Page 66 - SIGA Annual Report 2014

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66
CORPORATE
GOVERNANCE
AUTHORITY
Under the First Nations Gaming Act, the Federation
of Saskatchewan Indian Nations (FSIN) created the
Saskatchewan Indian Gaming Authority (SIGA) on
June 10, 1995. The FSIN entered into the Gaming
Framework Agreement (GFA) with the Province of
Saskatchewan, which established exclusive access to
casino markets in Saskatchewan. SIGA was designated
as the proponent for casino development and, was
then incorporated under The Non-Profit Corporation
Act of Saskatchewan on January 11, 1996.
The Province of Saskatchewan, through the
Saskatchewan Liquor and Gaming Authority (SLGA)
and the Indigenous Gaming Regulators (IGR), regulates
SIGA. Accountable to the mandate set out by its
shareholders, SIGA operates under the terms set out
in the Casino Operating Agreement (COA) and terms
set out in the Casino Operating Agreement (COA)
and gaming regulatory conditions established by
IGR and SLGA.
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). The CDCs distribute this money to charitable
and not- for-profit community organizations. Profits
generated from SIGA’s operations are administered
by the Province of Saskatchewan using the following
breakdown: 50% to Saskatchewan First Nations, as
distributed through the First Nations Trust; 25% to
the CDC’s; and 25% to the Provincial Government’s
General Revenue Fund.
ROLE OF THE BOARD
On behalf of the Shareholders, 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
and annual budgets, 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 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 nine meetings in the 2013-2014 fiscal year.
BOARD CHAIR– TRIBAL CHIEF FELIX THOMAS
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 Gaming Commission and the FSIN
Legislative Assembly on the affairs of the corporation,
including all business aspects of casinos owned and
operated by SIGA. The Chair, in turn, reports to the
Board of Directors any recommendations offered by
the Gaming Commission 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.