in place to protect them from fraudulent behaviour including dual signing authority and limitations on authority for spending without Board approval; c. Maintain appropriate action with those students’ fees applicable to the RSO. Examples of inappropriate use of student fees may include but are not limited to the following: . An annual deficit with no explanation of unanticipated financial challenges, and with no plan to remove the deficit in subsequent years; . An annual surplus with no explanation of unanticipated financial challenges, and with no plan to remove the surplus in subsequent years; . Failure to use the fees consistent with the original purpose as approved. d. Maintain a carry-over of monies to support activities in the Fall semester up to when the student fees would be remitted; e. Conduct an annual financial audit if more than $160,000 in fees are received during the fiscal year. If less than $160,000 in fees is received, then a financial audit must be conducted by PSO’s on the following schedule: . In 2017-2018 for the fiscal year 2016-2017 4 FOR OFFICE USE ONLY: S:\SOP\Policies
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. The Student Organization is responsible for the cost of the audit unless the Office of Student Affairs requests one when not normally required, at which time it will be performed free of charge by the University.
Adherence to By-Laws, Policies, Procedures and Protocols 4.4 All RSOs are required to adhere to all University by-laws, policies, procedures and protocols including, but not limited to the following: . Alcohol Beverages Policy . Anti-Hazing Policy . Branion Plaza Policy . Code of Ethical Conduct for Suppliers and Subcontractors in Relation to Working Conditions and Employment Standards . Policy on Human Rights at the University of Guelph . On Campus Advertising Promotion, Sales and Solicitations . Policy on Non-Academic Misconduct . Policy for Release of Student Information for Elections . Student E-mail Communications Policy . Student Risk Management Policies and Procedures
Risk Management Process 4.5 The University requires RSOs to manage the risk associated with their events and activities regardless of their location. RSOs must have insurance coverage for their events and activities either through the student run Student Risk Management (SRM) process or as holders of their own insurance policy. All RSOs are subject to the Orientation Risk Management Standards if hosting events within the annual Orientation Week. Failure to provide proof of insurance may result in penalties as outlined in section 6.
5.0 Benefits of Recognized Student Organization Status RSOs which are in good standing as determined by the University have access to a number of benefits and privileges, including:
. Access to University organizational email accounts for executive/staff members; . Use of University space and facilities free of charge2 and subject to availability; . Office space where possible; . Access to official University publications where appropriate for the purpose of publicizing the nature of the group, its purposes and activities (subject to space availability); . Access to email listserv lists, the High Volume Mail Service and/or the student portal as per the Mass E-mail Policy; . Access to student discounts Hospitality Services provides for student organized events open to students; . Access to audio/visual equipment through Teaching Support Services; . Access to advising and support services offered through the Department of Student Life; and . Collection of student fees applicable to the RSO.
2 There are charges for War Memorial Hall, Rozanski Hall, Athletics facilities and other non-classroom spaces on campus. 5 FOR OFFICE USE ONLY: S:\SOP\Policies
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6.0 Non Compliance 6.1 RSOs that do not comply with the terms of this SOP may be deemed by the University as not in good standing or non-compliant. 6.2 There are three levels of non-compliance: 6.2.1 Level 1: Violation of University policies, organizational constitutions and/or approved policies; does not pose a risk to student health or safety and/or is easily remedied; 6.2.2 Unresolved or persistent Level 1 violation and/or risk to student health or safety is present and/or increasing; or 6.2.3 Level 3: Unresolved or persistent Level 2 violation; violation of multiple University policies, organizational constitutions and/or approved policies; significant risk to student health or safety; likely harm to University reputation; failure to cooperate with the University. 6.3 Level 1 and 2 non-compliance issues are normally dealt with through Student Life. Non-compliance at Level 3 is referred to the Associate Vice-President, Student Affairs who will determine a method for resolution.
7.0 Penalties Penalties to a RSO found not to be in compliance with the terms of this SOP may include by are not limited to the following:
. Loss of one or more benefits as defined in section 5. . Loss of status Recognized Student Organizations. . Downgrading to limited status. . Re-direction of student fees to a purpose consistent with the original purpose as approved.
8.0 Appeals Any decision made by the University under this Policy is appealable to the next level of administrative responsibility. For example, if a decision is made by the Leadership Education & Development (LEAD) Advisor, then that decision can be appealed to the Director, Student Life. The Associate Vice-President (Student Affairs) is the final authority on any appeals.
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Proposed Amendments to Page 236 of 271 Student Organization Policy UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
d) Proposed Amendments to Non-Academic Misconduct Policy
At its meeting May 20, 2015 the Governance Committee considered and endorsed proposed amendments to the University’s “Policy on Non-Academic Misconduct”. This policy establishes the expectations for student non-academic misconduct at the University and the process for the hearing of allegations of misconduct.
The Governance Committee also considered and endorsed changes to the terms of reference for the Student Rights and Responsibilities Committee (SRR), an advisory committee to the Board regarding non-academic student regulations.
Enclosed is a memorandum from Ms Brenda Whiteside, Associate Vice-President (Student Affairs), describing recent activity undertaken by the Student Rights and Responsibilities Committee (SRR) with respect to review of both the University’s Non-Academic Misconduct Policy, as well as the SRR terms of reference.
The Non-Academic Misconduct Policy, and the Student Rights & Responsibilities Committee Terms of Reference (both with proposed revisions marked) are enclosed for the Board’s review and consideration.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the proposed revisions to the Non-Academic Misconduct Policy, as presented.
And,
RESOLVE, That the Board of Governors accept and approve the proposed revisions to the Student Rights & Responsibilities Terms of Reference, as presented.
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To: Governance Committee, Board of Governors
From: Brenda Whiteside, Associate V.P. Student Affairs
Date: May 14, 2015
Re: Activity of the Student Rights and Responsibilities Committee
On June 6, 2013, the University Board of Governors reviewed and approved revisions to the Policy on Non-Academic Misconduct. These revisions were based on recommendations that emerged from a comprehensive review of the University’s academic and non-academic student appeals system, conducted by the law firm of Hicks Morley. At that time, and in conjunction with the policy recommendations, the Board was informed that the Student Rights and Responsibilities Committee (SRR) – an advisory committee to the Board - had approved a number of changes to the terms and conditions for the Judicial Committee and the Appeals Committee. It was reported that the SRR Committee would undertake a review of all the revised processes following one year of implementation, and propose changes to the policy as required.
