UTAA Finance committee

1. The Board of Directors (the “Board”) has established the Finance Committee
(“Committee”) pursuant to section 34 of THE UNIVERSITY OF TORONTO ALUMNI
ASSOCIATION BY-LAW NO. 2008-1 (the “By-Law”).

2. The Committee shall have such authority and responsibility as set out in this Charter.

3. The Committee shall be appointed by the Board and shall consist of at least three
members of the Board, one of whom shall be the Treasurer of the University of Toronto
Alumni Association (the “UTAA”), and one of whom shall be the President of the
UTAA. The Treasurer shall be the Chair of the Committee.

4. The Committee shall meet at least once in each financial year or more frequently as circumstances may dictate or at the call of the Treasurer.

5. The Committee shall assist the Treasurer in the discharge of their duties as set out in section 29 of the By-Law, and as set out below:

a)    assist the Treasurer in developing, maintaining and recommending to the Board the UTAA annual operating budget, and any proposed revisions thereto, as directed by the Board; 
b)    develop, maintain and implement Funding Guidelines for the purpose of reviewing funding requests submitted to the UTAA. The Board shall approve the Funding Guidelines and any amendments thereto; and 
c)    meet periodically to develop recommendations regarding funding matters and report its recommendations to the Board in a timely manner. Specifically, the Committee shall:
•    ensure that all material funding requests and material budget related matters are submitted for inclusion on the Board agenda for timely discussion and resolution by the Board; and
•    review and dispose of non-material funding requests and non-material budget-related matters proactively, provided, however, that the Board is informed of all such requests and matters as soon as practicable.

6. For greater certainty, funding requests and budget-related matters shall be considered
non-material if and when a decision made regarding same does not have a material
impact on the funds and assets of the UTAA and the Committee reasonably believes that
the Board would reach the same decision regarding such requests or matters.
 

7. The Board may specifically delegate further review of issues, specific funding decisions,
as well as the implementation and/or communication of any final decisions to the
Committee, and rescind any such delegated authority, as the Board sees fit.

8. The Committee shall assist the Treasurer in developing, maintaining and implementing
an Investment Policy, and monitoring and evaluating the work performed by the investment
advisors selected by the Board to hold and/or invest UTAA funds. The Board shall approve
the Investment Policy and any amendments thereto.

9. The Committee shall recommend to the Board the appointment of investment advisors,
auditors, and other third party professionals required to assist the Board and the Committee
in discharging its responsibilities, and shall review such appointments periodically in its
reasonable discretion or as directed by the Board, and make recommendations to the Board
regarding any proposed changes to arrangements with such third parties.
 

10. The Committee shall review and update this Charter on a regular basis for approval by
the Board