Governance

Board of Trustees

Jesse Farough President Medicine Hat College Students’ Association Cindy MacDonald Office Administrator Acadia Students' Union, Acadia University Heather Love General Manager University of Prince Edward Island Student Union Oliver Okafor Vice-President Finance and Operations Graduate Students' Association of the University of Calgary

Matt Kington Vice-President Finance University Students' Council of The University of Western Ontario Patti Hutchison Health Plan Administrator Mount Saint Vincent University Students' Union Morris MacLeod Chief Financial Officer Mount Saint Vincent University Students' Union Kyle Steele President Acadia Students' Union

Structure and Governance

The Campus Trust ("the Trust") is situated in Ontario, the province with the most exacting regulations for disclosure and accountability. However, it is served through an existing network of offices in St. Johns, Montreal, Toronto, Winnipeg, Calgary and Vancouver, with plans for two more in Halifax and Edmonton.

Much like a corporation, the Trust is owned by its stakeholders - the student beneficiaries of the plans it sponsors. Currently, there are about twenty thousand of such beneficiaries whose interests are represented by a governing board of trustees. Composed of no fewer than six, and no more than ten members, the board of trustees are appointed by the student associations ("Participating Organizations") that join the Trust.

For the sake of continuity, no more than fifty percent of the trustees are chosen, from among the managers of the Participating Organizations. They serve at least three years. A minimum of fifty percent of the trustees are students, elected or appointed by Participating Organizations and are entitled to serve for at least two years. Each group of trustees - managers and students - have staggered terms, so that experience and knowledge may be preserved and passed on. And, for the sake of broad representation, the right of appointment is rotated among all Participating Organizations.

Decisions on the Trust operations are made by majority vote of the trustees, in attendance at the particular meeting. The Chair casts a vote only in the case of a deadlock.

The trustees meet at least twice each year, one meeting of which is designated as the annual meeting. The annual meeting is held no later than January 31 of the year following the end of the preceding fiscal year of the Trust.

Responsibilities of Trustees

Within the context and the constraints of a trust deed, the trustees focus their efforts on the protection and the enhancement of the students' beneficial interests. In doing so, the trustees must use good judgement which, in law, must be evenhanded, wise and prudent.

Some of the more significant responsibilities of the trustees are described below.

• Adopt procedures, by-laws, rules or regulations as they deem necessary for the carrying out of the Trust.
• Enter into any and all contracts and agreements for carrying out the terms of the trust agreement, the benefit plans and the administration of the Trust.
• Delegate any of their administrative powers or duties, as they deem necessary, to any of their agents or employees.
• Create, administer, amend or replace benefit plans with the agreement of Participating Organizations.
• Collect contributions from Participating Organizations.
• Pay, or provide for the payment of, benefits to eligible beneficiaries.
• Pay all reasonable expenses for collecting contributions and for administering the Trust and the benefit plans it sponsors.
• Compromise, settle, arbitrate and release claims or demands in favor of, or against, the Trust or the trustees
• Establish and accumulate, as part of the Trust and the benefit plan(s), such reserve(s) as the trustees deem to be in the best interest of the Trust and the benefit plans.
• Establish procedures to be followed in filing claims for benefits and for the furnishing and certification of evidence necessary to establish a right to such benefits.
• Invest, or re-invest, such portion of the assets of the Trust as may not be required for current expenditures.
• Pay, from the assets of the Trust, to any organization that ceases to be a Participating Organization, their fair and reasonable share of the assets and/or the reserves that have accumulated as a result of their participation.
• Perform all acts, whether or not they are expressly authorized in the trust agreement, which the trustees deem necessary or proper for the protection of the property and assets of the Trust.

Responsibilities and Obligations of Participating Organizations

Each Participating Organization must acknowledge and agree to fulfill certain obligations and responsibilities. Some of those follow.

• To be bound by all of the terms, conditions and obligations of the trust deed ("the Trust Agreement"), which creates the Trust and which empowers the trustees to act.
• To make its contributions, to the Trust, on or before the first day of the calendar month for which the related coverage is to be provided. (To allow for a better return on investments, reduced delinquency, and provide a greater savings to the Participating Organization, it is recommended that all contributions be made at the beginning of the benefit year.)
• To provide such information and documentation as the trustees deem necessary, from time to time, for the administration of the Trust and the benefit plans.
• To contribute, initially, an amount equal to one percent (1%) of insurance premiums, to a special reserve account, accumulated and maintained in the Trust solely for the purpose of financing Trust operations and contingent expenses. (This requirement will be reviewed, annually, by the trustees).
• To have their benefit plan(s) underwritten by the insurance company(ies) chosen by the trustees.
• To appoint one or more person(s) to serve as trustee(s), when asked to make such appointment(s), and to do so within 21 days of being asked.
• To give at least four months notice, prior to the end of the benefit year, of its intention to withdraw from participation in the Trust.

Roles of Third Parties

The Trustees have the authority to hire, or retain, the services of, professional third party advisors and service agencies, to advance the aims and obligations of the Trust. These will involve: an administrator; an auditor (required by law); a benefit consultant; a bank or trust company; one or more insurance companies; an investment manager; and, as required, a legal counsel. With the passage of time, it is expected that the Trustees will require the services of an actuary as well.

Such advisors and service agencies will be carefully contracted to work under the direction of the Trustees, for the protection and enhancement of the beneficial interests held in trust. Their performance will be monitored and assessed constantly. Should their services fall below expected standards, any of these third parties will be dismissed.