SRR has completed its review and following consultation, including discussions with Ms. Hilary Jarvis, Governance & Judicial Officer, has approved revisions to the terms and conditions for the operation of the Judicial and the Appeals Committees, and for the hearing procedures.
The SRR Committee has also reviewed the use of the University of Guelph Offence Notice (UGON) process (a ticket issued by Campus Community Police) and made minor changes to the offences that apply. In addition, and in response to a recommendation from the Alcohol Task Force, the Committee approved a more substantive change whereby students found guilty of underage drinking could be charged under a UGON (University process) rather than the present practice of externally through a Provincial Offence Notice (PON). This change will enable the engagement of an educational approach to alcohol use, where appropriate, in place of the external process which relies solely on fines. Consultation with the city police was undertaken prior to approval of this recommendation. The SRR Committee is committed to reviewing the impact of these changes after one year of implementation.
Proposed Amendments to Non- Page 239 of 271 Academic Misconduct Policy Finally, the SRR Committee also reviewed and approved an Anti-Hazing Protocol which falls under the Policy on Non-Academic Misconduct. This Protocol will form a part of the University’s educational campaign regarding hazing
In addition to informing the Board of these matters of business, the SRR Committee is recommending changes to the Policy on Non-Academic Misconduct, and to the SRR Terms and Conditions. These draft revisions are attached for consideration by the Board of Governors in a “tracked changes” format. SRR recommends them to the Board of Governors, through the Governance Committee, for approval. The major changes are summarized below:
Policy on Non-Academic Misconduct
There are few substantive changes being proposed. 1. Inclusion of the reference to the Student At Risk Protocol that was approved by the Board of Governors last year. 2. Inclusion of a definition for Sexual Assault 3. Clarification as to authority for deciding if an internal process is to be followed in the event that a student has been charged externally - Campus Police, in consultation with the Associate Vice-President, Student Affairs.
Terms and Conditions for the Student Rights and Responsibilities Committee
The substantive changes to the Terms and Conditions relate to membership. Given the size of this committee, it is often hard to schedule meetings where everyone can attend.
1. Members may appoint an alternate. Allowing alternates to attend will hopefully increase engagement. 2. The quorum has been reduced. 3. Clarification is provided regarding the role of the resource individuals.
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UNIVERSI MGUELP
Policy on Non-Academic Misconduct Authorization: Board of Governors Policy Effective: September 2013 Editorial Changes: July 2014 Next Review: 2018-2019 To receive this document in an alternative format please contact the Office of Student Affairs by emailing: [email protected]
Table of Contents Purpose and Jurisdiction ...... 1 University Community Values ...... 2 Interim Suspension ...... 43 Process – Main Campus ...... 54 Periodic Review Process ...... 54
Purpose and Jurisdiction
1. The University of Guelph is an environment that develops the person, scholar & citizen. This Policy sets out the University’s expectations regarding student conduct as members of the University of Guelph community.
2. In this Policy, a “student” is any person registered in a diploma, undergraduate or graduate program at the University of Guelph or otherwise taking credit or non-credit courses offered by the University of Guelph, or any person who was a student at the time the alleged breach occurred. “Campus” means the physical grounds of either the University’s main campus or the regional campuses. This Policy does not apply to students registered at University of Guelph-Humber programs and attending Humber College.
3. Except as noted in paragraph 4 and 5, this Policy applies to all student non-academic behaviour on campus and to students who are engaged in University programs off campus. Allegations regarding other off campus conduct may be brought forward under this Policy if the violation in question materially affects the safety, integrity or educational interests of the University community or as provided under the Community Standards Protocol.
4. Alleged breaches of this Policy which arise within University residences may in the discretion of Student Housing Services, proceed under the Residence Community Living Standards.
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5. Alleged breaches of this Policy which arise at the Ridgetown regional campuses will be subject to the process and procedures specific to thate regional campuses.
6. Alleged breaches of this Policy committed by students who are identified as Students-At-Risk by the Student At-Risk Team (“SART”) may at the discretion of the SART team, proceed under the Protocol for Responding to Students At-Risk.
University Community Values
5.7. The University of Guelph’s core value is the pursuit of truth. It is animated by a spirit of free and open enquiry, collaboration, and mutual respect. It asserts the fundamental equality of all human beings and is committed to creating for all members of its community, an environment that is hospitable, safe, supportive, equitable, pleasurable, and above all, intellectually challenging (University of Guelph Act, 1964). It is expected that all members of the University community will support and enrich these values by interacting with each other in a manner that is respectful, civil and consistent with the following responsibilities. Failure to abide by these responsibilities, or assisting or conspiring with another individual to act contrary to these responsibilities may result in penalties.
Diversity
6.8. Students have a responsibility to help create and uphold an environment that respects the diversity and differences of members of our campus, and allows all members to be treated with dignity, worth and respect. An example of this type of responsibility is the requirement to abide by the University’s commitment to the Ontario Human Rights Code and the Human Rights at the University of Guelph Policy1.
Integrity
7.9. Students have a responsibility to help maintain the integrity of the University as a community for learning. An example of this type of responsibility is the requirement to abide by all Federal, Provincial and Municipal laws2 and University policies including but not limited to: a. Drugs and Drug Paraphernalia – to not possess, use, supply or traffic illegal drugs, drug paraphernalia or controlled substances. b. Alcohol - to possess, purchase, and/or use of liquor by those under the age of 19 is prohibited. The sale or provision of alcohol to anyone under the age of 19 is prohibited. Consumption or open possession of liquor is prohibited on campus other than in those areas where it has been specifically permitted. c. Smoking - to abide by the University’s policy, Smoking in the Workplace, which includes not smoking inside any University building or vehicle, or within nine metres of any building entrance or exit. d. Information Technology (IT) - to use computer login codes or passwords and University IT resources (e.g., computing account or workstation) in accordance with the University’s Acceptable Use Policy
1 Allegations of breach may be pursued either under this Policy or the applicable human rights policy or legislation 2 Allegations of criminal or other offences may be addressed off-campus under the applicable legislation. The University may also initiate charges under this Policy with respect to the same incident(s) if Campus Community Police in consultation with the Associate Vice-President Student Affairs determine that the allegation in question materially affects the safety, integrity and/or educational interests of the University community. 2 For Office Use Only: S:\SR&R\Protocol & Policy\Policy on Non-Academic Misconduct
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e. Permits and Identification - to not acquire, use, loan or disseminate University identification, express plans, building access cards, bus passes or parking permits that are stolen, borrowed, cancelled, lost, false, altered or expired. To not loan any of your identification to others nor alter or produce fake identification.
