Standing and Ad-hoc Committees Clause Samples
The 'Standing and Ad-hoc Committees' clause defines the establishment and operation of permanent (standing) and temporary (ad-hoc) committees within an organization or governing body. It typically outlines how these committees are formed, their membership, and their specific roles or mandates—standing committees might oversee ongoing functions like finance or audit, while ad-hoc committees are created for specific, short-term tasks such as investigating a particular issue. This clause ensures that the organization can efficiently delegate responsibilities and address both routine and exceptional matters through appropriately structured groups.
Standing and Ad-hoc Committees. The Company may create, or may serve as a committee of the whole, subject to the approval of the Member, the following standing committees (“Standing Committees” and with any ad hoc committee the “Committees”), each with the powers and responsibilities set forth below in this Article VIII, Section 1, and each of which shall report to the Board of Managers of the Company with respect to its activities and findings: Finance and Audit Committee; Nominating Committee; Compliance, Patient Safety, and Quality Assurance Committee; Nominating Committee; and Strategic Planning and Facilities Committee. Standing Committees shall not be authorized to act on behalf of the Board of Managers.
Standing and Ad-hoc Committees. A. Audit
i. An Audit Committee shall be appointed annually by the Board of Directors and shall consist of the following members:
1. the CAO's from each of the Municipalities (ex officio)
2. One citizen recruited from Yarmouth County with financial acumen.
3. three members of the of the Board of Directors, one being the Chair, and
4. the Airport General Manager (ex officio).
5. The Audit Committee shall be responsible for:
a. Recommending the Auditor to the Board;
b. conducting a detailed review of the financial statements of the YIAC with the Auditor on an annual basis;
c. reviewing the conduct and adequacy of the audit;
d. investigating such matters arising out of the audit as may appear to the Audit Committee to require investigation;
e. conducting a detailed review of the non-audited internal financial statements of the YAIC with management on a quarterly basis;
f. evaluating the adequacy of the internal control systems of the YIAC;
g. any other matters determined by the Board of Directors to be the duties of the Audit Committee and making recommendations to the Board of Directors
B. Other Standing and Ad-hoc Committees
i. The Board has the authority to establish sub-committees of the Board, including ad-hoc committees;
ii. Terms of Reference shall be approved by the Board for each standing and ad-hoc committee;
iii. Terms of Reference shall be reviewed at least annually.