Business and Structure
In February 2006, the Government of British Columbia enacted legislation creating the Southern Interior Development Initiative Trust (SIDIT) with a $50 million one-time allocation paid into a Regional Account. The Trust has the full powers and capacity of an individual and is not an agent of the government.
The mission of SIDIT is to support strategic investments in regional economic development projects and businesses that will have long-lasting and measurable benefits for the Southern Interior. This is accomplished through grant funding, loans and equity investments to economic development initiatives in 10 key sectors with the aim of helping to grow and diversify the economy of the Southern Interior region.
For more information on the Southern Interior Development Initiative Trust, please visit www.sidit-bc.ca
The SIDIT Board of Directors and members from the two RACs developed the initial three-year strategic plan in January 2007. This plan was designed to guide the Trust in its first year of operations. The current 3-year Strategic Plan represents an amended version of the original as SIDIT is in its thirteenth year of operations (Fiscal 2019-2021). Pursuant to the Act, the Board must approve all revised Strategic Plans before the first day of each fiscal year.
The current strategic goals are:
- Goal 1: Enhance the Southern Interior economy by promoting greater economic growth, resiliency and diversification.
- Goal 2: Preserve existing jobs, stimulate new employment and address skill shortages in the Southern Interior region.
- Goal 3: Attract new capital to the Southern Interior region to drive incremental economic development activities.
- Goal 4: Increase the value of the investment pool, thereby increasing opportunities to support regionally strategic investments in the Southern Interior.
- Goal 5: Create and sustain public awareness of and support for SIDIT’s purpose, goals, achievements and successes with a focus on partnership development, collaboration and extending rural reach.
SIDIT’s funding programs are specifically targeted toward investments in self sustaining projects that support ten mandated themes as defined in legislation. Performance measures include job creation, retention and enhancement, increased revenues, increased tax base, and economic diversification to the Southern Interior of British Columbia.
Experience and Qualifications
While previous experience as a director is not required, it is important that candidates understand the roles and responsibilities as a member of a board and have the necessary experience and demonstrated skills to enable them to contribute to board decision-making and oversight.
Part of the organization’s commitment to good governance includes the provision of a comprehensive orientation and ongoing professional development for new members.
Diversity and Inclusion
Consideration will be given to qualified individuals with a broad range of backgrounds including in community, labour and business environments. The selection process will recognize lived experience and volunteer roles as well as paid employment and academic achievements.
To support strong boards that reflect the diversity of our province, women, visible minorities, Indigenous Peoples, persons with disabilities, persons of diverse sexual orientation, gender identity or expression (LGBTQ2S+), and others who may contribute to diversity in public sector board appointments are encouraged to put their names forward for consideration.
There is currently one vacancy on the Board. The following attributes are sought for the vacant position:
- Venture capital or commercial lending expertise;
- High tech, exports or manufacturing industry expertise;
- Intellectual property expertise;
- Internal control and accounting expertise; and
- Preference for First Nations representative.
- Thompson Okanagan and Columbia Kootenay regions
Normally, the Board meets 4 times per year, generally at a prearranged time and date for approximately 2-4 hours. Meetings take place at various locations in the Trust area. Meetings of the Trust may be conducted by means of audio, audio visual, electronic or other communication methods.
In addition, most board members serve on a board committee and attend an annual one-day board retreat. Board committees typically meet monthly at times convenient to all members. Board members also attend various organization functions, such as presentations of grants and awards. A recognition event for retiring board members is held annually.
Pursuant to the Southern Interior Development Initiative Trust Act, the stipulated term is 3 years from the expiry of the term of the retiring director whom he or she replaces.
There is no compensation provided for these appointments other than travel and accommodation expense reimbursements.
Governance of the Trust is the responsibility of a 13-member Board of Directors. Four Directors are appointed by each of two Regional Advisory Committees (RACs) representing the Columbia Kootenay and Thompson Okanagan regions. RAC membership is comprised of local government elected officials and Members of the Legislative Assembly from the regions. MLAs cannot be members of the SIDIT Board. The remaining five directors, all of which are from the Trust area, are appointed by the provincial government.
Board appointed committees provide the recognized avenues for ongoing work of the Trust, when duly authorized by the Board. There are three committees: Management Committee, Finance Committee and Audit Committee.
