click here - Stichting Weeshuis Sri Lanka

PROCEDURES OF THE SUPERVISORY BOARDMeeting frequencyAgendaChangesInforming the BoardAttendanceActivitiesInterventionsImprovementsCompensationThe Supervisory Board has to meet in accordance with the regulations once a year.Presently the frequency is twice a year to ensure a close involvement with thefoundation.Topics discussed at the Supervisory Board meetings:• Finance and assets planning• Master plan 2005-2010• The monthly progress reports• The long term ability to become self supporting of the home• Continuity of the Board of Directors of the foundation• Care plan and long term vision and goals• Advise on fund raising strategy• Evaluation and future of Board of DirectorsNo changes have occurred.The Supervisory Board is informed by:• Monthly progress updates• Quarterly Financial review• Newsletters• Personal visits to the project in Sri Lanka• Realtime fact updates• Individual conversations and meetingsAll members of the Supervisory Board are present at the meetings. With the externalaccountant separate meetings are held to discuss the financial strategy, administrationand control.Next to the supervisory role of the members of the Supervisory Board the individualmembers are closely involved with developments and activities. This was implementedby:• Using their personal and professional networks• Visits to Sri Lanka• Supporting various marketing and communication activities• Visits to ‘the kitchen table’• Co-ordination of the research by Erasmus UniversityThe Board has intervened with the founding of the Sri Lanka College Foundation, anew separate foundation aiming to start a college in Sri Lanka. The Supervisory Boardhas given – out of precaution - a negative advice for this side activity.No structural advice or remarks were given for improvement.The members of the Supervisory Board are not compensated and do not receive anykind of reimbursement.39