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Learning
8.10. Students have a responsibility to help support community members’ access to the tools they need to engage in their learning and development, both in and outside of the classroom. An example of this type of responsibility is the requirement to abide by the following: a. Access to University Property - to respect posted hours and limits on entry where such conditions exist. a.b. Property toand not destroy, tamper with, deface or vandalize, monopolize, unlawfully access, remove or possess property not your own, including but not limited to property of the University and personal property. b.c. Disruption - to not interfere with the normal functioning of the University, nor to intimidate, interfere with, threaten or otherwise obstruct any activity organized by the University, including classes, or to hinder other members of the University community from being able to carry on their legitimate activities, including their ability to speak or associate with others.
Safety
9.11. Students have a responsibility to support an environment that enables students to be safe and free from harm. An example of this type of responsibility is the requirement to abide by the following: a. Harassment - to treat all members of the University community with respect and without harassment. Harassment is defined as any attention or conduct (oral, written, virtual, graphic or physical) by an individual or group who knows, or ought reasonably to know, that such attention or conduct is unwelcome/unwanted, offensive or intimidating. Examples include but are not limited to bullying, hazing, sexual harassment, or unwanted sexual attention. b. Sexual Assault - to not assault any person sexually or threaten any person with sexual assault. Sexual assault is defined as any unwanted act of a sexual nature imposed by one person upon another and includes such activities as kissing, fondling, oral or anal sex, intercourse, or other forms of penetration, without consent. Sexual assault can also occur in a dating relationship or marriage. c. Bodily Harm - to not engage in activities that are likely to endanger the health or safety of yourself or another person, or to assault or threaten to assault another person or to knowingly cause another person to fear bodily harm. d. Firearms and Other Weapons - to not bring onto campus any firearms or weapons (examples include but not limited to: BB guns, slingshots, paintball guns, firecrackers, gunpowder or any other forms of unauthorized hazardous materials). Students are not allowed to use any objects to injure, threaten or intimidate a person. e. Fire and Life Safety Equipment - to not tamper or interfere with, discharge or activate any life safety or fire equipment on campus unless for the purposes of responding to an emergency. Life safety equipment includes but is not limited to defibrillators, fire extinguishers, fire alarms and emergency phones. f. Guests - to take reasonable steps to ensure your guests comply with this Policy. Students may be held responsible for any breach of the rules committed by your guests on campus.
Interim Suspension
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10.12. If a student has been charged with a breach under this Policy and a student’s conduct raises a reasonable apprehension of harm to the student or to others at the University, or the normal functioning of the University, the President or designate may, in his or her discretion, implement an interim suspension order. A Judicial Hearing will be undertaken as soon as possible and, in any event, no longer than fourteen working days from the laying of the charge.
Process – Main Campus
11.13. Students who do not comply with these responsibilities may be charged with a breach of this Policy in two ways: a. a ticket issued by Campus Community Police (a University of Guelph Offence Notice or “UGON”). or b. a charge laid by an individual or by the University.
12.14. The hearing process under this Policy is carried out by the Judicial Committee based on the principles of fairness, participation and efficiency.
13.15. The Judicial Committee has authority to issue orders and penalties as outlined in its Terms of Reference. If a student has been found guilty of previous breaches of this Policy or the Residence Community Living Standards, that information is made available to the Judicial Committee for penalty consideration.
Information on the Judicial procedures or common penalties may be obtained from the Judicial Website, or by calling the Judicial Officer, University Centre, at extension 52464 or from the Director’s Office at each regional campus.
Periodic Review Process
14.16. This Policy will be reviewed no less than every five years by the Student Rights & Responsibilities Committee. Comments and specific suggestions for amendments or additions to the Policy are welcome at any time and should be referred to the Office of Student Affairs at: [email protected].
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The Student Rights & Responsibilities Committee Terms of Reference
Terms Effective: 1998 Revised June 2006 Last Revised: June 2015
Section 1 – Committee Function
The Committee is an advisory body to the University of Guelph’s Board of Governors.
The central purpose of the Committee is to prepare and recommend non-academic student regulations that further a community environment conducive to learning, and to maintain the mandates of the University of Guelph Judicial Committee and its Appeals Committee.
The four main functions of the Committee are:
1. To prepare and recommend policies, rules, and regulations regarding student conduct and penalties for student misconduct. All policies, rules, and regulations shall be incorporated into one comprehensive document entitled: Policy on Non-Academic Misconduct.
2. To encourage student understanding and support for the Policy on Non-Academic Misconduct.
3. To review the non-academic student regulations of all University bodies and offices, and to prepare and recommend changes to units or to the Board of Governors, as needed.
4. To review annual reports that identify infractions of the Policy on Non-Academic Misconduct.
Section 2 – Committee Membership
The Committee membership is as follows:
1. Chair (non-voting member): The Associate Vice-President (Student Affairs) shall be the nonvoting Chair of the Committee.
2. Deputy Chair (non-voting member, when acting as Deputy Chair): The Committee shall select a Deputy Chair to serve as a designate to the Associate Vice-President.
