Description: Deals with the provision of perquisites to employees and members of the Board of Governors.
Notes: Reviewed by the President and Vice-Presidents, May 2012. Approved by the Board Finance and Audit Committee, May 28, 2012, and the Board of Governors, June 25, 2012.
Approval Authority: Board of Governors
Signature: Paul Cantor
For the purposes of this policy, a perquisite refers to a privilege that is provided to an individual or to a group of individuals, provides a personal benefit, and is not generally available to others.
This policy applies to all employees and governors.
III. Specifically Prohibited
Under the Perquisites Directive mandated under the Broader Public Sector Accountability Act, 2010, the University will not permit the payment or reimbursement of the following:
1. Specifically identified perquisites
· Club memberships for personal recreation or socializing purposes such as fitness clubs, golf clubs or social clubs
· Seasons tickets to cultural or sporting events
· Clothing allowances not related to health and safety or special job requirements
· Access to private health clinics, medical services outside of those provided by the Provincial Health Care System or by the employer’s group insured benefit plans
· Professional advisory services for personal matters, such as tax or estate planning.
2. Perquisites not specifically identified above but which are not related to business requirements.
IV. Approval Authority
In limited and exceptional circumstances, a perquisite may be granted to certain employees where the benefit is clearly required for the ongoing, effective performance of the employee’s job. Application in writing shall be made to the Vice-President Finance and Administration for approval.
V. Record Keeping
The Office of the Vice-President Finance and Administration will maintain a log of all approved perquisites and will annually report the summary list to the Finance and Audit Committee of the University’s Board of Governors. To ensure this information is publicly available, this summary list will also be posted annually on the University website under the Office of the Vice-President Finance and Administration.