AUTHORITY
The Saskatchewan Research Council (SRC) is a Treasury Board crown corporation governed by The Research Council Act. Within this framework, the Board formulates policy and delegates the responsibility and authority for the ongoing management of the corporation to the President & CEO.
BOARD RESPONSIBILITIES
The Board ensures that the activities of the corporation are carried out under the terms of The Research Council Act. The Board oversees the stewardship of the corporation by accepting responsibility for strategic planning, financial management and monitoring business performance. The Board ensures that management has systems in place to identify and manage the principal risks of the corporation's business.
BOARD COMPOSITION AND COMPENSATION
The SRC Board is comprised of five members whose knowledge and expertise includes science, agriculture, energy, law, finance, audit, management and entrepreneurship. The members represent a cross-section of SRC's stakeholder community including individuals from business, industry, the public sector and academic institutions.
Four directors, including the Chair, are independent of SRC management. The related director is the President & CEO of the corporation.
Board members receive an honorarium for meetings attended. The level of compensation is established by Treasury Board. Members are allowed travel and associated expenses at SRC approved rates.
THE BOARD AND MANAGEMENT
The Board focuses on the strategic leadership of the corporation and does not become involved in day-to-day management, but delegates and entrusts operational decisions to senior management, holding senior management accountable for the company's performance, its long-term viability and the achievement of its objectives.
COMMITTEES
The Board of Directors has established the following committees to address specific areas of Board responsibility:
Audit & Finance Committee
The Audit & Finance Committee is responsible for monitoring, advising and making recommendations to the Board regarding all aspects of financial planning and the financial management of the organization. The Committee acts as the communication link between the Board of Directors and the Provincial Auditor.
Governance & Nominating Committee
The Governance & Nominating Committee is responsible for overseeing the governance strategy of the corporation, assessing and evaluating Board, President/CEO and corporate performance, administering the Board-President/CEO relationship and monitoring and assessing the risk management process and framework within the corporation.