3. Student Representatives (voting members): Nine Ten student representatives shall be nominated for a one year term, which can be renewed once. Each student unit listed below may also appoint an alternate who can act to fulfil Committee terms in place of the main representative as needed. The following student units shall be given the opportunity to appoint representation: To receive this document in an alternative format please contact the Office of Student Affairs by emailing: [email protected]
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a) one student from the Central Student Association b) one student from each of the seven College Governments c) one student from Interhall Council d) one graduate student from the Graduate Students’ Association
4. Faculty and Staff Representatives (voting members): A faculty or staff representative from each college shall be nominated by the Dean of the College for a two year term. Members may be reappointed for one additional term. A minimum of three representatives are to be faculty. Each college may also appoint an alternate to act in place of the main representative as needed. A faculty or staff representative from Ridgetown campus will receive meeting materials and can attend meetings. The Ridgetown representative will not count toward quorum.
5. Resource Representatives (non-voting members): The Committee may seek advice from such consultants, as it considers appropriate. Resource representatives the following positions:
a) The Chairs of the University of Guelph Judicial Committee b) The Judicial Officer c) Director of Campus Community Police d) The Director of Student Housing Services e) The Associate Vice-President (Student Affairs) shall appoint a secretary
Section 3 – Committee Quorum
Quorum includes the Committee Chair (or Deputy Chair), and 30% of voting representatives. a majority of the total representative appointed
To receive this document in an alternative format please contact the Office of Student Affairs by emailing: [email protected]
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Proposed Amendments to Non- Page 248 of 271 Academic Misconduct Policy UNIVERSITY SECRETARIAT
To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
e) Update to University Signing Authority Register
In accordance with the University of Guelph Act, the Board of Governors is charged with the authority to carry out the government, conduct, management and control of the University’s business affairs. The Board, through its Bylaw No.1, has identified those with general signing authority on behalf of the University. Historically, additional limited signing authority was provided to a select number of other administrative positions, primarily at the AVP level in the areas of finance, investment, human resources and physical resources.
In June 2013 the Board of Governors approved a revised Signing Authority Policy and Register. The purpose of the revisions was to expand the limited signing authority to identified academic and administrative positions, limited by either dollar amount or by categories of contract based on areas of responsibility. It was anticipated at the time that revisions to the register may be required periodically. Revisions to the Register were subsequently approved by the Board in June 2014, following identification of additional positions appropriate for limited signing authority.
An updated Register with one proposed addition (highlighted within section 12), is enclosed for the Board’s review and consideration. The Office of Legal Counsel has confirmed the proposed change has passed appropriate internal review. The proposed change was endorsed by the Governance Committee at its meeting May 20, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the proposed amendment to the Signing Authority Register, as presented.
Further to the above-noted Board Bylaw which identifies those with general signing authority on behalf of the University, it has been observed that further amendments to the Board’s Bylaw No.1 will also be required, in order to effect housekeeping amendments including updating of standing committee nomenclature [per section 7.2], as well as the provision of the Vice- President (External) as an officer of the University [per section 2.1].
Update to Signing Authority Page 249 of 271 Registry [Motion - CONSENT] In light of this and the stipulated process for proceeding with amendments to Board Bylaws, the Board of Governors is hereby provided with a notice of motion for proposed amendments to Board By-law No.1:
RESOLVE, That the Board of Governors accept and approve the proposed amendments to Board Bylaw No.1, as presented.
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Update to Signing Authority Page 250 of 271 Registry [Motion - CONSENT] Registry [Motion Update to Signing Authority
SIGNING AUTHORITY REGISTER - CONSENT] INDEX
The Signing Authority Registry is to be used in conjunction with the Signing Authority Policy and is intended to identify authorized signatories IN ADDITION to those Officers identified under the Board of Governors’ Bylaw No.1. The Signing Authority Registry does not alter the general signing authority of the Officers of the University.
SECTIONS PAGE 1. Academic Affiliation Agreements 2-3 2. Sponsorship & Commercial Activities 4 3. Construction, Maintenance & Physical Plant Utility Agreements 4 4. Facilities & Land Agreements 4-5 5. Financial Services Agreements 5 6. Gift & Affinity Agreements 5 7. Human Resources 6 8. Legal Settlements 6-7 9. Purchase of Materials & Services 6-7 10. Regional Campuses, University of Guelph-Humber 7 Page 251 of 271 11. Research-Related Agreements 8 12. Service Agreements – Non-Research 9 13. Approved Unit Budgets 9 14. Government Permits 10 Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR AUTHORIZED SIGNATORIES RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO
- (limitation by dollar SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), CONSENT] amount, if noted) each position named can act as a signatory for the specific class of agreement. 1. ACADEMIC AFFILIATION AGREEMENTS a) General affiliation agreements Agreement requiring one (1) signature only with other universities and AVP (Academic) academic institutions regarding Dean international exchanges and educational cooperation agreements and which are intended to be ceremonial in nature and either: i) no financial or other resources are committed on behalf of the University; or ii) where specific financial resources are required and have been pre-approved by the University b) Affiliation agreements with - EITHER OF: other universities and academic AVP (Academic) or institution including international AVP (Institutional Research and Planning) & Registrar exchanges, study abroad programs, educational cooperation agreements, dual Vice–Provost, University of Guelph-Humber** degree programs, transfers of academic credit
Page 252 of 271 c) Affiliation agreements with third AVP (Academic) * parties to provide primarily Dean* student placements as part of an Vice–Provost, University of Guelph-Humber** approved component of an academic program such as internships
