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District of West Vancouver

Terms of Reference – Finance Committee: Key Performance Indicators Task Group

02-30-330

Effective Date: March 3, 2015

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District of West Vancouver

INTERNAL COMMITTEE POLICY

1.0 Purpose

1.1 Background

The Finance Committee is a standing committee of Council. The primary function of the Finance Committee is to assist Council to fulfill its oversight responsibilities by reviewing and providing feedback on:

(a) organizational and financial performance;

(b) financial information, other than audited financial statements;

(c) financial plans and budgets;

(d) the system of internal controls; and

(e) investment management activities.

1.2 The Key Performance Indicators Task Group

The Key Performance Indicators (“KPI”) Task Group is a subcommittee of the Finance Committee. The primary function of the KPI Task Group is to assist the Finance Committee to fulfill its oversight responsibilities, by developing, in conjunction with District staff, a comprehensive list of Key Performance Indicators that will measure and demonstrate:

(i) the financial performance of the District; and

(ii) the organizations ability to execute on strategic goals and objectives (as articulated in Council Priorities).

Financial Services Division

Part 1 Finance Committee: Key Performance Indicators Task Group Terms of Reference

Policy 02-30-355

File: 0116-20-FIN

Policy 02-30-355 Finance Committee Key Performance Indicators Task Group Terms of Reference

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2.0 Policy

2.1 Duties and Responsibilities

a) Key Performance Indicators

The KPI Task Group will review:

(i) Divisional Core Service Reviews (Parks and Community Services, Engineering and Transportation, Fire and Rescue, and West Vancouver Memorial Library);

(ii) 2011 KPI Guidelines Report and Appendix prepared by the Finance Discussion Group;

(iii) Reports and findings prepared by the Value for Services Working Group; and

(iv) Report and findings of the Fiscal Sustainability Task Force.

b) All relevant background documents and similar documents and practices in other jurisdictions, including relevant legislation and bylaws;

3.0 Composition

3.1 Finance Committee Representation

The KPI Task Group will consist of no less than two and no more than three members of the Finance Committee.

3.2 Chair

A Chairperson will be selected by the Finance Committee members of the KPI Task Group at the first meeting.

3.3 Public Appointments

Finance Committee members of the KPI Task Group will invite, as appropriate, between zero and three members of the public to participate in the KPI Task Group.

3.4 Staff

The Chief Financial Officer shall be the staff liaison to the KPI Task Group.

Policy 02-30-355 Finance Committee Key Performance Indicators Task Group Terms of Reference

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4.0 Term

The KPI Task Group will work for a nine month period in 2015 (March to December) to review the District’s key performance indicators.

5.0 Meeting Schedule

To be determined by the Chair.

6.0 Decision-Making Approach

Decisions will be made by consensus as required.

7.0 Conflict of Interest

Members should declare possible conflict of interest to the KPI Task Group Chairperson. The Chairperson will determine whether or not the member should be excused from participating in a discussion. (For reference, conflict of interest guidelines are in the Council Committee General Terms of Reference).

8.0 Support/ Professional Services Utilized

Staff support from the Chief Financial Officer’s Division will be provided as necessary.

Approval Date: March 3, 2015

Approved by: Finance Committee