Page 62 - 2009_2010_Annual_Report

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Corporate
Governance
AUTHORITY
Under the First Nations Gaming Act, the Federation of Saskatchewan Indian Nations created the Saskatchewan Indian Gaming Authority
(SIGA) on June 10, 1995. SIGA was then incorporated under The Non-Profit Corporation Act of Saskatchewan on January 11, 1996,
and is designated as a charitable corporation. The FSIN owns the only issued Class A Membership. Class B Memberships are held by
the Tribal Councils and independent First Nations.
SASKATCHEWAN LIQUOR AND GAMING AUTHORITY
The Province of Saskatchewan, through the Saskatchewan Liquor and Gaming Authority (SLGA), regulates SIGA. This authority is
responsible for the approval of budgets, operating policies and procedures and expansion of services. Constant dialogue takes place
between the management and employees of both organizations.
OUR STRUCTURE
SIGA’s gaming operations are a revenue source for the Saskatchewan’s First Nations, the Provincial Treasury and for the Community
Development Corporations (CDCs) situated in the six casino locations. The CDCs distribute this money to charitable and not-for-profit
community organizations. Profits generated from SIGA’s operations are distributed to the First Nations Trust (50%) which is distributed
to Saskatchewan’s First Nations, the Provincial Government’s General Revenue Fund (25%) and the CDCs (25%).
ROLE OF THE BOARD
The Board of Directors is responsible for the stewardship of the organization and is ultimately accountable for the management of the
affairs and business of SIGA. In meeting this responsibility, the Board works with management to develop and approve the organization’s
strategic plan, annual budgets and business plans, and ensures that a communication policy is in place. It has established terms of
reference addressing its principal duties and responsibilities as a Board.
While focusing on the strategic direction of the organization, the Board delegates day-to-day operations to the President and CEO. The
Board has resolved to adopt a policy governance model that empowers the President and CEO and holds him accountable for achieving
the Board’s ends directives, managing risks, and complying with the Casino Operating Agreement and Board policies. In addition, the
organization has a comprehensive Delegation of Authority Policy that governs the approvals and spending authorities for all managers
consistent with their responsibilities, accountabilities and budgetary allocations, and specifies those matters that require Board approval:
items specific to capital expenses (including renovation projects) planned over $1,000,000; and unplanned $500,000, any property
management, land and building leases, and all other operating expenses and contracts over $500,000.
All of its Directors are independent of management and no member of management serves as a Director. The Board held 12 scheduled
meetings in the 2009/10 fiscal year with a number of additional meetings to deal with specific business issues.
BOARD CHAIR – RAY AHENAKEW
The Chair provides leadership by guiding the Board, coordinating its activities and fostering relationships in the best interests of
the organization. The Chair, while working closely with the President and CEO, retains an independent perspective to best represent
the interests of SIGA, the Board, and the communities they serve. The Chair, on behalf of the Board, reports to the FSIN Economic
and Community Development Commission (ECDC) and the FSIN Legislative Assembly on the affairs of the corporation, including all
business aspects of casinos owned or operated by SIGA. The Chair, in turn, reports to the Board of Directors any recommendations
offered by ECDC and the Assembly. The Board has delegated authority and assigned responsibility to the Board Chair for managing
SIGA’s relationship with the shareholders as per policy B03-012. Board Chair – Terms of Reference.