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] c.1 Routine administrative Placement coordinator or person otherwise designated by the academic agreements related to student unit which is responsible for the placement placements which are subject to a signed agreement under section (c) (i.e. Ministry forms for insurance purposes, criminal checks etc.) d) Affiliation agreements with AVP (Student Affairs) third parties to provide primarily student experiential opportunities such as service learning, volunteer service Up to $100,000 Director of Student Life
e) Affiliation agreements with 3rd AVP (Institutional Research and Planning) & Registrar parties such as government or other educational institutions regarding registrarial matters such as international student recruitment, government
reporting, institutional research and planning and student financial aid
Page 253 of 271
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] 2. SPONSORSHIPS & COMMERCIAL ACTIVITIES Agreements for sponsorships or Up to $100,000 EITHER On-Campus Advertising for commercial activities AVP* or Promotion, Sales and Director, Athletics Solicitations
3. CONSTRUCTION, MAINTENANCE & PHYSICAL PLANT UTILITY AGREEMENTS Capital Projects Up to $1m AVP (Physical Resources) Authorization of Funds for Projects, Minor Alterations/Renovations Up to $500,000 Director, Finance and Administration (Physical Resources) and Similar Work (PR 1.2.10)
Agreements relating to the supply Up to $1m AVP (Physical Resources) of Utilities to the University
Up to $500,000 Director, Finance and Administration (Physical Resources) 4. FACILITIES & LAND AGREEMENTS Agreements relating to long-term Agreement is for AVP* use of University facilities more than 3 years (excluding land) by 3rd parties or annual value of lease is greater than $50,000 Page 254 of 271 Agreement is for 3 AVP*, years (or less) or annual value of EITHER OF: lease is up to Director, Real Estate Division or designate*, $50,000 Director, Research Facilities Management and OMAFRA-UofG Agreement* Director, University Centre*
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] Agreements relating to long-term Director, Real Estate Division use of University land incl. easements, leases and licenses for non-academic purposes. Agreements for University to use, Agreement is for EITHER OF: lease or license land or facilities less than 3 years Associate AVP (Academic) if purpose if academic in nature or belonging to a 3rd party or annual value Director, Real Estate Division if purpose is non-academic in nature of lease is up to $50,000 5. FINANCIAL SERVICES AGREEMENTS Administrative agreements related EITHER: Officers, Signing Officers, to purchase, transfer, exchange or Director of Investments*or, Signing Authorities otherwise dispose of securities Director, Treasury Operations* Execution of Documents, and investments; routine banking and Further Delegation – matters including the deposit with General - GE 1.0 or transfer to the credit of the University's account only Agreements related to employee AVP (Human Resources) group benefits 6. GIFT & AFFINITY AGREEMENTS Agreements related to charitable Up to $1 million EITHER OF: Gift Acceptance Policy – gifts of cash or in kind including AVP (Alumni Advancement) or Board of Governors marketable securities (not real AVP (Major Gifts) or estate) Chief Operating Officer (Advancement) Acceptance of Gifts of Marketable Securities Policy
Page 255 of 271 – Treasury Policy – Fl 21.0
Agreements related to non- See: Sponsorship and Commercial Agreements charitable gifts
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] 7. HUMAN RESOURCES Collective Agreements, EITHER: Memoranda of Agreement with AVP (Human Resources) or non-unionized employees (e.g. Director, Staff Relations or exempt group, PSA) Senior Consultant Staff Relations Collective Agreements, AVP (Faculty and Academic Staff Relations) Memoranda of Agreement with UGFA Collective Agreements, EITHER: Memoranda of Agreement with AVP (Human Resources) or unionized employee groups Director, Staff Relations or excluding UGFA Senior Consultant Staff Relations Settlement documents, AVP (Faculty and Academic Staff Relations)* agreements, releases etc. relating EITHER: to grievances and arbitrations -AVP (Human Resources) or under collective agreements Director, Staff Relations or Senior Consultant Staff Relations* 8. LEGAL SETTLEMENTS Settlement documents, University Legal Counsel agreements, releases relating to legal matters 9. PURCHASE OF MATERIAL & SERVICES Agreements relating to the Up to $1 million Manager, Purchasing Services Purchasing Policy- Fl 18.0 acquisition of goods and services Up to $500,000 Assistant Manager, Purchasing Services including service, licensing and Up to $100,000 Chair of ordering department (or designate) Page 256 of 271 maintenance agreements/warranties excluding those obtained through Physical Resources
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] Agreements relating to the Up to $1million AVP (Physical Resources) acquisition of goods and services including service, licensing and Up to $500,000 Design, Engineering and Construction Manager maintenance agreements/warranties obtained Up to $100,000 Design, Engineering and Construction Project Manager through Physical Resources Up to $25,000 Director (Physical Resources)
Agreements relating to the Chief Information Officer or designate acquisition of academic materials, journals, etc. Agreements relating to the Director, Hospitality Services or designate acquisition of goods and services Up to $25,000 Director, University Centre including Engagement of consulting and AVP (Human Resources) broker services for benefits, wage and salary administration 10. REGIONAL CAMPUSES, UNIVERSITY OF GUELPH-HUMBER Regional Campuses: Kemptville, Up to $100,000 Director of the Regional Campus Ridgetown, Alfred: Dean -Agreements renewed on a regular basis with government (i.e. Liquor License) or agreements (based on approved templates) -agreements with non- Up to $25,000 Director of the Regional Campus
Page 257 of 271 governmental third parties Dean
University of Guelph- Humber: any Vice-Provost, University of Guelph-Humber agreement on behalf of the University as it pertains to academic matters
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] 11. RESEARCH-RELATED AGREEMENTS Research funding applications and Agreement requiring one (1) signature only proposals AVP (Research Services) Managing Director of Research Operations Research Awards, agreements or Up to $250.000 ANY OF: grants, research affiliation or AVP (Research Services) or delegate collaboration agreements, Manager, Research Financial Services network participation agreements Managing Director of Research Operations with 3rd parties such as incorporated research centres, governments, academic institutions (excluding those under the OMAFRA Agreement (April1, 2008-March 31, 2018 Research affiliation or collaboration Up to $250,000 AVP Research (Strategic Partnerships) agreements pursuant to the Director, Research Facilities Management and OMAFRA-U of G Agreement OMAFRA Agreement (April1, 2008- March 31, 2018)
Research funded acquisitions See: Purchase of Materials and Services Research Service Agreements Up to $250,000 ANY OF: where University’s research AVP (Research Services) centres or units provide analytical Manager, Research Financial Services testing or other services Managing Director of Research Operations Agreements for intellectual property Up to $250,000 -AVP Research (Strategic Partnerships)
