2022–23 Annual Report

The Council recognizes the Algonquins as The Council acknowledges the historical the customary keepers and defenders of the oppression of lands, cultures, and the original Ottawa River Watershed and its tributaries. [...] Council is Canada’s public arts funder, with a mandate to “foster and promote the study The Council is responsible for the Canadian and enjoyment of, and the production of Commission for UNESCO, which promotes works in, the arts.” the values and programs of UNESCO to contribute to a future of peace, reconciliation, The Council’s grants, services, initiatives, equity, and sustainable development. [...] 24 GOVERNANCE 25 Board mandate • approved appointments to the Audit and Finance Committee and to the Governance The Canada Council for the Arts is led and Nominating Committee, as well as appointments and reappointments to the by a director and CEO appointed by the Investment Committee, which enhanced the Governor in Council and governed by a overall effectiveness of the Board; board consisting of. [...] 35 36 FINANCIAL POSITION The Investment Committee reviews the Council’s investment policy annually and, as considered necessary and appropriate, recommends adjustments to the asset mix and to the diversification of the portfolio management structure or to its expenditure policy, currently set at 3.5% times the rolling Financial Assets average of the market value of the fund over the last three yea. [...] The specified authorities against which compliance was audited are the applicable provisions of Part X of the Financial Administration Act and regulations, the Canada Council for the Arts Act and the bylaws of the Canada Council for the Arts.