Approved/revised: August 22, 2023
POLICY
A. BOARD HONORARIA
Honoraria will be paid to each Lieutenant Governor in Council appointed Board member and to each student member elected by the students.* The honoraria will include a base rate plus a per meeting amount for attendance at Board meetings to an annual maximum total of $2,300 for Board members other than the Chair. In the case of the Chair, an additional amount will be paid for work on behalf of the Board making the Chair's honorarium to an annual maximum total of $3,450.
Base rate: Chair $2,070 per year Other members $ 970 per year
Board meeting rate: All members $ 230 per meeting (to a maximum of 6)
The Board meeting rate will be paid for attendance at regular Board meetings (normally five), the Board’s annual retreat session, and for attendance at meetings on behalf of, and at the direction of the Board, up to the annual maximum total applicable. The Chair is authorized to approve Board member attendance on behalf of the Board.
Order-in-Council appointed Board members who incur return trip travel time in excess of two hours to attend a Board meeting will receive a prorated allowance (based on the per meeting rate above for a seven-hour day) for travel greater than two hours and such amounts will be outside of the annual maximum honoraria totals identified above. However, this amount will not exceed seven hours in total for return trip travel to a Board meeting.
All honoraria will be calculated and paid on a quarterly basis. Any errors or omissions will be adjusted in the next quarter.
*Note: As per legislation, this policy does not include NVIT employees. (NVIT employees elected to the Board will normally receive time in lieu to be taken during the same week as the Board meeting.)