Page 258 of 271 management and ownership, NDAs, material transfer agreements, data- EITHER: sharing agreements, agreements Director, Catalyst Centre* or relating to commercialization Director, Research Facilities Management and OMAFRA-UofG Agreement* initiatives including licensing, equity transactions and commercial agreements such as shareholder agreements
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) - CONSENT] 12. SERVICE AGREEMENTS – NON-RESEARCH Service Agreements where Agreement requiring one (1) signature only University’s research centres or AVP (Strategic Partnerships) units provide a professional, administrative, technical or educational service, program or product to a 3rd party (and not covered by any other policy)
Centre for Open Learning and Up to $250,000 Agreement requiring one (1) signature only Educational Support Director, Centre for Open Learning and Educational Support
Centre for Business and Student Up to $50,000 Dean Enterprise Director, Centre for Business and Student Enterprise All others EITHER OF: AVP* Chief Information Officer* Chief Operating Officer (Advancement)*
Up to $50,000 EITHER OF: Dean* Chair* Up to $30,000 Director, Equine Guelph*
13. APPROVED UNIT BUDGETS Page 259 of 271 Contracts which are entered into Unit head (Dean, Chair or Department Heads, Director) Delegation of Authority for in accordance with the Annual Unit authorized delegate Commitment of University Budget submissions as approved Funds Upon Budget Unit Budgets Allocation – General Policy - GE 5.0
REVISED May 14, 2015
Registry [Motion Update to Signing Authority
TYPE OF AGREEMENT DOLLAR SIGNING AUTHORITY RELATED POLICY THRESHOLD UNLESS OTHERWISE INDICATED, EACH AGREEMENT MUST HAVE TWO -
CONSENT] (limitation by SIGNATORIES. Unless otherwise identified in the alternative (“either of: a or b”), dollar amount, if each position named can act as a signatory for the specific class of agreement. noted) 14. GOVERNMENT PERMITS
Government permits (i.e. liquor Agreement requiring one (1) signature only licenses, building and demolition permits, federal licenses, Director of the unit/area with responsibility provincial ministry permits)
*for agreements within his/her unit/area of responsibility **for agreements pertaining to the University of Guelph-Humber ***for permits within his/her unit/area of responsibility
Page 260 of 271
REVISED May 14, 2015
UNIVERSI 9‘GUEI.PH TY UNIVERSITY SECRETARIAT
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
f) Art Gallery of Guelph Board of Trustees: University Appointees
In 1978 the Macdonald Stewart Art Centre was established as an institution through an act of provincial parliament and since that time has operated as a partnership between the Upper Grand District School Board, the University of Guelph, the City of Guelph and the County of Wellington. In 2012 Wellington County requested to step away as a partner and an opportunity was presented to give the remaining three partners the opportunity to rewrite parts of the Macdonald Stewart Art Centre Act to clarify the centre’s role in the community and consider changing its name.
On May 1, 2015 the Macdonald Stewart Art Centre officially began operation as the Art Gallery of Guelph (AGG). This change was a result of a name change process initiated in 2012, and achieved when the Art Gallery of Guelph Act received Royal Assent on December 11, 2014. (Bill PR6, Art Gallery of Guelph Act, 2014, can be viewed here: http://www.ontla.on.ca/web/bills/bills_detail.do?locale=en&Intranet=&BillID=3062)
Section 6.2.2 of the Act stipulates the following:
The board [of the AGG] shall be composed of not less than eight and not more than 25 trustees as follows: 1. No more than three persons appointed by the council of the City of Guelph. 2. No more than three persons appointed by the Board of Governors of the University of Guelph. 3. No more than three persons appointed by the Upper Grand District School Board. 4. No more than three persons elected by the members of the Gallery. 5. Such other persons as may be appointed by the other sponsoring bodies, if any, in such number as may be determined by the board, but not more than three persons for each additional sponsoring body.
AGG Trustees are appointed for two-terms, per the AGG by-laws, unless the sponsor (e.g. the University) determines otherwise. Reappointments are exercised for two-year terms unless directed differently by the sponsor.
Ms Rebecca Graham, CIO and Chief Librarian is currently Chair of the Board of Trustees of the AGG, with eligibility for re-appointment in July 2016.
Art Gallery of Guelph Board of Page 261 of 271 Trustees: University Appointees Ms Martha Harley, Associate Vice-President (Human Resources) is currently a member of the AGG Board of Trustees, with the eligibility for re-appointment in July 2015.
Mr. Daniel Atlin, Vice-President (External) has been invited to be appointed to the AGG Board of Trustees in July 2015.
The Governance Committee endorsed each of the above-noted individuals for appointment to the AGG Board of Trustees, at its meeting May 20, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that Ms Rebecca Graham be appointed as a University representative on the Art Gallery of Guelph Board of Trustees, for a term ending in July 2016.
And,
RESOLVE, That the Board of Governors accept and approve that Ms Martha Harley be appointed as a University representative on the Art Gallery of Guelph Board of Trustees, for a two-year re-appointment beginning in July 2015.
And,
RESOLVE, That the Board of Governors accept and approve that Mr. Daniel Atlin be appointed as a University representative on the Art Gallery of Guelph Board of Trustees, for a two-year term beginning in July 2015.
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Art Gallery of Guelph Board of Page 262 of 271 Trustees: University Appointees UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
g) Internal Governors Appointments & Outcome of 2015 Elections
In the winter 2015 semester the University Secretariat issued a call for nominations across campus constituencies, to fill elected positions on the Board of Governors. A call for nominations was also issued for vacancies in pension plan representative positions on the Pensions Committee. The information and motions that follow reflect the outcome of these nomination and election processes. Nominee statements submitted by the individuals named in the motions are provided for the Board’s information.
The following appointments have been endorsed by the Governance Committee, for approval by the Board of Governors:
i) Undergraduate Students
Mr. Peter Miller and Mr. Daniel Troster’s terms as undergraduate student representatives on the Board will end June 30, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that Ms Jennah Carere and Mr. James Rice be appointed to the undergraduate student seats on the Board of Governors for one-year terms effective July 1, 2015 through to June 30, 2016.
ii) Graduate Student
Mr. Anne Laarman’s term as graduate student representative on the Board will end June 30, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that Ms Adina Bujold be appointed to the graduate student seat on the Board of Governors for a one-year term effective July 1, 2015 to June 30, 2016.
