Finance and Administration Portfolio
Services
Minister of Finance & Administration
1. The Minister of Finance & Administration is overall responsible for the fiscal and monetary policy of the LSC, being the budget and supply of the government as well as procurement.
2. The Minister of Finance & Administration has the overall responsibility for overseeing the Department of Finance & Administration.
3. The responsibilities of the Minister of Finance & Administration include, but are not limited to:
a. Chairing the Treasury Board;
b. monetary policy, including levies and other taxation instruments.
c. public expenditure including:
i. spending reviews and strategic planning;
ii. Tin-year spending control;
iii. procurement;
iv. capital investment;
v. infrastructure spending;
d. financial services policy, including clubs and design team funding, ensuring the sustainability of student-led initiatives;
e. the delivery of any capital or infrastructure projects funded by LSC; and
f. ensuring the Lassonde Community is growing sustainability.
Secretary of Finance & Administration
1. The Secretary of Finance & Administration is responsible for overseeing the operating budget of the LSC and relevant financial legislation.
2. The Secretary of Finance & Administration is responsible for the operations of the Department of Finance & Administration.
3. The Secretary of Finance & Administration directly reports to the Minister of Finance & Administration. .
4. The responsibilities of the Secretary of Finance & Administration include:
a. reporting, at all regular Meetings of the House, the financial position of the LSC, including but not limited to:
i. a comparison of actual income and expenses pertaining to the budget;
ii. a breakdown of fund disbursement;
iii. a statement of expected income and expenses;
b. the maintenance of records of:
i. all the sums of money received and disbursed by the LSC and the matters with respect to which receipt and disbursement took place;
ii. all sales and purchases;
iii. the assets and liabilities;
iv. call other transactions affecting the financial position of the LSC;
v. trademarks, copyrights, and other intellectual property;
c. annual auditing activities;
d. cheque requisition and approval; and
e. presenting the auditor’s report at a General Assembly during their term of office.