Board Responsibilities and Accountabilities
The Board’s role is that of:
- Leader - set the strategic direction and empower senior management to implement Board direction;
- Overseer - evaluate performance measures and hold senior management accountable;
- Steward - provide stewardship for the effective delivery of the organization’s mandate; and;
- Reporter - report to government, stakeholders, public, and others.
Board responsibilities fall into the following general categories:
Managing Board Affairs: Establish the processes and structures necessary to ensure the effective functioning and renewal of the board. This includes: monitoring and improving the quality of the board and ensuring appropriate board committees are in place; ensuring appropriate board orientation and ongoing professional development; articulating roles and responsibilities for the board, committees, chair and individual governors; defining board processes and guidelines; evaluating the board, committees, directors and chair; and identifying potential director candidates.
Organization’s Mandate: Fully understand the organization’s mandate set by government, review, and make recommendations to government regarding the mandate to reflect changing circumstances.
Strategy and Plans: Participate in the development, review and approval of the organization’s strategic plan to ensure consistency with the organization’s mandate as set by government.
Human Resources: Subject to government legislation and guidelines, select, appoint, compensate, evaluate and terminate the Chief Executive Officer (the President); oversee management succession and development.
Financial and Corporate Issues: Review financial, accounting and control systems to ensure appropriate risk management systems, code of ethical conduct and conflict of interest guidelines are set in place.
Monitor and Report: Monitor organizational performance against strategic plans and compliance with applicable legislation and government direction; account to government and stakeholders through appropriate reporting.
Communications: Oversee organization’s communications policy.
Each year establish a 3-year strategic plan for the Trust, including goals for each year of the strategic plan relating to the fulfillment of the purposes identified in the legislation.
Within 4 months after the end of each fiscal year, the directors must:
- Prepare an annual report that complies with legislation;
- Prepare, in accordance with generally accepted accounting principles, financial statements for SIDIT for that fiscal year and have those financial statements audited in accordance with legislation;
- Report on the goals set by the directors for the preceding fiscal year, indicate how, if at all, those goals have been met and detail how those achievements met the intent of the purposes identified in SIDIT's legislation; and
- Publish each annual report in a manner that can reasonably be expected to bring the annual report to the attention of the public.
The individuals who make up the Board should, collectively, have the necessary personal attributes and competencies required to:
- add value and provide support for management in establishing strategy and reviewing risks and opportunities;
- effectively monitor the performance of management and the organization; and
- account for the performance of the organization.
All directors should possess the following personal attributes:
- high ethical standards and integrity in professional and personal dealings;
- appreciation of the responsibilities to the public;
- able and willing to raise potentially controversial issues in a manner that encourages dialogue;
- flexible, responsive and willing to consider others’ opinions;
- capable of a wide perspective on issues;
- ability to listen and work as a team member;
- no direct or indirect conflict of interest with the member’s responsibility to the organization;
- strong reasoning skills;
- able and willing to fulfill time commitment required to carry out responsibilities;
- may include personal attributes relevant to organization; and
- commitment to continuous learning about the organization and the relevant sector or industry.
Collectively, the Board should comprise the following core competencies:
- operational or technical expertise relevant to the operation of the organization including:
- strategic management and organizational change
- internal control and accounting
- public sector administration
- human resources
- labour relations
- risk management
- financial expertise;
- legal expertise;
- knowledge of government and the public sector environment;
- knowledge of current and emerging issues affecting the organization and its industry or sector; and
- knowledge of the community served by the organization.
List of Current Governors
||27 Aug 2021
|Vacant – in progress
||27 Aug 2021
|Philip (Phil) Amos Barker
|| 5 Nov 2018
||27 Aug 2021
|Sharon Anne Shepherd
|| 5 Nov 2018
||27 Aug 2021
|Wayne Albert Staudt
|| 5 Nov 2018
||27 Aug 2021
Process for Submitting Expressions of Interest
You may submit an Expression of Interest in serving on this board by clicking on the “Apply Online Now” button at the bottom of this page. For more information on the board, refer to the Directory of Agencies website.
British Columbia Appointment Guidelines
Appointments to British Columbia’s public sector organizations are governed by written appointment guidelines.
Freedom of Information and Protection of Privacy Act (FOIPPA) – The personal information on this form is collected for the purpose of administering a variety of statutes that authorize the appointment of individuals to public sector organizations under the authority of section 26(c) of the FOIPPA. Questions about the collection or use of this information can be directed to the Crown Agencies and Board Resourcing Office by email at firstname.lastname@example.org or by telephone at 604 660-0465.