Internal Governor Appointments: Page 263 of 271 2015-16 [Motions - CONSENT] iii) Faculty
Professor Mike Ridley’s term as a faculty representative on the Board of Governors will end on June 30, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the appointment of Professor Sally Hickson to the Board of Governors for the period July 1, 2015 to June 30, 2018.
iv) Staff
Mr. Ric Jordan’s term as a staff representative on the Board of Governors will end on June 30, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve the appointment of Ms Irene Thompson to the Board of Governors for the period July 1, 2015 to June 30, 2018.
v) Pensions Committee – Professional Plan Representatives
Mr. Kelly Bertrand’s term as a Professional Plan Representatives on the Pensions Committee will end on June 30, 2015. Professor Kelly Meckling’s term the UGFA-nominated Professional Plan Representative on the Pensions Committee will end on June 30, 2015. The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that Mr. Kelly Bertrand and Professor Kelly Meckling be appointed as Professional Plan Representatives to the Pensions Committee of the Board of Governors for two-year terms effective July 1, 2015 to June 30, 2017.
vi) Pensions Committee – Retiree Representative
Dr. Robin Davidson-Arnott has indicated he will retire from his term on the Pensions Committee as of June 30, 2015.
The Board of Governors is asked to,
RESOLVE, That the Board of Governors accept and approve that Dr. Doug Badger be appointed as University of Guelph Retiree’s Association Representative on the Pensions Committee of the Board of Governors for two-year terms effective July 1, 2015 to June 30, 2015.
Nominee statements and/or biographical summaries of each of the above-noted Board appointees, are enclosed.
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Internal Governor Appointments: Page 264 of 271 2015-16 [Motions - CONSENT] UNIVERSITY SECRETARIAT
To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 9. Governance Committee Report
Meeting: Thursday, June 4, 2015
h) Proposed Changes to Terms of Reference – Audit and Governance Committees
Standing committees review their terms of reference at least annually and recommend any changes to the Board of Governors for approval following review by the Governance Committee.
i) Audit Committee
The Audit Committee has recently completed a review of its terms of reference and is recommending a number of amendments including:
• Change name of the Committee to "Audit and Risk Committee" to better reflect its overall mandate • Housekeeping amendments to reflect the current expression of roles in Audit Services (i.e. Chief Internal Auditor), as well as the Chief Risk Officer • [In section A]: inclusion of language to appropriately reflect the Committee's responsibilities for oversight of internal audit, external audit and risk management functions • [In section A]: explicit reference to the Committee's role in oversight of the University's program of Enterprise Risk Management • [In section A]: inclusion of language that clarifies the Committee's oversight role for communications among the External Auditor, Chief Internal Auditor, Chief Risk Officer, and President and for each of these individuals with the Audit Committee • [In section B.1.1.8. and B.1.1.9.]: language to clarify authority delegated to the Chair with regard to non-audit work, including provision that the University's Senior Administration make recommendations to the Committee Chair in this regard and circumstances where judgments must be presented to the Audit Committee as a whole for decision • [In section B.1.1.7. and B.1.2.3]: language to incorporate both annual and periodic comprehensive reviews pertaining to external and internal auditing services/functions • [In section B.2.]: language to clarify responsibilities for Audit Committee oversight of risk management
Proposed Amendments to Page 265 of 271 Terms of Reference: Audit and • [In section C]: amend language concerning appointment of Vice-Chair from "shall" to "may" have a vice-chair
Enclosed is an annotated edition of the Committee's current terms of reference detailing the proposed amendments. The Governance Committee has considered and endorsed the proposed changes.
ii) Governance Committee
At its meeting May 20, 2015 the Governance Committee reviewed its terms of reference with a view to identifying suggested changes. While no changes to the language of the terms of reference were identified, the Committee agreed that consideration be given to change its name to “Governance and Human Resources Committee”, to more appropriately reflect the Committee’s responsibilities with respect to labour relations.
This change is reflected in the annotated version of the Committee’s terms of reference, found with the online supporting materials.
The Board of Governors is asked to
RESOLVE, That the Board of Governors accept and approve the proposed amendments to both the Audit Committee and the Governance Committees’ Terms of Reference, as presented.
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Proposed Amendments to Page 266 of 271 Terms of Reference: Audit and UNTVET QFGUELP
BOARD OF GOVERNORS AUDIT AND RISK COMMITTEE
TERMS OF REFERENCE
Effective: Board of Governors, July 1, 1989 Revised: November 21, 1996; September 28, 2000; December 4, 2003; December 14, 2005; April 18, 2007; June 6, 2008; January 13, 2010; October 24, 2012; [date TBD]
A. Mandate
The Audit and Risk Committee is a standing Committee of the Board of Governors responsible for assessing recommendations and reports on the finances, financial controls and risk exposures of the University. The Committee’s function includes review of financial reporting, internal controls, safeguarding of the University’s assets and general risk exposure. The Committee monitors the competence with which external and internal audits are conducted, confirms that auditors’ recommendations are given due consideration, and that auditors’ have independence in their relationship with University Administration. ensuring that appropriate controls and accountabilities exist within the University with respect to finance and areas of material risk, including but not limited to, environmental issues and health and safety.
More specifically, Tthe Committee’s primary responsibilities include oversight ofare to monitor that:
• the University’s financial reporting processes to confirm the transparency and integrity of financial reportsare sound; and • the University’s Enterprise Risk Management framework, including the internal control and risk management environment, internal and external audit functions to confirm it meets the needs of the Universityare competently performed; and • appropriate processes are in place to identify, report and control areas of significant risk to the University; and • the effectivenss of the internal and external audit functions; and, • the lines of there is provision of an avenue of communication among the External Auditor, President, Chief Risk Officer, Chief Internal Auditor and the Audit Committee to confirm they support appropriate and timely action in fulfillment of the Committee’s responsibilities. management, the internal audit function and the Board of Governors.
B. Committee’s Responsibilities Include
1. Financial Reporting
1.1. External Audit 1.1.1. Review and recommend the appointment of the External Auditor to the Board of Governors, including the related engagement fees., to the Board of Governors. 1.1.2. Review and approve the External Auditor’s Letters of Engagement and Independence and Scope of Services, consistent with the terms of appointment approved by the Board of Governors. 1.1.3. Review a list provided by the External Auditor describing its fees for other audits and non-audit services for the previous fiscal year. 1.1.4. Review and approve the External Auditor’s comprehensive audit plan, scope of the examination, and the nature and level of support to be provided by the internal audit function.
