Tim has been Treasurer for six not-for-profit, charitable organizations over the past 15 years. For each of these organizations, he has chaired the Finance and Audit committees. His oversight role in each of these organizations includes review and, in some cases, assisting with the preparation of the Annual Operating Budget, review of the internal operating statements, review of the draft audited statements, review of the audit findings report, review and, in some cases, assistance with the preparation of the risk register, review and, in some cases, preparation of the Annual T3010 information return, (Registered Charity Report) review and approval of CEO expenses, active participation in the Strategic Planning process, review and in some cases, development of financial policies, review of the organization’s insurance needs and monitoring the organization’s investment fund.
With over 20 years work experience at a Chief Financial Officer (CFO) level, Tim has a good grasp on what is required to operate an effective and efficient finance and IT function and has used this experience in discharging his oversight duties for each of the six boards he has been a member of.
From a board member perspective, Tim has established a Finance and Audit Committee at Empower Simcoe and Autism Society Canada where no committee existed in the past. Establishment of this committee provided further oversight relative to the financial matters of the organization. In four organizations, Empower Simcoe, United Way of Greater Simcoe County, Autism Society Canada and ShelterBox Canada, he introduced a Risk Register which is a tool the Board and Management use to track and monitor risks facing the organization. He was extensively involved in the RFP process ( Request For Proposals) for selecting independent auditors while serving on three of the Boards. He has been part of the search team to find a new CEO on three of the six boards. As Treasurer, Tim has been involved in the organization’s banking relationship and has provided oversight over a change in bank vendors. He has been involved in either creating or updating the organization’s investment policy. He has also been involved in establishing an overarching scorecard for the organization which looks at several key metrics that provide a “barometer’ of how the organization is performing. Some of the smaller boards, Tim has served on did not have the internal resources or expertise, so he assisted management in developing/fine tuning the monthly operating statements, assisting with the annual operating budget preparation, and working directly with the external auditors in the review of the draft audited statements.
Notwithstanding the financial oversight, Tim is an active contributor to the Board on governance matters, CEO annual performance evaluation, strategic planning, attending organization events and being involved in legal matters that have arisen from time to time.