Page 38 - Presbyterian Connection

38
PRESBYTERIAN
WINTER 2022
presbyterian.ca
Connection
COMMITTEES
Trustee Board Responsibilities
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In the autumn, the committee communicates with Sessions, presbyteries, synods and stand- ing committees calling for nomi- nations and supplying them with the information that is needed to participate fully in the nomination process.
Nominations must be submit- ted with biographical information and reasons explaining why the person is recommended to a par- ticular standing committee for the committee’s consideration.
The committee reviews the names that have been submit- ted by Sessions, presbyteries, synods and standing committees in light of the needs and mandates of the committees. After prayer- ful and careful consideration, the committee prepares a slate of nominations for the General Assembly.
In its work, the Committee to Nominate Standing Committees is to carry out its duties with discretion, fairness and balance, seeking to build up the church, to reflect the ethnic diversity of the denomination. The committee is to take special care to ensure that there is a balance between ministers and laity, regional repre- sentation, gender, and will strive to include the cultural diversity of our church.
Participating in the church’s work of discernment
Serving on a committee can be a lot of work, but it is reward- ing. Being a member of a stand- ing committee provides excellent opportunities to learn how the church works, to meet people from across the country and to be part of the church’s vital work of discerning how the church can serve God faithfully in the world that God loves.
It is vital that all parts of the church participate in the nominat-
ing process. If you know someone who has gifts to share with the church, seek their permission and nominate them through the Ses- sion or presbytery in order to be
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is invested in a manner that a pru- dent person would do.
The various funds and endow- ments of The Presbyterian Church in Canada are the largest source of the money in the Consolidated Fund. Additionally, about 120 congregations, church groups and Presbyterian-related institu- tions have also invested funds in the Consolidated Fund. The total Consolidated Fund—including all unit-holders—was about $204 million on June 30, 2022, up from $121 million in December 2011.
made by the investment manag- ers. Since the church invests in pooled funds rather than directly buying a company’s stocks, having a match between the phi- losophy and commitments of the Board and its investment manag- ers is essential.
The 2021 General Assembly asked the Trustee Board to move toward having 5% of the Consoli- dated Fund invested in Indigenous enterprises by 2026, if not soon- er. Shifting over $10 million into Indigenous enterprises takes re- search, planning, and a thought- through strategy. The IAC is do- ing that work as it determines the best investment managers to work with on this important de- velopment. The IAC will then be ready to make recommendations to the Board for action.
The board is also in conversa- tion with the International Affairs Committee of the General Assem- bly about limiting the carbon foot- print of the investments the two funds make. These shifts require careful research. For example, a shift from fossil-fuel based indus- tries to solar-powered industries means depending on solar cells of which China is the world’s number one producer. Much of the silica China uses in their solar cells is mined by a labour force made up largely of Uyghur peo- ple, who work under conditions that can be best described as forced labour.
The Trustee Board takes seri- ously its role in managing the investments of The Presbyterian Church in Canada. It seeks to be wise, discerning and prudent as it exercises its fiduciary respon- sibility. In this way the Trustee Board desires to fulfill Jesus’ instructions: “Be as shrewd as snakes and as innocent as doves” (Matthew 10:16).
considered for membership on a
standing committee of the church. The Pension and Benefits Office
Nominations are to be submit- ted to the General Assembly Of- fice by Feb. 28, 2023.
of the church collects the contri- butions to the Pension Fund from employers (congregations, col- leges, missions, national boards, etc.) and from employees (minis- ters and other staff who are part of the plan), but it is the Trustee Board who guides the investment of these funds. The Pension Board projects its requirements in pay- ing pensions into the future, and those projections help the Trustee Board shape the investment policy and procedures of the Pension Fund over the course of time. The Pension Fund had $312 million in assets as of June 2022, up from $176 million in December 2011.
Recently, Canadian Presbyteri- ans have expressed an increased interest in better understanding the investments the church holds. Over the last number of years, the Pension Fund has gone beyond investing in stocks and bonds. Newer asset classes include in- vestments in infrastructure pro- jects, such as wind farms and highways, as well as real estate. The bulk of the investments, how- ever, remain in stocks and bonds.
The Board has received pres- entations about ESG (Environ- mental, Social and Governance) and how those concerns may impact the investment decisions
Nominations for Trustee Board Membership
The Presbyterian Church in Canada is seeking a new vol- unteer member for its Trustee Board.
The members of the Trustee Board have a diverse range of expertise, including: account- ing, audit, business adminis- tration, banking, church ad- ministration, church doctrine, finance, financial planning, governance, healing and rec- onciliation, human resources, investments, legal, mission- ary, real estate, risk manage- ment and social justice.
The Trustee Board has the power to:
• Borrow on behalf of the church
• Invest the funds of the church
• Establish and maintain a pension plan
• Transact annuities, contracts, negotiable instruments, property and real estate
The Trustee Board meets four times a year (March, May, September and Novem- ber). The maximum term for a member of the Trustee Board is six years. The Trustee Board of The Presbyterian Church in Canada was incorporated by a Special Act of Parliament in 1939. Members of the Trus- tee Board must be an active member within The Pres- byterian Church in Canada. New appointments are done in June by the General As-
sembly, as facilitated through the Committee to Nominate Standing Committee. The first Trustee Board meeting for this posted position will be Sept. 2023.
Nominations for new members of the Trustee Board should be submitted to the Committee to Nomi- nate Standing Committee, The Presbyterian Church in Canada. Nominations are done through either the Ses- sion of a Presbyterian con- gregation, a presbytery or a synod. Nominations can be sent c/o Terrie-Lee Hamilton, Senior Administrator, General Assembly Office, The Pres- byterian Church in Canada, thamilton@prebyterian.ca. Nominations must be sub- mitted by Feb. 28, 2023.
We are looking for a can- didate who has a legal back- ground that includes an un- derstanding of the policies and governance of The Pres- byterian Church in Canada (including the Book of Forms) and the relationship to the general law of Canada—both common law and civil law. As well, they must have experi- ence and knowledge in the following areas of law:
• Property law, especially Real Property law
• Trusts and Estate law • Fiduciary law
• Securities and Banking
law
Resources for the Season
Find prayers, liturgies, devotionals, family activities, videos and other resources for Advent and Christmas at: presbyterian.ca/advent