SIGA_Annual_Report_2015 - page 82

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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 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, 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 are 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
ensures that a communication policy is in place. The Board has established a 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 them accountable for achieving the Board’s directives, managing risks, 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. The policy 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 eight meetings in the 2014-2015 fiscal year.
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