December 4, 2008

The Vice-Chair of the AC Investment Committee, with the support of OMERS senior staff, made a presentation to the SC about the AC Strategic Plan. There was emphasis on: establishing a global footprint, accessing domestic and international capital and establishing global access companies.

The SC Member education policy had been addressed by the HRCC (Human Resources & Compensation Committee) and their recommendation to discontinue the Directors College program as a recommended course for Members and to add instead two Humber College programs more focused on SC Member development requirements was approved.

The Executive Director’s staffing recommendations were approved by the SC, bringing the complement of two contract staff up to four positions, including full and part-time, in response to the growing administrative support required by the Board and committees.

The 2009 draft budget was approved, as were a number of Framework Agreement Touchpoints outlining areas where the AC and SC work together and what the roles and responsibilities of each and the procedures to be followed are. The subcommittee responsible for developing the Agreement consists of equal SC and AC staff and board members, who seek approval from their respective Boards.