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Proposed Amendments to Page 267 of 271 Terms of Reference: Audit and 1.1.5. Review the External Auditors’ report upon completion of their audits. 1.1.6. At least once a year, meet privately with the External Auditor. 1.1.7. Monitor the performance of the external audit function. 1.1.8. Review any requests to use the External Auditor`s firm for non-audit work. Non- audit work to be considered for provision by the External Auditor`s firm will not include any situations where the External Auditor`s firm will act in a managerial or strategic function or will involve either a potential conflict or impairment of independence. The Audit Committee shall only permit the External Auditor to perform such non-audit work if the Audit Committee has (a) received confirmation from the External Auditor that, in the External Auditor's view, doing such non- audit work will not place the External Auditor in a conflict nor impair the External Auditor's independence and (b) received similar confirmation from the University’s Senior Administration (i.e., CFO/CRO) that the proposed engagement complies with the related requirements and limitations expressed in these Terms of Reference. Typically, the total expense of non-audit work should not be greater than the expense of the audit work in any given year. 1.1.9. Where such permission for non-audit work is required between regularly scheduled meetings of the Committee and time is of the essence, the Chair of the Audit Committee delegates to the Chair of the Audit Committee has the delegated authorityresponsibility to complete the necessary review following the procedures of 1.1.8, above, where the proposed non-audit work does not entail a fee in excess of $75,000. The Chair will report the outcome of any such action to the Committee at its first scheduled meeting following such review. Notwithstanding the ability to use delegated authority, the Chair of the Committee may choose to consult with the Committee and/or engage its members in the decision-making on these matters.
1.2. Internal Audit 1.2.1. Review and approve the annual and 5 year Work Plans of the internal audit function as well as reviewing significant findings or recommendations submitted by the Manager, Audit ServicesChief Internal Auditor and follow up on resultant action plans. 1.2.2. At least once a year, meet privately with the Manager, Audit ServicesChief Internal Auditor to confirm that the function is objective (free of conflicts), has the capacity and capabilities to perform the Work Plans and sufficient organizational authority to facilitate the provision of independent report from managementthe reporting relationship ensures independence from management. 1.2.3. Monitor the performance of the internal audit function.
1.3. Financial Statements 1.3.1. Review and recommend the University’s Annual Audited Financial Statements as well as reviewing significant findings or recommendations submitted by the External Auditor. 1.3.2. Review and recommend the University’s Heritage Fund Annual Combined Audited Financial Statements as well as reviewing significant findings or recommendations submitted by the External Auditor. 1.3.3. Review and recommend the University of Guelph-Humber Annual Audited Financial Statements as well as reviewing significant findings or recommendations submitted by the External Auditor. 1.3.4. Review the University’s Annual Audited Pension Plans Statements as well as reviewing significant findings or recommendations submitted by the External Auditor or Pensions Committee.
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Proposed Amendments to Page 268 of 271 Terms of Reference: Audit and 2. Risk Management 2.1. Review and approve annually, the Enterprise Risk Management framework for process in the organization, including risk appetite, that confirmsensures that appropriate processes are in place to identify, assess and report on determine management’s control framework and identify, assess and report on material risks, including actions being taken to address and/or mitigate these risks. parameters and risk appetite, and to identify, report and control areas of material risk across the organization. 2.2. At least once a year, meet privately with the University officer(s) with the responsibility for coordinating the Enterprise Risk Management functionChief Risk Officer to confirm that the function is objective (free of conflicts), has the capacity and capabilities to perform the work plans, and sufficient organizational authority to facilitate the provision of complete, accurate and timely reports to the Committee. 2.3. Ensure Confirm that material risks are being addressed by the appropriate committee(s) of the Board and collect information from these committees to be able to provide comprehensive reporting to the Board at least annually. 2.4. Receive regular reports from management on areas of significant risk to the University, for example but not limited to legal claims, environmental issues, health, safety, and other regulatory matters.
3. Other 3.1. Review annually the Committee’s mandate and recommend changes as necessary. 3.2. Perform such functions as may from time to time be assigned to the Committee by the Board of Governors, including special examinations as may be required from time to time, and if appropriate retain special counsel or experts to assist.
C. Membership
Voting members shall all be external members of the Board of Governors and not be simultaneously members of the Finance Committee.
1. Up to six Board members appointed by the Board; 2. Ex-officio members shall include: Chair of the Board; 3. The President attends meetings but is not a member (non-voting); 4. The Secretary of the Board attends all meetings but is not a member (non-voting).
The Committee shall may have both a Chair and a Vice-Chair in recognition of the significance of the Committee’s two primary areas of responsibility – Financial Reporting and Risk Management. When aThe Vice-Chair appointment is made, the role of this individual will be to take leadership primary accountability for aspects of the Committee’s functions that are undertaken in fulfillment of the overseeing the Risk Management responsibilities as described in these Terms of Reference. noted above.
D. Quorum and Meetings
1. Quorum for the Audit Committee is as provided in General By-law 7.9: two-fifths (2/5) of the membership. 2. The Committee will normally meet three times annually and more frequently as necessary.
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Proposed Amendments to Page 269 of 271 Terms of Reference: Audit and Page 270 of 271 UNIVERSI 9‘GUEI.PH UNIVERSITY SECRETARIAT TY
Cnmcxnc Lxvms Invmxovme Lxra To: Members, Board of Governors
From: Vicki Hodgkinson, University Secretary
Subject: 11. Move to Closed Session
Meeting: Thursday, June 4, 2015
a) Move to Closed Session
The Board of Governors is asked to,
RESOLVE, That the Board of Governors move into Closed Session and that Daniel Atlin, Karen Bertrand, Malcolm Campbell, Serge Desmarais, Gen Gauthier, Martha Harley, Don O’Leary, Kate Revington be invited to remain for the Closed Session of the meeting.
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Move to Closed Session Page 271 of 271